Industrial IoT in CI expected to grow to $21 bn by 2027

Industry 4.0 evolution and increasing adoption by industrial and manufacturing operators are driving growth and maturity in a decades-old market for industrial cybersecurity. According to new research from global technology intelligence firm ABI Research, worldwide cybersecurity spending for operational technologies and industrial IoT in Critical Infrastructure (CI) is expected to grow to US$21 billion by 2027.

“The cybersecurity industry is now able to adapt their solutions to smart and connected industrial assets more easily,” says Michela Menting, Research Director at ABI Research. “They offer basic protection and provide added value through asset visibility, management platforms, operational intelligence, and greater analytics. All these help operations build and run resilient infrastructures.”

Industry 4.0 facilitates the integration of available cybersecurity technologies through system interoperability, IP/cellular connectivity, use of COTS solutions, as well as digitization of processes and data. The industrial cybersecurity market is expected to shift into high gear in the coming years. In fact, the competitive ecosystem today includes over 225 different vendors and service providers, a testament to a maturing and dynamic market.

CT Bureau