Critical Infrastructure Protection Market - Highly Lucrative Opportunities for Market Players By 2024

Critical Infrastructure Protection (CIP) is a notion that relates to the vigilance and response to serious incidents that involve critical infrastructure of a region or nation. Critical infrastructure includes banking and finance, transportation, food production and distribution, energy, water systems, law enforcement agencies, federal and municipal services, and other emergency services– both government and private. These CIP systems are required for minimum operations of the economy and government. In short, these systems serve as a backbone of a nation’s economy, security, and wealth.

Critical infrastructure protection is getting increasingly automated and interlinked. However, the advancement in technology related to infrastructure protection has created new susceptibilities to human errors, equipment failure, physical and cyber-attacks. Various public and private organizations are adopting technologies to protect their critical infrastructure from malevolent objects, generate immediate response to block suspicious activities, and protect the critical systems.

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Growth of the critical infrastructure protection market is attributed to the increasing number of cyber threats and implementation of government regulations and practices for the nation’s safety. The increasing IT expenditure, deployment of automation solutions, and efficient policies and regulations also drive the market. However, lack of technically skilled force and knowledge about industrial control systems is a key factor hampering the growth of the critical infrastructure protection market.

Based on service offered by the manufacturer, the global CIP market has been segmented into maintenance & support, designing, integration & consulting, and risk management services. Out of these, the risk management services segment accounted for a major share of the market, followed by designing and integration & consulting. The risk management services segment is anticipated to remain the leading segment of the market for critical infrastructure protection during the forecast period.

Based on security technology, the global critical infrastructure protection market has also been segmented into physical security, network security, SCADA security, building management systems, secure communications, radars, vehicle identification, and CBRNE. Out of these, the physical security technology segment holds a major share of the critical infrastructure protection market and is anticipated to remain the leading segment of the market during the forecast period. Increasing terrorist attacks across the globe, threats to physical assets, and government regulations are the key factors likely to propel the market during the forecast period.

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Based on vertical, the CIP market has been segmented into transportation systems, energy & power, and sensitive infrastructure & enterprises. The sensitive infrastructure & enterprises segment accounts for a leading share of the critical infrastructure protection market and the trend is anticipated to continue during the forecast period. The sensitive infrastructure & enterprises segment has been sub-segmented into government facilities & defense services, stadiums, holy places & public places, banking & financial services, communication systems, chemical sector, and manufacturing sector. These sub-segments are highly critical assets and they form a country’s important infrastructure. Critical infrastructure protection provides solutions for this infrastructure to offer security and safety to customers.

Based on region, global critical infrastructure protection market has been segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa North America dominated the global critical infrastructure protection market in 2015 and the same trend is likely to continue during the forecast period. The U.S. is a major market in North America, due to its susceptibility to terrorism, cyber hijacking, and other local threats. However, the market in Asia Pacific is anticipated to expand at a rapid rate during the forecast period. Constant threat of terrorism, rising cyber threats, and increasing investment in infrastructure protection are the major factors expected to propel the demand for critical infrastructure protection in the region during the forecast period.

The global market for CIP is highly competitive with the presence of global and regional players. Some of the leading players are BAE Systems, Honeywell International Inc., EMC Corporation, General Electric, and McAfee Inc.