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ICS Security Market Growth To Be Stimulated By Brisk Technological Expansions

Market Overview

According to MRFR Analysis, the size of the industrial control system security market is set to grow at a CAGR of 6.9%, estimated to reach USD 22 Billion by 2030.

Disruptions in essential infrastructures such as the power grid, manufacturing, information technology, and transportation have a significant influence on a country’s economic stability, national security, safety, and health. Several governments have enacted federal laws and regulations in order to build cybersecurity requirements for vital infrastructure. Governments in various countries have established regulations and associations, such as the US DHS, the Department of Defense Information Assurance Certification and Accreditation Process (DIACAP), the North American Electric Reliability Council (NERC), the European Programme for Critical Infrastructure Protection (EPCIP), the European Commission’s (EC) Critical Infrastructure Warning Information Network (CIWIN), and the National Strategy and Action Plan issued by Public Safety Canada to ensure and enforce dependability standards and national security across the nation’s critical infrastructures. These organizations contribute to the security and resilience of a nation’s physical and cyberinfrastructures. Governments in many countries are also motivating firms to engage in CIP through cybersecurity insurance, grants, and tax breaks. As a result, numerous countries are implementing legislative compliances to protect data from cyber-attacks in order to boost the adoption of ICS security solutions.

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Market Segmentation

The industrial control system (ICS) security market has been segmented into solutions, system types, services, and verticals.

By solution, the global industrial control system (ICS) security market has been segmented into Unified Threat Management, Distributed Denial of Service, Data Loss Prevention, Firewall, and Antivirus.

By system type, the global industrial control system (ICS) security market has been segmented into SCADA, DCS, PLC, and Others.

By services, the global industrial control system (ICS) security market has been segmented into Risk Management, Communication Services, Managed Support, Change in Management, and Others.

By vertical, the global industrial control system (ICS) security market has been segmented into Energy & Power, Manufacturing, Transportation, Food & Beverage, and Others.

Key Players:

Siemens AG, Schneider Electric, Cisco Systems, Inc., Rockwell Automation, Inc., Check Point Software Technologies Ltd., Belden Inc., BAE Systems, ABB, and Fortinet, Inc.

The growth of the ICS security market is being driven by the increasing adoption of cloud-based services, government initiatives and regulations supporting the adoption of ICS security solutions, and the rising threat of cyberattacks on ICS systems.

Cloud-based services are becoming increasingly popular for ICS security as they offer a number of advantages over traditional on-premises solutions. Cloud-based services are more scalable and flexible, which is important for ICS systems that need to be able to adapt to changing demands. They are also more secure than traditional on-premises solutions, as they are hosted in secure data centers.

Governments around the world are also increasingly mandating the adoption of ICS security solutions. In the United States, for example, the Cybersecurity and Infrastructure Security Agency (CISA) has issued a number of directives requiring critical infrastructure organizations to implement ICS security measures.

The threat of cyberattacks on ICS systems is also a major driver of the ICS security market. ICS systems are increasingly being targeted by cyberattackers, as they control critical infrastructure that could be disrupted or damaged in a cyberattack.

The ICS security market is segmented by solution, service, security type, organization size, application, end-use industry, and region. The solution segment is further segmented into network security, endpoint security, application security, and database security. The service segment is further segmented into managed security services and professional services. The security type segment is further segmented into cloud security, on-premises security, and hybrid security. The organization size segment is further segmented into small and medium-sized enterprises (SMEs) and large enterprises. The application segment is further segmented into SCADA, PLC, DCS, and others. The end-use industry segment is further segmented into energy and utilities, manufacturing, transportation and logistics, and others. The region segment is further segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

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Conclusion:

Industrial control system security is no longer an option but a necessity in our increasingly digitized world. The risks posed by cyber threats are too significant to ignore. By adopting best practices and investing in comprehensive security measures, organizations can protect critical infrastructure, maintain operational resilience, and contribute to a safer and more secure future. Let us prioritize industrial control system security to ensure the continued growth and prosperity of our societies.