The global industrial control system (ICS) security market is expected to grow at a significant CAGR during the forecast period 2024-2031. The rising threats and attacks, growing industrial automation and virtualization, rising government initiatives to adopt smart grid technology are major factors implemented to drive the market growth of the global industrial control system (ICS) security market during the estimated period. Cyber security analysis, safety system vulnerability analysis and malware analysis are predominant features performed by the ICS security systems when installed in an industry. These features are additional factors that are anticipated to drive the industrial control system (ICS) security market growth globally.
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To monitor the critical infrastructure and complex industrial processes to deliver essential services including water, power, manufacturing, transportation and other services, the ICS security systems are increasingly deployed in industries. This rising adoption of ICS systems in industries will further explore the growth of the global industrial control system (ICS) security market. The growing incidence of cyber-attacks and convergence of IT and OT networks are additional market dynamics that are projected to drive the market growth of the global industrial control system (ICS) security market during the forecast period. The increasing concern for Supervisory Control and Data Acquisition (SCADA) programs to inhibit accidental and intentional security threats is projected to drive the market growth of the global ICS system market.
The market was projected to expand by adopting strategies to overcome restraints and challenges like- complexity in implementing the security system among the industries. Mergers and acquisition was an additional strategy to anticipate lucrative growth in this market. For instance, in February 2020, the Dark trace merged with McLaren to defend against cyberattacks that enhance the ICS system values.
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Market Coverage
- Segment Covered-
o By Component
o By Solution
o By Services
o By Security Type
o By Verticals
- Competitive Landscape- Cisco systems Inc., ABB Ltd., Lockheed Martin, Fortinet, Honeywell International Inc.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Industrial Control System (ICS) Security Market by Segment
By Component
- Solutions
- Services
By Security Type
- Network Security
- Endpoint Security
- Application Security
- Database Security
By Verticals
- Power
- Energy & Utilities
- Transportation Systems
- Manufacturing
- Others
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