Market Analysis

Market Research Future (MRFR) estimates the global ICS Security Market outlook to witness a CAGR of 6.81% from 2018-2023 (forecast period).

The Global Market to Grow Amid COVID-19 Crisis

In the wake of the COVID-19 pandemic, numerous governments and regulatory bodies need both public and commercial enterprises to adopt new strategies for working remotely while maintaining social distancing. Since then, digital business practices have become the new business continuity plan (BCP) for many firms. With the widespread use of BYOD devices, the WFH trend, IIoT, and internet penetration throughout critical industry verticals like oil and gas, power grids, and manufacturing, individuals and enterprises are increasingly inclined to use digital technologies like ICS solutions, pushing the need for ICS security measures for cyber-attack protection.

ICS security solutions allow enterprises to ensure business continuity while also protecting themselves from cybercrime and hostile threat actors. To tackle the current predicament, many sectors are substantially spending in R&D to develop enhanced ICS-security solutions and services.

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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

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Market Segmentation

The ICS Security Market outlook has been segmented into solution, system type, services, and vertical.

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.

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Regional Analysis

North America to Capture the Greatest Market Size

North America has stable and well-established economies, allowing it to engage considerably in R&D operations and so contribute to the development of new technologies in the ICS security industry. The presence of the majority of significant players in the ICS security market is projected to be a prominent driver driving the industry's growth in this region.