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Construction Cybersecurity Market Trends

Report ID: GMI11289
Published Date: Sep 2024
Report Format: PDF

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Construction Cybersecurity Market Trends

The growing integration of IoT devices and connected technologies on job sites to enhance efficiency and productivity is a major trend witnessed in the market. Construction companies are using smart sensors, connected heavy machinery and drones for monitoring and automation. The adoption of these technologies enhances operations, however, makes cybersecurity a major concern. This has increased the demand for cybersecurity solutions that can protect these connected devices from cyber threats, resulting to the development of specialized IoT security measures for construction environments.

Building Information Modeling (BIM) is a crucial technology in modern construction, providing a digital representation of a project's physical and functional features. Governments are pushing for more BIM adoption through various initiatives and regulations. For instance, in June 2024, the UK Government has come up with directives for all public sector projects that are valued at over USD 6.5 million to use BIM Level 2 compulsorily by 2025. However, BIM involves sharing a lot of sensitive data among various stakeholders, making it a target for cyberattacks. The need to protect BIM data is driving demand for specialized cybersecurity solutions to ensure the integrity and confidentiality of project information throughout the construction lifecycle.

Authors: Preeti Wadhwani, Aishwarya Ambekar

Frequently Asked Questions (FAQ) :

The market size of construction cybersecurity was worth over USD 6.9 billion in 2023 and is expected to register over 18% CAGR from 2024 to 2032, due to the increased digitalization in the construction industry worldwide.

Construction cybersecurity industry from the large enterprises segment held over 65% share in 2023 and is expected to register an appreciable CAGR from 2024 to 2032, due to handling high-value assets, including intellectual property, proprietary designs, and sensitive client information.

North America construction cybersecurity industry held 40% share in 2023 and is expected to register a commendable CAGR from 2024 to 2032, due to growing adoption of rate of advanced technologies including IoT, BIM and cloud-based project management tools in the region.

Check Point Software Technologies, Cisco Systems, CrowdStrike, Dragos Inc., Fortinet Inc., IBM Corporation, Optiv Security, Palo Alto Networks, Trend Micro, and Trimble Inc., are some of the major construction cybersecurity companies worldwide.