Industrial Cybersecurity CAGR Forecast at 10%
June 2, 2022
cybersecurity spending in industrial critical infrastructure sectors (e.g.,
energy, transport, and water & waste management) is expected to hit US$23
billion by the end of 2022 and grow at a CAGR of 10% to reach US$36.67 billion
Central Banks Embracing Digital Currency: The digitization of a
country’s fiat currency involves the central bank of the economy in question
issuing electronic tokens, instead of the usual process of minting coins and
printing paper bills. There can be no doubt that recent years have seen the
concept of Central Bank Digital Currencies (CBDCs) explored with great intent by
many global economies.
Critical Infrastructures Primed to Adopt Enabling Cybersecurity
Solutions: Industrial operators are increasingly incorporating disruptive
technologies in their migration to Industry 4.0, driving better appreciation of
cybersecurity requirements in of enabling technologies with demand for fast user
switching, hot patching, ICS cloudification, network probes, and secured PLC
programming, among others.
Optimizing Data Security in Telematics to Enable Intelligence-Driven
Monetization: Secure data management for automotive telematics is becoming
increasingly important for vehicle manufacturers (VMs), Tier One suppliers,
telcos and insurance companies. Almost every aspect of the software-defined
vehicle is set to include constantly evolving cybersecurity technologies at the
hardware ,software and network level, with telematics data security being one of
the core operations.
Drive Toward Embedded Cellular Connectivity Continues: With the hyper-connected
world on the horizon, the drive toward embedded cellular connectivity continues,
served via Subscriber Identity Module (SIM) form factors, such as eSIM and
Integrated SIM (iSIM). From consumer electronics, cutting across a variety of
device types from smartphones, tablets, laptops, and wearables to myriad
Machine-to-Machine (M2M) and IoT applications
The Impact of a Remote Workforce: Distributed working environments affect both workers and assets (IT, OT, and the IoT). Secure connectivity and identity management have become key priorities in disparate and heterogenous networks. All these elements are driving demand for hardware security.