Mary-Louise Hoffman
Research and Markets has published a report that sets a 14.17 percent compound annual growth rate for the global industrial cybersecurity market from 2014 to 2019.
The research firm said Wednesday manufacturing and power generation companies invest in information technology security tools to protect their assets from keyloggers, adware, crimeware and distributed denial-of-service attacks.
Smart grid development projects are forecast to help fuel the market’s growth over the next four years.
The report also cited high IT security platform deployment costs as a factor that could hinder the growth of the industrial cybersecurity sector.
Companies profiled in the report include Airbus Group, Cisco Systems, Honeywell International, IBM, Juniper Networks, Lockheed Martin and Siemens.
