Sales in the global cyber security in robotics market are slated to top US$ 3.5 Bn in 2022. Expanding at a healthy 11.0% CAGR, the market size is projected to total US$ 7.2 Bn by 2029.
The high demand for firewall security services and similar other solutions such as encryption solutions, denial of service protection solutions, and authentication solutions across the globe is likely to propel the growth in this market. This is attributable to the increasing number of cyber-attacks, such as brute force, phishing, spoofing, man-in-the-middle, and robot denial of services.
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Insecure communications, authentication issues, weak default configuration, denial of service attacks, risk and vulnerabilities, and privacy issues have raised several security concerns in robotics. In consequence, the demand for cyber security solutions and services in robotics is increasing to prevent robot from being hacked, monitor the vulnerabilities, prevent the data from being tampered, and to prevent unauthorized access.
According to the FMI report, authentication solution is expected to create an incremental opportunity of ~US$ 1.6 Bn for cyber security in robotics during the forecast period of 2021 to 2029. In addition, denial of service protection solution is expected to witness high adoption rates during the forecast period, due to overloading online services which are vulnerable to DOS attacks. Furthermore, the world is witnessing rapid increase in information security, human safety, data protection which, in turn, is creating potential growth opportunities for the cyber security in robotics market players.
Leveraging Artificial Intelligence and Machine Learning for Cyber Defense
Artificial Intelligence and Machine Learning are being applied across major industries and applications, including the cyber security in robotics. These technologies are used to detect the cyber threats based on analyzing data and identifying a threat before it exploits a vulnerability in the information security in robotics. Moreover, Machine Learning remains a key focus area of companies operating in the cyber security in robotics market, as it enables the robot to predict threat and observe behavior anomalies with more accuracy. Machine learning and artificial intelligence are also used for detecting and tracking the active phishing sources.
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Gains Upheld by Manufacturing Industry Prioritizing Robotic Security
Security concerns in robotics are increasing, as robots are connected to other robots, enterprise, or to the cloud, which enables access to internal systems and data servers. The data collected by robots is used by manufacturers to maximize the production efficiency and improve product quality. To ensure safe production, manufacturers are investing in cyber security solution such as authentication solution, encryption solution, secure communication solution, and denial of service protection solution to protect robots from hacking and to deal with vulnerabilities in the process. Cyber security is a top priority for manufacturers as cyber-attacks on robots can cause them a huge loss in production.
Cloud-based Security in Robotics
The data gathered by robots in different sectors can be stored on the cloud and can be used in the future. This ensures productivity growth and lower costs for enterprise. Cloud-based security is important in robotics as it provides better tracking and monitoring system than other security solutions. It also provides real-time firewall and signature updates blocking harmful traffic.
- Authentication
- Secure Communication
- Encryption
- Denial of Service Protection
- Risk & Vulnerability Management
By Services:
- Security Testing
- Upgradation & Patch Management
- Security Assessment
By Type:
- Industrial Robot
- Medical Robot
- Collaborative Robot
- Defense Robot
- Others
By Region:
- North America
- Latin America
- Western Europe
- Eastern Europe
- Asia Pacific excluding Japan
- Japan
- Middle East & Africa
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Key Questions Answered in the Report
- What is the global cyber security in robotics market size?
- At what rate did the global cyber security in robotics market grow between 2014 and 2021?
- What are the key trends boosting sales of cyber security in robotics?
- Who are the leading cyber security in robotics market players?
- What is the share of the industrial robot segment in the cyber security in robotics market?
- What is the share of the defense robot type segment in the cyber security in robotics market?
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