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What’s driving the ICS Security Market Growth? | By Key Players: Honeywell International, IBM, FireEye, BAE Systems, Belden, Cisco Systems, McAfee, Raytheon Company

06-12-2019 12:33 PM CET | IT, New Media & Software

Press release from: Global Market Insights Inc.

What’s driving the ICS Security Market Growth? | By Key

North America held the majority share of the ICS security market in 2017 due to the extensive availability of legislative and regulatory policies and guidelines for securing ICS environments. Various government and industry organizations in the U.S. work toward strengthening the cybersecurity framework in industrial sectors by collaborating with industry experts to frame relevant security standards. This strong emphasis on the ICS security has primarily driven the North America ICS security market growth over the past decade.

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The ICS security market is projected to register a CAGR of over 20% between 2018 and 2024. The growth is attributed to the increasing incidents of cyber-attacks on critical infrastructure industries and consistent increase in the number of vulnerabilities detected in ICS components globally with government policies to ensure a robust IT security framework for National Critical Infrastructure (NCI) protection.

The increasing need to secure industrial IT infrastructure from internal threats will contribute to the growing awareness related to ICS security market over the forecast timeline. Using ICS security, companies can minimize the potential exposure to threats arising from internal resources by preventing access violations from unauthorized users. IT administrators can implement policies to determine, who can gain access to the applications and control systems equipment by centrally managing the user authentication and authorization.

The ICS system providers play a critical role in the ICS security market landscape wherein they develop and commercialize advanced solutions as well as focus on developing robust cyber security solutions. These companies combine their long-standing expertise in the fields of industrial automation and process control to provide highly relevant security solutions and services to their customers. Some of these solutions include SCADA encryption, firewalls, identity & access management, virtualization security, endpoint protection, network security, secure media exchange, and managed ICS security services.

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Report Content
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

ICS security market is projected to surpass USD 7 billion by 2024. Industrial control system encompasses different types of control systems in the industrial environment including Distributed Control Systems (DCS), Supervisory Control and Data Acquisition (SCADA) systems, and configurations such as Programmable Logic Controllers (PLC). An ICS comprises different mechanical, pneumatic, electrical, and hydraulic components that function together to facilitate the completion of industrial objectives such as the transportation or manufacturing of energy or matter. It is found in various industries such as power & energy, chemical, water and wastewater, pulp & paper, pharmaceutical, and advanced manufacturing (aerospace, automotive, durable goods, etc.). It plays an important role in the functioning of the critical infrastructures that consist of mutually dependent and highly interconnected systems.

LAMEA ICS security market is projected to register the fastest growth between 2018 and 2024 with a CAGR of around 30%. The key factors that are expected to facilitate this accelerated growth are increasing cyber attacks on oil & gas industries along with the other critical industrial sectors. Recent Triton malware attacks on industrial safety systems in the region in 2017 are examples of evolving cyber threats to the national critical infrastructure in the region.

Browse Full Report: https://www.gminsights.com/industry-analysis/industrial-control-systems-ics-security-market

Some of the key players operating in the ICS Security Market are ABB, BAE Systems, Bayshore Networks, Belden, Cisco, Cyberbit, Dragos, Fortinet, General Electric, Honeywell, IBM, Kaspersky, Nozomi Networks, Rolloos, FireEye, McAfee, Claroty, Raytheon, Schneider Electric, SecurityMatters, Symantec, and Trend Micro.

Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com
Blog: http://solutionrocket.com

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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