Increasing Incidents Of Cyber-Attacks Is Expected To Boost The Growth Of The Global Industrial Control Systems Security Market During The Forecast Period

Industrial Control Systems Security Market - Global Industry Analysis and Forecast 2021 to 2027

Global Industrial Control Systems Security Market: Key Highlights

  • The industrial control systems security market is majorly segmented into component, solution, services, security type, and end-user
  • On the basis of end-user, the market is bifurcated into automotive, chemical, power and utilities, pharmaceuticals, food and beverage, oil and gas, and others. The automotive segment is excepted to hold the largest share in the forecast period. as the field devices such as ICS, sensor, and robotics is creating a major opportunity for the auto industries to reach faster to the market demand  as well as to boost the  efficiency and helps to minimize the manufacturing downtime
  • On the basis of region, the market is segmented into the Americas, Europe, Asia-Pacific, and Middle East & Africa
  • Americas accounted for the major market share, with the growing investment in Research and Development (R&D) activities lead to the development of new technologies in the ICS security market in the region
  • Top players that account for the major share include ABB Ltd, BAE Systems, Cisco Systems, Inc., Darktrace, FireEye, Inc., Fortinet Inc, Honeywell, Lockheed Martin Corporation, Palo Alto Networks, Inc., Raytheon Technologies Corporation and among others.

Industrial Control Systems (ICS) Security Market

Global Industrial Control Systems Security Market: Key Market Dynamics

  • The increasing incidents of cyber-attacks lead to play a significant role in the industrial control systems security market. As the digital transformation is growing within the industrial environment, the cyber-security is becoming more important across the industries
  • The convergence of IT and OT networks is also lead to enhance the demand of the industrial control systems security market growth
  • Further, the rising adoption of IIoT is a significant opportunity for market growth
  • However, complexity in installing and upgrading is hindering the growth of the market.

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Global Industrial Control Systems Security Market: Regional Overview

  • Americas:
    • Americas region is further divided into North America and Latin America. Globally, the Americas accounted for the major market share
    • The presence of the major market player in the region is excepted to boost the growth of the market. The key players, such as Cisco, Lockheed Martin, Honeywell, Palo Alto Networks, FireEye, and Raytheon Company, as well as the several start-ups in the region, offers opportunities for the market growth
    • In May 2019, the Bayshore Networks, which is a networked world top 10 IoT security startup, today announced the release of OTfuse, a turnkey inline protection tool for critical assets on industrial networks. The Bayshore Networks is also announcing the addition of AutomaTech, Inc. to its list of certified distribution partners. With the coverage in both the northeastern United States and its CB Pacific affiliate in Seattle, the west coast
    • Furthermore, the growing pressure on the manufacturers as well as the rising labor cost, has also resulted in the growing adoption of automation in factories, which is projected to fuel the ICS security market.
  • Asia-Pacific
  • Asia-Pacific region is segmented into five major countries including China, Japan, India, Australia, and South Korea
  • The growing amount of cybercrimes, result in increased demand for the ICS security systems market in the region
  • In October 2019, the Cyber Security Agency of Singapore (CSA) had developed the Operational Technology (OT) Cybersecurity Masterplan to improve the security and resilience of Singapore’s Critical Information Infrastructure (CII) sectors in delivering essential services. This will lead to enhance cross-sector response to mitigate cyber threats in the OT environment as well as to strengthen partnerships with industry and stakeholders.

Global Industrial Control Systems Security Market: Key Players

Some of the key players operating in the market are ABB Ltd, BAE Systems, Cisco Systems, Inc., Darktrace, FireEye, Inc., Fortinet Inc, Honeywell, Lockheed Martin Corporation, Palo Alto Networks, Inc., Raytheon Technologies Corporation and among others.

Global Industrial Control Systems Security Market: Key Developments

  • In February 2020, Cisco launched a comprehensive security architecture for Industrial IoT (IIoT) in Dubai, UAE. Cisco’s IoT security infrastructure includes Cisco Cyber Vision and Cisco’s Edge Intelligence
  • In June 2019, Honeywell launched Honeywell Forge, an IIoT analytics platform that would collect operational data as well as analyze and optimize infrastructure
  • In March 2019, Lockheed Martin launched the LTE-over-Satellite system to deliver connectivity for remote regions to help people during natural disasters, such as hurricanes, wildfires, volcanoes, earthquakes, or catastrophic floods.

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Rep Id : ICT 0119

Published : 2020-11-10

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