The global industrial cybersecurity market was valued at USD 84.54 billion in 2024 and is projected to reach USD 135.11 billion by 2029; it is expected to register a CAGR of 9.8% during the forecast period.
Increasing integration of industrial Internet of Things (IoT) in industrial control systems, deployment of AI/Gen AI in security solutions, stringent regulatory compliance from various end-user industries such as healthcare & lifesciences, growing need to protect critical infrastructure, and increasing cyber threats across various industries are the major drivers contributing to the market growth.

“The SCADA (Supervisory Control and Data Acquisition) solution type segment is expected to grow at the highest CAGR during the forecast period.”
The SCADA (Supervisory Control and Data Acquisition) market is poised for the fastest growth by 2029. SCADA plays an integral part in safeguarding critical infrastructure such as water facilities and industrial production. With the development of technology and industries’ reliance on digital systems, the demand for monitoring systems for automation and management of business operations, even in remote locations is on the rise. Moreover, in light of advancing cyberattacks, it has become important to secure SCADA systems, which has resulted in system upgrades thereby increasing market growth.

The solutions segment is likely to lead the industrial cybersecurity market during the forecast period
By offering, solutions are likely to dominate the market between 2024 and 2029 because they combine both hardware and software, offering a complete package to address specific industrial needs. Companies favor these integrated solutions because they provide a cohesive setup that can be easily deployed and managed within their existing infrastructure. Integrating software and hardware components can help businesses increase functionality and operational efficiency. Additionally, these solutions are designed to grow with technological improvements, which makes them a more scalable and sustainable choice for businesses looking to meet present demands and future-proof their operations.

“China is likely to grow at the highest CAGR during the forecast period.”
China is likely to expand at the fastest CAGR between 2024 and 2029. The country has one of the biggest manufacturing hubs and is a leader in adopting modern technologies like artificial intelligence and 5G. Moreover, government regulations have a major influence on the uptake of cutting-edge technologies like cybersecurity and smart manufacturing. China has a large market along with a strong focus on digital integration and industrialization and is therefore positioned to be a significant player with substantial growth potential in the near future.

Breakdown of primaries
The study contains insights from various industry experts, ranging from component suppliers to Tier 1 companies and OEMs.

The break-up of the primaries is as follows:

  • By Company Type - Tier 1 – 55%, Tier 2 – 25%, Tier 3 – 20%
  • By Designation- Directors - 50%, Managers – 30%, Others - 20%
  • By Region- North America - 40%, Europe - 35%, Asia Pacific - 20%, RoW - 05%


The industrial cybersecurity market is dominated by a few globally established players such as Microsoft (US), IBM (US), ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Rockwell Automation (US), Honeywell International Inc. (US), Fortinet, Inc. (US), and Musarubra US LLC (US) among others and the study includes an in-depth competitive analysis of these key players in the industrial cybersecurity market, with their company profiles, recent developments, and key market strategies.

Research Coverage:
The report segments the industrial cybersecurity market and forecasts its size by offering, deployment type, solution type, security type, end-user industry, and region. The report also discusses the drivers, restraints, opportunities, and challenges pertaining to the market. It gives a detailed view of the market across four main regions?North America, Europe, Asia Pacific, and RoW. Supply chain analysis has been included in the report, along with the key players and their competitive analysis in the industrial cybersecurity ecosystem.

Key Benefits to Buy the Report:

  • Analysis of key drivers (Rising government and private investments to create a safe and secure industrial environment, Deployment of AI/Gen AI in security solutions, Growing number of sophisticated cyberattacks on critical industrial infrastructure, Increasing focus on integrating Internet of Things into Industrial Control Systems, Rise of IoT and Industry 4.0 Initiatives). Restraint (Underestimating threat levels and misunderstanding the nature of cyber-attacks, Lack of adequate funds, framework, and governance required to develop high-end cybersecurity solutions, Integrating cybersecurity solutions with existing industrial processes), Opportunity (Rising importance of cloud-based industrial cybersecurity services, Growing focus of government organizations on establishing rules and regulations for security of industrial control systems (ICS), Growing investment in ICS security presents opportunities for innovation), Challenges (Lack of awareness about best practices and criticality of cybersecurity in industrial control systems, Differing practices and priorities in OT and IT security to pose challenges)
  • Product Development/Innovation: Detailed insights on upcoming technologies, research and development activities, and new product launches in the industrial cybersecurity market.
  • Market Development: Comprehensive information about lucrative markets – the report analyses the industrial cybersecurity market across varied regions
  • Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the industrial cybersecurity market.
  • Competitive Assessment: In-depth assessment of market shares, growth strategies, and offerings of leading players like Microsoft (US), ABB (Switzerland), Musarubra US LLC (US), Cisco Systems Inc. (US), Honeywell International Inc. (US), IBM (US), Fortinet, Inc. (US), Rockwell Automation (US), Schneider Electric (France), Siemens (Germany), Palo Alto Networks (US), Dell Inc. (US) among others in the industrial cybersecurity market.