North America Data Diode Security Products Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Type, and Application
- November 2020 •
- 90 pages •
- Report ID: 5999754 •
- Format: PDF
Cyber-security solutions allow firms to ensure business continuity and prevent cybercrimes and malicious threat actors.Industries across all the regions are hugely investing to design innovative security solutions to reduce critical infrastructure vulnerabilities.
Distractions in critical infrastructures of manufacturing, oil & gas, power, and IT can adversely impact economic stability; hence governments across the regions are mandating various rules to protect infrastructure from cyber-attacks.The data diodes play a crucial role in securing the infrastructure of various industries and meet the identified risks, and it offers cyber security solutions and network connectivity.
Thus, growing government rules and policies to design cyber security standards to protect critical infrastructure is surging the growth of the North America market.The protection of critical infrastructure and growing demand for data diode security products in industrial applications are some of the key driving factors for North America data diode security products market.
However, limitation associated with TCP/IP protocol may hinder the growth of the market in some applications. Despite some limitations, the growing trend toward industrial control system is going to boost the data diode security products market. Also, the need of securing critical infrastructure is expected to create a significant demand for data diode security products in the coming years, which is further anticipated to drive the data diode security products market in North America.
In North America, the US is a prominent market for data diode security products, and oil & gas and government sectors hold major opportunities for the market players.The exponential rise in the number of the COVID-19 confirmed cases and related deaths in the country is limiting the activities of corporate and manufacturing sectors, thereby putting restrictions on the production and sales of electronics components.
Additionally, the factory and business shutdowns across the US, Canada, and Mexico are restraining the adoption of data diode security products.North America is a home to a large number of manufacturing and technology companies; thus, the impact of the outbreak is seen quite severe in 2020, and it is likely to continue in 2021.
Hence, the ongoing COVID-19 crisis and critical situation in the US is going to impact the North America data diode security products market growth of in a negative manner for the next few quarters.
Market Overview and Dynamics
The data diode security products market in North America is expected to grow from US$ 76.56 million in 2019 to US$ 104.70 million by 2027; it is estimated to grow at a CAGR of 5.6% from 2020 to 2027. With the increasing use of IoT and internet penetration across various verticals such as oil & gas, power grids, BFSI, government, and manufacturing; businesses are inclined toward the use of industrial control system solutions, which is propelling the demand for industrial control system security measures for protection against cyber-attacks. Technological developments in the industrial control systems empower enhancements in production, efficiency, and safety due to increased use of smart assets and digital communications. This promotes dependency on communication technology, which is pressurizing to optimize cyber security in industrial control systems networks. In order to balance the necessity for communication and security, industries are highly adopting data diodes that offer the most substantial means to protect industrial control systems communications. Thus, the industrial control system industry is expected to provide numerous profitable business opportunities for data diode security products market players during the forecast period.
Key Market Segments
In terms of type, the non-ruggedized data diode segment accounted for the largest share of the North America data diode security products market in 2019. In terms of application, the government segment held a larger market share of the North America data diode security products market in 2019.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the data diode security products market in North America are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are BAE Systems, Belden Inc., Fibersystem AB, Forcepoint, Fox-IT Holding B.V., Owl Cyber Defense, Rohde & Schwarz GmbH & Co.
North America Data Diode Security Products Market Segmentation
North America Data Diode Security Products Market - By Type
• Non-Ruggedized Data Diode
• Ruggedized Data Diode
North America Data Diode Security Products Market - By Application
• Oil & Gas
North America Data Diode Security Products Market - By Country
North America Data Diode Security Products Market - Company Profiles
• BAE Systems
• Belden Inc.
• Fibersystem AB
• Fox-IT Holding B.V.
• Owl Cyber Defense
• Rohde & Schwarz GmbH & Co.