A new market research report by ESOMAR-certified market research and consulting firm on cyber security in robotics market includes industry analysis 2014-2021 and opportunity assessment 2022-2029. As per the findings of the report, the cyber security in robotics market reached a value of ~US 3.5 Bn in 2022. The report investigates and provides critical insights on cyber security in robotics market. Furthermore, the cyber security solution market is expected to experience substantial growth over the upcoming years, due to various factors, such as increasing demand for cloud security in robotics, increasing use of machine learning and artificial intelligence for cyber defense and increasing data protection for information security.
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 market intelligence 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.
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.
This study highlights key opportunities in the cyber security in robotics market and finds that the market will depict growth at a value CAGR of ~11% during forecast period.