Industrial Control Systems (ICS) Security Market Analysis

Industrial Control Systems Security Market Analysis

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.
 

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.