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(Hosting-NewsWire.com, March 24, 2020 ) According to a new market research report "Critical Infrastructure Protection Market by Security Technology (Network Security, Physical Security, Radars, CBRNE, Vehicle Identification Management, Secure Communication, Scada Security), Service, Vertical, and Region - Global Forecast to 2022", published by MarketsandMarkets™, the Critical Infrastructure Protection (CIP) market size to grow from USD 110 billion in 2017 to USD 153 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 6.8% during the forecast period.
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The CIP market includes various security technologies, which are essential for safeguarding critical assets, enterprises, and territories from physical attacks and cyberattacks. Increased instances of physical attacks, such as terrorist activities, thefts, intrusion drones, and cyberattacks, have driven the need for large-scale adoption of CIP security devices and services. Moreover, stringent government regulations and increasing adoption of best practices for CIP are expected to drive the market growth during the forecast period.
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Among security technologies, the physical security segment is projected to have the largest market size during the forecast period. The growing instances of physical attacks and natural disasters on industrial plants, oil fields, and ports have necessitated the deployment of physical security systems and solutions. These systems/solutions safeguard personnel, data, systems, and assets from intruders and, thereby, help protect the confidential information of organizations.
The transportation systems vertical to grow at the highest CAGR during the forecast period
Among verticals, the transportation systems vertical is expected to grow at the highest CAGR from 2017 to 2022, due to increased instances of terror attacks, pirate activities on international waters and ports, and cyber threats due to malware, viruses, and persistent adaptive threats.
North America to contribute to the highest market share during the forecast period
North America is expected to have the highest market share and dominate the CIP market from 2017 to 2022. North America is always under threat from criminals and cyberattackers, which can disrupt the functioning of critical infrastructural assets. To counter such attacks, the government is taking strict actions/initiatives to protect its assets. Surveillance measures in public places and industrial sites have been tightened. Moreover, various airports, marine ports, and border control areas have started adopting biometrics for access control.
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The major vendors in the CIP market include General Dynamics (US), Honeywell (US), Lockheed Martin (US), Northrop Grumman (US), Raytheon (US), Airbus (Netherlands), Hexagon AB (Sweden), Johnson Controls (Republic of Ireland), Thales Group (France), and Teltronic (Spain).
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Mr. Sanjay Gupta
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Northbrook, IL 60062
MnM Blog: https://mnmblog.org
Content Source: https://www.marketsandmarkets.com/PressReleases/critical-infrastructure-protection-cip.asp
Mr. Sanjay Gupta
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