Industrial Control Systems Security Market Size To Reach USD 34.64 BN In 2030 Due To Stringent Government Regulations On Critical Infrastructure Protection To Increase Adoption Of ICS Security Solutions, Says Reports And Data

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Apr 27, 2022, 12:30 ET

NEW YORK, April 27, 2022 /PRNewswire/ -- The global industrial control systems security market size is expected to reach USD 34.64 Billion in 2030 and register a revenue CAGR of 8.5% during the forecast period, according to latest report by Reports and Data. Stringent government regulations on Critical Infrastructure Protection (CIP) to increase the adoption of Industrial Control Systems (ICS) security solutions is a key factor expected to drive market revenue growth during the forecast period.

The rising trend of replacing conventional vehicles with electric vehicles is expected to increase demand for industrial control systems security. Industrial control systems offer possibilities to the automobile sector to respond rapidly to market requirements, expand productivity, enhance efficiency, and decrease manufacturing downtimes. Production facilities of major manufacturers are automated to optimize efficiency, which is expected to have a positive impact on the market. So, increasing demand in the automotive sector is driving revenue growth of the industrial control systems security market.

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Increasing government regulations concerning CIP is expected to drive market revenue growth during the forecast period. Government interventions have created deep concerns about the security of industrial control systems and sensitive information, which is expected to support market revenue growth. In addition, increasing occurrence of cyber incidents may cause substantial income losses, brand damage, loss of customer trust, safety issues, theft of intellectual properties, and even loss of life. Therefore, ICS security protocols are required to defend the ecosystem from any financial, operational, or human losses.

However, lack of collaboration between public and private sectors is limiting expansion of the industrial control systems security. Total cybersecurity requires considerable collaboration between public entities and private companies, along with involvement of local and central governments. However, bringing all stakeholders onto a single platform is a time-consuming task, due to international fragmentation, country-specific agendas, and political differences, which is expected to restrict revenue growth of the market during the forecast period.

Some Key Highlights in the Report

Distributed Control Systems (DCS) segment is expected to register a steady revenue growth rate during the forecast period, due to rising demand in power and energy industries, development of open source DCS solutions, and time and cost-effectiveness provided by these solutions. In addition, expanding industrial infrastructure in emerging markets and growing inclination towards public or private clouds are expected to create attractive prospects for distributed control systems internationally.
The network security segment is expected to register a steady revenue growth rate during the forecast period. The global shift to work from home and the subsequent rise in remote access are increasing enterprise network traffic and the number of devices, which means more exposure to threats, such as malware and ransomware. This is increasing adoption of network security, which is expected to continue throughout the forecast period.

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The market in Asia-Pacific is expected to register a considerably fast revenue CAGR over the forecast period, due to significant growth in the number of cyber-attacks and rising demand for smart technologies in the region. In addition, government support and investments for ICS security in the region is expected to drive market revenue growth in Asia-Pacific during the forecast period.
Companies profiled in the global market report include ABB Group, Airbus SE, Siemens AG, Honeywell International Inc., Cisco Systems Inc., Fortinet, Inc., Palo Alto Networks Inc., Sophos Group plc, BAE Systems plc, CyberArk Software Inc., Kaspersky Lab, and Nozomi Networks Inc.
In July 2021, Sophos, a global leader in next-generation cybersecurity, acquired Braintrace to enhance its threat detection capabilities. Braintrace's Network Detection and Response (NDR) technology will support Sophos' Managed Threat Response (MTR), and rapid response analysts and Extended Detection and Response (XDR) customers through integration into the adaptive cybersecurity ecosystem.

To identify the key trends in the industry, research study at https://www.reportsanddata.com/report-detail/industrial-control-systems-security-market

For this report, Reports and Data has segmented the global industrial control systems security market based on solution, security type, service, system type, end-use, and region:

Solution Outlook (Revenue, USD Billion; 2019-2030)

Identity and Access Management
Anti-malware/Antivirus
Distributed Denial of Service (DDoS) Mitigation
Firewall
SCADA Encryption
Security and Vulnerability Management
Distributed Denial of Service Solution
Security Information and Event Management
Others

Security Type Outlook (Revenue, USD Billion; 2019-2030)

Network Security
Endpoint Security
Application Security
Database Security

Service Outlook (Revenue, USD Billion; 2019-2030)

Consulting and Integration Services
Support and Maintenance Services
Training and Development Services
Managed Security Service
Incident Response Services

System Type Outlook (Revenue, USD Billion; 2019-2030)

Supervisory Control and Data Acquisition (SCADA)
Distributed Control Systems (DCS)
Programmable Logic Controllers (PLC)
Others

End-Use Outlook (Revenue, USD Billion; 2019-2030)

Power
Energy and Utilities
Transportation
Manufacturing
Mining
Water Utility
Chemical
Others

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Regional Outlook (Revenue, USD Billion; 2019-2030)

North America
a. U.S.
b. Canada
c. Mexico
Europe
a. Germany
b. UK
c. France
d. Italy
e. Spain
f. Sweden
g. BENELUX
h. Rest of Europe
Asia-Pacific
a. China
b. India
c. Japan
d. South Korea
e. Rest of APAC
Latin America
a. Brazil
b. Rest of LATAM
Middle East & Africa
a. Saudi Arabia
b. UAE
c. South Africa
d. Israel
e. Rest of MEA

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About Reports and Data

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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