DUBLIN, Jan. 26, 2024 /PRNewswire/ — The “Critical Infrastructure Protection (CIP) Market 2024-2034” report has been added to  ResearchAndMarkets.com’s offering.

Revenue for the Critical Infrastructure Protection Market, in terms of value surpassed US$140 billion in 2023, with strong revenue growth through to 2034. 

Growing Infrastructure Development to Drive the Market

According to a report by the Asian Development Bank, developing nations in Asia and the Pacific must invest $26 trillion, or $1.7 trillion, annually in infrastructure between 2016 and 2030 in order to combat climate change, end poverty, and preserve the region’s economic momentum. Although it has rapidly developed, Asia and the Pacific’s developing nations’ infrastructure still falls well short of what is needed.

Approximately 300 million Asians lack access to safe drinking water, 1.5 billion lack basic sanitation, and over 400 million do not have access to power. Power interruptions impede economic growth in several nations. The daily costs of city traffic congestion alone to economies are enormous because of lost production, wasted fuel, and stress on people.

High Cost Associated with Critical Infrastructure Protection Systems

Critical infrastructure protection often requires cutting-edge technology, including advanced sensors, surveillance systems, intrusion detection and prevention systems, and communication networks. Developing and implementing these sophisticated technologies can be expensive. The development of security solutions for critical infrastructure involves extensive research and development efforts to stay ahead of evolving threats. These costs are typically passed on to end-users, contributing to higher prices.

Each critical infrastructure has unique characteristics and requirements. Security solutions must be customized and integrated to address specific vulnerabilities and challenges in a particular environment. This customization increases the overall cost of implementation. Critical infrastructure protection solutions must comply with various regulatory standards and requirements. The process of ensuring compliance often involves additional costs, including certification processes and audits to meet industry and government standards.

Key Market Dynamics

Market Driving Factors

• Growing Cyberattacks to Drive Critical Infrastructure Protection Industry
• Government Initiatives to Protect Critical Infrastructure
• Growing Infrastructure Development to Drive the Market

Market Restraining Factors

• Lack of Trained Cybersecurity Professionals to Analyze Critical Infrastructure Protection Systems
• High Cost Associated with Critical Infrastructure Protection Systems

Market Opportunities

• Increasing Usage and Adoption of Internet of Things (IoT)

Forecasts to 2034 and other analyses reveal commercial prospects

• In addition to revenue forecasting to 2034, this new study provides you with recent results, growth rates, and market shares.
• You will find original analyses, with business outlooks and developments.
• Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints, and challenges), porters five forces analysis, PEST analysis, and recent developments.

Segments Covered in the Report

Component Outlook

• Hardware
• Software
• Services

Security Type Outlook

• Physical Safety and Security
• Cybersecurity

System Type Outlook

• Perimeter Surveillance
• Inner Area Surveillance
• UAVs
• Counter UAV
• Others

Vertical Outlook

• Financial Institutions
• Government
• Defense
• Transport and Logistics
• Energy and Power
• Others

Leading companies profiled in the report

• Airbus
• BAE Systems
• General Dynamics Corporation
• General Electric Company
• Hexagon AB
• Honeywell International Inc.
• Indra Sistemas
• Johnson Controls
• L3Harris Technologies
• Leidos Holdings
• Leonardo
• Lockheed Martin Corporation
• Northrop Grumman Corp.
• Raytheon Technologies Corporation
• Saab AB
• Thales

The report provides you with the following knowledge:

• Revenue forecasts to 2034 for Critical Infrastructure Protection Market, 2024 to 2034 Market, with forecasts for vertical, component, security type, system type, and each forecast at a global, and regional level – discover the industry’s prospects, finding the most lucrative places for investments and revenues.
• Revenue forecasts to 2034 for five regional and 16 key national markets – See forecasts for the Critical Infrastructure Protection Market, 2024 to 2034 market in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Also, market size estimation and forecast is provided for US, Canada, Mexico, Brazil, Germany, Spain, Italy, France, China, India, Japan, and Australia among other prominent economies.
• Prospects for established firms and those seeking to enter the market – including company profiles for 16 of the major companies involved in the Critical Infrastructure Protection Market.

For more information about this report visit https://www.researchandmarkets.com/r/iwwl9b

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SOURCE Research and Markets