Industrial Control Systems Security Market Size, Revenue Analysis, PEST, Region & Country Forecast, 2022–2030
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Increasing concern over security breaches is a key factor driving industrial control systems security market revenue growth
Increasing concern over security breaches is a key factor driving industrial control systems security market revenue growth ”
— Emerging Research
VANCOUVER, BRITISH COLUMBIA, CANADA, September 13, 2022 /EINPresswire.com/ — Market Size – USD 17.09 Billion in 2021, Market Growth – at a CAGR of 6.9%, Market Trends – Increasing demand for building automation systems
The global industrial control systems security market size reached USD 17.09 billion in 2021 and is expected to register a revenue CAGR of 6.9% during the forecast period, according to the latest analysis by Emergen Research. Increasing demand for cloud-enabled industrial control systems security software is driving market revenue growth.
Industrial control systems security enables industry professionals to strengthen and improve the cybersecurity of their computer-controlled systems. These systems primarily consist of devices and networks that are used to operate and automate various industrial processes. Depending on the type of industry, each industrial control system operates and manages functions differently and efficiently. Increasing demand for industrial systems security is mainly owing to their efficiency and increased reliability. Moreover, rising trend of interconnectivity in industrial control systems security is also providing a lucrative opportunity for market expansion.
However, implementation of industrial control systems security requires robust collaboration between various public organizations, private companies, and central governments. Moreover, factors such as political differences, international fragmentation, and many others make it difficult to bring every stakeholder on a single platform and especially when implementing industrial control systems security solutions across industries such as oil & gas, power & utility, and manufacturing plants.
Evolving cyberattacks have also led to distrust among countries and there are various challenges associated with cybercrime legislation. This makes it even more difficult to implement industrial control systems security solutions. Therefore, governments across countries should come together and work constructively in order to address cybersecurity concerns related to the industrial ecosystem.
The market has been substantially affected by the pandemic, and changes can be seen in the market dynamics and demand trends. Financial difficulties brought by the pandemic have slowed down the progression of the businesses, and disruptions in the supply chains have been seen. The report assesses the comprehensive impact of the pandemic on the overall growth of the Industrial Control Systems Security market and offers a future impact assessment.
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Industrial Control Systems Security Market Competitive Outlook:
BAE Systems, Cisco, Honeywell International Inc., Claroty, CyberArk Software Ltd., Airbus, Palo Alto Networks, Sophos Ltd., ABB, and Tenable, Inc.
Emergen Research has segmented global industrial control systems security market on the basis of security type, service, solution, and region:
Security Type Outlook (Revenue, USD Billion; 2019-2030)
Service Outlook (Revenue, USD Billion; 2019-2030)
Incident Response Services
Support and Maintenance
Managed Security Services
Consultation and integration
training and development
Solution Outlook (Revenue, USD Billion; 2019-2030)
Identity & Access Management
Distributed Denial of Service Solution
Unified Threat Management
Security Information and Event Management
Intrusion Detection & Prevention
Data Loss Prevention
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Key Highlights From the Industrial Control Systems Security Market
Managed Security Services segment accounted for second-largest revenue share in 2021. As companies grow and compete, protecting endpoints, assets, and data from exfiltration, breach, or other cybersecurity threats becomes increasingly important. The security landscape’s complexity has increased dramatically in recent years. As a result, many companies are now looking to outsource some or all of their cybersecurity functions to a reputable security provider. Managed security services are a service model or capability that cybersecurity service providers offer to monitor and manage security devices, systems, and even Software-as-a-Service (SaaS) applications. A managed security services provider provides security monitoring and management around the clock.
Firewall is a software or firmware that is used to prevent unauthorized access to a network. It thoroughly inspects incoming and outgoing traffic using a set of rules to identify and block threats. Firewalls are important as they serve as the foundation for network security in modern computing. Most devices utilize firewalls to mitigate threats and also to inspect traffic. The aforementioned benefits are making modern companies incorporate them into their security information and event management strategy along with other security devices.
Market in North America accounted for largest revenue share in 2021. The rising adoption of robotic process automation systems across all industries is driving market growth in this region. Moreover, the US is the world’s leading supplier of cutting-edge software and information technology. Moreover, the US software firms operate in a mature, standardized market, and have a reputation for developing dependable and effective solutions.
Regional Segmentation Industrial Control Systems Security Market
North America (US, Canada)
Europe (UK, Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, UAE, South Africa, Rest of MEA)
In conclusion, the report provides a qualitative and quantitative analysis of the Global Industrial Control Systems Security market, including the global and regional analysis of the market. The study covers critical information and factual data about the Industrial Control Systems Security market industry, along with an in-depth statistical analysis of the market drivers, limitations, growth prospects, opportunities, and threats. On the basis of the current market scope, the report provides an extensive analysis of how the Industrial Control Systems Security market is expected to fare in the forecast timeline. The report utilizes advanced analytical tools to offer an estimation of the outlook of the global state of the Industrial Control Systems Security market industry.
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September 13, 2022, 11:05 GMT
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