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Cybersecurity in the robotics market

A new market research report by ESOMAR-certified market research and consulting firm, Future Market Insights, on cybersecurity in the robotics market includes industry analysis for 2014-2021 and opportunity assessment for 2022-2029.

As per the findings of the report, the cybersecurity in robotics market reached a value of US$ 3,5 bilion in 2022. Furthermore, the cybersecurity 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 defence and increasing data protection for information security.

Insecure communications, authentication issues, weak default configurations, denial-of-service attacks, risk and vulnerabilities and privacy issues have raised several security concerns in robotics. As a consequence, the demand for cybersecurity solutions and services in robotics is increasing to prevent robots from being hacked, to monitor vulnerabilities, prevent the data from being tampered with and to prevent unauthorised access.

According to the report, authentication solutions are expected to create an incremental opportunity of US$ 1,6 billion 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 a rapid increase in information security, human safety and data protection, which in turn is creating potential growth opportunities for the cybersecurity in robotics market players.

Machine Learning remains a key focus area of companies operating in the cybersecurity in robotics market, as it enables the robot to predict threats and observe behaviour anomalies with more accuracy. Machine learning and artificial intelligence are also used for detecting and tracking the active phishing sources.

This study highlights key opportunities in the cybersecurity in robotics market and finds that the market will grow at a CAGR of about 11% during forecast period.

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