According to a new market report published by Credence Research Inc “Industrial Control Systems (ICS) Security Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2016 – 2023,” the industrial control systems (ICS) security market worldwide was valued at US$ 9.5 Bn in 2016, and is expected to cross US$ 16.5 Mn by 2025, expanding at a CAGR of 6.5% from 2017 to 2025. Increasing integration of IT technologies with ICS has increased the risk of cyber vulnerabilities and threats. Organization across the world have recognized the importance of ICS security solution and increasingly investing in ICS security solutions to avoid risk of operational failure and financial loss caused due to cyber threats. In addition, increasing industrialization and investment in automation across several industries is expected increase the demand for ICS security systems. In addition, several governments and countries have developed different standards and regulations to maintain security requirements for ICS. All these factors are driving the growth of ICS security solutions market.
Industry control systems (ICS) includes distributed control systems (DCS), supervisory control and data acquisition (SCADA) systems, and other control system configurations such as skid-mounted Programmable Logic Controllers (PLC) are often found in the industrial control sectors. ICS are typically used in industries such as oil and natural gas, electric, water management, transportation, pharmaceutical, chemical, pulp and paper, food and beverage, discrete manufacturing and other industries. Revolutions in ICS from isolated system to open source architecture, highly interconnected with multiple corporate networks and use of Internet opened platform for cyber-attacks. ICS systems consists of several weakness in it which makes easier for attackers to target critical infrastructure. Number of incidence of cyber threats to ICS system is continue to escalate in severity and frequency as attackers are identifying new ways to hack systems by exploiting the weakness of existing ICS. In order to overcome ICS threats several countries and governments have developed security standards for development ICS infrastructure. These standards includes for safeguarding ICS infrastructure. These standards include guidance related to security policy, secure configuration, secure network architecture and secure operating procedures for ICS.
The complete report is available at http://www.credenceresearch.com/report/global-industrial-control-system-ics-security-market
Based on technologies used in ICS security, market is classified into distributed denial of service (DDOS), intrusion detection/prevention system, antivirus/malware, firewall, virtualization security, security information and event management (SIEM), SCADA Encryption, unified threat management (UTM), application whitelisting, update and patch management, data loss prevention and database activity monitoring. Firewall is commonly used technology for blocking threats for ICS system and to control flow of communication by filtering harmful network traffic. Firewall accounted for the largest revenue share in the overall ICS security market by technology and is expected to maintain its dominating position through the forecast period. Database activity management (DAM) technology is used to monitor, capture and record database events in real time and plays important role in securing database from external attackers. DAM technology plays important role in meeting regulatory mandates related to payment card industry, health insurance and data security. DAM is expected to witness the fastest growth with its increasing applications in payment card and health insurance industry.
North America is the largest regional market for industrial control system (ICS) security solutions. In the last five years, the number of cyber-attacks in the U.S. increased by 490%. This is encouraging installation of ICS security solutions in the country. In Europe, oil and gas industry represent the most attractive end-use segment as more than 90% of oil and gas companies are not sufficiently taken necessary measures to avoid attacks on industrial control systems. It is also observed that more than 90% of SACADA systems are vulnerable to breaches in the UK.
About Credence Research:
Credence Research is a worldwide market research and counseling firm that serves driving organizations, governments, non legislative associations, and not-for-benefits. We offer our customers some assistance with making enduring enhancements to their execution and understand their most imperative objectives. Over almost a century, we’ve manufactured a firm extraordinarily prepared to this task.
Company Name: Credence Research
Contact Person: Chris Smith, Global Sales Manager
Address:105 N 1st ST #429, SAN JOSE, CA 95103 US
City: SAN JOSE
Country: United States