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The Industrial Control System (ICS) Security Market Executive Summary offers a comprehensive glimpse into the evolving landscape of cybersecurity within industrial environments. ICS refers to the technology used to manage and control critical infrastructure such as power plants, manufacturing facilities, water treatment plants, and more. With the increasing integration of digital systems in these industries, safeguarding against cyber threats has become a paramount concern.
One of the primary drivers propelling the growth of the ICS security market is the escalating number and sophistication of cyber threats targeting critical infrastructure. These systems, once largely isolated, are now interconnected through networked technologies, making them susceptible to cyberattacks. Threat actors, including hackers, state-sponsored groups, and malicious entities, aim to exploit vulnerabilities within these systems to disrupt operations, cause damage, or steal sensitive information.
The interconnected nature of industrial control systems with enterprise networks and the internet has expanded the attack surface, amplifying the need for robust cybersecurity measures. As a result, industries reliant on ICS are increasingly investing in cybersecurity solutions and protocols to safeguard their critical assets and maintain operational continuity. This heightened focus on security has driven the growth of the ICS security market, encompassing solutions such as firewalls, intrusion detection systems, encryption technologies, and security management platforms tailored for industrial environments.
Moreover, regulatory compliance mandates and industry standards play a significant role in shaping the ICS security landscape. Governments and regulatory bodies worldwide have introduced stringent regulations and guidelines to ensure the protection of critical infrastructure against cyber threats. Compliance with these standards necessitates the implementation of robust cybersecurity measures, further driving the adoption of ICS security solutions across various industries.
The emergence of advanced technologies such as the Internet of Things (IoT), cloud computing, and artificial intelligence (AI) within industrial settings has also contributed to the complexity of security challenges. While these technologies offer immense benefits in terms of efficiency and productivity, they also introduce new vulnerabilities that need to be addressed proactively. Therefore, there's a growing demand for innovative security solutions that can adapt to the evolving threat landscape and provide comprehensive protection for interconnected industrial systems.
However, despite the strides made in bolstering ICS security, several challenges persist. Legacy systems, prevalent in many industrial settings, often lack adequate built-in security measures and are more susceptible to cyber threats. Additionally, the convergence of operational technology (OT) and information technology (IT) brings about complexities in managing security protocols, requiring a cohesive approach to bridge the gap between these traditionally separate domains.
Covered Aspects:
| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2023 | USD 173.4 Billion |
| Growth Rate | 5.00% (2023-2032) |
Industrial Control Systems Energy Power Market Highlights:
Global Industrial Control Systems (Energy & Power) Market Overview:
Industrial Control Systems (Energy & Power) Market Size was valued at USD 173.4 Billion in 2023. The industrial control systems (energy & power) market industry is projected to grow from USD 182.07 Billion in 2024 to USD 256.2 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 4.36% during the forecast period (2024 - 2032). Increasing need for energy and power, as well as protecting a company's various sensitive information are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Industrial Control Systems (Energy & Power) Market Trends
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Increasing Industry 4.0 adoption to drive market growth
The market CAGR for industrial control systems (energy & power) is being driven by the adoption of industry 4.0. Industry 4.0 envisions a new generation of low-cost wireless sensors, control systems, and improved real-time data analytics, as well as advances in high-fidelity process modelling. Such developments will include technologies that can improve industrial manufacturing efficiencies and integrate network subsystems in manufacturing operations. With the strategic implementation of Industrial 4.0, efficiency is growing through analytical insight, as it minimises system failures through predictive analytics and optimises costs by eliminating wastage.
Moreover, the increasing emphasis of enterprises on integrating cyber security solutions with industrial automation is likely to generate several growth possibilities in the industrial control systems (ICS) market. The rising industrial auromation is driving technological advancements in domains such as nanotechnology and nanoscale assembly systems, pervasive Internet and machine-to-machine networking, and MEMS and nanotech sensors. To combat the growing cyber security threats, businesses are increasingly focused on the integration of cyber security solutions. This, in turn, is projected to provide many possibilities for companies in the worldwide industrial control systems (ICS) market over the forecast period.
Industrial Control Systems (Energy & Power) Market Segment Insights:
Industrial Control Systems (Energy & Power) Technology Insights
The industrial control systems (energy & power) market segmentation, based on type includes integrated control and monitoring system (ICMS), manufacturing execution system (MES), distributed control system (DCS), safety instrumented system (SIS) and others. In 2022, the distributed control systems (DCS) segment dominated the market, accounting for more than 34% of total revenue. Because of the rapid acceptance of IIOT, industrialists prefer to deploy automated control systems, which are driving market expansion for DCS. Furthermore, the introduction of 5G and its adoption in the power generation sector are projected to accelerate the integration of IoT and DCS utilising 5G technology for improved output efficiency.
Industrial Control Systems (Energy & Power) Component Insights
The industrial control systems (energy & power) market segmentation, based on component, includes remote terminal unit (RTU), human-machine interface (HMI), surge protectors, marking systems, modular terminal blocks and others. Remote Terminal Unit (RTU) has a significant market share. A remote terminal unit (RTU) is an electronic device with a microprocessor that is used in industrial control systems (ICS) to link diverse hardware to distributed control systems (DCS) or supervisory control and data acquisition (SCADA). RTUs are also known as remote telemetry or remote telecontrol units. RTUs route sensor data from control loop input streams to an output stream, which is then routed to centralised control in an ICS. RTUs automatically establish connections to local or distant controls.
Figure1: Industrial Control Systems (Energy & Power) Market, by Component, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Industrial Control Systems (Energy & Power) End-Use Insights
The industrial control systems (energy & power) market segmentation, based on end-use, includes beverage and food industry, chemical industry, life and medical science, textile and fiber industry, heavy machinery industry, electronic industry, alloys and metal industry, automotive industry and others. The food and beverage industry dominated the market. The food and beverage industry's demand is increasing year after year as the economy grows and disposable incomes rise. The growing population is also helping this industry.
Industrial Control Systems (Energy & Power) Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American industrial control systems (energy & power) market area will dominate this market, because of the growing popularity of biosimilars, the pharmaceutical and biotech sectors have increased their use of industrial and control systems in recent years.
Further, the major countries studiedin the market reportare The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure2: Industrial Control Systems (Energy & Power) Market Share By Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe’s industrial control systems (energy & power) market accounts for the second-largest market share due to severe government rules governing the application of safety requirements for industrial control systems utilised for critical infrastructure protection across diverse industries such as oil and gas; utilities; manufacturing; transportation, and so on. Further, the German industrial control systems (energy & power) market held the largest market share, and the UK industrial control systems (energy & power) market was the fastest-growing market in the European region
The Asia-Pacific Industrial Control Systems (Energy & Power) Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to rising demand for power generation facilities will fuel the expansion of energy and power applications over the forecast period. Moreover, China’s industrial control systems (energy & power) market held the largest market share, and the Indian industrial control systems (energy & power) market was the fastest-growing market in the Asia-Pacific region.
Industrial Control Systems (Energy & Power) Key Market Players & Competitive Insights
Leading market players are investing heavily in R&D to expand their product lines, which will help the industrial control systems (energy & power) market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, industrial control systems (energy & power) industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the industrial control systems (energy & power) industry to benefit clients and increase the market sector. In recent years, the industrial control systems (energy & power) industry has offered some of the most significant advantages to medicine. Major players in the industrial control systems (energy & power) market, including General Electric Company (U.S.), Schneider Electric SE (France), Rockwell Automation, Inc. (U.S.), Honeywell International, Inc. (U.S.), and others, are attempting to increase market demand by investing in R&D operations.
Hitachi, Ltd. is a Japanese multinational firm based in Chiyoda, Tokyo, Japan. It is the parent firm of the Hitachi Group (Hitachi Gurpu), and was once a part of the Nissan zaibatsu, DKB Group, and Fuyo Group of enterprises before DKB and Fuji Bank (the core Fuyo Group entity) combined to establish the Mizuho Financial Group. As of 2020, Hitachi's business ranges from IT to infrastructure, including AI, the Internet of Things, and big data. Hitachi is traded on the Tokyo and Nagoya stock exchanges, and its Tokyo stock exchange listing is a component of the Nikkei 225 and TOPIX Core30 indices. It is placed 38th in the Fortune 500 for 2012 and 129th in the Forbes 2000 for 2012. In September 2022, Hitachi, Ltd. announced the acquisition of Flexware Innovation, Inc., a manufacturing Systems Integrator (SI). Following the acquisition, Hitachi will strengthen and expand its business in North America in the domains of MES, SCADA, Business Intelligence (BI), Software Development, and ERP implementation capabilities, as well as accelerate digitalisation with JR Automation, which specialises in robotic SI and automation.
PepsiCo, Inc. is an American food, snack, and beverage conglomerate headquartered in Purchase, New York. PepsiCo's operations span the entire food and beverage industry. It is in charge of product manufacture, distribution, and marketing. The Pepsi-Cola Company and Frito-Lay, Inc. merged to establish PepsiCo in 1965. PepsiCo has subsequently expanded beyond its eponymous product, Pepsi Cola, to include a vast array of food and beverage brands. The most recent and largest acquisition was Pioneer Foods in 2020 for US$1.7 billion, with the Quaker Oats Company in 2001, which gave the Gatorade brand to the Pepsi portfolio, and Tropicana Products in 1998 preceding it. In June 2022, PepsiCo India announced an extra INR 1.86 crore investment in expanding its food manufacturing factory in Kosi Kalan, Mathura, Uttar Pradesh, to create the Doritos brand of cornflakes. The overall investment by PepsiCo in its largest Greenfield Foods production unit, which produces Lay's potato chips, will then be Rs 1,022 crore.
Key Companies in the industrial control systems (energy & power) market include
- Emerson Electric Company (US)
- Schneider Electric SE (France)
- Honeywell International, Inc. (US)
- ABB Ltd. (Switzerland)
- Yokogawa Electric (Japan)
- Metso (Finland)
- Rockwell Automation Inc., (US)
- Mitsubishi Electric Corporation (Japan)
- Azbil (Japan)
- Siemens AG (Germany)
- Fortune (US)
- Lockheed Martin (US)
- Cisco (US)
- Belden (US)
- Positive Technologies, (Russia)
- DarkTrace (UK)
Industrial Control Systems (Energy & Power) Industry Developments
In October 2021: Toyota has committed a USD 3.4 billion investment in US automobile battery development and production until 2030. In partnership with Toyota Tsusho, the automaker's metals trading arm, and a Toyota Group entity, it plans to establish a new firm and build a new US automobile battery plant.
In March 2021: GE Digital, based in the United States, introduced CIMPLICITY and Tracker software, which are multi-industry HMI/SCADA and MES routeing solutions that aid in the optimisation of operational efficiency. Tracker is intended for use by high-volume producers, such as automobile makers. CIMPLICITY is intended at businesses with several remote operations centres.
In April 2019: Honeywell has revealed plans for future volume production of laser communication equipment for satellite communication in conjunction with Ball Aerospace.
Industrial Control Systems (Energy & Power) Market Segmentation
Industrial Control Systems (Energy & Power) Market By Technology Outlook
- Integrated Control and Monitoring System (ICMS)
- Manufacturing Execution System (MES)
- Distributed Control System (DCS)
- Safety Instrumented System (SIS)
- Others
Industrial Control Systems (Energy & Power) Market By Component Outlook
- Remote Terminal Unit (RTU)
- Human-Machine Interface (HMI)
- Surge Protectors
- Marking Systems
- Modular Terminal Blocks
- Others
Industrial Control Systems (Energy & Power) Market By End-Use Outlook
- Beverage and Food Industry
- Chemical Industry
- Life and Medical Science
- Textile and Fiber Industry
- Heavy Machinery Industry
- Electronic Industry
- Alloys and Metal Industry
- Automotive Industry
- Others
Industrial Control Systems (Energy & Power) Regional Outlook
- North America
- US
- Canada
- Europe
- Germany
- France
- UK
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Australia
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Africa
- Latin America
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