Risks associated with network safety are expanding, boosted by global utilization and availability of cloud administrations such as Amazon Web Services, to store sensitive and individual information

Growing modern digital crooks combined with the inescapable helpless arrangements of cloud services means the risk that a company experiences, an efficient digital attack or data breach is on the rise. Gone are the days of simple antivirus and firewall software as it only provides safety to the data and systems. Currently, leading companies do not rely on online protection experts for data security. Digital risks can appear with any extent in the company. It should be taught to the employees about simple social designing tricks like phishing and advanced online protection attacks such as ransom ware assaults (think WannaCry) or other malware, designed to get licensed innovation or individual data.

By Offering Type

Based on Offering Type, the market is segmented into Products and Solution & Services. Elements like hardware, security software, and applications play a significant role in addressing cyberattacks. For example, the electrical power application includes extremely high-speed processes that are regulated with the help of devices that are manufactured for the emergency protection of power equipment and automation. These devices are interconnected to work together, hence need network security.

By Security Type

Based on Security Type, the market is segmented into Network Security, Endpoint Security, Application Security, Cloud Security, Wireless Security and Others. Based on service type, Application security will develop with the largest growth rate in the industrial cybersecurity market in 2020. Application security is considered as the security of software and code from external and internal threats that include web attacks, DDoS attacks, site scraping, and fraud. It includes security policies to safeguard industrial applications and sensitive data from both random and targeted application security attacks.

By End User

Based on End User, the market is segmented into Power, Utilities, Transportation, Chemicals & Manufacturing and Others. The market for Transportation applications will grow at the highest growth rate over the forthcoming years. Globally, individuals have been increasingly depending on technologies and web-based applications resulting in an increased risk of cyber threats. Road, rail, and metro networks are interconnected to each other and with other modes of transport.

By Region

Based on Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa. APAC is expected to showcase the highest growth rate of the industrial cybersecurity market during the forecast period. APAC consists of developing countries like China and India. These economies consist of the majority of small and medium enterprises (SMEs), which together responsible for the employment of above 70% of the total population in the countries.

The major strategies followed by the market participants are Product Launches and Partnerships. Based on the Analysis presented in the Cardinal matrix; Microsoft Corporation is the major forerunner in the Industrial Cybersecurity Market. Companies such as Honeywell International, Inc., IBM Corporation, Cisco Systems, Inc., Siemens AG, Schneider Electric SE, Broadcom, Inc., ABB Group, Palo Alto Networks, Inc., and Rockwell Automation, Inc. are some of the key innovators in the market.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, IBM Corporation, Honeywell International, Inc., Cisco Systems, Inc., Schneider Electric SE, Rockwell Automation, Inc., Siemens AG, Microsoft Corporation, Palo Alto Networks, Inc. and Broadcom, Inc.

 

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