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Industrial Control System (ICS) Security Market Research Report - Forecast 2027

Industrial Control System (ICS) Security Market: By Solution (Unified Threat Management, Distributed Denial of Service, Data Loss Prevention, Firewall and Antivirus) By System Type (SCADA, DCS, PLC and Others), By Services (Risk Management, Communication Services, Managed Support, Change in Management and Others) By Vertical (Energy & Power, Manufacturing, Transportation, Food & Beverage and Others) and Region - Forecast Till 2027

ID: MRFR/SEM/2148-CR | February 2019 | Region: Global | 123 Pages         

Industrial Control System (ICS) Security Market

The industrial control system (ICS) security market was valued at USD 11.20 Billion and is projected to witness a compound annual growth rate of 6.81% during the forecast period (2020-2027).

Segmentation

By System Type SCADA PLC DCS Others
By Solution Unified Threat Management (UTM) Data loss prevention Antivirus Firewall Distributed Denial of Service (DDOS)
By Service Change in Management Communication Services Managed Support Risk Management Others
By Vertical Manufacturing Food & Beverage Energy & Power Transportation Others

Key Players

  • Rockwell Automation Inc. (US)
  • BAE Systems (UK)
  • Schneider Electric (France)
  • ABB (Switzerland)
  • Fortinet Inc. (US)
  • Cisco Systems Inc. (US)
  • Belden Inc. (US)
  • Siemens AG (Germany)
  • Check Point Software Technologies Ltd. (Israel)
  • Honeywell International (US)
  • AO Kaspersky (Russia)

Drivers

  • The high need for robust ICS security solutions can fuel the market growth
  • Rapid globalisation rise of corporate culture and fast paced industrialization.
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Industrial Control System Security Market Size and Overview


Globally, the size of industrial control system security market is set to grow at a CAGR of 6.81%, estimated to reach USD 11.20 Billion by 2027 driven by improved efficiency and reduced production costs have been boosting the adoption of automation.


The transition to industry 4.0 is expected to bring several advances in efficiency and productivity and many challenges in how the industrial process works. Compared to the conventional manufacturing process, factors like improved efficiency and reduced production costs have been boosting the adoption of automation, which has been driving the demand for industrial control systems. However, the adoption of the industrial control system security solutions brings along the need for security as there is an exponential rise in cyber-attacks and networks security threats. The maximum majority of these systems require little or no authentication on the encryption for internal access.


The industrial control system security has been deployed to monitor the complex industrial processes and the critical infrastructures to deliver the power, water, transport, manufacturing, and other essential services. The automotive industry is among the primary sectors that hold a significant share of automated manufacturing facilities worldwide. The production facilities of various automakers are automated to maintain efficiency. The rising trend of replacing conventional vehicles with electric vehicles is expected to augment the automotive industry's demand further. The industrial control system security includes securing and safekeeping the industrial control systems and the software and the hardware used by the system. It focuses on keeping the processes and the machinery that runs through smoothly.


Covid-19 Analysis:


The impact of Covid-19 has led to the downfall of most small and large business institutions. But population across the globe has resorted to more smartphone users than usual. This is because of the lockdown and physical distancing measures. However, the industrial control system security market is expected to see a boom because of the work-from-home situations.


Industrial IoT devices and internet penetration need to be monitored remotely and offered security in industries. Hence, they require the adoption of cybersecurity for Industrial Control systems to tackle threats and cyber-attacks. Hence, the ICS security market will see rapid growth in the coming years, despite the pandemic.


Industrial Control System Security Market Dynamics:
Drivers:


A few factors may drive the growth of the Industrial Control System (ICS) security market size. Globally, the need for strong ICS security solutions is growing. Also, most industries are adopting IoT (Internet of Things), which contributes to the ICS security market growth. Moreover, all major countries are adopting globalization, corporate culture and swiftly spreading industrialization. Hence, these factors accelerate the growth of the industrial control system security market.


Opportunities:


The Control System Cyber Security has a lot of opportunities around the globe. Futuristic and advanced machinery in industries is also giving way to a lot of threats and cyber-attacks. Hence, Industrial Control System (ICS) security solutions are necessary to offer higher security for the advanced modern industrial machinery.


Restraints:


Some factors may hinder the growth of the Industrial Control System (ICS) Security market. Installing and maintaining ICS security solutions can be quite challenging. Moreover, these systems come with a high set-up cost. Hence, these factors may inhibit global market growth in the long run.


Challenges:


The ICS security systems are used to ensure security and convenience in the operation of modern industrial machinery. With the growing industrial internet penetration, the risk of cyber-attacks and threats is also high. So industries need to deploy ICS security solutions to tackle these issues. However, the high cost, difficult installation, and high maintenance features may challenge ICS solution sales. It also slows down the global industrial control system security market growth.


Cumulative Growth Analysis:


The Industrial Control System security market was evaluated at USD 11.2 billion in the year 2017. But it is expected to reach more than 25.1 billion by the end of the forecast period (2020-2027). Due to the increase in the number of advanced network systems in the industrial environment, the risk of threats and cyber-attacks has also grown. Hence, the ICS cyber security business is anticipated to boom in the forecast years, especially post-Covid-19.


Technological Analysis: 


The Industrial Control System (ICS) security solutions can be of several types such as Unified Threat Management (UTM), Data loss prevention, Antivirus, Firewall, and Distributed Denial of Service (DDOS). The ICS security systems also offer many types such as PLC, SCADA, and DCS.


Among them, the SCADA segment is anticipated to generate the highest profit. Its market value may reach up to USD 6 billion by the end of the forecast period. ICS security solutions also offer services such as Change in Management, Communication Services, Managed Support, and Risk Management. Among them, Risk Management may procure the highest Industrial Control System security market share.


Industrial Control System Security Market Segment Overview:


The industrial control system security market is divided into many segments such as system type, solution, service, and vertical. Listed below are the ICS security market segments:


By System Type:

  • SCADA

  • PLC

  • DCS

  • Others


By Solution:

  • Unified Threat Management (UTM)

  • Data loss prevention

  • Antivirus

  • Firewall

  • Distributed Denial of Service (DDOS)


By Service:

  • Change in Management

  • Communication Services

  • Managed Support

  • Risk Management

  • Others


By Vertical:

  • Manufacturing

  • Food & Beverage

  • Energy & Power

  • Transportation

  • Others


Industrial Control System Security Market Regional Analysis:


The regional analysis of the ICS control systems market is divided into North America, Asia Pacific, Europe, Middle East & Africa, and the rest of the world over the forecast period from 2022 to 2027. The North American region is the most anticipated to dominate the control system cyber security market in the years to come. It accounts for 53.6% of the Industrial Control System security market share. It is expected to grow at a high CAGR of 5.59% over the market forecast.


The European region is also expected to witness stable market growth. The Asia Pacific region is also anticipated to witness a high CAGR because of the rise in industrialization and other factors. The ICS security systems help overcome advanced cyber-security challenges.


Industrial Control System Security Market Competitive Landscape:


The global ICS security market is dominated by a few companies that play an important role in the growth of the market. These leading ICS security companies are called key companies. They are responsible for the largest portion of the market profit generation. These companies adopt many Industrial Control System Security market trends to expand market growth such as new product launches, R&D initiatives, and M&A activities. The companies have major manufacturing resources and are engaged in various development activities.


Industrial Control System (ICS) Security Market Key Players:

Below are the key companies in the global ICS security market with the location of their headquarters:


  • Rockwell Automation Inc. (US)

  • BAE Systems (UK)

  • Schneider Electric (France)

  • ABB (Switzerland)

  • Fortinet Inc. (US)

  • Cisco Systems Inc. (US)

  • Belden Inc. (US)

  • Siemens AG (Germany)

  • Check Point Software Technologies Ltd. (Israel)

  • Honeywell International (US)

  • AO Kaspersky (Russia)


Recent Developments:


February 2020


Darktrace partnered with McLaren to defend against cyber-attacks. Darktrace maybe McLaren's official AI cyber security partner with these partnerships, beginning from the 2020n Formula One season. The cyber security firm may help through the technical integration of its cyber artificial intelligence across the McLaren Group and the McLaren racing division, where Dartrace may protect the McLaren racing team against cyber-attacks.


Report Overview:


This research report compiles all the information about the growth of the global Industrial Control System (ICS) security market over the forecast period. It also includes different sections of the ICS security market analysis to help obtain detailed information such as opportunities, challenges, drivers, Covid-19 analysis, regional analysis, competitive landscape, and others. Moreover, all the information is gathered from verified primary and secondary sources to deliver the expected market growth of the industry by the year 2027.


Report Details:



  • Historic Period: 2015-2020

  • Base Year: 2021

  • Forecast Period: 2022-2027


Geographically:



  • Europe

  • Asia-Pacific

  • North America

  • Middle East & Africa

  • Rest of the World



Report Scope:

Report Attribute/Metric Details
  Market Size   USD 11.20 Billion
  CAGR   6.81%
  Base Year   2019
  Forecast Period   2020-2027
  Historical Data   2018
  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

  • The high need for robust ICS security solutions can fuel the market growth.
  • Rapid globalisation, rise of corporate culture, and fast paced industrialization.


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    Frequently Asked Questions (FAQ) :

    The global ICS security market has been expected to increase at a CAGR of 6.81%, with a value of USD 11.20 billion over the forecasting year of 2020-2027.
    .

    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.

    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

    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.