According to a new report, published by KBV research, The Global Cyber Security for Industrial Automation Market size is expected to reach $17.4 billion by 2030, rising at a market growth of 9.2% CAGR during the forecast period.
The industrial automation sector faces a constantly evolving and sophisticated threat landscape. Cyber-attacks on critical infrastructure, including manufacturing plants, energy grids, and transportation systems, have become more frequent and sophisticated. The realization of the potential impact of these attacks on operational continuity, safety, and financial stability has prompted industries to prioritize cybersecurity as an integral component of their automation strategies.
Industry 4.0 has ushered in an era of increased connectivity and interoperability. Industrial Internet of Things (IIoT) devices, sensors, and smart systems enable real-time data exchange and decision-making. While this connectivity enhances operational efficiency, it also introduces new vulnerabilities. Cybersecurity measures are imperative to safeguard interconnected systems from unauthorized access, data breaches, and manipulation.
The Programmable Automation System segment is leading the Global Cyber Security for Industrial Automation Market by Type in 2022; thereby, achieving a market value of $5.5 billion by 2030. Programmable automation systems often involve interconnected devices and sensors, contributing to industrial settings' Internet of Things (IoT) landscape. Integrating these devices creates a complex network, and securing communication channels between devices and systems is crucial to prevent cyber vulnerabilities and unauthorized access. Programmable automation systems handle sensitive data related to manufacturing processes, production schedules, and quality control.
The Enterprise Security segment is registering a CAGR of 8.9% during (2023 - 2030). Enterprise security extends to encompass both IT and OT environments. A unified security strategy ensures that the entire organizational infrastructure, from traditional IT to industrial control systems, is protected against cyber threats. Enterprise security includes the deployment of firewalls and intrusion detection systems across the entire network, covering both IT and OT components. These measures help monitor and control network traffic, detecting and preventing unauthorized access and potential cyber threats.
The Food & Beverage Processing segment is generating the highest revenue in the Global Cyber Security for Industrial Automation Market by End Use in 2022; thereby, achieving a market value of $5.8 billion by 2030. Food & beverage processing plants are undergoing digital transformation by integrating automation and control systems. This includes implementing the Industrial Internet of Things (IIoT), smart sensors, and connected devices to monitor and control various processes. Automation systems in the food and beverage industry are becoming more interconnected, creating a network of devices that communicate with each other.
The Computer Numerical Control (CNC) Systems segment is showcasing a CAGR of 9.6% during (2023 - 2030). Modern CNC systems are often part of interconnected networks within manufacturing environments. This connectivity enables real-time monitoring, data analysis, and remote control. However, it also introduces potential vulnerabilities that need to be addressed through cybersecurity measures to protect against unauthorized access and cyber threats. CNC systems play a crucial role in precision manufacturing and handle sensitive design and production data.
Full Report: https://www.kbvresearch.com/cyber-security-for-industrial-automation-market/
The Asia Pacific region dominated the Global Cyber Security for Industrial Automation Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $6.7 billion by 2030. The Europe region is poised to grow a CAGR of 8.7% during (2023 - 2030). Additionally, The North America market would witness a CAGR of 8.5% during (2023 - 2030).
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