Latest Industrial Cybersecurity Market by Security type, Grow At Highest Cagr During Forecast Period | IBM Corporation, Honeywell International Inc, CISCO Systems

The ICS market is expected to grow at a CAGR of 5.81% from USD 16.9 billion in 2020 to USD 22.5 billion.Increasing cyber-attacks on various industries to increase the industrial cybersecurity market.

The study includes analysis of the Industrial Cybersecurity Market, with their company profiles, recent developments, and the key market strategies. Industrial Cybersecurity Market report shows the latest market insights with upcoming trends and breakdowns of products and services. This report provides statistics on the market situation, size, regions and growth factors. Industrial Cybersecurity Market report contains emerging players analyze data including competitive situations, sales, revenue and market share of top manufacturers.

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Top Company Profile Analysis in this Report
IBM Corporation (US)
Honeywell International Inc (US)
ABB Ltd (Switzerland)
CISCO Systems (US)
Schneider Electric (France)
McAfee, LLC (US)
Siemens (Germany)
Dell Inc (US)
Symantec Corporation (US)
Rockwell Automation Inc(US)
Kaspersky Lab (Russia)
Fortinet (US)
Palo Alto Networks (US)
Proofpoint (US)
FireEye (US)
Trend Micro(Japan)
Splunk (US)
Broadcom Inc (US)
Microsoft (US)

The study segments the ICS market report into security type (network, endpoint, application, cloud, wireless and others ), offering(products and solutions & services) and end-user (power, utilities, transportation, chemicals & manufacturing and others) .The study also provides market size for various segments regarding four main regions—North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).

Application security refers to the security of software and code from external and internal threats, including web attacks, DDoS attacks, site scraping, and fraud. It involves security policies to protect industrial applications and confidential information from both random and targeted application security attacks. It is a structured practice for the protection of applications, using hardware, software, and operational policies. Application security comprises the protection of SCADA applications and critical controllers, which are responsible for the proper running of industrial processes. A few of the major players who offer application security are Cyber Ark Software Inc. (US), Belden Incorporated (US), and Cisco Systems Inc. (US). Application security is important because more applications are available, nowadays, over various networks that can be connected to the cloud due to which there might be increased attacks and data breaches. Application security is of different types, namely, authentication, authorization, encryption, logging, and application security testing. Application developers that create different applications use application security for testing the software solutions they develop to ensure that there are no vulnerabilities in the newly developed application.

Cyber attacks and threats against critical infrastructure have increased over the years due to the growing use of connected devices and IT systems. Instead of stealing data, digital attackers target to access industrial control systems, such as SCADA, DCS, and PLC, on which organizations rely for managing their industrial processes. Industries such as pharmaceuticals, oil & gas, manufacturing, and electric utilities use control systems. These systems are connected with a large number of sensors with the help of network infrastructure (either wired or wireless systems). Any kind of alteration in control network infrastructure by infrastructure industries to meet their business needs might lead to an increase in cyber attacks.

Based on solutions, the industrial cybersecurity market has been broadly segmented into solutions and services. DDoS, IDS/IPS, firewalls, UTM, antivirus/malware, SIEM, virtualization security, application whitelisting, DLP, update and patch management, and SCADA encryption are some of the key solutions, while managed and professional services are among a few of the major services considered in this chapter. Companies such as IBM Inc. (US), Trend Micro Inc. (Japan), Thales Group (France), AlienVault (US), Positive Technologies (US), and McAfee LLC (US) offer SCADA network security solutions

The ICS market transportation application is expected to grow at the highest CAGR during the forecast period. The growing dependence of people on technologies and web-based applications has led to an increase in the risk of cyber threats. Road, rail, and metro networks are physically integrated with each other and with other modes of transport. In all transportation modes, such as highways, aviation, maritime, surface transportation pipelines and industrial control systems, are used.

Cyber attacks on transportation systems can lead to a delay in operation, theft of data, and passenger injury, among others. With the adoption of new technologies in transportation, the complexity has increased. This has raised security challenges in terms of response to threats and prevention of threats by using the available resources. The Department of Homeland Security (DHS) (US) has introduced several relevant security rules and regulations to secure transportation systems from cyber attacks. Companies such as Transdyn (US) and GE Transportation (US) help transit authorities to control real-time train power control systems, wayside signals, create new train schedules, automatically change tracks, and monitor trains from a single control unit

APAC comprises emerging economies such as China and India. These countries have the presence of a large number of small and medium-sized enterprises (SMEs), which collectively account for the employment of more than 70% of the total population in the countries. These SMEs provide growth opportunities for vendors in the industrial cybersecurity market who provide solutions and services to the customers from the manufacturing, transportation, and energy industries. In the 2017 Union Budget, the Singaporean government announced an investment of USD 1.76 billion in economy strategies for the next 4 years. Some portion of this investment is also dedicated to the Cybersecurity Agency (CSA) of Singapore. However, the need for huge investment associated with the successful deployment of an industrial control system security project restricts SMEs from adopting a strong security practice within their organizations, but factors such as increasing complexity of businesses, rapid shifting toward digitization and virtualization, and growing trend of BYOD are expected to encourage SMEs to adopt various industrial control solutions and services.

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Reasons to buy the report-
The report would help the market leaders/new entrants in this market in the following ways:

This report segments the ICS market comprehensively provides the closest approximations of the overall market size and those of the sub segments across different applications and regions.
The report provides a detailed analysis of the ICS market with the help of competitive leadership mapping,including crucial companies in the market and their relations in the ecosystem.
The report helps stakeholders understand the pulse of the market and provide them information on the key market drivers, restraints, challenges, and opportunities.
This report would help stakeholders understand their competitors better and gain insights to enhance their position in the business. The competitive landscape section includes the competitor ecosystem, product developments, partnerships, and mergers &acquisitions in the ICS market.

Table of Contents in this Report-
1 Introduction
1.1 Study Objectives
1.2 Market Definition And Scope
1.2.1 Inclusions And Exclusions
1.3 Study Scope
1.3.1 Markets Covered
1.3.2 Years Considered
1.4 Currency
Table 1 Currency Table
1.5 Package Size
1.6 Limitations
1.7 Stakeholders
1.8 Summary Of Changes

2 Research Methodology
2.1 Research Data
Figure 1 Industrial Cybersecurity Market: Research Design
2.1.1 Secondary Data
2.1.1.1 List Of Major Secondary Sources
2.1.1.2 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Primary Interviews With Experts
2.1.2.2 Key Data From Primary Sources
2.1.3 Secondary And Primary Research
2.1.3.1 Key Industry Insights
2.1.3.2 Breakdown Of Primaries
2.2 Market Size Estimation
Figure 2 Process Flow
2.2.1 Bottom-Up Approach
2.2.1.1 Approach For Capturing Market Size By Bottom-Up Analysis (Demand Side)
Figure 3 Market Size Estimation Methodology: Bottom-Up Approach
2.2.2 Top-Down Approach
2.2.2.1 Approach For Capturing Market Size By Top-Down Analysis  (Supply Side)
Figure 4 Market Size Estimation Methodology: Top-Down Approach
2.2.2.2 Demand- And Supply-Side Approach Analysis
2.3 Market Breakdown And Data Triangulation
Figure 5 Data Triangulation
2.4 Research Assumptions
Figure 6 Assumptions For Research
2.5 Covid-19 Assumption

3 Executive Summary
Figure 7 Demand For Industrial Cybersecurity Products To Grow At Significant Rate During Forecast Period
Figure 8 Industrial Cybersecurity Market For Services To Grow At Higher Cagr During Forecast Period
Figure 9 Network Security Held Largest Share Of Industrial Cybersecurity Market In 2019
Figure 10 Power Industry To Account For Largest Size Of Industrial Cybersecurity Market In 2025
Figure 11 Industrial Cybersecurity Market, By Region, 2020

4 Premium Insights
4.1 Attractive Opportunities In Industrial Cybersecurity Market
Figure 12 Increasing Government Expenditure To Ensure Cybersecurity And Growing Focus On Integrating Smart Technologies In Industrial Security Systems To Drive Market Growth During Forecast Period
4.2 Industrial Cybersecurity Market, By End-User Industry And Region, 2020
Figure 13 Power Industry To Account For Largest Share Of Industrial Cybersecurity Market In 2020
4.3 Industrial Cybersecurity Market, By Security Type
Figure 14 Network Security To Capture Largest Share Of Industrial Cybersecurity Market In 2020
4.4 Industrial Cybersecurity Market, By Region
Figure 15 North America Held Largest Share Of Industrial Cybersecurity Market In 2019

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 16 Industrial Cybersecurity Market: Drivers, Restraints, Opportunities, And Challenges
5.2.1 Drivers
Figure 17 Industrial Cybersecurity Market Drivers And Their Impact
5.2.1.1 Increasing Investments By Governments Worldwide To Establish Framework For Improving Cybersecurity At Industrial Environments
Table 2 Government Funding Plans To Ensure  Cybersecurity For Critical Infrastructure
5.2.1.2 Growing Number And Sophistication Of Cyberattacks On Industrial Control Systems
Figure 18 History Of Cyberattacks On Different Infrastructures
Figure 19 Prominent Cyberattack Types In 2018
5.2.1.3 Increasing Focus On Integrating Iot Into Industrial Control Systems
Figure 20 Global Iot Connections, 2018–2025 (Billion)
5.2.2 Restraints
Figure 21 Industrial Cybersecurity Market Restraints And Their Impact
5.2.2.1 Underestimation Of Threat Levels And Misunderstanding Of Nature Of Threats
5.2.2.2 Lack Of Adequate Funds, Framework, And Governance Required To Develop Cybersecurity Solutions
5.2.3 Opportunities
Figure 22 Industrial Cybersecurity Market Opportunities And Their Impact
5.2.3.1 Rising Importance Of Cloud-Based Ics-As-A-Service
5.2.3.2 Growing Focus Of Government Organizations To Support Secure Industrial Control Systems
5.2.4 Challenges
Figure 23 Industrial Cybersecurity Market Challenges And Their Impact
5.2.4.1 Lack Of Awareness About Best Practices And Criticality Of Cybersecurity In Industrial Control Systems
Figure 24 Prominent Attacks On Ics Network
5.3 Global Cybersecurity Standards And Frameworks
5.3.1 Isa/Iec 62443 (Formerly Known As Isa-99) – Industrial Network And System Security
5.3.2 National Institute Of Standards And Technology – Sp 800–82 (Nist Sp 800–82) – Guide To Ensure Security Of Industrial Control Systems
5.3.3 International Organization For Standardization 27002 (Iso 27002) – Information Security Standard
5.3.4 Working-Party On Instrument Behaviour M-2784 (Wib M-2784) – Process Control Domain: Security Requirements For Vendors
5.4 Value Chain Analysis
Figure 25 Industrial Cybersecurity Market: Value Chain
5.5 Key Industry Trends In Industrial Cybersecurity Market
Figure 26 Key Trends In Industrial Cybersecurity Market
5.6 Preventive Measures In Industrial Cybersecurity Market
Table 3 Preventive Measures In Industrial Cybersecurity Market
5.7 Covid-19-Related Drivers
5.7.1 Increased Cybersecurity Risks With Working From Home Policy Adopted By Enterprises In Pandemic Situation
5.7.2 High Necessity To Respond Quickly To Potential Cyber Threats During Covid-19 Pandemic
5.8 Covid-19-Related Challenges
5.8.1 Post-Covid-19 Industrial Cybersecurity Posture
5.9 Use Cases
5.9.1 Use Case 1: Honeywell Inc
5.1 Technological Trends In Industrial Cybersecurity
5.10.1 5g Implementation
5.10.2 Artificial Intelligence Deployment

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