Industrial Control Systems Security Market from 2018 to 2024 By Key Players: IBM, Cisco, ABB, General Electric, McAfee, Cyberbit, Symantec, Belden, Fortinet, Dragos, Schneider Electric, Raytheon, SecurityMatters, Trend Micro, Honeywell

Market Overview: -

According to Global Market Insights, Industrial Control Systems (ICS) Security Market is set to be over USD 7 billion by 2024 growing at a CAGR of over 22% during the forecast period. Enterprises working on critical IT infrastructures are facing challenges, such as cybersecurity attacks, over the last five years. Securing the infrastructure from continuously evolving cybersecurity threats is a major concern for organizations operating in the industries such as energy & utility, telecommunication, oil & gas, mining, transportation, marine, chemical, and manufacturing.

The ICS security market growth is attributed to the rising incidents of security threats from ransomware, unauthorized users, and viruses that affect business operations in the critical infrastructure leading to huge financial losses. The cybersecurity concerns have significantly increased after the Industry 4.0 revolution as the connectivity of ICS equipment to the internet has increased significantly. Furthermore, government initiatives to ensure security of national critical IT infrastructure are fueling the ICS security market growth. Moreover, the ICS security market is projected to grow faster during the timeline due to an extensive adoption of Industrial IoT (IIoT) in the manufacturing sector.

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Top Key Players: -

Some of the leading market players in industrial control systems security include IBM, Cisco, ABB, General Electric, McAfee, Cyberbit, Symantec, Belden, Fortinet, Dragos, Schneider Electric, Raytheon, SecurityMatters, Trend Micro, Honeywell, Nozomi Networks, Claroty, BAE Systems, Kaspersky, FireEye, and Bayshore Networks.

Market share calculation in this report is not done based on companies covered in it. The calculation of industrial control systems 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: -
North America dominated the market with around 50% share in 2017. The availability of stringent standards, regulatory guidelines, and government initiatives in the U.S. is contributing majorly to the market growth.

The Asia Pacific ICS security market is forecast to show an accelerated growth over the period due to the presence of a large number of SMEs focusing on offering solutions to the leading market players.

Furthermore, the rise of urbanization and industrialization in countries including India, Japan, and China is anticipated to assist in the growing demand for ICS security solutions in the region.

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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 endpoint security segment accounted for nearly 40% share in the ICS security market in 2017 owing to the huge adoption of endpoint security solutions for protecting various endpoint equipment in the network. Whereas, the network security segment is expected to witness an accelerated growth at a CAGR of around 26% between 2018 and 2024. The rising incidents of successful cyberattacks over the last five to seven years are contributing to the increasing demand for robust network security platforms. The Petya ransomware and NotPetya malware attack on the U.S. and European industries in 2017 were the major cyberattacks on industrial IT infrastructures, leading to losses of hundreds of millions of dollars.

Identity & Access Management (IAM) market is expected to witness a robust growth at a CAGR of around 25% over the forecast timeline. IAM solutions block unauthorized user access to critical network components. It is estimated that the service segment in the ICS security market will witness the fastest growth at about 35% CAGR during the forecast timeline due to the growing demand for integration and managed services from enterprises for ensuring optimal protection of industrial control environment.

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