Industrial Cybersecurity Market Analysis

Industrial Cybersecurity Market Analysis

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Based on deployment model, the market is divided into on-premises and cloud. In 2022, the on-premises segment held a market share of over 70%. Partnerships focusing on securing vessels and cyber endpoints are driving the on-premises deployment model adoption in the market. Collaborations between cybersecurity providers and maritime entities also enhance the protection of vessels and associated endpoints.
 

For instance, in September 2023, Dryad Global teamed up with BlackBerry to enhance vessel protection through advanced cybersecurity solutions. Dryad Global utilizes BlackBerry’s Cylance AI technology to elevate maritime cyber endpoint security. This collaboration aims to proactively identify malware, prevent cyberattacks, and optimize bandwidth & connectivity, ensuring a more robust defense against cyber threats for vessels operating in the maritime domain.
 

Based on security, the industrial cybersecurity market is categorized into network security, endpoint security, application security, cloud security, wireless security, and others. In 2023, the network security segment revenue held a market share of 30%. The need to prevent network breaches across industries is driving the network security segment growth. With the rise in cyber threats targeting various industries robust network security measures have become essential.
 

For instance, in October 2023, Kyndryl, an IT infrastructure services provider partnered with Palo Alto Networks to provide end-to-end network and cybersecurity services, including the launch of a new service offering, powered by Prisma SD-WAN for enterprises and Industry 4.0 customers.  Under this partnership, the companies’ combined Palo Alto Networks platform security capabilities with Kyndryl’s advanced?network security services?expertise to build and modernize mission-critical networking for customers across industries.
 

North America led the global industrial cybersecurity market with a major share of over 30% in 2023, due to rapid technological advancements in cybersecurity. Innovations in threat detection, AI-driven security solutions, and real-time monitoring technologies have bolstered defenses against evolving cyber threats. As industries adopt these advanced cybersecurity measures to protect critical infrastructure, the market in North America will expand. The continuous improvement in security technologies has also become a driving force, propelling the regional market forward.