USD 18.85 billion
Report ID:
SQMIG20O2007 |
Region:
Global |
Published Date: March, 2024
Pages:
202
|
Tables:
65 |
Figures:
77
Global Industrial Control Systems Security Market size was valued at USD 18.85 billion in 2022 and is poised to grow from USD 20.08 billion in 2023 to USD 33.22 billion by 2031, at a CAGR of 6.5% during the forecast period (2024-2031).
The global market for industrial control systems security has seen revenue increase as a result of the rise in cyberthreats. Industrial control systems are being more widely used in the manufacturing, chemical, energy, and other sectors as a result of the rise in cyberattacks. Many improvements in productivity and efficiency, as well as numerous changes to the way industrial processes operate, are anticipated to result from the shift to Industry 4.0. Industrial control systems are in demand because automation has increased productivity compared to traditional manufacturing methods and reduced production costs. The use of ICS solutions does, however, increase the requirement for security due to the exponential growth in cyberattacks and network security risks. The use of ICS security is significantly expanding as hackers attempt to break into company networks more frequently. The adoption of modern technologies is also producing enormous volumes of data, which is raising the demand for ICS security and, as a result, fuelling the global market's revenue growth. To preserve productivity, numerous automakers have automated their production plants. The demand for automobiles is anticipated to increase further as a result of the growing trend of switching from conventional to electric vehicles (EVs). For instance, according to the IEA, global sales of electric vehicles increased by a factor of two, from 3.0 million in 2020 to 6.6 million. These elements are promoting the use of industrial control systems and, as a result, are opening up profitable potential for the sector.
US Industrial Control Systems Security Market is poised to grow at sustainable CAGR for the next forecast year.
Global Market Size
USD 18.85 billion
Largest Segment
Distributed
Fastest Growth
Supervisory Control & Data Acquisition (SCADA)
Growth Rate
6.5% CAGR
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Global Industrial Control Systems Security Market is segmented on the basis of Type, System Type, Service and region. By Type, the market is segmented into Network, End Point, Application, Database. By System Type, market is segmented into Supervisory Control & Data Acquisition (SCADA), Distribution Control System (DCS), Programmable Logic Controller (PLC), Human-Machine Interface (HMI). By Service, the market is segmented into Consulting & Integration, Support & Maintenance, Training & Development, Incident Response Service, Managed Security Service. By region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Industrial Control Systems Security Market Analysis by System Type
Distributed Control Systems are dominant in industries such as oil and gas, chemical, and manufacturing. They provide centralized control and monitoring of industrial processes across multiple locations or systems. DCS systems typically consist of multiple controllers, sensors, and actuators connected to a central control unit. Securing DCS systems is essential to prevent unauthorized access, data breaches, and disruption of critical processes. As industrial sectors continue to adopt and upgrade DCS systems, the demand for security solutions for DCS is dominant and continues to grow.
SCADA systems is the fastest growing segment. SCADA systems are used to monitor and control industrial processes and infrastructure. They gather data from sensors and devices in real-time, providing operators with visibility and control over critical operations. SCADA systems are commonly employed in sectors such as energy, water treatment, transportation, and manufacturing. Securing SCADA systems is vital to protect against cyber threats that could lead to operational disruptions, physical damages, or safety risks. The dominant and fastest-growing segment in the ICS security market is SCADA systems due to their widespread use and the increasing awareness of their vulnerabilities.
Industrial Control Systems Security Market Analysis by End User
The largest share of the market for network security is projected. Network security focuses on protecting the network infrastructure and communication channels within an industrial control system. It involves implementing firewalls, intrusion detection and prevention systems (IDS/IPS), virtual private networks (VPNs), and network segmentation techniques. Network security is a dominant segment in the ICS security market as securing the communication channels is crucial for preventing unauthorized access, data breaches, and network disruptions.
Endpoint security involves securing individual devices and endpoints within the industrial control system, such as computers, servers, programmable logic controllers (PLCs), and human-machine interfaces (HMIs). This segment includes antivirus and anti-malware solutions, host intrusion prevention systems (HIPS), and device management tools. Endpoint security is a critical aspect of ICS security, as compromised endpoints can lead to unauthorized access, malware infiltration, and disruption of control processes.
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Over the projection period, North America is anticipated to gain a significant market share in the industrial control systems (ICS) market worldwide. The fourth industrial revolution, which is taking place in the U.S., involves a greater use of data for production and its integration with various manufacturing systems throughout the supply chain. The country also boasts the biggest automobile markets, which together with the aforementioned considerations are boosting demand for industrial control systems there. In addition, during the course of the forecast period, growth in the global industrial control systems (ICS) market is anticipated to be driven by Canada's recovering economy.
Over the forecast period, Asia Pacific is also anticipated to experience significant expansion in the worldwide industrial control systems (ICS) market. This can be linked to the fact that China has one of the largest industrial sectors, which is continually changing as businesses implement automation more and more. In addition, it is anticipated that rising urbanization and consumer expenditure in India will lead to more manufacturing throughout the nation. Therefore, it is anticipated that the aforementioned factors will accelerate market expansion in Asia Pacific in the years to come.
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Industrial Control Systems Security Market Drivers
Increasing Interconnectivity
Industrial Internet of Things (IIoT) Adoption
Industrial Control Systems Security Market Restraints
Complexity of Legacy Systems
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The market for industrial control systems (ICS) is extremely competitive on a global scale. This is related to the continual R & D activities and launches of new technologies by value chain participants. In order to increase their presence on a regional and international scale, significant players are also implementing a variety of corporate growth tactics.
Industrial Control Systems Security Market Top Player’s Company Profiles
Industrial Control Systems Security Market Recent Developments
Adoption of Next-Generation Security Technologies
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyzes the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research.
According to our analyses, the global industrial control systems (ICS) security market is experiencing significant growth and is expected to continue expanding in the coming years. ICS security refers to the protection of critical infrastructure, industrial networks, and control systems from cyber threats and attacks. The ICS security market has witnessed substantial growth due to the increasing number of cyber threats targeting critical infrastructure sectors. As industries become more interconnected and digitized, the need to secure industrial control systems have become paramount. The market size is expected to reach billions of dollars in the coming years, driven by the growing adoption of advanced security technologies and the increasing awareness of cybersecurity risks.
Report Metric | Details |
---|---|
Market size value in 2023 | USD 18.85 billion |
Market size value in 2031 | USD 33.22 billion |
Growth Rate | 6.5% |
Forecast period | 2024-2031 |
Forecast Unit (Value) | USD Billion |
Segments covered |
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Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
Companies covered |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Global Industrial Control Systems Security Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Industrial Control Systems Security Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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Product ID: SQMIG20O2007