Industrial Control Security Market by Component (Services, Solutions), Security Type (Application Security, Database Security, Endpoint Security), Vertical - Global Forecast 2024-2030

Industrial Control Security Market by Component (Services, Solutions), Security Type (Application Security, Database Security, Endpoint Security), Vertical - Global Forecast 2024-2030

The Industrial Control Security Market size was estimated at USD 14.14 billion in 2023 and expected to reach USD 15.16 billion in 2024, at a CAGR 7.87% to reach USD 24.04 billion by 2030.

Industrial Control Security (ICS) refers to the collective measures, methodologies, and protocols employed to secure the operational technology (OT) and industrial control systems (ICS) that empower critical infrastructures and industrial operations. ICS constitutes the operational backbone of industrial entities, controlling and managing the core processes, product creation, and distribution systems. The security of these systems is integral to ensuring business continuity, resilience against evolving cyber threats, and the integrity of critical infrastructure. The increasing demand to fortify industrial infrastructure against cyber threats, the escalating integration of Internet of Things (IoT) devices, and the widespread transformation due to Industry 4.0 accelerates the growth of industrial control security. However, ambiguity in regulations across different regions complicates adherence and can hamper consistency in security protocols. Nevertheless, the introduction of novel technologies and increased spending on cybersecurity by corporations is expected to bring potential opportunities for the market's growth.

Regional Insights

The industrial control security market in the Americas is highly developing, driven by a robust technological infrastructure, advanced policy regulations, and the presence of a majority number of vendors. The surge in industries’ demand for secure and reliable business operations in the developed economies has propelled the demand for industrial control security products in the Americas. The industrial control security market in the EMEA region is primarily driven by initiatives focusing on adopting secure industrial control systems within industries such as manufacturing, energy, and power. Particularly, the surge in cybersecurity threats in this region has substantially amplified its importance of industrial control security across Europe, the Middle East, and Africa. The rapidly growing industrial sector and increased significance for industrial control systems security significantly propel the demand for advanced industrial control security products in the region. The Asia-Pacific region is highly focused on a more digitalized industrial sector with a greater promise for industrialized control systems.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Industrial Control Security Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Emerging trend of Industry 4.0 and proliferation of IoT devices worldwide
Increasing demand from automotive industries globally
Expanding applications in manufacturing and power sectors

Market Restraints

High cost of industrial control security solutions

Market Opportunities

Improvements in industrial control security solutions
Significant investments in industrial control security solutions

Market Challenges

Concerns associated with data privacy and security

Market Segmentation Analysis

Component: Burgeoning adoption of incident response services as they develop a recovery plan to avoid potential future disruptions, safeguarding business operations
Security Type: Growing usage of network security as it prevents unauthorized access
Vertical: Evolving utilization of industrial control security in the manufacturing sector

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Industrial Control Security Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Industrial Control Security Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Siemens Unveils Advanced Security Suite for Industrial Control Systems

Siemens introduced a cutting-edge security testing suite to enhance the cybersecurity of industrial control systems. This all-in-one suite is designed to detect and protect against cyber threats while guiding remediation. By offering a comprehensive and fully automated approach, Siemens aims to increase the protection level for industrial control systems significantly.

Introducing Schneider Electric's Advanced Managed Security Service for Industrial Control Systems

Schneider Electric introduced a new managed security service focusing on industrial control systems. This comprehensive offering includes round-the-clock monitoring, vulnerability scanning, threat intelligence, and incident response, all tailored to meet the unique needs of business operations. The service is designed to safeguard corporate IT networks and the operational technology that drives industrial production processes.

Valmet and TXONE Networks Forge Strategic Alliance to Elevate Industrial Control System Security

Valmet announced an exciting new partnership with TXONE Networks to enhance the security of industrial control systems. This collaboration combines Valmet's extensive expertise and TXONE Network's advanced technologies to protect customers against cyber-attacks. Valmet can offer a comprehensive and proactive approach to cyber defense by leveraging predictive analytics capabilities and real-time behavior monitoring.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Industrial Control Security Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Industrial Control Security Market, highlighting leading vendors and their innovative profiles. These include ABB Ltd., Airbus SE, Amazon Web Services, Inc., BAE Systems PLC, Bayshore Networks Inc., Belden Incorporated, Check Point Software Technologies Ltd., Cisco Systems, Inc., Claroty Inc., CyberArk Software Ltd., Dragos, Inc., Fortinet, Inc., General Electric Company, Honeywell International Inc., International Business Machines Corporation, Lockheed Martin Corporation, Microsoft Corporation, Mitsubishi Corporation, Nozomi Networks Inc., Palo Alto Networks, Inc., Raytheon Technologies Corporation, Rockwell Automation Inc., Schneider Electric SE, Secmation, and Siemens AG.

Market Segmentation & Coverage

This research report categorizes the Industrial Control Security Market to forecast the revenues and analyze trends in each of the following sub-markets:

Component
Services
Consultation & Integration
Incident Response Services
Managed Security Services
Support & Maintenance
Training & Development
Solutions
Antimalware or Antivirus
DDoS Mitigation
Encryption
Firewall
Identity & Access Management
Intrusion Detection & Prevention Systems
Security & Vulnerability Management
Security Information & Event Management
Whitelisting
Security Type
Application Security
Database Security
Endpoint Security
Network Security
Vertical
Energy & Utilities
Manufacturing
Power
Transportation
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year