Pune, India, Feb. 21, 2023 (GLOBE NEWSWIRE) -- The data diode solution market size is predicted to reach USD 988.7 million by 2029 and exhibit a CAGR of 12.4% during the projected period. Fortune Business Insights has presented this information in its report titled, "Data Diode Solution Market Forecast, 2023-2029". The market stood USD 392.1 million in 2021 and USD 437.1 million in 2022.
Key Industry Development:
Forcepoint, a global cybersecurity and technology company, launched Forcepoint Data Diode, a hardware solution that enable automated and rapid data flow while ensuring security and compliance. Forcepoint Data Diodes provide versatile, easy-to-use, and cost-effective protection for networks, devices, and other digital assets from external cyber-attacks.
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Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2022 to 2029 |
| Forecast Period 2022 to 2029 CAGR | 12.4% |
| 2029 Value Projection | USD 988.7 Million |
| Base Year | 2021 |
| Data Diode Solution Market Size in 2021 | USD 392.1 Million |
| Historical Data for | 2018 to 2020 |
| No. of Pages | 120 |
| Segments covered | Type, Application and Geography |
| Data Diode Solution Market Growth Drivers | Market Growth will be driven by the Rise in Cyber Attacks on the Oil and Gas Industry |
Key Takeaways:
- Growing Trend of IIoT will Contribute to Market Growth.
- The digitization and penetration of advanced technology in the oil & gas sector has exposed it to a variety of cyber-attacks, including phishing, data breaches, DDoS, and ransomware, among others.
- By Type Analysis: Ruggedized Data Diode to Capture Largest Market Share Owing to its Effective Operating Capabilities in Challenging Environments
- Key Players Are More Focused on Launch of Enhanced Data Diode Solutions and Acquisition Strategies
- Data Diode Solution Market Size in North America was USD 122.2 Million in 2021
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Drivers & Restraints:
- Market Growth will be driven by the Rise in Cyber Attacks on the Oil and Gas Industry
- The oil and gas industry's digitization and adoption of advanced technology have made it vulnerable to a wide range of cyber-attacks, including data breaches, phishing, ransomware, and DDoS.
- Connecting the oil and gas industry to more technologically sophisticated solutions
- IIOT, has certainly increased output and decreased costs eventually leading to the data diode solution market growth.
- However, it has also exposed the industry to potentially fatal cyber-attacks.
Segments:
On the basis of type, the market is divided into regular data diode and ruggedized data diode. On the basis of application, the market is segmented into government, energy & power, manufacturing, oil & gas, aerospace & defense, critical infrastructure, and others (healthcare, and others). Geographically, the market is classified into South America, North America, Europe, and the Middle East & Africa.
Regional Insights:
North America to Account for the Largest Market Share
North America accounted for the largest data diode solution market share and is expected to grow in popularity due to its high level of internet penetration. Cyber-security has become an essential and critical component of regional businesses due to the growth of wireless networks for mobile devices.
Europe is expected to grow at a rapid pace during the forecast period. Cyber security initiatives and investments by major corporations in countries such as France, the U.K., Italy, Germany, and Spain are propelling the data diode solution industry forward.
Over the forecast period, Asia Pacific is expected to have the highest CAGR. To keep up with the growing demand for security, several companies in this region are developing and launching novel cyber security solutions.
Data diode solutions are expected to be in high demand in the Middle East & Africa as well as South American countries. The regional market is expected to accelerate even further due to the strong presence of multiple market players as well as the latest security risks in the region.
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Competitive Landscape:
Key players are primarily focused on developing and delivering various types of data diode solutions. Furthermore, the market's high competition is forcing service providers to focus on acquisition strategies to strengthen their positions.
List of Key Market Players:
- BAE Systems plc (U.K.)
- Belden Inc. (U.S.)
- Siemens AG (Germany)
- ST Engineering (Singapore)
- Advenica AB (Sweden)
- Deep Secure (U.K.)
- Owl Cyber Defense (U.S.)
- Forcepoint (U.S.)
- Fibersystem AB (Sweden)
- Garland Technology (U.S.)
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Major Table of Contents:
- Global Data Diode Solution Market Size Estimates and Forecasts, By Segments, 2018-2029
- Key Findings
- By Type (USD)
- Regular Data Diode
- Ruggedized Data Diode
- By Application (USD)
- Government
- Energy and Power
- Manufacturing
- Oil and Gas
- Aerospace and Defense
- Critical Infrastructure
- Others
- By Region (USD)
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
- North America Data Diode Solution Market Size Estimates and Forecasts, By Segments, 2018-2029
- Key Findings
- By Type (USD)
- Regular Data Diode
- Ruggedized Data Diode
- By Application (USD)
- Government
- Energy and Power
- Manufacturing
- Oil and Gas
- Aerospace and Defense
- Critical Infrastructure
- Others
- By Country (USD)
- United States
- Canada
- Mexico
- South America Data Diode Solution Market Size Estimates and Forecasts, By Segments, 2018-2029
- Key Findings
- By Type (USD)
- Regular Data Diode
- Ruggedized Data Diode
- By Application (USD)
- Government
- Energy and Power
- Manufacturing
- Oil and Gas
- Aerospace and Defense
- Critical Infrastructure
- Others
TOC Continued…
FAQ's
What is the growth rate of the global data diode solution market?
The market is projected to grow at a CAGR of 12.4% between 2022 and 2029.
What is the size of the global data diode solution market in 2022?
The global data diode solution market size in 2022 is USD 437.1 Million.
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