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The global Industrial Control Systems (ICS) security market is expected to grow from USD 13.20 billion in 2018 to USD 18.05 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 6.5%
[September 10, 2018]

The global Industrial Control Systems (ICS) security market is expected to grow from USD 13.20 billion in 2018 to USD 18.05 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 6.5%


NEW YORK, Sept. 10, 2018 /PRNewswire/ -- Convergence of IT and OT is expected to drive the overall growth of the ICS security market.
The global Industrial Control Systems (ICS) security market is expected to grow from USD 13.20 billion in 2018 to USD 18.05 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 6.5% during the forecast period. The ICS security market growth is driven by various factors, including huge investments by organizations in Industry 4.0, convergence of Information Technology (IT) and Operational Technology (OT), and rise in the number of cyber threats on the critical infrastructure. However, growing concerns about power outage, due to frequent security updates, and legacy ICS being more prone to cyber-attacks may hinder the growth of the market.

Read the full report: https://www.reportlinker.com/p05184188

The encryption solution is expected to grow at the highest CAGR during the forecast period
The encryption solution is expected to be the fastest growing segment in the ICS security market.The ICS security market by solution has been segmented into antimalware/antivirus, Distributed Denial of Service (DDoS) mitigation, encryption, firewall, Identity and Access Management (IAM), Intrusion Detection System/Intrusion Prevention System (IDS/IPS), security and vulnerability management, security configuration management, Security Information and Event Management (SIEM), whitelisting, and others.

Encrypting ICS helps mitigate common attacks, such as data thefts and DDoS attacks, and provides high reliability, performance, and availability of the network on-demand.

The energy and utilities vertical is expected to hold the largest market share during the forecast period
Companies in the energy and utilities vertical are adopting next-generation ICS security solutions and services to safeguard the industrial network, endpoint, application, data, and cloud environment.Energy and utilities plants and organizations are highly prone to cyber-attacks and physical attacks.

Any cyber-attack can bring down the entire plant and result in health hazards, environmental hazards, and huge financial loss.On the other hand, the manufacturing vertical is expected to grow at the highest CAGR during the forecast period.

The growth in the manufacturing vertical in the ICS security market can be attibuted to the increasing cyber-attacks on critical manufacturing industries, such as automotive, chemical, and mining.




The Middle East and Africa (MEA) is expected to record the fastest growth rate during the forecast period
MEA is expected to have the fastest growth rate during the forecast period, due to the wide-scale adoption of ICS security solutions in every vertical in the region for protecting the network infrastructure, applications, and other critical infrastructure from vulnerabilities and preventing attackers from exploiting security flaws to illegally access critical information.Key MEA countries that are showing high adoption of ICS security solutions and services include the Kingdom of Saudi Arabia (KSA), United Arab Emirates (UAE), Israel, and South Africa.

Moreover, North America is projected to hold the largest market size during the forecast period.
In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, other innovation and technology directors, and executives from various key organizations operating in the ICS security marketplace.
• By Company Type: Tier I: 35%, Tier II: 55%, and Tier III: 10%
• By Designation: C-Level Executives: 60%, Directors: 25%, and Others 15%
• By Region: North America: 25%, Europe: 35%, APAC: 25%, MEA: 10% and Latin America: 5%


The ICS security market comprises major solution providers, such as ABB (Switzerland), Check Point Software (Israel), Cisco (US), Honeywell (US), McAfee (US), FireEye (US), Fortinet (US), BHGE (US), Kaspersky Lab (Russia), Belden (US), Airbus (France), BAE Systems (UK), Bayshore Networks (US), Dragos (US), CyberArk (US), Cyberbit (Israel), Indegy (US), Nozomi Networks (US), Palo Alto Networks (US), Rockwell Automation (US), Schneider Electric (France), SecurityMatters (Netherlands), Sophos (US), Symantec (US), Positive Technologies (US), and Waterfall Security Solutions (Israel). The study includes an in-depth competitive analysis of these key players in the ICS security market, along with their company profiles, recent developments, and key market strategies.

Research Coverage
The market study covers the ICS security market across segments.It aims to estimate the market size and the growth potential of this market across different segments, such as solutions, services, security types, verticals, and regions.

The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key Benefits of Buying the Report
The report will help the leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall ICS security market and its subsegments.This report will help stakeholders understand the competitive landscape and gain more insights to better position their business and plan suitable go-to-market strategies.

The report will also help stakeholders understand the pulse of the market and provides them with information on the key market drivers, restraints, challenges, and opportunities.

Read the full report: https://www.reportlinker.com/p05184188

About Reportlinker
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

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