Industrial Control Systems Security Market is Expected to Exhibit High CAGR During the Forecast Period 2017 - 2027

Increasing trend of building automation, connected machines as well as remote supervision and control of traditional machinery and equipment have brought about convenience in access and use to various industries in the recent past. However, with high degree of connectivity, organizations are also facing some critical threat about security in regard to industrial control systems (ICS). Industrial control systems are highly prone to cyber-attacks and is, at present, among the top-targeted sectors globally. Malware infections and various cyber-attacks on and SCADA, DCS and PLC systems, among others can result transfer of invalid data and programming sent to controllers resulting into a heavy loss to the organization. Thus companies from various industries are investing significantly in Industrial control systems security solutions to defend the reliability and safety of their industrial control systems and plant operations. Some of the commonly used solutions are distributed denial of service, antivirus/malware, firewall, virtualization security, SCADA encryption, unified threat management and data loss prevention among others.

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Factors such as Increasing of growing threats and attacks and increase in industrial automation and virtualization are thereby driving the market for industrial control systems security. In addition to this, initiative taken by the government in various regions to adoption of smart grids technology as a step towards efficient use of energy is expected to further accelerated demand for industrial control systems security during the forecast period. On the other hand, lack of awareness of industrial control systems, as well as complexity in installation and upgradation of security system may act as a restraint for the industrial control systems security market.

Industrial control systems (ICS) security market can be segmented on the basis of solutions, services, verticals, and regions. On the basis of technology the market can be segmented into distributed denial of service, intrusion detection system/intrusion prevention system, antivirus/malware, firewall, virtualization security, security information and event management, SCADA encryption, unified threat management, update and patch management, data loss prevention, database activity monitoring, and others. The industrial control systems (ICS) security market by services can be segments as audit & report, managed services, risk management services, integration, consulting, and others. Whereas the vertical segment in the industrial control systems (ICS) security market may include oil & gas, chemicals, refining & petrochemicals, energy & power, minerals, mining & metals, and pulp & paper and others. Regionally, industrial control systems (ICS) security market can be segmented into North America, Latin America, Eastern Europe, Western Europe, Asia Pacific excluding Japan, Japan, and Middle East and Africa.

Industrial control systems (ICS) security market is dominated by the North America, and Western Europe region. North America has a wide presence of key industrial control systems (ICS) security providers, as well as U.S. is considered as the high adopter of connected technology. Asia Pacific Excl. Japan as well as Japan region is expected to witness a significant growth in the industrial control systems (ICS) security market. High growth of APEJ is attributed to the growing trend of business automation and the increasing number of cyber-attacks, is leading to high investment on industrial control systems (ICS) security solutions by organizations based in the region. Eastern Europe and Latin America is expected to see a significant growth rate in the industrial control systems (ICS) security market.

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Among the key players involved in industrial control systems (ICS) security market, companies such as Honeywell International, Inc., Siemens AG and ABB Group, among others are focusing on organic as well as inorganic strategies to strengthen their position in the industrial control systems (ICS) security market. For instance, in June 2016, Honeywell Process Solutions (HPS) and Intel Security entered into a partnership to integrate Intel Security’s McAfee technologies with Honeywell’s Industrial Cyber Security Solutions, in order to provide customers with enhanced security software enabling them to protect their control systems from malware and misuse.

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