ID: MRFR/SEM/2148-CR | February 2019 | Region: Global | 123 pages
Increased cyber-attacks and evolving network security threats in the industrial environment is necessitating adoption of advanced industrial control system (ICS) security market solutions. The industrial control system (ICS) security market was valued at USD 11.20 Bn in 2017 and is projected to witness a compound annual growth rate of 6.81% during the forecast period (2018-2023). While ICS becomes more dynamic with integration of next-generation technologies, it is also getting exposed to new threats. Such threats can sabotage industrial operations at a high level.
This MRFR report offers a detailed analysis of the industrial control system (ics) security market along with a revenue forecast that ends in 2023. It contains both micro and macro level analysis of the market. The report covers different types of ICS security solution, which include Unified Threat Management (UTM), Distributed Denial of Service (DDOS), Data Loss Prevention, Firewall and Antivirus. A sector of report, highlights ICS security systems such as SCADA, DCS, PLC, among others. Security services discussed in the report include risk management, communication services, managed support and change in management. The ICS security market size considered in the report is based on use of ICS security energy & power, food & beverage, manufacturing, transportation, among others.
Siemens AG, Schneider Electric, Cisco Systems, Inc., Rockwell Automation, Inc., Check Point Software Technologies Ltd., Belden Inc., BAE Systems, ABB and Fortinet, Inc.
The ICS security market report provides insights on the leading market players and evaluates their current market share. Company information with regards to revenue, segmental share, geographical income, SWOT, growth strategies, new product launch, M&A activities, and the latest R&D initiatives is also available in the report.
MRFR implements a research methodology which undertakes a number of research activities for conducting a robust market analysis. Primary and secondary inputs allow gathering of pertinent market information. Subject matter experts, c-level executives, and opinion holders are approached for identifying current industry trends and possible future developments. In addition, proprietary sources such as whitepapers, paid database, SEC filings, annual reports, etc. Use of a multilayer evaluation process ensures optimum accuracy. Market sizing involves utilization of both top-down and bottom-up approaches. Information breakdown and data triangulation ensures effective market projection.
For the scope of the research, MRFR’s report offers a comprehensive segmental analysis of the global ICS Security market.
ICS Security Market, By Solution
ICS Security Market, By System Type
ICS Security Market, By Service
ICS Security Market, By Vertical
ICS Security Market, By Region
|Market Size||Significant Value|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Solution, System Type, Services, Vertical|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Siemens AG, Schneider Electric, Cisco Systems, Inc., Rockwell Automation, Inc., Check Point Software Technologies Ltd., Belden Inc., BAE Systems, ABB and Fortinet, Inc.|
|Key Market Opportunities||ICS security is observed to be the key focus area for the development associated with future-ready solutions, which can facilitate high security by effective modern industrial machineries management.|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The global ICS security market was valued at USD 11.20 billion in 2017 and is expected to witness significant growth over the by 2023.
The global ICS market is projected to observe a CAGR of 6.81% during the forecast period (2018-2023).
Factors such as the demand for ICS security solutions is anticipated to rise significantly due to the rapid integration of advanced technologies industrial infrastructures.
SCADA segment is anticipated to remain highly profitable and is projected to reach a market value more than USD 6 billion by the end of the assessment period.
Risk management segment is expected to record the highest market share in the service segment.
the ICS market in North American region is expected to capture a CAGR of 5.59% over the assessment period
A few major players of the ICS market are Siemens AG, Check Point Software Technologies Ltd., BAE Systems, Schneider Electric, Cisco Systems, Inc., Rockwell Automation, Inc., Belden Inc., ABB and Fortinet, Inc.
Safeguarding of industrial control system (ICS) has become a key focus area for business entities both private and public. Various types of ICS security solutions are being used to measure, control and provide a view of the process. MRFR’s study reveals that the global ICS security market will expand at a CAGR of 6.81% during the assessment period (2017-2023). ICS security solutions are a set of interconnected infrastructures and networks that secure industrial processes.
With the passing time, severity and scale of cyber-attacks have increased, making security a vital issue in monitoring and controlling of modern machineries in industrial environments. There has been a sharp rise in demand for ICS security solutions, mainly owing to rising number of cyber-attacks on industrial control systems worldwide. These solutions are being adopted across energy & power, manufacturing, oil & gas, and food & beverages industries. At the same time, the growing need for effective cloud computing and cloud-based security is being met by ICS security solutions.
The segmental analysis of the global industrial control system security market has been conducted on the basis of solutions, control system type, service, vertical, and region.
Based on solution, the market has been segmented into Unified Threat Management (UTM), Distributed Denial of Service (DDOS), Data loss prevention, Firewall, and Antivirus. The firewall segment currently accounts for more 26% market share in terms of value. In 2017, the segment was valued at USD 3.01 Bn and is expected to exhibit a CAGR of 6.17% during the forecast period.
Based on control system type, the market has been segmented into SCADA, DCS, PLC and others. The SCADA segment holds the pole position and is likely to remain high profitable during the forecast period. Towards 2023, the segment is expected to reach a valuation of USD 6.89 Bn, reflecting a healthy growth rate.
On the basis of service, the market has been segmented into risk management, communication services, managed support, change in management and others. The risk management segment accounts for a significant share of the market. Currently, the segment is valued at more than USD 3.35 Bn and set to post a CAGR of 6.43% till 2023. The communication services segment accounts for the second largest market share. Additionally, the segment is expected to surpass a market valuation of USD 4 Bn by the year 2023.
Based on vertical, the market has been segmented into energy & power, manufacturing, transportation, food & beverage and others. In terms of revenue, the energy & power segment accounted to 32.7% share of the market in 2017 and is projected to increase at an impressive CAGR of 5.80% till 2023.
On the basis of region, the global industrial control system security market has been Asia Pacific (APAC), Europe, North America and Rest of the World (RoW). In 2017, North America accounted for 53.6% share of the market in terms of revenue. The market in the region is expected to post a CAGR of 5.59% during the assessment period. Factors such as exponential volumes of data generation, increasing use of Internet-based solutions and cloud services, and an increase in the number of services that are operated and managed online have led to an increased use of ICS security solutions in the countries such as the U.S. and Canada. Moreover, the growing threat of cyber-attacks is paving the way the ICS security market. Furthermore, the rapid adoption of new security technologies along with the growing focus on security in boosting the popularity of ICS security solutions. The focus remains on improving the measures to overcome high-profile cybersecurity challenges. In the forthcoming years, ICS security solutions are likely to become crucial in securing cyber and communication infrastructures.
Leading companies operating in the global industrial control system (ICS) security market include General Electric, Siemens AG, Honeywelll International Inc., Schneider Electric, Belden Inc., Fortinet, Inc., Cisco Systems, Inc., ABB, Rockwell Automation, Inc., BAE Systems and Check Point Software Technologies Ltd.
Industrial Control System (ICS) Security Market- Competitive Landscape
Market Research Future includes following key players for industrial control system (ICS) security market research study: Siemens AG, General Electric, ABB, Schneider Electric, Honeywell International Inc., Cisco Systems Inc., Rockwell Automation Inc., BAE Systems, Belden Inc., Fortinet Inc., and Check Point Software Technologies Ltd.
The market share analysis is derived by considering various factors such as financial position, segmental R&D investment, product innovations, corporate strength, product portfolio, strategy analysis, and, key innovations in the market among other factors. The major players holding prominent position in the industrial control system (ICS) security market are Siemens AG, General Electric, ABB, Schneider Electric, and Honeywell International Inc.
According to MRFR analysis, Siemens AG is currently leading the global industrial control system (ICS) security market with 9.7% market share. Siemens AG is a technology-based company, which operates in the fields of automation, digitalization, and electrification. It offers products and services for building technologies, drive technology, energy, healthcare, industrial automation, mobility, financing, services, software, and consumer products. Siemens strategizes to capitalize on the growing demand for greener, safer, and more sustainable business solutions. It enhances its productivity through automation and increasing customer proximity via strategic localization of capacity and R&D infrastructure for the low-voltage product solutions to meet the growing demand for energy efficient solutions.
General Electric has currently occupied the second position in the global industrial control system (ICS) security market with 8.8% market share. General Electric is an American multinational conglomerate that operates through seven business segments, namely aviation, healthcare, lighting, oil & gas, power, renewable energy, and transportation. The company is considering partnerships and collaboration with leading world power providers and governing authorities. The company is enhancing the product development activities to offer safe, high-quality and innovative products. The company is focusing on the development of cybersecurity related products to cater to the increasing cybersecurity requirements, vulnerabilities, threats and more sophisticated and targeted computer crime, which pose a risk to systems, networks, products, solutions, services and data.
ABB has currently occupied the third position in the global industrial control system (ICS) security market with 7.7% market share. ABB is engaged in the business of electrification products, industrial automation, power grids, utilities services, and transport & infrastructure services. It offers control room solutions, communication networks, drives, high voltage products, low voltage products and systems, measurement and analytics, mechanical power transmission, and medium voltage products. The company has been integrating electrification products and global manufacturing capabilities in developing new technologies. This is mainly done to optimize costs, expand customer base and exhibit ABB diverse capabilities and enter specific international markets.
Schneider Electric has currently occupied the fourth position in the global industrial control system (ICS) security market. The company believes in partnership with large companies to deliver real-time control and operational efficiency. It offers solutions for various industries, namely automotive, banking & finance, cloud & service, commercial real estate, data center & networks, electric utilities, food & beverages, healthcare, marine, metals, mining, and oil & gas. Schneider Electric focuses on increasing investment for energy management and automation solutions at a global level. It considers the key emerging countries of Asia and Europe for expansion. It is committed to offer solutions based on digitization through a network of partners. It plans to undertake strategic collaborations and partnerships with leading companies for distribution. Schneider Electric further strategizes to enhance operational efficiency through cost-efficiency initiatives.
Honeywell International Inc. has currently occupied fifth position in the global industrial control system (ICS) security market. The company is concentrating on the development of ICS security products and services and have launched cybersecurity consulting services designed to help industrial and critical infrastructure customers identify and eliminate dangerous security weaknesses in 2018. It has focus on high-growth business opportunities in attractive industrial end markets, each aligned to exemplary cybersecurity, energy efficiency, infrastructure investment, urbanization, and worker safety. The company has been considering expansion in Asian countries such as China and India by investing in product development and mergers and acquisitions in order to increase the market share.