Industrial Control Systems (ICS) Security Market - By Security (Network Security, Application Security, Endpoint Security, Database Security), By Component, By End-use, Industry Analysis Report & Global Forecast, 2023 - 2032

Industrial Control Systems Security Market Size

Industrial Control Systems (ICS) Security Market size surpassed USD 5 billion in 2022 and is poised register 20% CAGR from 2023 to 2032. The rising integration of digital technologies into enterprise processes and industrial infrastructure threats of cyberattacks will boost industry demand.
 

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Increasing cyberattacks in the manufacturing industry will boost industry demand by the end of 2032. With the rising integration of digital technologies into enterprise processes and industrial infrastructure threats of cyberattacks have grown significantly. The sector will constantly grow throughout the forecast period driven by the increasing demand for innovative solutions for the protection of the connected device and the burgeoning popularity of SCADA systems for controlling industrial processes locally and remotely.
 

Lack of skilled workforce to impede the industry growth

The absence of cyber security training among workers in the industrial environment is one of the main factors limiting the expansion of the ICS security market. Only a small percentage of maritime sector crew members undergo cyber security training, and only a small staff is aware of the various cyber dangers to which their systems are susceptible. However, raising awareness and expertise would aid to overcome this business limitation.
 

Industrial Control Systems Security Market Analysis

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The network security industry is predicted to witness 23.5% growth through 2032, owing to its ability to target a wide range of threats and stop them from accessing the user's network. Growing mechanical automation on ships managed by software has resulted in increasing cyber threats affecting network security, among other variables that contribute to cyber dangers on ships and the connected infrastructure.
 

The solution segment is expected to attain 19% gains during 2023-2032 credited to the increase in cybercrimes globally. The majority of OT endpoints are unpatched legacy systems that use specific communication protocols. These solutions becoming more and more interconnected with external systems, they are extremely vulnerable to cyberattacks.
 

The ICS security market from identity and access management solutions is slated to amass a revenue share of more than 28.5% by 2032. The growing acceptance of its ability to reduce identity management expenses and support new business initiatives while also making the organizations more agile.
 

Industrial control systems security market solutions will observe 23.5% growth rate between 2023 and 2032 impelled by the rapid adoption across the transportation industry. Public transportation systems are under more pressure to improve their efficiency and capacity as a result of growing urbanization, raising security concerns about the essential transportation modes, which as a result is driving the industry forward.
 

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The Europe industrial control systems security market size recorded a valuation of over USD 700 million in 2022 and is will grow at nearly 18.5% rate during the forecast timeline. The main reasons propelling industry development are the escalating number of cyberattacks and network security concerns. Moreover, significant investments in smart technology and growing government support for improved security will amplify the sales.
 

Industrial Control Systems Security Market Share

The major players operating in the: ICS security business scenario are:

• Trend Micro Inc
• ABB Ltd
• Belden Inc
• Schneider Electric
• Check Point Software Technologies Ltd
• Accenture plc (Symantec Corporation)
• Rockwell Automation
• Cisco Systems, Inc.Inc.
• FireEye Inc
• General Electric Company
• Honeywell International, Inc
• IBM Corporation, Inc.
• Siemens AG
   

Impact of COVID-19 Pandemic

Cyberattacks have increased as a result of the growing digital adoption by enterprises after the outbreak of the Covid-19 epidemic. This dramatic rise in malicious activity has taken the conventional forms of adversaries seeking financial gain, unauthorized network access for short- and long-term strategic gain, and the dissemination of misinformation for spreading hate. The outbreak has benefited the industrial control systems security market landscape due to increasing demand from businesses rushing and struggling to install systems for remote working in place.
 

This market research report on ICS security includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments:

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Market, By Security

• Network Security
• Application Security
• Endpoint Security
• Database Security

Market, By Component

• Solution
  • Firewall
  • SCADA Encryption
  • Antivirus/Anti-Malware
  • Intrusion Detection & Prevention
  • Identity & Access Management (IAM)
  • Distributed Denial of Service (DDoS) Solution
  • Data Loss Prevention (DLP)
  • Virtualization Security
  • Security Information and Event Management (SIEM)
  • Unified Threat Management (UTM)
  • Others
• Service
  • Managed Service
  • Integration & Consulting
  • Audit & Reporting
  • Risk Management

Market, By Application

• Power and Energy
• Critical Manufacturing
• Mining
• Water Utility
• Transportation
• Chemical
• Others

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada
• Europe
  • UK
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • South Korea
  • Southeast Asia
• Latin America
  • Brazil
  • Mexico
  • Argentina
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE