Adrian Johnson
TLDR:
- The global cyber security for industrial automation market is projected to reach USD 20.5 billion by 2032, growing at a CAGR of 8.7%.
- The market is driven by factors such as the adoption of novel technologies, focus on cyber resilience, and increasing cyber threats.
In a recent report published by Allied Market Research, titled “Jam-packed Opportunities for Investors | Cyber Security for Industrial Automation Market Reach USD 20.5 Billion by 2032,” the market is expected to experience significant growth due to the integration of new technologies in the industrial automation sector. The rising focus on cyber resilience, development of incident response plans, and business continuity are also contributing factors to the market growth.
The global cyber security for industrial automation market size was valued at USD 9 billion in 2022 and is projected to reach USD 20.5 billion by 2032, with a CAGR of 8.7% from 2023 to 2032. The market is segmented based on type, tools or technologies, security type, end use, and region. The report highlights the impact of COVID-19 on the market, with disruptions in global supply chains and increased cyber threats during the pandemic.
The key players profiled in the report include IBM, ABB, Schneider Electric, Honeywell International Inc., Siemens AG, and others. The SCADA security sub-segment accounted for the largest market share in 2022, with the food & beverage processing sub-segment expected to grow at the highest CAGR during the forecast period.
