Market intelligence firm Visiongain has published a study analysing the global market for critical infrastructure protection.
The firm forecast an 11.7% annual growth rate of the market between 2020 and 2030.
Revenue generation is expected to increase from $18.07 billion in 2020 to $55.0 billion by 2030.
Driving the market growth include an increase in investments by emerging countries like India and an increase in demand for cybersecurity, surveillance and access control systems and technologies.
Key market trends include:
- There will be growth in established critical infrastructure protection markets and in developing countries alike.
- Geopolitical tensions and terrorist threats worldwide, coupled with development in cybersecurity and physical security technology will continue to influence the market.
- Organisations hold the greatest potential. Government agencies and energy infrastructure industries are more susceptible to such outbreaks,
- An increase in cybersecurity and physical security threats including terrorism and natural hazards.
- Worldwide modernisation programmes of national infrastructure will increase.
- Persistent divide between regulated and unregulated markets.
- Stringent government regulations and increasing adoption of best practices for critical infrastructure protection.
Market challenges include:
- The high cost of implementation.
- Distributed facilities pose a challenge in the implementation of comprehensive security solutions.
Click here for more information about the study.