DELRAY BEACH, Fla., Oct. 23, 2024 /PRNewswire/ — The global industrial cybersecurity market was estimated to be 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 according to a new report by MarketsandMarkets™. Increasing focus on integrating the Internet of Things (IoT) in Industrial Control Systems (ICS), deployment of artificial intelligence (AI) and generative AI in security solutions, the growing shift towards smart manufacturing, increasing risk of cyberattacks, the rising need to protect critical infrastructure from sophisticated cyber threats, and stringent regulatory compliance in various sectors are the major factors driving the overall market growth.

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Browse in-depth TOC on “Industrial Cybersecurity Market” 230 – Tables73 – Figures331 – Pages
Industrial Cybersecurity Market Report Scope:
Report Coverage
Details
Market Revenue in 2024
$ 84.54 billion
Estimated Value by 2029
$ 135.11 billion
Growth Rate
Poised to grow at a CAGR of 9.8%
Market Size Available for
2020–2029
Forecast Period
2024–2029
Forecast Units
Value (USD Million/Billion)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
By Offering, Security Type, End-user Industry, deployment type, and Region.
Geographies Covered
North America, Europe, Asia Pacific, and Rest of World
Key Market Challenge
Integrating cybersecurity solutions with existing industrial processes
Key Market Opportunities
Increasing demand for automation solutions meeting safety standards
Key Market Drivers
Deployment of AI/Gen AI models in industrial setups
By Security Type, Network security segment to account for the largest market share in 2029.
It is anticipated that network security will dominate the market for industrial cybersecurity throughout the forecast period since it serves as the grounding for protecting linked systems from external threats. When AI and IoT are introduced into enterprises, their networks are threatened by intrusions, which underlines the need to manage data flow between devices and systems. As industrial networks become increasingly complex, companies focus on enhancing network security to safeguard their operations, maintain information integrity, and ensure organizational resilience when facing new and growing threat risks.
By Deployment Type, the Cloud segment is expected to exhibit the highest CAGR between 2024 and 2029.
In the industrial cybersecurity market by deployment type, the cloud segment is expected to have the highest CAGR as more firms achieve cloud adoption for their solutions than on-premises due to factors such as flexibility and cost of acquiring infrastructure. While organizations implement digital strategies and distributed work, cloud security remains an important issue. One of the major reasons that cloud security is rapidly growing is that more important data and critical operations have started storing in the cloud services.
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North America to dominate the market from 2024 to 2029.
North America is anticipated to have the largest share in the industrial cybersecurity industry because of its early adaptation of modern technologies as well as its strong industrial environment. The presence of major industrial cybersecurity players coupled with legal frameworks that put pressure on firms to adopt enhanced security measures are driving the market growth. Furthermore, the increasing trend of cyber threats towards critical infrastructure, such as energy and manufacturing sectors is forcing organizations in North America to embrace more advanced and superior cybersecurity solutions, making the region a leader in the market.
Key Players-
The key companies offering industrial cybersecurity companies include Microsoft (US), IBM (US), Palo Alto Networks (US), ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Rockwell Automation (US), Honeywell International Inc. (US), Fortinet, Inc. (US), and Musarubra US LLC (Trellix) (US).
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SAN JOSÉ, Costa Rica, Oct. 23, 2024 /PRNewswire/ — The Marine Manager technological tool, developed by Global Fishing Watch (GFW), is revolutionizing marine resource protection and management in Costa Rica, Panama, Colombia, and Ecuador. By processing vast datasets—ranging from species telemetry to fishing activity—it enables enhanced safeguarding of protected marine areas.

The platform is an interactive map that utilizes artificial intelligence, big data, scientific input, and user contributions to provide a comprehensive view of the sea. This includes animal telemetry, which tracks the movements of marine species such as sharks, whales, and turtles. It also incorporates environmental layers to visualize underwater mountains, corals, and mangroves.
The platform also includes oceanographic information, such as sea temperature and oxygen concentration, to better understand how climate change affects marine ecosystems. It also monitors fishing activity to detect vessel movements and even potential illegal activities.
“Marine Manager emerges as a mega-platform that allows us to visualize all these different layers of information interactively. This enables the managers of Marine Protected Areas (MPAs) to monitor and better understand what is happening in these zones,” explained Global Fishing Watch’s leader for Latin America, biologist Monica Espinoza, in an interview with EFE.
“Creating an MPA is a huge step, but managing, maintaining, and monitoring them is the big task that follows. Marine Manager supports these efforts by the states,” she added.
In 2004, Costa Rica, Panama, Colombia, and Ecuador created the Eastern Tropical Pacific Marine Conservation Corridor (CMAR), a unique global initiative that promotes the conservation and sustainable use of an area covering over 2 million square kilometers. These countries now use the interactive map to manage their marine resources more efficiently and in a coordinated manner.
Through the Marine Manager portal, CMAR administrators collectively identify areas of interest, improving coordination and information exchange.
This effort also supports the goals of the global 30×30 agreement, which aims to protect at least 30% of the world’s oceans by 2030 to halt the rapid loss of species and protect vital ecosystems.
During the United Nations Biodiversity Conference, held from October 21 to November 1 in Cali, Colombia, CMAR countries will share their experience and success in using these technological tools to protect marine ecosystems and species.
Regional cooperation initially focused on protecting Malpelo and Gorgona Islands (Colombia), Coiba Island (Panama), the Galapagos Islands (Ecuador), and Cocos Island (Costa Rica). However, due to growing concerns about marine conservation, protection has expanded to new areas.
In recent years, the number of marine protected areas has increased from four to ten sites, with stronger safeguards and better connectivity for multiple species. This includes Colombia’s Yuruparí-Malpelo Integrated Management District and Northern Pacific Lomas and Hills Integrated Management District, Costa Rica’s Bicentennial Marine Management Area, and Ecuador’s Hermandad Marine Reserve.
A notable success has been the management plan for Cocos Island, as the Costa Rican government received input from Global Fishing Watch to design the plan with specific measures and use the Marine Manager tool for control and surveillance.
As a result, the Cocos Marine Conservation Area “has generated its own information and has been able to identify that in the first half of 2024, apparent fishing effort (total amount of fishing activity) in the protected area decreased by 91%,” Espinoza said.
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Issued on behalf of Scope Technologies Corp.USA News Group News Commentary
VANCOUVER, BC, Oct. 23, 2024 /PRNewswire/ — In 2024, more than 1 billion records have already been stolen, according to a report from TechCrunch, with this number continuing to climb. Earlier this year, the International Monetary Fund (IMF) raised concerns over the growing threat of cyberattacks, warning that these rising risks could undermine financial stability. The latest IBM 2024 Data Breach Report also highlighted the impact of the cybersecurity skills gap, which contributed to an increase of $1.76 million in average breach costs. Meanwhile, the National Institute of Standards and Technology (NIST) introduced its first set of post-quantum cryptography (PQC) standards to combat the escalating cyber risks as malicious actors gain more advanced tools. To address these challenges, several technology developers are advancing AI-driven and quantum-resistant security solutions to protect data both now and in the future, with recent breakthroughs from key players, including: Scope Technologies Corp. (CSE: SCPE) (OTCQB: SCPCF), International Business Machines Corporation (IBM) (NYSE: IBM), Palo Alto Networks, Inc. (NASDAQ: PANW), Okta, Inc. (NASDAQ: OKTA), and Zscaler, Inc. (NASDAQ: ZS).

The article continued: Analysts from MarketsandMarkets estimate that the Global Cybersecurity Market will expand from US$190.4 billion in 2023 to US$298.5 billion by 2028, growing at a 9.4% compound annual growth rate (CAGR). In comparison, Visiongain Reports forecast even more rapid growth for the Quantum Cryptography market, with a projected 29.3% CAGR extending through 2034, reflecting the increasing demand for advanced cryptographic solutions in the face of evolving cyber threats.
Scope Technologies Launches Subscription Model for Round-Trip Encrypted, Quantum-Resilient Cloud Storage for Individuals and Small Businesses
Scope Technologies Corp. (CSE: SCPE) (OTCQB: SCPCF), a pioneering technology company specializing in quantum security and machine learning (ML), today announced  the official launch of its subscription model, now offering individuals and small businesses full access to its industry-leading round-trip encrypted and quantum-resilient decentralized cloud storage solutions.
This launch further demonstrates Scope Technologies’ dedication to delivering next-generation data security. Through the QSE (Quantum Security Entropy) platform, individuals and small businesses now have access to the same advanced encryption and decentralized storage solutions that Scope provides to mid-sized and enterprise clients, ensuring their data is protected against both current and future cyber threats.
“Data protection should not be a luxury,” said Sean Prescott, Founder and CTO of Scope Technologies. “With this launch, we’re making the same round-trip, quantum-resistant encryption and decentralized storage vaults available to individuals and small businesses that we already provide to mid-sized and enterprise corporations. Now everyone can protect their data from today’s risks and the future challenges posed by quantum computing.”
Scope Technologies has completed updates to its platform and now offers its advanced Quantum Security Entropy (QSE) cloud storage services to individuals and small businesses. These services utilize quantum-proof encryption, employing quantum entropy to generate unbreakable encryption keys that protect data even against future quantum computing threats. The decentralized, immutable storage infrastructure further safeguards data from ransomware, over-encryption, and tampering, providing a significant upgrade over traditional cloud backups.
The platform also supports seamless integration through user-friendly APIs, enabling quick setup and adaptability as business needs evolve. With flexible pricing plans, individuals and small businesses can now access enterprise-grade security, making robust data protection scalable and affordable.
Additionally, the subscription model offers options for enhanced security services, such as increased entropy calls for stronger encryption. Users can easily scale their storage capacity as their demands grow, while maintaining the highest level of data security available.
CONTINUED… Read this and more news for Scope AI at:  https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/
In other industry developments and happenings in the market this week include:
International Business Machines Corporation (IBM) (NYSE: IBM), a leading provider of global hybrid cloud and AI, and consulting expertise, recently announced the launch of its IBM Guardium Data Security Center, providing unified, SaaS-first data security capabilities amid the transformation being witnessed as hybrid cloud-, AI-, and quantum-related risks upend the traditional data security paradigm. The newly launched IBM Guardium Data Security Center allows organizations to protect data in any environment, throughout its full lifecycle, and with unified controls.
“Generative AI and quantum computing provide immense opportunities, but they also bring new risks,” says Akiba Saeedi, Vice President, IBM Security Product Management. “During this transformative time, organizations need to improve their crypto-agility and carefully monitor their AI models, training data, and usage. IBM Guardium Data Security Center – with its AI Security, Quantum Safe, and other integrated capabilities – provides comprehensive risk visibility.”
IBM Guardium Data Security Center also features IBM Guardium Quantum Safe, software that helps clients to protect encrypted data from the potential risk of future cyberattacks driven by bad actors who gain access to cryptographically relevant quantum computers. IBM Guardium Quantum Safe builds upon expertise from IBM Research – including IBM’s post-quantum cryptography algorithms – and IBM Consulting.
Palo Alto Networks, Inc. (NASDAQ: PANW), a global cybersecurity leader, recently announced the launch of new capabilities in its OT Security solution, including the industry’s only fully integrated, risk-based guided virtual patching solution, powered by Precision AI™, the Prisma® Access Browser with Privileged Remote Access and a suite of ruggedized, ML-powered Next-Generation Firewalls (NGFWs) built to withstand harsh industrial settings where traditional firewalls often cannot operate.
“The rise in the frequency and sophistication of OT attacks, often driven by AI, highlights the urgent need for robust, OT-specific security measures,” said Anand Oswal, SVP and GM, Network Security, Palo Alto Networks. “Organizations must implement comprehensive solutions that ensure real-time visibility, end-to-end protection and simplified security management. Palo Alto Networks OT Security solution, powered by Precision AI, secures both OT and converged IT/OT in a consistent way to combat these challenges and protect critical infrastructure.”
Okta, Inc. (NASDAQ: OKTA) and Zscaler, Inc. (NASDAQ: ZS) recently announced four new integrations designed to accelerate their mutual customers’ zero trust transformation, and to improve security posturing and defenses against identity-based threats. By delivering end-to-end, context-aware security, Okta and Zscaler are helping customers reduce risk, improve the user experience, and enable cross-domain response through shared telemetry and threat intelligence.
“The integrations announced today significantly deepen our collaboration with Okta and our commitment to keeping our customers secure,” said Amit Raikar, Vice President, Technology Alliances and Business Development, Zscaler. “Together, we are focused on helping customers strengthen their zero trust security posture in an increasingly complex risk environment, where rigorously managing user identities and enforcing adaptive access controls is more crucial than ever.”
To address challenges in securing remote users, cloud applications, and hybrid IT environments, Zscaler and Okta have developed deep integrations that enhance secure access while minimizing disruptions for users. Their latest collaboration includes adaptive access policies that dynamically adjust based on user risk context, such as password expiration or credential compromise. They also offer step-up authentication for high-risk situations, requiring stronger authentication methods when suspicious behavior is detected. Additionally, Zscaler and Okta provide contextualized security insights by aggregating data from multiple sources, enabling real-time vulnerability management. Finally, their Zero Trust approach offers agentless access to web applications for external users, while streamlining identity and access management for IT administrators through Okta’s Universal Directory.
“In the AI era, the only way to effectively protect customers is by rallying the security ecosystem,” said Stephen Lee, vice president of Technical Strategy and Partnerships at Okta. “Point security solutions address individual areas but don’t integrate with one another, which increases complexity. That’s why Okta and Zscaler have invested in deep integrations that accelerate the zero trust journey and elevate the security posture of our mutual customers worldwide.”
Article Source: https://usanewsgroup.com/2024/04/26/the-currency-of-tomorrow-why-investing-in-cutting-edge-ai-recognition-tech-could-mean-big-money/ 
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