Mordor Intelligence: Critical Infrastructure Protection Market Worth $131B in 2020

electricityA report by Mordor Intelligence predicts that the global critical infrastructure protection market will grow at an 8.5-percent compound annual growth rate from $80.5 billion last year to $131.33 billion in 2020.

Mordor Intelligence said the growth will follow developments in smart grid technology, cloud computing and critical infrastructure technology amid the potential impact of cyber attacks or system failures on such assets.

Critical infrastructure in the oil and gas, electricity, agriculture, telecommunications, financial services and other sectors could have serious consequence to the economy, the report noted.

Mordor Intelligence identifies CIP as including control, monitoring, security and emergency response systems powered by technologies such as remote sensing and automation.

These technologies also drive the market alongside increased IT spending, cloud-CIP integration, implementation of policies and regulations as well as the growing number of cyber attacks, the company said.

The company added that the lack of CIP product interoperability and a technical workforce with knowledge of industrial control systems could hinder further market growth.

The report indicated North America as the dominant market with a 34.32-percent share, while the Asia-Pacific region has the highest traction at a growth rate of 9.02 percent.

The report also identified the following key vendors:

  • Aegis Defense Services
  • Ericsson
  • General Dynamics
  • Honeywell International
  • Intergraph
  • Lockheed Martin
  • McAfee

You may also be interested in...

Nuxeo

Nuxeo Obtains HITRUST CSF Certified Status for Content Mgmt Suite

The Health Information Trust Alliance has granted Nuxeo certified status for information security for its cloud-based content management tool offered through the Amazon Web Services platform.

Gremlins Dynetics

Dynetics Concludes Third Flight Test of Gremlins UAV for DARPA

A Dynetics-made unmanned aerial vehicle demonstrated autonomous and manual safety behaviors in a test flight series for the Defense Advanced Research Projects Agency. The Gremlins Air Vehicle, with its corresponding recovery system, performed seven hours of flight in November, at Utah-based Dugway Proving Ground, Dynetics, a Leidos subsidiary, said Wednesday.

Medallia

HHS Taps Medallia to Help Augment Customer Experience in Health Services

Medallia will deliver user experience technology to help the Department of Health and Human Services address health-related public sector issues and augment key services for HHS customers. The company said Thursday it offers a government-tailored platform that helps agencies determine how to improve citizen experience based on feedback data.