The Cyber security in robotics market is poised for substantial growth, with a consistent Compound Annual Growth Rate (CAGR) of 11.7% expected during the forecasted period. In 2023, the market is projected to generate revenues of approximately US$ 3.8 billion, and this figure is anticipated to surge to US$ 11.6 billion by 2033.
The market research report highlights that the increasing adoption of robotics and autonomous machinery is driving end users to seek cybersecurity solutions. Additionally, artificial intelligence is being incorporated into robotics to streamline various industries. The growing popularity of robotics and automated tools is gaining traction among older individuals.
Robots are prone to cyber-attacks at application, firmware/OS, and hardware levels. Therefore, the need for cyber security management services is increasing tremendously. Alongside this, the higher penetration of artificial intelligence, machine learning, robotics, and automation in all other verticals is fuelling the demand for cyber security in robotics. The companies strengthening their security wall through the adoption of robotic cyber-security solutions. Also, cyber safety and security through inbuilt systems are transforming the market growth.
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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.
Gains Upheld by the Manufacturing Industry Prioritizing Robotic Security
Security concerns in robotics are increasing, as robots are connected to other robots, enterprises, or to the cloud, which enables access to internal systems and data servers. The data collected by robots is used by manufacturers to maximize production efficiency and improve product quality. To ensure safe production, manufacturers are investing in cyber security solutions such as authentication solutions, encryption solutions, secure communication solutions, and denial of service protection solutions 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 enterprises. Cloud-based security is important in robotics as it provides better tracking and monitoring systems than other security solutions. It also provides real-time firewall and signature updates blocking harmful traffic.
Market Developments:
- In January 2022, Veriff, an identity verification service company collaborated with Starship Technologies. It is a Tallinn-based developer of small self-driving robotic delivery vehicles. The mergers are key to expanding the sales funnel for both brands.
- Japan and the EU Commission teamed up to strengthen their research and innovation activities for enhanced security solutions for robotics and autonomous machines.
- Global X has stated that it had initiated the Global X Robotics & Artificial Intelligence Thematic ETF (BOTZ) fund. The company is a provider of exchange-traded funds based in New York. The fund aided the company in capitalizing on global disruption with numerous technologies.
Leading Key Players:
- McAfee
- Aujas Cyber Security
- TUV Rheinland
- Trojan Horse Security
- Beyond Security
- Alias Robotics
- NTT Data
- Xelium Tech Solution
- Exida
- Skyhopper
- DXC Technology
- Cloud Flare
- Infosec
- Akamai
- Radware
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Cyber Security in Robotics Market Segmentation:
By Solution:
- 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
Key Regions Covered:
- North America
- Latin America
- Europe
- Japan
- Asia Pacific Excluding Japan
- The Middle East and Africa
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