Industrial Control Systems Security Market Size Projected to Reach USD 22.01 Billion By 2028
November 25, 2021
Reports And Data
Industrial Control Systems Security Market USD 13.33 Billion in 2020, CAGR of 6.50%, Market Trends –Increasing demand for cloud based SCADA/HMI/DCS solutions.
NEW YORK, NY, UNITED STATES, November 25, 2021 /EINPresswire.com/ -- The major contributing factor for the growth of the market for Industrial Control Systems Security can be increasing adaption of forth industrial revolution, which includes, , cloud computing, the Internet of things, cyber-physical systems and cognitive computing. IT includes computers, storage, networking devices and other physical devices, infrastructure and processes relating applications, to create, process, store, secure and exchange all forms of electronic data, which is integrated with OT, which mainly deals with manufacturing and industrial environments, includes industrial control systems (ICS) such as supervisory control and data acquisition (SCADA).
The Industrial Control Systems Security market is expected to grow from USD 13.33 Billion in 2020 to USD 22.01 Billion by 2028, at a CAGR of 6.50% during the forecast period. Increasing adaption of forth industrial revolution, which includes, cyber-physical systems, the Internet of things, cloud computing and cognitive computing, integration of information technology and operational technology, increasing concerns regarding cyber threats, such as Dugu, Ransomware and Flame, growth of deployment of industrial control systems, increasing demand for cloud based SCADA/HMI/DCS solutions, adoption of smart grid technology, a 2-way digital communication used to supply electricity to the consumers, increasing demand for big data analytics security and collaborations between ICS security and cyber insurance vendors are some of the driving factors of the market.
Frequent security updates absorbing more power, ICS being prone to security breaches and lack of awareness may be the major restraining factors for the ICS security market.
Players will require increased investments to tackle these restraints and facilitate growth in the coming years. This report comprises drivers, restraints, opportunities, and challenges pertaining to the Industrial Control Systems Security market; and extensive value chain analysis, patent analysis, analysis of the current manufacturing capability and technology status, commercialization potential in different devices, along with market size forecasts till 2026.
Key players with in Industrial Control Systems Security market are Sophos (US), Check Point Software (Israel), ABB (Switzerland), Cisco (US), McAfee (US), Honeywell (US), FireEye (US), Fortinet (US), Kaspersky Lab (Russia), BHGE (US), Belden (US), BAE Systems (UK), Airbus (France), Bayshore Networks (US), CyberArk (US), Dragos (US), Cyberbit (Israel), Indegy (US), Palo Alto Networks (US), Nozomi Networks (US), Rockwell Automation (US), Positive Technologies (US), SecurityMatters (Netherlands), Schneider Electric (France), Symantec (US), and Waterfall Security Solutions (Israel)
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Further key findings from the report suggest
• The Industrial Control Systems Security market is expected to grow from USD 13.33 Billion in 2020 to USD 22.01 Billion by 2028, at a CAGR of 6.50% during the forecast period.
• The major contributing factors for the growth of the market for Industrial Control Systems Security can be increasing adaption of forth industrial revolution, which includes, cyber-physical systems, the Internet of things, cloud computing and cognitive computing, integration of information technology and operational technology, increasing concerns regarding cyber threats, such as Dugu, Ransomware and Flame, growth of deployment of industrial control systems, increasing demand for cloud based SCADA/HMI/DCS solutions, adoption of smart grid technology, a 2-way digital communication used to supply electricity to the consumers, increasing demand for big data analytics security and collaborations between ICS security and cyber insurance vendors
• The Industrial Control Systems Security market is segmented by security type into network security, endpoint security, application security and database security. The network security type is expected to witness highest growth, at a CAGR of 6.6% during the forecast period, due to excessive use of cloud, mobiles, tablets globally, which makes the network systems more prone to cyber-attacks and network hacking.
• The Industrial Control Systems Security Market is segmented by component into solutions and services. The solutions segment is expected to grow with the highest CAGR of 6.8% during the forecast period, due to growth of the encryption solutions sub-segment. Encryption solutions deals with data protection in industries, which is prone to more data thefts and DDoS attacks. Further, the growth of services segment will be driven by the incident response services, since it majorly deals with terrorist and cyber-attacks.
• The Industrial Control Systems Security Market is segmented by industry vertical into power, energy & utilities, transportation systems, manufacturing, commercial buildings, communication systems, healthcare and others (remote surveillance, weather forecasting systems, emergency response systems, and postal systems). The increased cyber threat issues is driving the growth of manufacturing segment which is expected to witness the highest growth at a CAGR of 7.1% during the forecast period and includes manufacturing of chemicals and materials, automotive, mining units, paper and pulp, food and beverages, pharmaceutical, and semiconductor.
• The Industrial Control Systems Security Market is segmented by Geography into North, America, Europe, Asia Pacific and Rest of the World. North America, being a developed region, dominates the market, with a market share of USD 3.9 Billion in the base year, since it focuses on utmost security and is readily adopting new and advanced technologies, like cloud based technologies, big data, IoT and machine learning.
The report “Industrial Control Systems Security Market Global Forecast 2026” is available now to Reports and Data customers and can also be purchased directly at: https://www.reportsanddata.com/report-detail/industrial-control-systems-security-market
For the purpose of this report, the market has been segmented on the basis of security type, component, industry vertical and regional analysis.
Security type Outlook (Revenue, USD Million; 2018–2028)
Component Outlook (Revenue, USD Million; 2018–2028)
Distributed Denial of Service (DDoS) Mitigation
Identity and Access Management (IAM)
Intrusion Detection System/Intrusion Prevention System (IDS/IPS)
Security and Vulnerability Management
Security Configuration Management
Security Information and Event Management (SIEM)
Others (Honeypots/Deception Technology Platforms, Security Patch Management, and Web Filtering)
Consulting and Integration Services
Support and Maintenance Services
Training and Development Services
Incident Response Services
Managed Security Services
Industry vertical Outlook (Revenue, USD; 2018-2028)
Energy and Utilities
Others (Remote Surveillance, Weather Forecasting Systems, Emergency Response Systems, and Postal Systems)
Regional Outlook (Revenue, USD Million; 2018–2028)
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Market Report includes major TOC points:
• Industrial Control Systems Security market Overview
• Global Economic Impact on Industry
• Global Market Competition by Manufacturers
• Global Production, Revenue (Value) by Region
• Global Supply (Production), Consumption, Export, Import by Regions
• Global Production, Revenue (Value), Price Trend by Type
• Global Market Analysis by Application
• Manufacturing Cost Analysis
• Industrial Chain, Sourcing Strategy and Downstream Buyers
• Marketing Strategy Analysis, Distributors/Traders
• Market Effect Factors Analysis
• Industrial Control Systems Security market Forecast
Conclusively, all aspects of the Industrial Control Systems Security market are quantitatively as well qualitatively assessed to study the global as well as regional market comparatively. This market study presents critical information and factual data about the market providing an overall statistical study of this market on the basis of market drivers, limitations and its future prospects.
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