ICS market is projected to grow at CAGR of 5.8%

NEW YORK, Sept. 23, 2020 /PRNewswire/ --

ICS market is projected to grow at CAGR of 5.8% from 2020 to 2025

The ICS market is expected to grow at a CAGR of 5.81% from USD 16.9 billion in 2020 to USD 22.5 billion. Increasing cyber-attacks on various industries to increase the industrial cybersecurity market.


Read the full report: https://www.reportlinker.com/p05974234/?utm_source=PRN


ICS market for application security expected to grow at highest CAGR during forecast period
Application security refers to the security of software and code from external and internal threats, including web attacks, DDoS attacks, site scraping, and fraud.It involves security policies to protect industrial applications and confidential information from both random and targeted application security attacks.

It is a structured practice for the protection of applications, using hardware, software, and operational policies.Application security comprises the protection of SCADA applications and critical controllers, which are responsible for the proper running of industrial processes.

A few of the major players who offer application security are CyberArk Software Inc. (US), Belden Incorporated (US), and Cisco Systems Inc. (US). Application security is important because more applications are available, nowadays, over various networks that can be connected to the cloud due to which there might be increased attacks and data breaches. Application security is of different types, namely, authentication, authorization, encryption, logging, and application security testing. Application developers that create different applications use application security for testing the software solutions they develop to ensure that there are no vulnerabilities in the newly developed application.

ICS market for solutions & services offering accounted for largest share in 2020
Cyberattacks and threats against critical infrastructure have increased over the years due to the growing use of connected devices and IT systems.Instead of stealing data, digital attackers target to access industrial control systems, such as SCADA, DCS, and PLC, on which organizations rely for managing their industrial processes.

Industries such as pharmaceuticals, oil & gas, manufacturing, and electric utilities use control systems.These systems are connected with a large number of sensors with the help of network infrastructure (either wired or wireless systems).

Any kind of alteration in control network infrastructure by infrastructure industries to meet their business needs might lead to an increase in cyberattacks.
Based on solutions, the industrial cybersecurity market has been broadly segmented into solutions and services.DDoS, IDS/IPS, firewalls, UTM, antivirus/malware, SIEM, virtualization security, application whitelisting, DLP, update and patch management, and SCADA encryption are some of the key solutions, while managed and professional services are among a few of the major services considered in this chapter.

Companies such as IBM Inc. (US), Trend Micro Inc. (Japan), Thales Group (France), AlienVault (US), Positive Technologies (US), and McAfee LLC (US) offer SCADA network security solutions

ICS market for transportation application to grow at highest CAGR during forecast period
The ICS market transportation application is expected to grow at the highest CAGR during the forecast period.The growing dependence of people on technologies and web-based applications has led to an increase in the risk of cyber threats.

Road, rail, and metro networks are physically integrated with each other and with other modes of transport. In all transportation modes, such as highways, aviation, maritime, surface transportation pipelines and industrial control systems, are used.
Cyberattacks on transportation systems can lead to a delay in operation, theft of data, and passenger injury, among others.With the adoption of new technologies in transportation, the complexity has increased.

This has raised security challenges in terms of response to threats and prevention of threats by using the available resources. The Department of Homeland Security (DHS) (US) has introduced several relevant security rules and regulations to secure transportation systems from cyberattacks. Companies such as Transdyn (US) and GE Transportation (US) help transit authorities to control real-time train power control systems, wayside signals, create new train schedules, automatically change tracks, and monitor trains from a single control unit

APAC is expected to be the fastest-growing market for ICS during forecast period
APAC comprises emerging economies such as China and India.These countries have the presence of a large number of small and medium-sized enterprises (SMEs), which collectively account for the employment of more than 70% of the total population in the countries.

These SMEs provide growth opportunities for vendors in the industrial cybersecurity market who provide solutions and services to the customers from the manufacturing, transportation, and energy industries. In the 2017 Union Budget, the Singaporean government announced an investment of USD 1.76 billion in economy strategies for the next 4 years. Some portion of this investment is also dedicated to the Cybersecurity Agency (CSA) of Singapore. However, the need for huge investment associated with the successful deployment of an industrial control system security project restricts SMEs from adopting a strong security practice within their organizations, but factors such as increasing complexity of businesses, rapid shifting toward digitization and virtualization, and growing trend of BYOD are expected to encourage SMEs to adopt various industrial control solutions and services.

Breakdown of the profile of primary participants:
• By Company Type: Tier 1 – 30 %, Tier 2 – 38%, and Tier 3 – 32%
• By Designation: C-level Executives – 44%, Directors - 38%, and Others -18%
• By Region: APAC – 30%, North America– 25%, Europe – 26%, and RoW – 19%

The major players profiled in this report include:
• IBM Corporation (US)
• Honeywell International Inc (US)
• ABB Ltd (Switzerland)
• CISCO Systems (US)
• Schneider Electric (France)
• McAfee, LLC (US)
• Siemens (Germany)
• Dell Inc (US)
• Symantec Corporation (US)
• Rockwell Automation Inc (US)
• Kaspersky Lab (Russia)
• Fortinet (US)
• Palo Alto Networks (US)
• Proofpoint (US)
• FireEye (US)
• Trend Micro (Japan)
• Splunk (US)
• Broadcom Inc (US)
• Microsoft (US)

Research Coverage
The study segments the ICS market report into security type (network, endpoint, application, cloud, wireless and others ), offering (products and solutions & services) and end-user (power, utilities, transportation, chemicals & manufacturing and others) . The study also provides market size for various segments regarding four main regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).

Reasons to buy the report

The report would help the market leaders/new entrants in this market in the following ways:
1. This report segments the ICS market comprehensively provides the closest approximations of the overall market size and those of the subsegments across different applications and regions.
2. The report provides a detailed analysis of the ICS market with the help of competitive leadership mapping, including crucial companies in the market and their relations in the ecosystem.
3. The report helps stakeholders understand the pulse of the market and provide them information on the key market drivers, restraints, challenges, and opportunities.
4. This report would help stakeholders understand their competitors better and gain insights to enhance their position in the business. The competitive landscape section includes the competitor ecosystem, product developments, partnerships, and mergers & acquisitions in the ICS market.

Read the full report: https://www.reportlinker.com/p05974234/?utm_source=PRN

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

__________________________
Contact Clare: [email protected]  
US: (339)-368-6001
Intl: +1 339-368-6001  

SOURCE Reportlinker

Related Links

www.reportlinker.com