Critical infrastructure protection: Key market research findings
- Increased adoption of cloud-based solutions
- Growing preference for integrated security solutions
- Key vendors – Axis Communications AB, Robert Bosch, Honeywell, IBM, McAfee, and Symantec
Technavio’s market research analysts predict the global critical infrastructure protection market to grow at a CAGR of more than 13% between 2016 and 2020. The increased adoption of cloud-based services among enterprises is the primary driver for growth in the market. Cloud-based services are deployed for a number of applications such as authentication, video management, and storing biometrics information. The adoption of cloud-based services is on an upsurge in small and medium-sized enterprises compared to large enterprises, due to their cost-effective nature. Furthermore, cloud-based security services offer flexibility and scalability to accommodate the varying needs of consumers. During 2015, the Americas occupied more than 41% of the market space to become the dominant shareholder in the global critical infrastructure protection market. However, the growth of the market in this region is expected to witness a decline because of the early adoption of critical infrastructure protection solutions during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the critical infrastructure segments based on physical security.
“The rise in availability of integrated security solutions is the latest trend in the market. End-users prefer integrated and converged critical infrastructure protection solutions over standalone critical infrastructure protection security solutions as they provide better support and functionality. The reduced overall cost of integrated critical infrastructure protection solutions is expected to increase its adoption amongst consumers in the coming years,” says Amrita Choudhury, Lead Analyst, ICT, Technavio Research.
Currently, the access control systems account for almost 40% of the overall market share to dominate the global critical infrastructure protection market. Access control systems grant access to employees to protected areas only when their identity matches the information stored in the organization’s database. The growth of the access control systems market can be attributed to the increased adoption of access control systems to prevent unauthorized access to data and facilities. The growing adoption of advanced technologies such as multifactor authentication and multimodal biometrics is expected to further fuel growth in this segment by 2020.
The key vendors in the market include Axis Communications AB, Robert Bosch, Honeywell, IBM, McAfee, and Symantec. Due to the presence of several multinational vendors and small regional players, this market appears highly fragmented. Vendors often compete on the basis of product differentiation and service offerings through a unique selling proposition, which will lead to the introduction of new infrastructure security services in the market. The forecast period is also expected to see a number of acquisitions by large vendors.
A more detailed analysis is available in the Technavio report, Global Critical Infrastructure Protection Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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