ICS Security Market to grow at 20% CAGR from 2018 to 2024
The technology research report “Industrial Control Systems (ICS) Security Market Size By Security Type (Network Security, Application Security, Endpoint Security, Database Security), By Component (Solution [Firewall, SCADA Encryption, Antivirus/Anti-Malware, Intrusion Detection & Prevention, Identity & Access Management {IAM}, Distributed Denial of Service {DDoS} Solution, Data Loss Prevention {DLP}, Virtualization Security, Security Information and Event Management {SIEM}, Unified Threat Management {UTM}], Service [Managed Service, Integration & Consulting, Audit & Reporting, Risk Management]), By Application (Power and Energy, Critical Manufacturing, Mining, Water Utility, Transportation, Chemical), Industry Analysis Report, Regional Outlook (U.S., Canada, UK, Germany, France, Italy, Spain, China, Japan, Australia & New Zealand (ANZ), South Korea, India, Brazil, Mexico, Argentina, GCC, South Africa), Growth Potential, Competitive Market Share & Forecast, 2018 - 2024” by Global Market Insights, Inc. says ICS Security Market to exceed USD 7 billion by 2024; driven by increasing incidents of cyber-attacks on offshore industrial platforms and marine operations.
The ICS security market growth is attributed to the increasing incidents of cyber-attacks on critical infrastructure industries. Constantly evolving cyber threats, such as ransomware and viruses, can adversely affect production processes in critical infrastructure environments resulting in large-scale financial losses for the companies. The security concerns have increased considerably after the Industry 4.0 revolution as the tendency to connect ICS equipment to the internet has grown significantly in the industries. Also, government and industry initiatives to establish standards and regulations to ensure enhanced ICS security are expected to facilitate a robust growth of the ICS security market over the forecast timeline.
The endpoint security segment held a majority share of around 40% in the ICS security market in 2017 due to large-scale deployment of endpoint security solutions in critical industrial environments for securing different endpoint devices in the industrial networks that remain vulnerable to cyber threats. The network security market is projected to exhibit a robust growth with a CAGR of around 26% between 2018 and 2024 due to the increasing incidents of network breaches in critical industrial sectors leading to large-scale production losses for the enterprises as well as increased concerns for national security.
Request for a sample of this research report @ https://www.gminsights.com/request-sample/detail/2680
The firewall segment dominated the market in 2017 and is expected to secure a significant share of the overall ICS security market by 2024 due to an extensive adoption of ruggedized firewalls for maintaining and managing network traffic in industrial infrastructure operating in harsh environmental conditions. Firewalls play a critical role in containing internal cyber incidents and blocking external threats that could heavily impact productivity, safety, and reliability. They manage the flow of communication and examine the data packets to ensure blocking of harmful network traffic. Hence, the adoption of firewalls for ICS security is likely to increase consistently over the forecast timeline.
The energy sector held a major share of nearly 40% in the ICS security market in 2017 and is expected to maintain this market dominance throughout the forecast period. The increasing incidents of cyber-attacks on the energy industry including gas pipeline infrastructure, oil & gas platforms, and power utility infrastructure are majorly contributing to the growing emphasis on securing critical energy production and distribution networks. Government agencies are taking appropriate measures to secure critical national energy infrastructure from terrorist attacks that could lead to a major economic loss.
North America held around 50% share of the ICS security market in 2017 and is projected to hold a significant share of the overall market between 2018 and 2024. With the availability of extensive industry standards, regulatory guidelines, and government initiatives in the U.S., the adoption of ICS security solutions is expected to grow in a structured manner across different industry verticals such as energy, advanced manufacturing, mining, and transportation. The National Cybersecurity and Communications Integration Center (NCCIC) under the U.S. Department of Homeland Security continuously strives to reduce the risk of cybersecurity challenges to the critical national infrastructure. With the consistent focus on maintaining a secure and robust cyber and communications infrastructure, such government agencies are encouraging the development of deploying advanced ICS security solutions.
Make an inquiry for purchasing this report @ https://www.gminsights.com/inquiry-before-buying/2680
Companies operating in the ICS security market focus on product innovation and strategic collaborations for securing a competitive advantage. By monitoring and analyzing the number of vulnerable ICS components on a yearly basis, these companies develop appropriate solutions as well as updates to their existing solutions for ensuring effective security against the constantly evolving cyber threats. In February 2018, GE Digital entered into a partnership with NRI Secure Technologies, a cybersecurity firm in the U.S., wherein, NRI Secure was recognized as an accredited certification authority for GE Digital’s Achilles Communications Certification (ACC) program. Through the partnership, GE expanded its global OT network robustness certification program. In February 2017, Rockwell Automation teamed up with industrial security company Claroty to develop its anomaly detection software that is purpose-built for industrial network security. It creates an inventory of network assets and monitors traffic between them to detect and report anomalies. Through such strategic collaborations and partnerships, the companies operating in the ICS security market ensure the delivery of comprehensive security solutions and services to their customers.
Some of the key players operating in the ICS security market are ABB, BAE Systems, Bayshore Networks, Belden, Cisco, Cyberbit, Dragos, Fortinet, General Electric, Honeywell, IBM, Kaspersky, Nozomi Networks, Rolloos, FireEye, McAfee, Claroty, Raytheon, Schneider Electric, SecurityMatters, Symantec, and Trend Micro.
ICS security market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2013 to 2024, for the following segments:
ICS Security Market, By Security Type
Network security
Application security
Endpoint security
Database security
ICS Security Market, By Component
Solution
Firewall
SCADA encryption
Antivirus/Anti-Malware
Intrusion detection & prevention
Identity & Access Management (IAM)
Distributed Denial of Service (DDoS) solution
Data Loss Prevention (DLP)
Virtualization security
Security Information & Event Management (SIEM)
Unified Threat Management (UTM)
Service
Managed service
Integration & consulting
Audit & reporting
Risk management
ICS Security Market, By Application
Power and energy
Critical manufacturing
Mining
Water utility
Transportation
Chemical
The above information has been provided for the following regions and countries:
North America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
APAC
China
Japan
Australia & New Zealand (ANZ)
South Korea
India
LAMEA
Brazil
Mexico
Argentina
GCC
South Africa
Browse key industry insights spread across 300 pages with 304 market data tables & 31 market data tables & 9 figures & charts from the report, Industrial Control Systems (ICS) Security Market in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/industrial-control-systems-ics-security-market
About Global Market Insights
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
Contact Us:
Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone:1-302-846-7766
Toll Free:1-888-689-0688
Email:[email protected]
Web:https://www.gminsights.com
Blog:http://technologymagazine.org/
Connect with us:Facebook|Google+|LinkedIn|Twitter