Industrial Control Systems Security Market (2023-2030)
ndustrial Control Systems Security Market is projected to reach $30.2 billion by 2030, at a CAGR of 10.1% from 2023 to 2030.
- Published
- Apr 2023
- Pages
- 305
- Format
- PDF + Excel
- Report ID
- MRICT - 104653
- Base year
- 2022
- 2030 · FORECAST
- $30.20B
- 2030
- $30.20B
- CAGR 2023–2030
- 10.1%
2022 baseline · 2023–2030 forecast at 10.1% CAGR · hover a bar for the value
Key highlights
The Software Segment Segment to Register the Highest CAGR During the Forecast Period
In 2023, the Network Security Segment is Expected to Dominate the Industrial Control Systems Security Market
The Small And Medium-Sized Enterprises Segment to Register the Highest CAGR During the Forecast Period
In 2023, the Identity & Access Management Segment is Expected to Dominate the Industrial Control Systems Security Market
The FMCG Segment to Register the Highest CAGR During the Forecast Period
Asia-Pacific to Register the Highest CAGR During the Forecast Period
Report summary
| Particulars | Details |
|---|---|
| Base Year | 2022 |
| Estimated Year | 2023 |
| Forecast Period | 2023–2030 |
| Market Size (2030) | USD 30.20 billion |
| CAGR (2023–2030) | 10.1% |
| Format | PDF, Excel & Cloud Portal · 305 pages |
| Segments Covered | By Offering: Hardware, Software, Services Professional Services, Managed Services · By Security Type: Application Security, Endpoint Security, Cloud Security, Network Security · By Organization Size: Small and Medium-sized Enterprises, Large Enterprises · By Application: Data Loss Prevention, Unified Threat Management, Encryption, Identity & Access Management, Risk & Compliance Management, Antivirus/Antimalware, Intrusion Detection/Prevention, Distributed Denial of Service (DDoS) Mitigation, Security & Vulnerability Management, Security Configuration Management, Security Information & Event Management (SIEM), Whitelisting, Firewalls, Other Applications · By End-use Industry: Automotive, Electronics & Electrical, FMCG, Heavy Metals & Machinery, Energy & Utilities, Transportation, Other Industries |
| Countries Covered | North America (Canada), Europe (Germany, U.K., France, Italy, Spain, Netherlands, Denmark, Sweden, Rest of Europe), Asia-Pacific (Japan, China, India) |
| Key Companies | Fortinet, Inc., Cisco Systems, Inc., Juniper Networks, Inc., Palo Alto Networks, Inc., IBM Corporation, Check Point Software Technologies Ltd., ABB Ltd, Honeywell International, Inc., Schneider Electric SE, BAE Systems plc, Sophos Ltd., Claroty Ltd., Imperva, Inc., Darktrace Holdings Limited, Cyberbit Ltd, Airbus SE |
Report overview
Segments covered: offering, security type, organization size, application, end-use industry. Regions: North America, Europe, Asia-Pacific.
The growth of the Industrial control systems security market is driven by the consistent rise in the adoption of cloud-based services, government initiatives and regulations supporting the adoption of ICS security solutions. However, the high capital expenditure required for ICS security deployment may restrain the market's growth.
Furthermore, the increasing adoption of Industry 4.0 and smart manufacturing technologies and the growing demand for robotic process automation systems are expected to offer significant growth opportunities for the Industrial control systems security market. However, the lack of trained IT-OT professionals in the field of cybersecurity may hinder the growth of this market.
Report infographic
Market dynamics
1 factors across 1 forceConsistent Rise in the Adoption of Cloud-based Services to Drive the Growth for the Industrial Control Systems Security Market
In today’s modern connected world, most organizations and government bodies are becoming inclined toward cloud deployment and reshaping the approach to digitalization. The COVID-19 pandemic highlighted the importance of cloud-based platforms and services, forcing organizations to move their workloads to the cloud to gain agility and reduce expenses. In the industrial sector, the demand for cloud-based services for OT/ICS environments is rising as these services help organizations reduce costs, achieve sustainable growth, and leverage the benefits of digitalization. Cloud-based services enable fully remote work, allowing professionals to remotely manage industrial systems.
According to Statista, 49% of users prefer to remotely monitor, configure, and analyze the working of Operational Technology (OT) and Industrial Control Systems (ICS) in their organization using cloud-based services. The increasing adoption of cloud capabilities for ICS has enabled faster data communication, device performance analysis, device configuration management, improved diagnostics and troubleshooting, and a centralized view of processes, redundancy, and scalability. However, this has increased the vulnerability of ICS infrastructure. Several market players are collaborating to tackle security issues in ICS infrastructure. For instance, in 2022, XONA Systems (U.S.) partnered with Nozomi Networks Inc. (U.S.) to help critical infrastructure operators enhance and remotely manage the security of operational technology and industrial control systems. Also, in 2022, DE-CIX (Malaysia) partnered with BasicBrix Cloud Pte Ltd. (Singapore) to provide cloud computing and offer a wide range of cost-effective, secure cloud and infrastructure services for Malaysian SMEs. Such developments, along with the consistent rise in the adoption of cloud-based services, are driving the growth of the ICS security market.
Table of contents
13 chapters · 249 sections · 305 pages · click to expandSegmental analysis
| Segment | Largest share (2023) | Fastest growth (2023–2030) |
|---|---|---|
| By Offering | — | Software |
| By Security Type | Network Security | — |
| By Organization Size | — | Small and medium-sized enterprises |
| By Application | Identity & Access Management | — |
| By End-use Industry | — | FMCG |
By Offering
- The Software Segment Segment to Register the Highest CAGR During the Forecast Period
- The software segment is slated to register the highest CAGR during the forecast period.
- The growth of this segment is driven by the increasing concerns regarding data security and privacy and industrial enterprises’ consistent efforts to improve efficiencies, reduce costs, and increase security.
By Security Type
- The network security segment is expected to account for the larger share of the Industrial control systems security market.
- The segment’s large share is attributed to the rising adoption of network services, growing data security & privacy concerns, and the increasing demand for network security software solutions due to the growth in malware attacks.
By Organization Size
- The small and medium-sized enterprises segment is slated to register the highest CAGR during the forecast period.
- The rising awareness regarding the significance of ICS security among small and medium-sized enterprises is expected to boost the growth of the small and medium-sized enterprises segment at a higher CAGR during the forecast period.
By Application
- The identity & access management segment is expected to account for the largest share of the industrial control systems security market.
- The segment’s large share is attributed to the rapid increase in industrial control systems in the manufacturing sector and the growing demand for IAM solutions due to rising security concerns in the industrial sector.
By End-use Industry
- The FMCG Segment to Register the Highest CAGR During the Forecast Period
- The FMCG segment is slated to register the highest CAGR during the forecast period.
- The growth of this segment is driven by the adoption of advanced technologies in the FMCG market due to frequent changes in consumer preferences and increasing data breaches in FMCG companies.
Geographic analysis
Asia-Pacific
Fastest growthAsia-Pacific is slated to register the highest CAGR during the forecast period. The growth of this market is attributed to the advent of Industry 4.0 and increasing cyberattacks in the industrial sector. Asia-Pacific to Register the Highest CAGR During the Forecast Period
Competitive landscape
- Fortinet, Inc.
- Cisco Systems, Inc.
- Juniper Networks, Inc.
- Palo Alto Networks, Inc.
- IBM Corporation
- Check Point Software Technologies Ltd.
- ABB Ltd
- Honeywell International, Inc.
- Schneider Electric SE
- BAE Systems plc
- Sophos Ltd.
- Claroty Ltd.
- Imperva, Inc.
- Darktrace Holdings Limited
- Cyberbit Ltd
- Airbus SE
Frequently asked questions
The global industrial control systems security market is projected to reach $30.2 billion by 2030, at a CAGR of 10.1% during the forecast period.
Cite this report
Meticulous Research. (2023). Industrial Control Systems Security Market - Global Opportunity Analysis and Industry Forecast (2023-2030) (Report No. MRICT - 104653). Meticulous Market Research Pvt. Ltd. https://www.meticulousresearch.com/product/industrial-control-systems-security-market-5339