Industrial Control System (ICS) Security Market - Global Industry Analysis, Size, Share, Growth Opportunities, Future Trends, Covid-19 Impact, SWOT Analysis, Competition and Forecasts 2022 to 2030
The Global Industrial Control Systems (ICS) Security Market size surpassed USD 5 Billion in 2022 and is poised register 20.0% CAGR from 2022 to 2030.
Industrial Control System (ICS) Security Market Overview:
Industry demand will increase as digital technologies are integrated into enterprise processes and the threat of cyber attacks to industrial infrastructure increases.
Rising cyberattacks in the manufacturing industry will boost industry demand by the end of 2032. As digital technologies are integrated into enterprise processes and industrial infrastructures are under significantly increased threat of cyberattacks. This segment will continue to grow over the forecast period due to increasing demand for innovative solutions for securing connected devices and burgeoning popularity of SCADA systems for controlling industrial processes both locally and remotely.
Industrial Control System (ICS) Security Market size, estimates and forecasts are provided in terms of sales volume (K units) and revenue (million USD), with historical and forecast data for the period 2017 to 2030, with 2022 being considered as the base year. This report segments the global Industrial Control System (ICS) Security Market in detail. Regional market sizes related to products by type, by application, and by player are also delivered. In estimating the size of the market, we took into account the impact of COVID-19 and the Russian-Ukraine war.
Key Market Updates:
- September 2022 Cisco partnered with Radiflow for OT security expertise. Radiflow provides IDS in OT facilities operated by Cisco.
- In April 2022, to increase U.S. government attention on the resilience of cybersecurity and industrial control systems and operational technology (ICS/OT), the Cybersecurity and Infrastructure Security Agency (CISA) issued a Joint Cyber Agency (JCDC) initiative to include industrial controls. Defense Collaborative). Systems (ICS) expert. To do this, CISA has partnered with Honeywell.
- In April 2021, Fortis is collaborating with Darktrace to help detect and respond to attacks across the entire digital infrastructure with Darktrace's Cyber AI, including cloud, SaaS, corporate networks, IoT and industrial control systems.
- In July 2020, Fortinet partnered with Dragos to provide enhanced visibility and detection of IT and ICS threats.
- In June 2020, to protect networks in critical infrastructure from advanced Gen V cyberthreats of all types, Check Point introduced the new 1570R Rugged Security Gateway.
Major Market Segments Covered in Industrial Control System (ICS) Security Market Industry Research:
Market Key Players:
Cisco, Honeywell, Juniper, Siemens, Rockwell, Tofino Security, And Others.
- Unified Threat Management (UTM)
- Data loss prevention
- Distributed Denial of Service (DDOS)
- Change in Management
- Communication Services
- Managed Support
- Risk Management
- Food & Beverage
- Energy & Power
North America dominates the industrial control system (ICS) security market due to the prevalence of improved infrastructure and adoption of advanced technologies in the region.
Asia Pacific is expected to witness significant growth during the forecast period of 2022 to 2029 owing to the acceptance of ICS security systems by various organizations in the region and increasing number of cybercriminals.
- North America
- Rest of North America
- Nordic Countries
- Benelux Union
- The Netherlands
- Rest of Europe
- South Korea
- Southeast Asia
- Rest of Southeast Asia
- Rest of Asia-Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Rest of Latin America
Significant Market Dynamics:
Disruptions in critical infrastructure such as power grids, manufacturing, IT and transportation have serious implications for economic stability, national security, safety and health. Therefore, several governments have established federal laws and policies to develop cybersecurity standards to protect ICS for critical infrastructure. On November 16, 2018, the Cyber Security and Infrastructure Security Agency (CISA) was commissioned by then US President Donald Trump to identify vulnerabilities in national critical infrastructure. Public Safety Canada, a cybersecurity organization, works with critical infrastructure stakeholders to strengthen the security and resiliency of essential assets such as food supply, energy and utilities, public safety systems and ICT.
Similarly, Australia's Critical Infrastructure Act 2018 works with government, regulators and critical infrastructure operators to maintain a critical infrastructure asset register to manage risks associated with Australia's critical infrastructure.
Enterprise scope for smooth and safe operations to implement industrial control system security solutions. This increases infrastructure costs, making it costly for multiple operators. Current ICS security standards require strong multi-factor authentication to ensure that only authorized individuals have physical and logical access to critical assets. Licensing costs, hardware requirements, help desk costs, and maintenance and renewal activities are difficult for critical infrastructure organizations to afford. Especially SMEs with limited or no budget to build secure critical infrastructure. However, organizations are reluctant to adopt ICS solutions for their environments because ICS security environments consist of security solutions such as IAM, DDoS mitigation, IDPS, encryption, and risk and compliance management, which are expensive for businesses.
Industrial control system security services are divided into managed services and professional services. The growing adoption of ICS security solutions is driving demand for these services. Small businesses lack some basic cyber infrastructure for moderately secure operations. But large businesses need seasoned professionals and managed security services. Employees' lack of awareness of security policies and best practices for extracting sensitive attributes from organizations is a boon for cybercriminals and hackers. Organizations have multiple setups, such as personnel to manage a company's Security Operations Center (SOC), and the tough task is to ensure that employees share the same thought process for cybersecurity practices. Most personnel view cyber security training, problem and incident handling, and procedures as a burden. Even with a strong infrastructure, a company will be exposed one way or another unless employees make security policies and procedures a business imperative. This is driving demand for specialized, managed security services to address the complex vulnerabilities of the ICS ecosystem, and could help open up rewarding opportunities for ICS security providers in the near future.
Lack of security professionals is one of the biggest barriers to securing industrial infrastructure. Computer systems known as ICS, which require trained cybersecurity professionals to secure large networks, are empowering the industrial infrastructure sector. Staffing shortages have also been magnified by the interconnectedness of ICS. Nowadays, it is very difficult to find competent cyber security professionals, and countries such as Japan and the United Kingdom are struggling to find them. A study by the Australian Strategic Policy Institute (ASPI) published in 2019 found that Australia's critical infrastructure providers lack OT security skills and are unprepared to respond to critical infrastructure incidents. Despite growing digital market expansion, there is a growing shortage of security professionals to manage critical infrastructure. The need for trained and skilled security professionals to effectively operate ICS security solutions has increased.
Industrial Control System (ICS) Security Market report scope:
Key Takeaways from this Industrial Control System (ICS) Security Market Report
- Estimate Industrial Control System (ICS) Security Market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, applications and by different industry verticals.
- Understand the supply chain in depth on the value growth at each step, in order to optimize value and bring effectiveness in your processes.
- Know the different dynamics affecting the market - challenges, key driving factors and opportunities.
- Get a quick viewpoint on the Industrial Control System (ICS) Security Market entropy - M&A's, deals, partnerships, product launches of all key companies for the historical 5 years.
- Estimate the supply-demand gaps, import-export data and regulatory landscape for more than top 20 countries worldwide for the market.
- Get complete insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.
- Study the sales and distribution channels over key geographies to improve top-line revenues.
Frequently Asked Questions-
What is the CAGR of Industrial Control System (ICS) Security Market?
The Industrial Control System (ICS) Security Market is growing at a CAGR of 20.0% During Forecast Period.
What are the key types of Industrial Control System (ICS) Security Market?
SCADA, DCS, PLC
What are the key applications of Industrial Control System (ICS) Security Market?
Manufacturing, Food & Beverage, Energy & Power, Transportation, Others
Who are the key players in Industrial Control System (ICS) Security Market?Cisco, Honeywell, Juniper, Siemens, Rockwell, Tofino Security, And others.