Mumbai, India: Bharat book announces a report on "25 % Discount On Industrial Control Systems Security Market Forecast to 2022", It is expected to help stakeholders to understand the competitors better and gain more insights to enhance their position in the business.
Voluminous increase in cyber-attacks and network security threats on industrial control systems are driving the Industrial Control Systems security market
The Industrial Control Systems (ICS) security market size is expected to grow from USD 10.24 billion in 2017 to USD 13.88 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 6.3%. The market is driven by factors such as an exponential rise in cyber-attacks and network security threats, huge investments in smart technologies, and support from government organizations for ICS security. However, the high cost of innovation, budget constraints, and the presence of legacy ICS that are more prone to cyber threats are some of the major factors hindering the growth of the global ICS security market.
Identity and Access Management (IAM) solution is expected to grow at the highest rate during the forecast period
The IAM segment among the ICS security solutions is projected to grow at the highest rate during the forecast period since IAM reduces the risk of unauthorized access to critical systems. To better protect industrial sectors such as power, energy and utilities, chemical and manufacturing, and others, companies need to be able to control access to their networked resources, all of which have unique challenges. IAM also reduces the risk of malicious or untrained people gaining unauthorized access to critical infrastructure components and interfering with their operation, thereby lowering overall business risk.
Power sector in the ICS security market is expected to have the largest market share in 2017
Power sector represents the highest adoption of ICS security out of all the industry verticals since cyber-attacks are on the rise, and power industries are among the most frequent targets. ICS security in electricity and power companies help them to meet the challenges of the aging grid infrastructures, monitor the power system operation, maintain the balance between power generation and production, and provide a fast and efficient way to restore the services after interruptions.
The Middle East and Africa (MEA) is projected to grow at the highest CAGR
MEA includes economies, such as Kingdom of Saudi Arabia (KSA), United Arab Emirates (UAE), and Egypt, which are rapidly deploying ICS security solutions. MEA is expected to grow at the highest CAGR during the forecast period. Petroleum and oil and gas verticals are the most frequently targeted verticals for threats in the UAE and Saudi Arabia due to increasing industrial automation. Considering the political instability in most of the countries in the MEA region and growing vulnerability of critical infrastructures to cyber threats, ICS security spending is expected to be substantial in the coming 5 years. Furthermore, North America is expected to have the largest market size in 2017.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the ICS security market.
The breakup of the profiles of the primary participants is given below:
- By Company: Tier 1 – 18%, Tier 2 – 47%, and Tier 3 – 35%
- By Designation: C level – 54%, Director level – 39%, Others – 7%
- By Region: North America – 69%, Europe – 15%, APAC – 9%, RoW – 7%
The key ICS security providers profiled in the report are as follows:
- ABB Ltd. (Zurich, Switzerland)
- AO Kaspersky Lab (Moscow, Russia)
- BAE Systems, Inc. (Farnborough, UK)
- Bayshore Networks (Maryland, US)
- Belden Inc. (Missouri, US)
- Carbon Black, Inc. (Massachusetts, US)
- Check Point Software Technologies Ltd.( Tel Aviv, Israel)
- Cisco Systems, Inc. (California, US)
- Claroty (New York, US)
- CyberArk Software Ltd (Massachusetts, US)
- FirEye, Inc. (California, US)
- Fortinet, Inc. (California, US)
- General Electric Company (Massachusetts, US)
- Honeywell International Inc. (New Jersey, US)
- IBM Corporation (New York, US)
- Indegy (New York City, US)
- McAfee LLC (California, US)
- Nozomi Networks (California, US)
- Raytheon Company (Massachusetts, US)
- Rockwell Automation, Inc. (Wisconsin, US)
- Schneider Electrics (Rueil-Malmaison, France)
- SecurityMatters (Virginia, US)
- Siemens AG (Munich, Germany)
- Symantec Corporation (California, US)
- Trend Micro (Tokyo, Japan)
The ICS security market has been segmented based on solutions, services, security types, verticals, and regions. A detailed analysis of the key industry players has been done to provide key insights into their business overview; products and services; key strategies; new product launches; partnerships, agreements, and collaborations; expansions; and competitive landscapes associated with the ICS security market.
Reasons to Buy the Report:
The report will help the market leaders/new entrants in this market in the following ways:
- This report segments the ICS security market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different regions.
- The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
- This report is expected to help stakeholders to understand the competitors better and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystems, new product developments, partnerships, and mergers and acquisitions.
Related Report: Security Market Reports
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