Industrial Control Systems (ICS) Security Market is Booming Worldwide According to a New Research Report

Industrial Control Systems (ICS) Security Market is Booming Worldwide According to a New Research Report

Industrial control systems (ICS) security market, known as one of the most revolutionary segments of the smart and sustainable technologies space, has witnessed massive traction over the past several years, given the growing demand for connectivity to provide support to the complex infrastructure.

Industrial automation and digitization trends have computerized most of the manually- driven, machinery works that have undeniably changed the manner in which operations are now performed. With growing computerization, there is a consequent rise in the number of cyberattacks which is positively influencing business growth.

The industrial control system security segment is likely to grow at an exponential rate during the period of study due to the growing need to secure and protect networks and devices such as desktop PCs, laptops, and mobile devices from cyberthreats. Endpoint security offers an encrypted framework with an aim to protect the network infrastructure from potential threats of cyberattacks and data breaches on network infrastructure that may lead to network malfunction.

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Integrated hardware and software components have become the backbone of industrial units and play an integral role in automating multiple industrial processes. These components mainly include distribution control and supervisory control systems. Any vulnerability or malfunction caused by malware attacks to these components could lead to a substantial financial loss.

In regard to applications, ICS security market is fragmented into critical manufacturing, power and energy, water utility, mining, chemical, and transportation. Out of these, the power and energy application segment managed to dominate global ICS security market share in 2019 and is projected to maintain a stronghold on the market throughout the predicted timeframe. Organizations operating in the energy sector are rapidly implementing robotics and IoT systems in their process. 

However, this trend has made these systems vulnerable to cyber-threats. As a matter of fact, the energy industry is considered to be the most vulnerable sector for ICS attacks and has been listed under one of the most impacted industries over the last five to seven years. As per US ICS-CERT, a total of 509 vulnerabilities were identified across different ICS components in 2019.

List of the Key Companies that are Operating in the Industrial Control Systems (ICS) Security Market. They are as follows:

ABB Ltd., BAE Systems, Bayshore Networks, Inc., Belden, Inc., Check Point Software Technologies Ltd., Cisco Systems, Inc., Cyberbit, Dragos, Inc., FireEye, Inc., Fortinet, Inc., General Electric Company, Honeywell International, Inc., IBM Corporation, Kaspersky Labs, McAfee, LLC, Nozomi Networks, Inc., OT Claroty Ltd., Rolloos Industries B.V., Raytheon Company, Rockwell Automation, Inc., Schneider Electric, SecurityMatters (Forescout Technologies Inc.), Siemens AG, Accenture plc (Symantec Corporation), and Trend Micro, Inc.

On the regional aspect, North America is considered to be a strategical ground for ICS security companies and is forecasted to hold more than 30% of the global market share by the end of 2026. Factors like surging cyberattacks and growing investments across the U.S. oil & gas sector could play a vital role in strengthening the demand for ICS security solutions.

Federal authorities have begun to invest in projects that are geared towards supporting the development of security solutions for industrial infrastructures. Meanwhile, industry players are developing advanced security solutions to minimize cyber threats. Taking April 2020 for instance, Dragos Inc. released its Neighborhood Watch Network Visibility and Threat Detection Services for industrial units, helping the firm offer a comprehensive security solution.

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Table Of Content:

Chapter 5    Industrial Control Systems (ICS) Security Market, By Security Type

5.1    Industrial Control Systems (ICS) Security Market, key trends, by security type

5.2    Network security

5.2.1    Market estimates and forecast, 2015-2026

5.3    Application security

5.3.1    Market estimates and forecast, 2015-2026

5.4    Endpoint security

5.4.1    Market estimates and forecast, 2015-2026

5.5    Database security

5.5.1    Market estimates and forecast, 2015-2026

Chapter 7    Industrial Control Systems (ICS) Security Market, By Application

7.1    Industrial Control Systems (ICS) Security Market, key trends, by application

7.2    Power & energy

7.2.1    Market estimates and forecast, 2015-2026

7.3    Critical manufacturing

7.3.1    Market estimates and forecast, 2015-2026

7.4    Mining

7.4.1    Market estimates and forecast, 2015-2026

7.5    Water utility

7.5.1    Market estimates and forecast, 2015-2026

7.6    Transportation

7.6.1    Market estimates and forecast, 2015-2026

7.7    Chemical

7.7.1    Market estimates and forecast, 2015-2026

7.8    Other applications

7.8.1    Market estimates and forecast, 2015-2026

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