Industrial Control Systems (ICS) Security Market Forecasts to 2028 – Global Analysis By Component (Service and Solution), Security Type (Application Security, Network Security, Database Security and Endpoint Security), System Type (Digital Combat Simulato

Industrial Control Systems (ICS) Security Market Forecasts to 2028 – Global Analysis By Component (Service and Solution), Security Type (Application Security, Network Security, Database Security and Endpoint Security), System Type (Digital Combat Simulator (DCS), Supervisory Control and Data Acquisition (SCADA) , Programmable Logic Controller (PLC) and Other System Types), End User and Geography

According to Stratistics MRC, the Global Industrial Control Systems (ICS) Security Market is accounted for $15.79 billion in 2022 and is expected to reach $26.33 billion by 2028 growing at a CAGR of 8.9% during the forecast period. An industrial control system (ICS) is made up of several control elements such as electrical, mechanical, hydraulic, and pneumatic components. The control component of the system contains the intended output or performance specification. Control might be completely automated or require a human in the process. Both closed-loop and open-loop setups, as well as manual operation, are supported by the systems. Industrial automation systems are becoming increasingly important as a result of large-scale, continuous, and highly parameterized industrial equipment. Furthermore, modern industrial control systems evolved from existing physical systems and added IT capabilities, frequently replacing or complementing physical control methods.

According to CAAM, China produced approximately 21 million passenger cars and 4.3 million commercial vehicles in 2019.

Market Dynamics:

Driver:

Increasing cyber threats on critical infrastructure

The growing number of cyber threats has pushed the market for industrial control system security forward. The amount of cyber-attacks on industrial control systems in the manufacturing, chemical, energy, and other industries is expanding. As hacking groups of all kinds attempt to enter industrial networks, there has been an increase in the usage of ICS security, which is expected to drive market growth. Furthermore, the use of new technologies has resulted in the generation of massive amounts of data, which has increased demand for ICS security, hence propelling the market.

Restraint:

High procurement costs of ICS security solutions

Procurement costs are an ongoing source of concern for providers. Investments in ICS security solutions are significant for controlling a country's overall economic stability and consolidating its security posture. The ICS security solution has some significant expenditure, including as licensing, hardware requirements, help desk charges, and maintenance and renewal activities, which are prohibitively expensive for a critical infrastructure business to implement. To address this issue, business service providers are aggressively investing in cloud-based security solutions.

Opportunity:

Convergence of IT and OT Networks

The convergence of information technology and operational technology is represented by the integration of OT systems, which are often associated with manufacturing and industrial environments and are used to monitor processes, events, and devices and make adjustments in business and industrial operations utilising ICS, such as supervisory control and data acquisition (SCADA), and IT systems for data-centric computing. To remain competitive and make better business decisions, an increasing number of industrial enterprises are connecting their IT and OT networks. These factors are creating lucrative opportunities for the market growth.

Threat:

Lack of awareness about Industrial Control System Security

One of the most significant concerns is the lack of security knowledge and vulnerabilities in enterprise systems. Automated asset management and configuration controls are not used in many ICS environments. Inadequate understanding of asset network management causes a vulnerability concern that stifles market expansion. In addition, there is a dearth of coordination between ICS and security providers for the development of appropriate solutions. As ICS suppliers adopt more modern technologies, interconnectivity between existing corporate networking infrastructures and the internet grows, making ICS more vulnerable to threats. As a result, enterprises face a significant barrier in identifying the nature of targeted attacks and maintaining defence against them, which limits the market growth.

Covid-19 Impact

The COVID-19 outbreak had a significant influence on the industrial control systems (ICS) security market. This is due to the fact that the threat of cyber-attacks on critical infrastructure firms has emerged as a key concern for government authorities, who must ensure that the essential security measures are in place. Because of COVID-19, adopting rapid digital transformation strategies has raised the need for security, which has resulted in additional difficulties such as performance, availability, security, and increasing IT expenditures, requiring industrial control security solutions and services. COVID-19 has changed the focus of ICS's operations to the use of the internet. As a result, the significance of Industrial Control Security is increasing.

The network security segment is expected to be the largest during the forecast period

The network security segment is estimated to have a lucrative growth, due to the high demand for protection for network services and network connection in automotive industries, oil& gas plants, and manufacturing sectors. Access control, anti-virus and anti-malware software, application security, behavioural analytics, cloud security, data loss prevention, firewalls, intrusion prevention systems, wireless security, and other network security solutions are available. Network security also assists industries in keeping sensitive data, such as personal information and private corporate materials, safe from unauthorised individuals. This is expected to fuel market expansion.

The transportation segment is expected to have the highest CAGR during the forecast period

The transportation segment is anticipated to witness the fastest CAGR growth during the forecast period, due to increasing adoption of ICS security for critical transportation networks such as surface transportation, highway, aviation, maritime, and pipeline. Vessels, ports, and other maritime transport components play an important role in facilitating large-scale commerce activities. As a result, safeguarding these systems is critical to ensuring the smooth operation of vessel and port operations, which drives the ICS security industry. Aviation is one among the most advanced in terms of cybersecurity standards implementation. Increasing security standards in the transportation sector are expected to generate chances for market expansion during the forecast period.

Region with highest share:

North America is projected to hold the largest market share during the forecast period owing to the rising number of cyber attacks on critical infrastructure. Also, because of the severe government laws governing CIP, CIP systems and government agencies play an important role in securing cyberspace while maintaining the benefits that it delivers to critical infrastructures. The increased government attention on security systems is propelling the market in North America.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period, owing to the fast expansion of the network infrastructure in the region. As a result of increased industrialisation, market expansion would have numerous opportunities. The government is on board, and China is expected to lead the world in the deployment of industrial networking technology. The automation trend is expected to be the primary driver of the market for Industrial Control Systems (ICS) Security. Large investments from well-known industrial firms would increase demand for Industrial Control Systems (ICS) Security throughout Asia-Pacific.

Key players in the market

Some of the key players profiled in the Industrial Control Systems (ICS) Security Market include AhnLab Inc., Broadcom Inc. (Symantec Corporation), Check Point Software Technologies Ltd, Cisco Systems Inc., Darktrace Ltd, FireEye Inc., Fortinet Inc., Honeywell International Inc., IBM Corporation, McAfee LLC, ABB , Raytheon Technologies, BAE Systems, Positive Technologies, Lockheed Martin Corporation, Nozomi Networks Inc., Verve industrial protection and Radiflow

Key Developments:

In September 2022, Cisco partnered with Radiflow for its OT security expertise. Radiflow would provide IDS in Cisco-run OT facilities

In March 2021, the acquisition of a majority share in Chargedot Shanghai New Energy Technology Co., Ltd. by ABB has been finalised. ABB claims that the acquisition would broaden its product line beyond industrial and collaborative robot arms to include AMRs. ASTI solutions currently generate $50 million in revenue per year, with a 30% annual growth rate. Thanks to the ABB sales and partner network, ASTI's global reach will now be expanded from 20 to 53 firms, including China.

Components Covered:
• Service
• Solution

Security Types Covered:
• Application Security
• Network Security
• Database Security
• Endpoint Security

System Types Covered:
• Digital Combat Simulator (DCS)
• Supervisory Control and Data Acquisition (SCADA)
• Programmable Logic Controller (PLC)
• Other System Types

End Users Covered:
• Power
• Energy and Utilities
• Manufacturing
• Transportation Systems
• Others End Users

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements