16 Business View - May 2015
Opening
Lines
Report: CIP Market to Grow to $114.80 billion
Research and Markets released “Critical Infrastructure
Protection Market by Security Technology by Service,
by Vertical & by Region – Global Forecast to 2019.”
The CIP market size is expected to grow from $72.30
billion in 2014 to $114.80 billion by 2019, at an es-
timated Compound Annual Growth Rate (CAGR) of
9.69% from 2014 to 2019.
The rise in development of automation and ICT de-
pendency, across the verticals, as well as the need for
ensuring cost effective solutions from cyber threats/
attacks is driving the critical infrastructure protection
market. Critical infrastructure security solutions en-
sure cost efficiency and reliability as they deploy both
traditional physical security and the modern cyber
security. Currently the focus of the national and state
governments is to ensure protection to these infra-
structures and therefore prepare themselves for the
present and future.
Applications of the security solutions are getting big-
ger by the day and are applied across all the industry
verticals. CIP solutions blend the traditional security
processes with more sophisticated cyber security so-
lutions, enabling value added business outcomes.
Transportation and energy security are highly prone
to these effects
because of the in-
creasing levels of
dependence on in-
formation commu-
nication technolo-
gies or information
infrastructure. CIP
other than energy
and transport has
a wide portfolio of
applications across
manufacturing and
chemical industry,
sensitive infrastructures such as stadiums, govern-
ment facilities, manufacturing, banking facilities, his-
torical monuments, holy places and defense establish-
ments.
In terms of geographies, North America is the biggest
market in terms of revenue contribution, while Latin
America (LA) and Middle East and Africa (MEA) are ex-
pected to experience increased market traction, dur-
ing the forecast period. Especially countries such as
Saudi Arabia are spending huge amounts on the infra-
structure protection.
