Cybersecurity protects internet-connected devices, such as hardware, software, and data from various online threats. Businesses require cybersecurity to safeguard their data, intellectual property, and money. The global cybersecurity market size in 2021 was $216.10 billion and is predicted to increase to $478.68 billion by 2030, representing a compound annual growth rate (CAGR) of 9.5% during the 2021-2030 forecast period.
Cybersecurity in the manufacturing sector is becoming increasingly important as cyberattacks are becoming more frequent and severe. Collaborative robots heavily depend on IT to create a fenceless collaborative environment between humans and robots. Cybersecurity threats in collaborative robots are particularly serious because the consequences of an attack can range from data theft to product damage and human injuries.The global collaborative robots market size was $701.56 million in 2021 and is predicted to reach $2506.90 million by 2030, representing a CAGR of 15.2%.