Industrial Control Systems Security Market Forecast Revised in a New Reports And Data Report as COVID-19 Projected to Hold a Massive Impact on Sales in 2020 | Long-term Outlook Remains Positive

The major contributing factor for the growth of the market for Industrial Control Systems Security can be increasing adaption of forth industrial revolution, which includes, , cloud computing, the Internet of things, cyber-physical systems and cognitive computing. IT includes computers, storage, networking devices and other physical devices, infrastructure and processes relating applications, to create, process, store, secure and exchange all forms of electronic data, which is integrated with OT, which mainly deals with manufacturing and industrial environments, includes industrial control systems (ICS) such as supervisory control and data acquisition (SCADA).

Market Size - USD 12.7 billion in 2018, Market Growth - CAGR of 6.5%, Market Trends -Increasing demand for cloud-based SCADA/HMI/DCS solutions.

The Industrial Control Systems Security market is expected to grow from USD 12.7 billion in 2018 to USD 19.3 billion by 2026, at a CAGR of 6.5% during the forecast period. Increasing adaption of forth industrial revolution, which includes, cyber-physical systems, the Internet of things, cloud computing and cognitive computing, integration of information technology and operational technology, increasing concerns regarding cyber threats, such as Dugu, Ransomware and Flame, growth of deployment of industrial control systems, increasing demand for cloud based SCADA/HMI/DCS solutions, adoption of smart grid technology, a 2-way digital communication used to supply electricity to the consumers, increasing demand for big data analytics security and collaborations between ICS security and cyber insurance vendors are some of the driving factors of the market.

This is the only report that is inclusive of the current effect of the coronavirus on the market and its forecasted trend. The coronavirus has impacted all sectors of the world economy, and its impacts on the Industrial Control Systems Security market are elucidated in-depth in this report.

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Key players with in Industrial Control Systems Security market are Sophos (US), Check Point Software (Israel), ABB (Switzerland), Cisco (US), McAfee (US), Honeywell (US), FireEye (US), Fortinet (US), Kaspersky Lab (Russia), BHGE (US), Belden (US), BAE Systems (UK), Airbus (France), Bayshore Networks (US), CyberArk (US), Dragos (US), Cyberbit (Israel), Indegy (US), Palo Alto Networks (US), Nozomi Networks (US), Rockwell Automation (US), Positive Technologies (US), SecurityMatters (Netherlands), Schneider Electric (France), Symantec (US), and Waterfall Security Solutions (Israel)

For the purpose of this report, the market has been segmented on the basis of security type, component, industry vertical and regional analysis.

Security type Outlook (Revenue, USD Million; 2018-2026)
Network Security
Endpoint Security
Application Security
Database Security

Component Outlook (Revenue, USD Million; 2018-2026)
Solution
Services

Industry vertical Outlook (Revenue, USD; 2018-2026)
Power
Energy and Utilities
Transportation Systems
Manufacturing
Commercial Buildings
Communication Systems
Healthcare
Others (Remote Surveillance, Weather Forecasting Systems, Emergency Response Systems, and Postal Systems)

The report covers and elucidates how the market fares in the different regions of the world; the regions included in this study are:

Regional Analysis:
North America
Europe
Asia-Pacific
Latin America
Middle East and Africa

The regions are assessed on their capacities to transform into areas where the Industrial Control Systems Security market can flourish and prosper. As of the present speculations, North America and the Asia Pacific region are expected to show exponential growth and expansion. With Europe and Latin America developing a market for the Industrial Control Systems Security.

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Further key findings from the report suggest

The Industrial Control Systems Security market is expected to grow from USD 12.7 billion in 2018 to USD 19.3 billion by 2026, at a CAGR of 6.5% during the forecast period.

The Industrial Control Systems Security market is segmented by security type into network security, endpoint security, application security and database security. The network security type is expected to witness highest growth, at a CAGR of 6.6% during the forecast period, due to excessive use of cloud, mobiles, tablets globally, which makes the network systems more prone to cyber-attacks and network hacking.

The Industrial Control Systems Security Market is segmented by component into solutions and services. The solutions segment is expected to grow with the highest CAGR of 6.8% during the forecast period, due to growth of the encryption solutions sub-segment. Encryption solutions deals with data protection in industries, which is prone to more data thefts and DDoS attacks. Further, the growth of services segment will be driven by the incident response services, since it majorly deals with terrorist and cyber-attacks.

The Industrial Control Systems Security Market is segmented by Geography into North, America, Europe, Asia Pacific and Rest of the World. North America, being a developed region, dominates the market, with a market share of USD 3.9 Billion in the base year, since it focuses on utmost security and is readily adopting new and advanced technologies, like cloud based technologies, big data, IoT and machine learning.

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In the end, the report covers segment data, including industry segment, type segment, channel segment, etc., as well as the segments' market size, both in terms of volume and value. In addition, the report mentions client data from different industries, which is vital to manufacturers. The report has been collated with in-depth secondary research, comprehending the market access aspects across various geographies.

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This release was published on openPR.