Industrial control system security market size will grow at a CAGR of 6.1% between 2021 and 2026

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Industrial Control System Security Market

Increasing cyber threats to critical infrastructures are driving the growth of the market for the security of industrial control systems

Industrial Control Security (ICS) Market The size was estimated at $ 10.1 billion in 2020 and is estimated to grow at a CAGR of 6.1% over the 2021-2026 period. The growth is mainly attributed to the increasing adoption of IoT and automation technologies in industries and will drive market growth. Increasing investments in smart grid implementations and cloud computing for the protection of critical infrastructures in industries together with increasingly extensive security frameworks will continue to drive market growth. The increased demand for process variables and automation, including control valves and remote sensors / controls, has left existing infrastructure vulnerable to cyberattacks, thereby compromising the integrity of critical information that will power the ICS security market.

Market segment analysis for industrial control systems – by type

Network security held the largest share of 30.1% in 2020. Network security solutions include access control, anti-virus and anti-malware software, application security, behavior analysis, cloud security, data loss protection, firewalls, intrusion prevention systems, wireless -Security and among others. Network security also helps the industry keep sensitive data such as personal information and confidential business materials away from unauthorized persons. This is intended to drive market growth.

Market segment analysis for the security of industrial control systems – by industry

Transportation is the fastest growing segment in the Industrial Control System Security market and is expected to grow at a CAGR of 5.7% over the forecast period 2021-2026. The increasing adoption of ICS security for critical transportation networks such as land, highway, aviation, maritime and pipelines will drive market growth. Maritime components such as ships, ports and others play a vital role in facilitating large-scale trading operations. It is therefore very important to secure these systems in order to guarantee the smooth flow of ship and port operations and to advance the ICS security market. Aviation is one of the most advanced in the application of cybersecurity standards. The increase in safety standards in the transport sector will create opportunities for market growth in the forecast period.

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Industrial Control System Security Market Segment Analysis – By Geography

North America dominated the Industrial Control System Security market in 2020 with a market share of 34.8%, followed by Europe and APAC due to the early adoption of advanced technologies such as IIoT, automation technologies, and others. In addition, the presence of a large number of players and a high acceptance rate of Industrial Control System Security in this region will drive the market. In addition, strict regulatory standards such as the Department of Homeland Security (DHS), Control Systems Security Program (CSSP), and the National Institute of Standards and Technology (NIST) will drive market growth. These regulations have issued an ICS security guide to help reduce ICS-related issues such as malicious attacks, equipment failures, and other cyber threats. Growing concern about the protection of ICS and sensitive data has increased government intervention and this has propelled the market in this region.

Market driver for the security of industrial control systems

Increasing cyber threats to critical infrastructures are driving market growth

A growing number of cyber threats has driven the security market for industrial control systems. Industrial control systems in manufacturing, chemical, energy and other industries are increasing with the growing number of cyberattacks. As groups of hackers of all kinds attempt to break into industry networks, ICS security is increasingly being used which will drive market growth. In addition, the introduction of advanced technologies has resulted in the generation of huge amounts of data, which further increases the demand for ICS security and thus stimulates the market.

Introduction of advanced technologies

The introduction of advanced technologies such as the Internet of Things (IoT) in the industry has created the demand for the ICS security market. The multitude of connected sensors and controllers in the industrial network infrastructure has made security more complex. The increasing adoption of IoT technology and other network devices in the industry has increased the threat surface for criminals. This has made ICS security in IoT applications a critical requirement for organizations and thus propelled the market forward.

Industrial Control System Security Market Challenges

Lack of awareness of the safety of industrial control systems

One of the greatest challenges is the lack of security awareness and the weak points associated with the systems in companies. In many ICS environments, automated asset management and configuration controls are not used. A lack of understanding of how to manage asset networks creates weaknesses that slow market growth. In addition, there is a lack of collaboration between ICS and security providers to innovate the right technologies. As ICS vendors adopt advanced technologies, interconnectivity within existing corporate network infrastructures and the Internet has increased, making ICS more vulnerable to threats. As a result, companies face the major challenge of understanding the nature of targeted attacks and ensuring protection against them, which limits market growth.

Industrial Control System Security Market Landscape

Technology launches, acquisitions, collaborations and R&D activities are key strategies of players in the industrial control system security market. The top 10 companies in industrial control system security include ABB, Check Point Software Technologies, Cisco, Honeywell, Mcafee, Fireeye, BAE Systems, Bayshore Networks, Cyberark, Indegy and others.

Acquisitions / technology launches

In March 2020, the Dubai Electronic Security Center (DESC) introduced an industrial security standard for the city to improve the digital infrastructure of the industrial sector against the increase in cyber attacks and to drive market growth.

In October 2019, ABB worked with IT companies such as Microsoft, Israel-SCADAfence, Check Point Software and Fortinet to improve ICS security and cyber risk. The cooperation with leading IT companies to improve ICS security is intended to increase the company’s market share in the security of industrial control systems.

The central theses

North America dominated the Industrial Control Security market in 2020 in terms of sales due to the early adoption of advanced technologies and the presence of a large number of players.

The introduction of advanced technologies such as IoT in industry and strict security regulations will drive market growth.

The increasing acceptance of Industrial Control System Security in the transportation sector for various applications such as aviation and shipping will drive market growth.

Lack of awareness of ICS security is hindering market growth.

Related reports

A. Process Control Automation Market

https://www.industryarc.com/Report/18154/process-control-automation-market.html

B. Industrial and Factory Automation Market

https://www.industryarc.com/Report/60/Global-Industrial-Factory-Automation-Market.html

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