Industrial Control System (ICS) Security Market 2019 Global Size, Share, Key Players Analysis, Business Strategy, Emerging Technologies, Future Prospects and Potential of Industry 2023

September 07 09:28 2019
Industrial Control System (ICS) Security Market 2019 Global Size, Share, Key Players Analysis, Business Strategy, Emerging Technologies, Future Prospects and Potential of Industry 2023

Market Research Future
Market Research Future published a research report on “Industrial Control System (ICS) Security Market Research Report- Global Forecast 2023” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2023.

Market Analysis

The global industrial control system (ICS) security market is predicted to grow at a 6.81% CAGR over the forecast period (2018-2023), reveals the latest Market Research Future (MRFR) report. An ICS system is used to monitor industrial processes. It gives operators an easy means to monitor, manage, and also control industrial processes. ICS systems ensure that operation runs smoothly, and problems are detected on time. From pressure gauges to control valves, an industrial control system sends commands and gets alerts from various components.

Various factors are driving the growth of the Industrial Control System Security Market. These factors, in accordance with the Market Research Future (MRFR) report, include growing incidences of security breach in ICS, huge investments in Industry 4.0, favorable government initiatives for operation, security, and maintenance of critical infrastructure, convergence of OT and IT, and deployment of tablets, smartphones, and cloud in ICS and SCADA.

On the contrary, lack of awareness about ICS security, complexity in installation as well as upgradation of security systems, lack of expertise, and legacy control systems that are susceptible to cyber threats are factors that may hamper the industrial control system security market growth over the forecast period.

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Key Players

The prominent players in the Industrial Control System (ICS) Security Market are – Cisco Systems Inc. (U.S.), Honeywell International Inc. (U.S.), Juniper Networks Inc. (U.S.), (U.S.), Siemens AG (Germany), Rockwell Automation Inc. (U.S.), Tofino Security Inc. (Canada), Trend Micro Inc. (Japan), Check Point Software Technologies Ltd. (U.S.), ABB Ltd. (U.K.), among others.

Market Segmentation

The Market Research Future report offers a wide segmental analysis of the industrial control system security market based on vertical, control system type, solutions, and service.

Based on control system type, the industrial control system security market is segmented into SCADA, DCS, PLC, and others. Of these, the SCADA control system will have the largest share in the market over the forecast period. It is expected to touch USD 6 billion.

Based on vertical, the industrial control system security market is segmented into transportation, energy and power, manufacturing, food and beverage, and others. Of these, the energy and power segment will dominate the market over the forecast period.

Based on service, the industrial control system security market is segmented into communication services, change in management, risk management, managed support, and other services. Of these, the risk management service will lead the market over the forecast period.

Based on the solution, the industrial control system security market is segmented into antivirus and data loss prevention, unified threat management (UTM), Firewall, and distributed denial of service (DDOS).

Regional Analysis

Based on the region, the industrial control system security market report covers growth opportunities and the latest trends across South America, Asia Pacific (APAC), North America, Europe, and the Middle East and Africa (MEA). Of these, North America will have a lion’s share in the market over the forecast period. It is predicted to grow at a 5.59% CAGR. Countries such as Canada as well as the US are early adopters of these security solutions that favors prompt market growth in the region. Moreover, susceptibility to cyber-attacks of high-profile has made industrial control system security a priority.

The industrial control system security market in Europe will have the second largest share in the market over the forecast period due to growing cyber-attacks.

The industrial control system security market in the APAC region is predicted to grow at the fastest pace over the forecast period. This is owing to increasing industrial automation in India, Japan as well as China.

In the Middle East and Africa, the industrial control system security market is predicted to have a healthy growth over the forecast period. This is owing to the wide-scale use of such security solutions in almost every vertical to protect the applications, network infrastructure, and other types of infrastructure against vulnerabilities along with protecting attackers against exploiting security flaws to access critical information through illegal means.

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Intended Audience

  • Consulting firms
  • Government organizations
  • IT industry
  • Security service providers
  • Security service vendors
  • Research organizations
  • Technology end users

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