Market Research Future (MRFR) studied the impact of corona pandemic on the industrial control system (ICS) market 2020. As per MRFR analysis, the ICS Security Market can rise at 6.81% CAGR across the review period 2018 to 2023. The industrial control systems security industry can generate substantial revenue on the conclusion of the evaluation period.
Modern industrial control systems can prone to cybercrime, thus the need for sophisticated security shielding is rising. In current time, the growing incidences of security breach in ICS support the mentioned. This in identified as the chief factor that can boost the market revenue substantially. The high need for robust ICS security solutions can fuel the market growth. ICS security are bolstered by interconnected infrastructures and cohesively functioning network to safeguard industrial functions. This can boost the expansion of the Industrial Control Security Systems Market in the assessment period.
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. The high demand for ICS security solutions in the foreseeable future due to significant rise in the integration advanced technologies can promote the expansion of the industrial control system market.
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The prominent players in the Industrial Control System (ICS) Security Market are – Cisco Systems Inc. (U.S.), Honeywell International Inc. (U.S.), Juniper Networks Inc. (U.S.), (U.S.), Siemens AG (Germany), Rockwell Automation Inc. (U.S.), Tofino Security Inc. (Canada), Trend Micro Inc. (Japan), Check Point Software Technologies Ltd. (U.S.), ABB Ltd. (U.K.), among others.
The segment study of the ICS security market is based on vertical, control system type, service, and solutions.
The control system type based segments of the ICS market are SCADA, DCS, PLC, and other. The SCADA segment can generate above USD 6 Bn revenue by the end of the evaluation period for the industrial controls system market.
The vertical based industrial control system market segments are manufacturing, food & beverage, transportation, energy & power, and others. The energy & power segment brings about 32% business to the market and is all set to rise at a high pace in the near future.
The service-based segments of the ICS market are change in management, risk management, managed support, and communication services among others. The risk management segment can generate above USD 3 Bn revenue for the market by 2023.
The solution based segments of the ICS market are Firewall, Distributed Denial of Service (DDOS), Antivirus and Data Loss Prevention, and Unified Threat Management (UTM) among others. The firewall segment can surge at 6.17% CAGR across the review period.
North America can head the world ICS security across the review period. North America ICS market holds 50% of the world market share and is expected to maintain its hegemony, rise at 5.59% CAGR across 2018 to 2023. Factors that are observed to improve the expansion of ICS market in the U.S. and the rest of North America are early adoption of security solutions and technical convenience. The high susceptibility to sophisticated technology to high-profile cyber-attacks can favor the ICS market in North America. In Europe, the ICS market are likely to be driven by growth factors observed in America. Rapid globalization, rise of corporate culture, and fast paced industrialization can spur the industrial control system market in Asia Pacific. Inclination towards automation and high utility of modern industrial solutions can boost the expansion of the global industrial control system market in the Asia Pacific region in the upcoming years.
- Consulting firms
- Government organizations
- IT industry
- Security service providers
- Security service vendors
- Research organizations
- Technology end users
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