Industrial Control Systems Security Market by Key Players: Cisco, Honeywell, IBM, Schneider Electric, ABB, Cyberbit, Belden, Fortinet, Dragos, Rolloos, Raytheon, SecurityMatters, Trend Micro, Claroty, Symantec

Market Overview:-

Industrial control systems (ICS) security market, tagged as one of the most revolutionary verticals of the smart & sustainable technologies space, has garnered massive remuneration in the recent years, given the increasing demand for network connectivity to support critical infrastructure. Industrial automation and digitization trends have practically computerized most of the machinery and engineering components that have undeniably changed the way operations are now performed but have however increased attack surface areas. Reports in fact claim that the industrial sector witnessed a significant increase in the number of vulnerabilities in ICS between the years 2015 and 2017. It has been estimated that the number of vulnerabilities reported by major companies offering ICS solutions were 115 in 2016 and the number rose to over 197 in 2017.

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The growth in the ICS security industry can be attributed to these rising malware attacks that generally drain the bank accounts, steal identities, and blackmail organizations to bring services to a halt. A significant instance is that of the NotPetya ransomware that shut down several industrial IT networks across the U.S. and Europe. The gigantic outbreak resulted in losses of thousands of millions of dollars for large enterprises, from pharmaceutical company Merck to shipping firm Maersk. WannaCry was another popular ransomware that caused enormous damage, however it was later realized that this unsophisticated attack could have been easily prevented by following the basic IT security practices.

Top Key Players:-

Numerous other leading ICS security industry players like Cisco, Honeywell, IBM, Schneider Electric, and GE Digital are also expected to keep pace with the changing dynamics of cyberattacks while ensuring the delivery of comprehensive security solutions. On grounds of these efforts being undertaken by the industry players to innovate advanced & efficient products, industrial control systems security market is certain to tread along a lucrative roadmap in the years ahead. As per Global Market Insights, Inc., the overall industrial control systems security market size has been forecast to be pegged at USD 7 billion by 2024.

Market share calculation in this report is not done based on companies covered in it. The calculation of ICS security market share is done based on a regional approach and countries covered. On request, additional companies can be covered as well as regional data for particular country / countries can be provided.

Regional Segmentations: -

European nations are also implementing legislations in the wake of cyberattacks such as NotPetya and WannaCry that crippled infrastructure networks by initiating operation shutdowns. The EU Network and Information Security (NIS) Directive is an example of such a legislation that is underway in the UK. Other bodies like the European Union Agency for Network and Information Security (ENISA) have been around for years, offering advice on securing ICS/SCADA systems, ICS testing and ICS attack mitigation.

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Partial Chapter of the Table of Content

Chapter 1. Methodology & Scope

1.1. Methodology
1.1.1. Initial data exploration
1.1.2. Statistical model and forecast
1.1.3. Industry insights and validation
1.1.4. Scope
1.1.5. Definition
1.1.6. Methodology and forecast parameters
1.2. Data Sources
1.2.1. Primary
1.2.2. Secondary
1.2.2.1. Paid sources
1.2.2.2. Public sources

Chapter 2. Executive Summary
2.1. ICS Security industry 360º synopsis, 2013 - 2024
2.1.1. Region trends
2.1.2. Security type trends
2.1.3. Component trends
2.1.4. Application trends

Chapter 3. ICS Security Industry Insights
3.1. Introduction
3.2. Features/benefits of ICS security solutions
3.3. Industry segmentation
3.4. ICS security industry landscape
3.5. Industry ecosystem analysis
3.6. Top 10 threats and countermeasures for ICS security
3.6.1. Social engineering and phishing
3.6.2. Malware infection through internet and intranet
3.6.3. Human errors and sabotage
3.6.4. Infiltration of malware through removable media and external hardware
3.6.5. Technical malfunctions and unavoidable accidents
3.6.6. Control components connected to the internet
3.6.7. Compromising of cloud and extranet components
3.6.8. Intrusion through remote access
3.6.9. Compromising of smartphones in the production environment
3.6.10. DDoS attacks
3.7. IT/OT
3.7.1. OT/IT Convergence
3.8. Technology & innovation landscape
3.8.1. Security-as-Service
3.8.2. AI and machine learning
3.9. Regulatory landscape
3.9.1.1. The ISA/IEC 62443 standard
3.9.1.2. NIST SP 800-53
3.9.1.3. Critical Infrastructure Protection Mandates (NERC)
3.9.1.4. The Security of Network and Information Services Directive (NIS Directive) (EU)
3.9.1.5. IT Security ACT (Germany)
3.9.1.6. Cybersecurity Law (China)
3.10. Industry impact forces
3.10.1. Growth drivers
3.10.1.1. Increasing incidents of cyber-attacks on offshore industrial platforms and marine operations
3.10.1.2. Growing adoption of IIoT
3.10.1.3. Advancements in smart technologies for identity management
3.10.1.4. Government initiatives for ICS security
3.10.2. Industry Pitfalls and Challenges
3.10.2.1. Prevalence of legacy security systems
3.10.2.2. Lack of in-house technical expertise
3.10.2.3. Growing inclination towards renewable energy sources
3.11. Porter’s Analysis
3.12. PESTEL analysis
3.13. Growth potential analysis

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The robust prevalence of incidences similar to the aforementioned has served as a pivotal driver for ICS security market. Owing to these constantly evolving cyberattacks that are becoming more commonplace, security concerns have grown considerably in recent times, resulting into robust demand for ICS security solutions. Speaking of the growth in the commercialization potential, reports claim that the industrial control systems security market bagged USD 1.5 billion for the year 2017 and is expected to thrive further with industry players focusing on strategic collaborations and product innovation trends.

Kepware’s latest release of the KEPServerEX® version 6.5 industrial connectivity platform, in this regard is quite an example of the rising product innovation & diversification trends in the industrial control systems security market. The company’s new product launch demonstrates its commitment to ICS security and its word in providing customers with best tools and services that support defense-in-depth programs. According to reports, the 6.5 version, which existing users can now avail for free, includes features such as enhanced password configuration, greater project file protection, comprehensive secure deployment guidelines, and other updated security components. Kepware, a business arm of PTC, also claims that it will introduce a Shared Responsibility Model that will enable the company to work together with its customers and address security issues experienced by industrial organizations of all sizes.

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