Global Industrial Control Systems Security Market

Industrial Control Systems Security Market Size, Share, Growth Analysis, By Type(Network, End Point), By System Type(Supervisory Control & Data Acquisition (SCADA), Distribution Control System (DCS)) - Industry Forecast 2024-2031

Report ID: SQMIG20O2007 | Region: Global | Published Date: March, 2024
Pages: 202 | Tables: 65 | Figures: 77

Industrial Control Systems Security Market News

  • In March 2024, the Smart Factory Automation World (SFAW) event in Seoul will showcase cutting-edge automation technologies such as robotics and digital factory solutions. More than 450 companies from nine countries will convene at the COEX Convention & Exhibition Center to present their latest innovations to an anticipated audience of over 70,000 visitors. 
  • In October 2023, Rockwell Automation, Inc. (NYSE: ROK) and Microsoft Corp. announced an expansion of their longstanding partnership to expedite the design and development of industrial automation using generative artificial intelligence (AI). This collaboration will integrate Microsoft's Azure OpenAI Service into FactoryTalk® Design Studio™, providing pioneering capabilities to accelerate time-to-market for customers constructing industrial automation systems. 
  • In October 2023, Microsoft and Siemens are strengthening their collaboration to bring the advantages of generative AI to industries globally. Their initial effort involves introducing Siemens Industrial Copilot, an AI-driven assistant designed to enhance teamwork between humans and machines. Furthermore, they are launching an integration between Siemens Teamcenter software for product lifecycle management and Microsoft Teams, making it easier for design engineers, frontline workers, and other teams to collaborate virtually across different business functions. 
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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 market for industrial control systems (ICS) is extremely competitive on a 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. 'ABB Ltd. (Switzerland)', 'Airbus Defense and Space (France)', 'BAE Systems plc (United Kingdom)', 'Bayshore Networks, Inc. (United States)', 'Cisco Systems, Inc. (United States)', 'Clarity Ltd. (Israel)', 'CyberArk Software Ltd. (Israel)', 'Forescout Technologies, Inc. (United States)', 'Fortinet, Inc. (United States)', 'General Electric Company (United States)', 'Honeywell International Inc. (United States)', 'IBM Corporation (United States)', 'Kaspersky Lab (Russia)', 'McAfee LLC (United States)', 'Palo Alto Networks, Inc. (United States)', 'Rockwell Automation, Inc. (United States)', 'Schneider Electric SE (France)', 'Siemens AG (Germany)', 'Symantec Corporation (United States)', 'Trend Micro Incorporated (Japan)', 'Tripwire, Inc. (United States)', 'Waterfall Security Solutions Ltd. (Israel)'

The integration of operational technology (OT) with information technology (IT) networks and the convergence of OT and IT infrastructure are driving the demand for robust ICS security solutions. As industries embrace digital transformation, interconnected systems enable enhanced monitoring, control, and data analysis. However, this interconnectivity also expands the attack surface, making it crucial to secure the connections between IT and OT environments.

The ICS security market is witnessing increased adoption of advanced security technologies to counter evolving cyber threats. This includes the integration of technologies such as artificial intelligence (AI), machine learning (ML), behavior analytics, and anomaly detection. These technologies help organizations detect and respond to sophisticated attacks, identify abnormal behaviors, and enhance the overall security posture of industrial control systems.

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 industrial control systems (ICS) market is anticipated to be driven by Canada's recovering economy.

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