Global Industrial Control Systems (ICS) Security Market

  • Network infrastructure has also contributed to a complex ICS, thereby promoting a threat surface for criminals.
  • The global ICS security market is anticipated to record a significant CAGR during the forecast period, i.e. 2019-2027.
  • Concerns for not being able to take down systems for security updates, which remain vulnerable to cyberattack is expected to act as a barrier to the growth of the global ICS security market.

Manufacturers around the globe are focusing on the adoption of Industry 4.0, which refers to the augmented wireless connectivity and sensors deployed in the machines. An investment of around $39 Billion by the end of 2020 is anticipated by manufacturers for the deployment of IoT in manufacturing processes.

Manufacturers are harnessing the benefits available with industrial internet of technology (IIoT), which focuses on automation and data exchange, enhanced visualization of production line, decision making capabilities and others. The network infrastructure has also contributed to a complex ICS, thereby promoting a threat surface for criminals. Such a factor is expected to drive the growth of the global ICS security market.

Concerns for not being able to take down systems for security updates, which remain vulnerable to cyberattack is expected to act as a barrier to market growth.

Additionally, rise in the number of threats and attacks observed globally on critical infrastructure and the existing technological infrastructure in organizations, is driving the demand for safeguarding the processes, which is anticipated to promote significantly towards the growth of the global ICS security market.

The Internet Crime Complaint Center (IC3) of the Federal Bureau of Investigation (FBI) in one of its statistics stated cybercrime complaints registered in the year 2018 totalled 351,937, which was an increase by 82,515 from that of 269,422 in the year 2014.

The global ICS security market is anticipated to record a significant CAGR during the forecast period, i.e. 2019-2027.

The market is segmented by application into manufacturing, power and energy, mining, water utility, transportation and others. Among these segments, manufacturing segment is anticipated to hold the largest market share on account of a large number of manufacturers being targeted for cyber attacks by criminals.

Manufacturers have opted to employ ICS in order to enhance their production processes. These systems lack strong security measures, and thereby provide a great opportunity for cyberattack criminals to target these organizations for financial gain and industrial espionage.

Geographically, the global ICS security market is segmented by five major regions into North America, Europe, Asia-Pacific, Latin America and Middle East & Africa region, out of which, North America is anticipated to hold largest market share owing to rising reliance on industrial internet of things (IIoT), increased instances of cyber-attacks, presence of numerous key players of ICS security solutions and rising norms which promotes the need for ICS security.

Internet Crime Complaint Center, in one of its statistics, stated that California recorded 49,031 cybercrime victims in the year 2018, which is the highest among all other nations in the region.

There is a rise in the number of threats and attacks on critical infrastructure and the existing technological infrastructure in organizations.

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However, concerns for not being able to take down systems for security updates, which remain vulnerable to cyberattack is expected to act as a barrier to the growth of the global ICS security market.

This report also studies existing competitive scenario of some of the key players of the global ICS security market, which includes profiling of ABB (NYSE: ABB), Check Point Software Technologies Ltd. (NASDAQ: CHKP), Cisco (NASDAQ: CSCO), Honeywell (NYSE: HON), McAfee LLC, FireEye Inc. (NASDAQ: FEYE), AO Kaspersky Lab, Airbus (EPA: AIR), Schneider Electric (EPA: SU), and Tripwire Inc.

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