INDUSTRIAL CONTROL SYSTEMS (ICS) SECURITY MARKET: OVERVIEW

The Global Industrial Control Systems (ICS) Security Market Size, was valued at USD 17,401.13 Million in 2020 and is expected to reach USD 29,190.0 Million by 2030, at a CAGR of 8.92% during 2021-2030. ICS stands for Industrial control system, it integrates various types of control systems, including distributed control systems (DCS), supervisory control and data acquisition (SCADA) systems, and Programmable Logic Controllers (PLC).
 

An industrial control system is one of the highly adopted control systems among all, it is majorly used for monitoring industrial processes. It can be composed of only a few controllers or a complex network of interactive control systems manufactured by hundreds or thousands of connections. These systems get information from remote sensors that screening and measure process variables. Further, these process variables are linked with the setpoints. The system will then send instructions that will control procedures via the final control elements, such as control valves. For instance, remote sensors check machinery and then send it to the industrial control system. If they noticed that the machine is overheating, then ICS will tell the machinery to shut down.
 

COVID-19 ANALYSIS

COVID-19 pandemic has adversely affected the global economy. But there are some industries those get benefit in pandemic situation. Among the COVID-19 pandemic crisis, various governments and regulatory authorities order for both public and private organizations to hold new practices for working remotely and maintaining social distancing. Since then, the digitization of business became the new business continuity plan across various industry verticals. With the widespread use of BYOD device, WFH trend, IoT, and internet penetration across critical industry verticals including manufacturing, oil & gas, power grids; individuals & enterprises are increasingly motivated towards the use of digital technologies such as ICS solutions, and this drive the increase in requirement for ICS security solutions for protect against cyber-attacks.
 

INDUSTRIAL CONTROL SYSTEMS (ICS) SECURITY MARKET: TREND

Rapid Development in Digital Technologies Propel the Market Growth

The growing trend for organizations such as the power sector, manufacturing, and industrial areas increases the demand for ICSs to manage their industrial operations. Today, Industrial Control Systems face an extensive range of security threats almost every day. In today’s digital economy, these threats have become more advanced. At the same time, the industrial sector continues to become more dependent on control systems. Because of this, it is becoming important than ever to have an understanding of the importance of industrial cyber security and keep an eye on emerging security trends and threats. Technology is a fast-flowing stream. There is a constant necessity to provide cyber security solutions to every industrial control system. In the present situation, the top three business concerns for ICS professionals were: ensuring reliability and availability of control systems, lowering risk/improving security, and ensuring the health and safety of employees.
 

INDUSTRIAL CONTROL SYSTEMS (ICS) SECURITY MARKET: DRIVERS

Convergence of IT and OT Systems Drive Market Growth

The convergence of IT and OT, the wider connectivity of OT with external networks, and the growing number of industrial IoT devices help to boost the efficiency of industrial processes. With the arrival of IoT, every ICS sensor, instrument, and device accessible over an IT/OT network is vulnerable to penetrating weaponization with botnets that are used to launch targeted attacks on critical infrastructures, such as energy grids, power plants, water, and waste management systems, food processing plants, and transportation networks.
 

According to the industry experts, more than half i.e., 54% of the companies surveyed have reported that they consider the increased risks associated with connectivity and the integration of IoT ecosystems, as well as the measures required to manage these risks, to be a major OT/ICS cybersecurity-related challenge.
 

INDUSTRIAL CONTROL SYSTEMS (ICS) SECURITY MARKET: RESTRAIN

High Procurement Costs of ICS Security Solutions Limit Market Growth

Procurement cost represents a near-constant headache for providers. Investments in ICS security solutions are noteworthy for managing the complete economic stability and consolidating the security posture for any nation. The ICS security solution has some sincere costs including licenses, hardware requirements, help desk costs, and maintenance and renewal activities, which are expensive for a critical infrastructure organization to deploy. To overcome this challenge company providers are heavily investing in cloud-based security solutions.
 

INDUSTRIAL CONTROL SYSTEMS (ICS) SECURITY MARKET: SEGMENTATION

The global industrial control systems (ICS) security market is segmented based on type, industry, and regions. Based on type the market is bifurcated as services, hardware, and software. Based on industry the market is classified based on data centers, power generation, power transmission and distribution, oil & gas, commercial buildings, and others. Based on the security type market is segmented into the Network Security, Endpoint Security, Application Security, Database Security. Based on the Region market is characterized into the North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa).
 

SEGMENTATION: BY REGION

Based on the Region, the Global Industrial Control Systems (ICS) Security Market is categorized into North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa.
 

North America region is dominating share of the global Industrial Control Systems (ICS) Security market due to the stringent government regulations related to CIP, The CIP systems and government agencies play a vital role in safeguarding cyberspace without fading the benefits that it provides to critical infrastructures. The increasing the focusing of the government on the security system driving the market in the North America.
 

The Asia Pacific region is anticipated to grow over the next few years of global Industrial Control Systems (ICS) Security Market owing to the fast expansion of the network infrastructure in the region. Market expansion would have many chances as a result of rapid industrialisation. The government is supportive, China is predicted to lead the globe in deploying industrial networking technology. The trend toward automation is likely to be the main driver of the market for Industrial Control Systems (ICS) Security. Large investments from well-known manufacturing companies would boost demand for Industrial Control Systems (ICS) Security across Asia-Pacific.
 

INDUSTRIAL CONTROL SYSTEMS (ICS) SECURITY MARKET: KEY PLAYERS

• Cisco
• ABB
• Lockheed Martin
• Fortinet
• Honeywell
• Palo Alto
• BAE Systems
• Raytheon
• Fireeye
• DarkTrace
• Check Point
• Kaspersky Labs
• Airbus
• Belden
• Sophos
• Cyberark
• Claroty
• Dragos
• Nozomi Networks
• Cyberbit
• Others

INDUSTRIAL CONTROL SYSTEMS (ICS) SECURITY MARKET: RECENT DEVELOPMENT

• July 2021- ABB announced the acquisition of ASTI Mobile Robotics Group (ASTI), a leading global autonomous mobile robot (AMR) manufacturer with a diverse portfolio spanning all major applications enabled by the company's software suite. This will broaden ABB's robotics and automation portfolio, making it the only company with a comprehensive portfolio for the next generation of flexible automation.
• March 2020- The Dubai Electronic Security Centre (DESC) has launched an industrial security standard for the city in order to strengthen the industrial sector's digital infrastructure against the rise in cyber-attacks, which is expected to drive market growth.
• January 2022- ABB announced that it has increased its stake in Chargedot Shanghai New Energy Technology Co., Ltd.  a Chinese electric vehicle (EV) charging provider, to 80 percent. In March 2020, ABB acquired a 67 percent stake in Chargedot.

INDUSTRIAL CONTROL SYSTEMS (ICS) SECURITY MARKET: REPORT OVERVIEW

The scope of the report includes a detailed study of regional markets for Global Industrial Control Systems (ICS) Security Market. The Global Industrial Control Systems (ICS) Security Market is segmented by Type, Application, Security Type, and Region. It reveals the market situation and future forecast. The study also covers the significant data presented with the help of graphs and tables. The report covers information regarding the competitive outlook including the market share and company profiles of the key participants operating in the Global Industrial Control Systems (ICS) Security Market.