Industrial Control Systems (ICS) Security Market Size By Security Type (Network Security, Application Security, Endpoint Security, Database Security), 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}], Service [Managed Service, Integration & Consulting, Audit & Reporting, Risk Management]), By Application (Power and Energy, Critical Manufacturing, Mining, Water Utility, Transportation, Chemical), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2018 - 2024

Published Date: Jun 2018  |  Report ID: GMI2680  |  Authors: Ankita Bhutani, Preeti Wadhwani

Report Format: PDF   |   Pages: 300   |   Base Year: 2017




Summary Table of Contents Industry Coverage Methodology

Industry Trends

ICS Security Market size crossed USD 1.5 billion in 2017, growing at a CAGR of 20% from 2018 to 2024.
 

Europe ICS Security Market Size, By Region, 2017 & 2024 (USD Million)

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The ICS security market growth is due to rising attacks on industrial computer systems, which can cause huge material loss and production downtime. In 2016, the U.S. had the highest number of internet-accessible ICS components measuring up to 66,500, followed by Germany and France with nearly 13,200 and 7,700 components. ICS is widely used to monitor complex and critical industrial processes for providing power, transport, manufacturing, and other important services. Thus it becomes very important to protect these systems from network vulnerabilities such as phishing, DDoS attacks, and ransomware. Government agencies globally have introduced various regulatory policies & standards to ensure high levels of security to protect critical infrastructure from cyberattacks. For instance, the International Society of Automation (ISA) in 2007 introduced the ISA 99/IEC 62443 standard for securing ICS in operational technology.
 

Industrial Control Systems (ICS) Security Market Report Coverage
Report Coverage Details
Base Year: 2017 Market Size in 2017: 1.5 Billion (USD)
Historical Data for: 2013 to 2017 Forecast Period: 2018 to 2024
Forecast Period 2018 to 2024 CAGR: 20% 2024 Value Projection: 7 Billion (USD)
Pages: 300 Tables, Charts & Figures: 335
Geographies covered (17): U.S., Canada, UK, Germany, France, Italy, Spain, China, Japan, Australia & New Zealand (ANZ), South Korea, India, Brazil, Mexico, Argentina, GCC, South Africa)
Segments covered: Security Type, Component, Application and Region
Companies covered (23): ABB Ltd., BAE Systems, Bayshore Networks, Inc., Belden, Inc., Cisco Systems, Inc., Cyberbit, Dragos, Inc., Fortinet, Inc., General Electric Company, Honeywell International, Inc., IBM Corporation, Kaspersky Labs, Nozomi Networks, Inc., Rolloos Industries B.V., FireEye Inc., McAfee, LLC, OT Claroty Ltd., Raytheon Company, Rockwell Automation, Inc., Schneider Electric, SecurityMatters, Symantec Corporation, Trend Micro Inc.
Growth Drivers:
  • Increasing incidents of cyber-attacks on offshore industrial platforms and marine operations
  • Growing adoption of IIoT
  • Advancements in smart technologies for identity management
  • Government initiatives for ICS security
Pitfalls & Challenges:
  • Prevalence of legacy security systems
  • Lack of in-house technical expertise
  • Growing inclination towards renewable energy sources

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 ICS Security Market, By Security Type

The application security segement is projected to exhibit accelerated growth between 2018 and 2024. Application security involves the use of hardware, software, and other methods to protect applications from cyberattacks. Software applications and internet-enabled devices are integrated into ICS, which have increased the risk of system vulnerabilities. As the applications are becoming widely accessible over the internet, the demand for application security solutions will increase to protect sensitive information and organizations from the costs of cybercrime.
 

 ICS Security Market, By Component

UK Industrial Control Systems (ICS) Security Market Size, By Component, 2017 & 2024 (USD Million)
UK Industrial Control Systems (ICS) Security Market Size, By Component, 2017 & 2024 (USD Million)

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The virtualization security market is projected to witness an accelerated growth from 2018 to 2024 due to the rising adoption of network virtualization technologies, such as Software-Defined Networking (SDN) and Network Functional Virtualization (NFV), among enterprises to increase scalability and reliability. As the use of virtualization technologies is increasing, organizations are starting to realize the need to eliminate potential vulnerabilities and meet audit requirements.
 

The managed services segment in ICS security market is expected to hold a significant market share by 2024 as managed service providers enable companies to minimize the risk of cybercrime and enhance the security of their critical industrial systems and network infrastructure. Rising inclination toward cloud platforms to meet workplace requirements will also accelerate the need for managed services to ensure effective management of an organization’s network systems.  
 

 Industrial Control Systems (ICS) Security Market, By Application

The manufacturing ICS security market is expected to show lucrative growth over the forecast timeline due to the rising number of cyberattacks targeted at the manufacturing companies. Increased adoption of Internet of Things (IoT), sensors, and analytics has transformed the manufacturing sector and increased the risk of cyberattacks on critical machinery components. The main motive behind the attacks on the sector is financial gain and industrial espionage. The complexity of manufacturing plants and systems also add challenges to the cybersecurity management. This fuels the demand for implementation of security frameworks and solutions to safeguard industrial assets.
 

 Industrial Control Systems Security Market, By Region

APAC ICS Security Industry Size, By Country, 2017 & 2024 (USD Million)
APAC ICS Security Industry Size, By Country, 2017 & 2024 (USD Million)

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The Asia Pacific ICS security market is estimated to exhibit a robust growth rate from 2017 to 2024 due to the rising number of cyberattacks on ICS in countries including China, India, and Japan. The Ministry of Internal Affairs and Communications, Government of Japan disclosed that there were 128 billion cyberattacks on the nation’s critical infrastructure in 2016 registering a 2.4-fold increase compared to the previous year. As the organizations are losing huge amounts of data due to cyberattacks, the companies are adopting ICS security systems in their systems and entering into partnerships to develop new security solutions. For example, in June 2018, Tech Data entered into a partnership with Cyberbit to offer it SCADA security, ICS cybersecurity, training, and simulation program to its customers. Both the companies will work together to curb the growing cyberattacks and provide better value to their customers.
 

 Competitive Market Share

Companies present in the industrial control systems (ICS) security market are focusing on partnerships and new product developments to cater to the security needs of enterprise customers. For instance, in September 2017, Honeywell Process Solutions (HPS) invested in a cybersecurity innovation center developed for the Asia Pacific region in Singapore. This new research lab provides advanced cybersecurity services to assist users to decrease the risk of cybercrimes and improve their security posture. In March 2017, Delek Pi Glilot, a leading energy company in Israel selected Cyberbit to protect critical infrastructure against cyberattacks. The company selected Cyberbit’s SCADAShield solution to protect its ICS/SCADA networks.
 

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

 Industry Background

Industrial sectors including power & energy, manufacturing, and marine rely heavily on their complex industrial processes and systems to accomplish day-to-day tasks. This seeks the attention of hackers and intruders to gain access to such systems for obtaining business-critical information for their monetary benefits. Protecting such critical infrastructure from cyberattacks has become a major concern for the industries to prevent huge loss. This facilitates the need to adopt stringent security policies and solutions to safeguard industrial assets from cyberattacks.
 


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