The Latin America, Middle East and Africa Industrial Cybersecurity Market would witness market growth of 7.5% CAGR during the forecast period (2020-2026).
Elements like hardware, security software, and applications play a significant role in addressing cyberattacks. For example, the electrical power application includes extremely high-speed processes that are regulated with the help of devices that are manufactured for the emergency protection of power equipment and automation. These devices are interconnected to work together, hence need network security. Generally, network security involves security products and services that are installed to identify and prevent cyber threats in computer networks and network-accessible resources. Network security solutions involve web and e-mail security solutions, antivirus software, firewalls, intrusion detection systems (IDS) and intrusion prevention systems (IPS), encryption software, identity and access management (IAM), united threat management (UTM) solutions, and antispyware software. These solutions assist in protecting data from threats like SQL injection, cross-site scripting attacks, and DDoS attacks.
Networking devices such as routers and industrial Ethernet switches procured the higher revenue share of the industrial cybersecurity market. On the other hand, gateways will display a higher growth rate over the forecast period. With the emergence of IoT-enabled devices and industry 4.0, networks are now more prone to cyberattacks. This has fuelled the demand for safe hardware as well as software. Gateways assist in preventing cyberattacks in SCADA systems by giving access to the user by directly accessing the networks in the industrial zone. With the development of automation and the IoT ecosystem, organizations are creating smart gateways able of encrypting data and data analytics before transferring the data outside a specific network or to the cloud for storage.
Based on Offering Type, the market is segmented into Products and Solution & Services. Based on Security Type, the market is segmented into Network Security, Endpoint Security, Application Security, Cloud Security, Wireless Security and Others. Based on End User, the market is segmented into Power, Utilities, Transportation, Chemicals & Manufacturing and Others. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include ABB Group, IBM Corporation, Honeywell International, Inc., Cisco Systems, Inc., Schneider Electric SE, Rockwell Automation, Inc., Siemens AG, Microsoft Corporation, Palo Alto Networks, Inc. and Broadcom, Inc.
Scope of the Study
Market Segments covered in the Report:
By Offering Type
• Solution & Services
By Security Type
• Network Security
• Endpoint Security
• Application Security
• Cloud Security
• Wireless Security
By End User
• Chemicals & Manufacturing
• Saudi Arabia
• South Africa
• Rest of LAMEA
• ABB Group
• IBM Corporation
• Honeywell International, Inc.
• Cisco Systems, Inc.
• Schneider Electric SE
• Rockwell Automation, Inc.
• Siemens AG
• Microsoft Corporation
• Palo Alto Networks, Inc.
• Broadcom, Inc.
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• Dec 2020
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