Global Industrial Cybersecurity Market Size By Security Type (Cloud Application Security, Network Security, End-point Security, Internet Security), Component (Product, Software, Services), Industry (Process Industry, Discrete Industry), and Region - Market Share, Trend Analysis, Competitive Intelligence, Historical Data, and Forecast 2023 - 2030

Market Perspective

Global industrial cybersecurity market size was worth around USD 21.45 billion in 2022 and is anticipated to grow to around USD 45.17 billion by 2030 at a CAGR of around 9.76% between 2023 - 2030.

Industrial cybersecurity involves protecting the digital infrastructure and interconnected systems within industrial sectors, such as manufacturing, energy, and chemicals, from cyber threats and unauthorized access. The global market for industrial cybersecurity is fueled by the increasing integration of digital technologies, Industry 4.0 adoption, and the recognition of cyber risks to critical processes. Organizations are investing in cloud applications, network, and end-point security solutions to safeguard against data breaches and operational disruptions. As process and discrete industries embrace automation and IoT, the market scenario emphasizes the need for robust security measures to counter evolving cyber threats. The future holds promise with innovations in AI-driven threat detection, secure remote access, and holistic risk management, indicating a dynamic landscape with continued growth prospects for industrial cybersecurity solutions.

Key Insights

• Based on security type, the cloud application security segment held the dominating position with the highest market value in 2022
• Based on component, the software segment acquired the largest market share of in 2022
• Based on industry, the process industry segment is expected to grow with the highest CAGR in the forecasted period
• On the basis of region, North America accounted for the largest market share in 2022

Rising Connectivity Driving Industrial Cybersecurity Market Growth

The escalating integration of digital technologies across industries acts as a major driving force behind the growth of the industrial cybersecurity market. As industrial processes become more interconnected through the Internet of Things (IoT) and Industry 4.0 initiatives, the attack surface for potential cyber threats widens significantly. This driving factor compels organizations to prioritize robust cybersecurity measures to protect critical infrastructure and sensitive data. The demand for advanced solutions such as network security, end-point protection, and cloud application security is propelled by the urgent need to counteract evolving cyber risks and maintain the integrity and continuity of industrial operations in an increasingly connected world.

Legacy System Vulnerabilities: A Significant Restraint in the Market

The widespread dependence on outdated industrial systems poses a significant obstacle in the industrial cybersecurity market. Many industrial facilities still rely on outdated technologies that lack robust cybersecurity features. These systems are often vulnerable to cyber-attacks due to the absence of security updates and protocols. Integrating modern cybersecurity solutions into these legacy environments is challenging due to compatibility issues and potential disruptions to operations. Consequently, industries with extensive legacy infrastructure, such as manufacturing and utilities, face limitations in adopting advanced cybersecurity measures quickly. The challenge lies in finding a balance between maintaining operational continuity and implementing necessary security enhancements.

Recent Development

February 2023: Opscura, a pioneering industrial cybersecurity company, has secured USD 9.4 million in Series A funding, highlighting the growing recognition of cybersecurity's significance as critical operations undergo transformation. This injection of capital underscores the market's increasing focus on fortifying industrial processes against evolving cyber threats, driving innovation and solutions that safeguard essential operations in the face of digital transformation.

Segmentation Analysis

Based on security type, the market is segmented into cloud application security, network security, end-point security, and internet security. In 2022, the cloud application security segment emerged as a major player in the market, capturing the largest market share. This emphasizes the importance of protecting cloud-based industrial processes and data from cyber threats, highlighting the growing awareness of the necessity for strong cybersecurity measures in an increasingly digital industrial environment.

Based on component, the market is classified into product, software, and services. The software segment is the fastest-growing in the market. It is predicted that by 2030, this segment will have the highest value, indicating the increasing demand for advanced software solutions that enhance industrial cybersecurity. This rapid growth showcases the industry's proactive approach to addressing evolving cyber threats and the crucial role software plays in strengthening defenses across various industrial sectors.

Based on industry, the market is divided into process industry, and discrete industry. In 2022, the process industry segment achieved the highest revenue, securing the top position in the industrial cybersecurity market. This accomplishment highlights the segment's critical role in safeguarding continuous and intricate processes. The significant revenue generated reflects the industry's dedication to investing in strong cybersecurity measures. These investments aim to ensure the smooth operation of crucial processes, mitigate risks, and protect sensitive data within this vital sector.

Regional Landscape

North America is the Dominating Region Owing to the Significant Investments in Cutting-Edge Cybersecurity Solutions

In 2022, North America emerged as the leader in the industrial cybersecurity market, with the highest market value among all regions. This dominant position highlights the region's proactive approach to protecting its industrial landscape from cyber threats. Factors such as advanced technology adoption, strict regulatory frameworks, and a heightened awareness of cyber risks have contributed to North America's leadership. With a strong focus on safeguarding critical infrastructure and ensuring uninterrupted operations, industries in the region have made significant investments in cutting-edge cybersecurity solutions. This dominance reflects North America's commitment to maintaining a secure digital environment for its initiatives, fostering continuous growth and innovation in the field of industrial cybersecurity.

Asia-Pacific Emerges as a Key Player in Industrial Cybersecurity with Rapid Growth and Regulatory Drive

The Asia-Pacific region is experiencing rapid growth in the market, with a projected highest CAGR throughout the forecasted period. This expansion can be attributed to several factors. The region's increasing industrialization, particularly in the manufacturing and energy sectors, is driving digitalization and automation, creating a need for strong cybersecurity measures. The rising number of cyber-attacks and growing awareness of potential risks have also led industries to prioritize investments in cybersecurity. Governments in the Asia-Pacific region are introducing regulations to mandate cybersecurity practices, further driving market growth. As businesses understand the importance of protecting critical infrastructure and sensitive data in an interconnected world, the demand for advanced security solutions in the region is surging, positioning Asia-Pacific as a key player in the global industrial cybersecurity landscape.

Competitive Landscape

The global industrial cybersecurity market is fragmented with key players such as Microsoft Corporation, Siemens AG, Trend Micro, Inc., Splunk Inc., Rockwell Automation, Inc., Bayshore Networks, Inc., Broadcom Inc., Kaspersky Lab, Dell Inc., Proofpoint, Inc., amongst others. Companies employ a variety of strategic measures such as acquisitions, mergers, partnerships, product introductions, and collaborations to expand their business globally and enhance their competitive position.

The global industrial cybersecurity market is segmented as follows:

By Security Type

• Cloud Application Security
• Network Security
• End-point Security
• Internet Security

By Component

• Product
• Software
• Services

By Industry

• Process Industry
• Discrete Industry

By Region

• North America
  • U.S.
  • Canada
  • Mexico
• Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Russia
  • Rest of Europe
• Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Rest of Asia-Pacific
• Middle East & Africa
  • GCC
  • South Africa
  • North America
  • Rest of Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America