Industrial Control Systems Security Market to grow by USD 10.8 billion from 2022 to 2027, The growing need to improve security to drive the growth- Technavio
NEW YORK, Sept. 25, 2023 /PRNewswire/ -- The industrial control systems security market is expected to grow by USD 10.8 billion from 2022 to 2027. However, the growth momentum of the market will progress at a CAGR of 7.79% during the forecast period. The market is segmented by Type (Network security and Cloud security), End-user (Oil and gas, Power, Chemicals and mining, Automotive, and Others), and Geography (North America, APAC, Europe, South America, and Middle East and Africa). The growing need to improve security is a key factor driving market growth. Businesses need to strengthen their security because cyber-attacks are becoming more frequent and complex. Moreover, there is an increase in false positives and false negatives due to the greater complexity of applications used by businesses daily. However, to reduce the funding required to train or recruit personnel assigned to this task, many companies have outsourced their security responsibilities, not only to qualified personnel but also to focus on security issues. Hence, these factors are expected to drive market growth during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View FREE PDF Sample
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The robotics system integration market size is estimated to grow at a CAGR of 9.89% between 2022 and 2027. The market size is forecast to increase by USD 4,752.09 million. This report extensively covers market segmentation by application (material handling, welding and soldering, assembly line, and others), end-user (electronics, automotive, healthcare, aerospace and defense, and logistics and others), and geography (APAC, Europe, North America, South America, and Middle East and Africa). Technological innovations in robotic system integration are the key factor driving the growth of the market.
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Historic Market Sizes
Five Forces Analysis
Market Segmentation by End-User
Market Segmentation by Geography
Drivers, Challenges, & Trends
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