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Industrial Control Systems Security Market Share 2022 Size, Competitive Landscape, Innovations and Business Outlook till 2030

The global industrial control systems (ICS) security market size is forecast to reach US$ 30.91 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.4% during the forecast period from 2022 to 2030

New York , United States- Report Ocean published the latest research report on the Industrial Control Systems Security market. In order to comprehend a market holistically, a variety of factors must be evaluated, including demographics, business cycles, and microeconomic requirements that pertain precisely to the market under study. In addition, the Industrial Control Systems Security market study demonstrates a detailed examination of the business state, which represents creative ways for company growth, financial factors such as production value, key regions, and growth rate.

The global industrial control systems (ICS) security market size was US$ 17.79 billion in 2021. The global industrial control systems (ICS) security market size is forecast to reach US$ 30.91 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.4% during the forecast period from 2022 to 2030.

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The purpose of industrial control system security is to prevent interference or unintentional interference with the operation of control systems and industrial automation. The system security also provides malware protection, extends the patching cycle, and reduces system complexity and maintenance requirements. A control system manages and controls specific functions, such as petroleum production, transportation, manufacturing, electricity, and communications. Power, energy, and transportation resources can use industrial control systems security in order to protect themselves against threats like Duqu, Flame, Night Dragon, and Stuxnet.

Factors Influencing Market Growth

Cyber-attacks and network security threats have increased due to investments in smart technologies. Therefore, government security organizations were required to participate in ICS security. These factors have contributed to the global market growth of industrial control systems security.

The growing adoption of cloud-based SCADA (supervisory control and data acquisition) systems is forecast to provide lucrative growth opportunities for the global market.

The rise of automation technologies and IoT across various industrial control applications, and increased investments for the deployment of smart grids, are propelling the growth of the global market.

The implementation of ICS security solutions requires company-wide coverage to provide smooth and secure operations, thereby increasing the cost of infrastructures, which proves prohibitively expensive for many operators, thus slowing down the overall market growth.

Impact Analysis of COVID-19

The COVID-19 has exhibited significant market growth. Due to the penetration of digital transformation strategies, the need for safety systems has directly increased. Consequently, problems like availability, performance, safety, and mounting IT costs added to the demand for industrial control systems solutions and services. Due to the proliferation of the internet and the ICS, the COVID-19 drove the adoption of industrial control methods. It provides advantages like better management and interconnection. In addition, the WFH trends and hybrid work models supported the market growth.

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Regional Insights

Globally, North America held the largest market share in 2021. As the market’s responsiveness for novel technologies and their development increases, such as the integration of IoT and cloud with ICS security solutions, this will spur its growth. A safety governance framework and a comprehensive secure access mechanism also contribute to market growth. International collaborations and Public-Private Partnerships (PPPs) contribute to the production of adequate ICS safety in the region.

The Asia Pacific is forecast to grow at the fastest CAGR in the industrial control systems (ICS) security market over the forecast period. Increasing safety concerns have led to greater investment in safety systems. South Korea, India, Japan, China, Australia, Hong Kong, and other prime emerging nations are exhibiting exponential growth in their industries and technological developments, while effective government regulations boost their markets. A growing need for sector-specific cybersecurity, more Public-Private Partnerships (PPPs), and more R&D across the region also contribute to the growing demand for ICS security.

Leading Competitors

The leading prominent companies profiled in the global industrial control systems (ICS) security market are:

ABB, Limited

Airbus CyberSecurity

Applied Security, Incorporated

BAE Systems plc

Belden Incorporated

Check Point Software Technologies

Cisco

Claroty, Limited

CyberArk

Cyberbit

Darktrace

Dragos, Incorporated

FireEye

Forescout Technologies

Fortinet

Honeywell

Kaspersky Labs

Lockheed Martin Corporation

Nozomi Networks Incorporated

Palo Alto Networks, Incorporated

Positive technologies

Radiflow

Raytheon Technologies Corporation

Sophos Group plc

Verve Industrial Protection

Other Prominent Players

Scope of the Report

The global industrial control systems (ICS) security market segmentation focuses on Component, Solution, Security Type, Vertical, and Region.

Segmentation based on Component

Solution

Services

Segmentation based on Solution

Anti-malware/Antivirus

Distributed denial-of-service (DDoS) Mitigation

Encryption

Firewall

Identity and Access Management (IAM)

Intrusion Detection Systems (IDS)/Intrusion Prevention Systems (IPS)

Security and vulnerability management

Security configuration management

Security information and event management (SIEM)

Whitelisting

Others

Segmentation based on Security Type

Network

Endpoint

Application

Database

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Segmentation based on Vertical

Power

Energy and Utility

Transportation Systems

Manufacturing

Others

Segmentation based on Region

North America

The U.S.

Canada

Mexico

Europe

Western Europe

The UK

Germany

France

Italy

Spain

Rest of Western Europe

Eastern Europe

Poland

Russia

Rest of Eastern Europe

Asia Pacific

China

India

Japan

Australia & New Zealand

ASEAN

Rest of Asia Pacific

Middle East & Africa (MEA)

UAE

Saudi Arabia

South Africa

Rest of MEA

South America

Brazil

Argentina

Rest of South America

What are the key findings of the report?
?This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
?The report offers the current state of the market and future prospects for various geographical regions.
?This report provides both qualitative and quantitative information about the competitive landscape of the market.

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