Industrial Control Systems Security Industry Overview
|Study Period:||2018 - 2028|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
*Disclaimer: Major Players sorted in no particular order
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Industrial Control Systems Security Market Analysis
The Industrial Control Systems (ICS) Security Market is expected to grow at a CAGR of 13.7% over the forecast period (2022 to 2027).
- The transition to Industry 4.0 is expected to bring many advances in efficiency and productivity, as well as many changes in the way the industrial processes work. Compared to the conventional manufacturing process, improved efficiency and reduction in production costs have boosted the adoption of automation, driving the demand for industrial control systems. However, the adoption of ICS solutions brings along the need for security, as there is an exponential rise in cyber-attacks and network security threats.
- The growing number of cyber threats has fueled revenue growth in the worldwide industrial control systems security market. With the increasing number of cyber-attacks, the adoption of industrial control systems is increasing in the manufacturing, chemical, energy, and other industries. With increasing attempts by hackers to enter business networks, the use of ICS security is growing significantly. Furthermore, the adoption of advanced technologies is resulting in the generation of massive amounts of data, increasing demand for ICS security, and as a result, driving revenue growth in the global market.
- The stringent government rules and regulations related to the Continuous Improvement Programme (CIP) to increase the adoption of ICS security solutions and the adoption of advanced technologies such as the Internet of Things (IoT) in industries has increased demand for the ICS security market. The industrial network infrastructure's large number of connected sensors and controllers has made security more difficult. The growing use of IoT technology and other network devices in industries has expanded the threat surface for criminals. ICS security is necessary for organizations' IoT applications, which will drive the market.
- The COVID-19 pandemic and lockdown restrictions across the region have affected industrial activities. The pandemic increased consumers' dependence on the internet, further increasing the market for industrial control systems. The outbreak of COVID-19 has forced manufacturing industries to re-evaluate their traditional production processes, primarily driving the digital transformation and smart manufacturing practices across the production lines. The manufacturers are also forced to devise and implement multiple new and agile approaches to monitor product and quality control.
- The aging hardware or software of the ICS in many organizations is another factor responsible for increased complexity. Most organizations still use legacy ICS, owing to their importance in the functioning of the plant. This increased age of ICS leaves ample opportunities for cyberattacks and increases complexity. Also, the cost of a security system or platform is another factor hindering the deployment of ICS security services in organizations. Justifying the cost incurred for the security solutions is quite difficult for various reasons.
Industrial Control Systems Security Industry Segments
Industrial control systems (ICS) security includes securing and safekeeping industrial control systems and the software and hardware used by the system. It focuses on keeping processes and machinery running smoothly. The offered solutions include integrated hardware and software packaged to control and monitor the operation of machinery and associated devices operating in industrial environments.
|Chemical and Petrochemical|
|Power and Utilities|
|Food and Beverage|
|Oil and Gas|
|Other End-user Industries|
|Middle East and Africa|
Industrial Control Systems Security Market Trends
This section covers the major market trends shaping the Industrial Control Systems Security Market according to our research experts:
Automotive is Expected to Hold a Significant Share
- ICS offers opportunities to the automotive industry to react faster to the market requirements, reduces manufacturing downtimes, enhances the efficiency of supply chains, and expands productivity.
- Field devices, such as robotics and sensors, and ICS offer opportunities to the auto sector to react faster to market requirements, reduce manufacturing downtimes, enhance efficiency, and expand productivity.
- The automotive industry is among the prominent sectors that hold a significant share of automated manufacturing facilities worldwide. The production facilities of various automakers are automated to maintain efficiency. The rising trend of replacing conventional vehicles with electric vehicles (EVs) is expected to augment the automotive industry's demand further. For instance, IEA states global electric car sales doubled from 3.0 million in 2020 to 6.6 million in 2021.
- Various automotive enterprises are forming partnerships with the ICS providers to upgrade their facilities. For example, S&T Technologies, a provider of IoT software framework, SUSiEtec, and ICONICS signed a collaboration agreement. The contract specifies that S&T Technologies will integrate SCADA capabilities into the SUSiEtec software framework.
- Despite a considerable slowdown in the automotive industry, automotive production facilities led by electric vehicle manufacturers are expected to increase the number of smart/internet-connected ICS solutions installed in a facility, significantly increasing the demand for ICS Security solutions.
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North America is Expected to Hold the Largest Share
- North America has been a pioneer in implementing ICS security solutions. This region has also been extremely responsive to the latest technological advancements, such as integrating cloud and IoT with ICS security solutions to set a holistic secure access mechanism and enforce a security governance framework. The Public-Private Partnerships and international partnerships have led to effective ICS security and resilience in the region.
- According to the Department of Homeland Security (DHS), The private sector owns 85% of critical infrastructure in the United States, including oil and gas, banking and finance, transportation, utilities, electric power grids, and defense. In contrast, the public sector regulates the rest. For instance, the region's energy and power grid sectors require public, private, and regulatory collaboration among DHS, the Department of Energy (DOE), and the Department of Defense (DOD) to protect their operational technology and Industrial Control Systems from cyber threats. Furthermore, cloud-based ICS security solutions and services are becoming increasingly popular in this region.
- Canadian manufacturers rely on innovation and investment in technologies to be competitive. The increasing input, labor cost, and competition from large global manufacturers enabled the country to invest in ICS and allied technologies to remain competitive and maintain its operating margins.
- Furthermore, according to the Government of Canada 2021, the manufacturing industry is estimated to contribute more than 10% to the Canadian GDP. The manufacturing sector is the largest investor in the R&D and implementation of new technologies in Canada.
- Recently, MITRE Corporation released ATT&CK for Industrial Control Systems, a taxonomy of cyber attack behavior targeting ICS. The company was launched to address critical infrastructure operations in manufacturing and utility industries with financial and espionage-motivated attacks and industry awareness.
- However, the country's resistance to regulation and growing complexities in securing ICS systems may act as a roadblock to the passage of critical infrastructure cybersecurity legislation.
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Industrial Control Systems Security Market Competitor Analysis
The Industrial Control System Security Market is highly competitive and consists of several major players. Many companies have been increasing their market presence by introducing new products, entering partnerships, or acquiring companies.
- September 2021 - Honeywell acquired privately held Performix Inc., a manufacturing execution system (MES) software provider for the pharmaceutical manufacturing and biotech industries. The acquisition builds on Honeywell's strategy to create the world's leading integrated software platform for customers in the life sciences industry, striving to achieve faster compliance, improved reliability, and better production throughput at the highest levels of quality.
- August 2021 - CyberProof, a leading provider of cyber security solutions based in California, United States., announced a collaboration with Radiflow, a Tel Aviv-Yafo, Israel-based provider of cyber security solutions for industrial networks. In addition, the partnership strengthens CyberProof's ability to provide comprehensive Managed Detection and Response (MDR) services for converged Information Technology (IT) or Operational Technology (OT) systems.
Industrial Control Systems Security Market Top Players
Cisco Systems Inc.
Honeywell International Inc.
Broadcom Inc. (Symantec Corporation)
Rockwell Automation Inc.
*Disclaimer: Major Players sorted in no particular order
Industrial Control Systems Security Market Recent Developments
- April 2022 - Mandiant collaborated with Schneider Electric to analyze INCONTROLLER, a set of novel industrial control system (ICS)-oriented attack tools designed to target machine automation devices. The tools can interact with specific industrial equipment embedded in various types of machinery used in multiple industries. While targeting any operational environments using this toolset is unclear, the malware poses a serious risk to organizations that use the targeted equipment. INCONTROLLER is most likely state-sponsored and possesses capabilities for disruption, sabotage, and possibly physical destruction.
- November 2021 - Palo Alto Networks, headquartered in California, has announced a partnership with Siemens, headquartered in Munich, Germany, to integrate their VM-Series firewalls into Siemens Ruggedcom networking and security platforms. Furthermore, this collaboration will allow businesses to safeguard their industrial control systems and other critical infrastructure without sacrificing security, performance, or scalability. Moreover, the partnership enables customers to extend security policies beyond information technology (IT) to required operational technology (OT) and industrial control systems.
- September 2021 - In-Space Missions, a UK-based company that designs, operates, and builds satellite systems, was acquired by BAE Systems. The acquisition will combine BAE Systems' experience in robust security satellite communications with In-Space Missions' full lifecycle satellite capabilities to deliver an appealing sovereign UK space proposition.
Industrial Control Systems Security Market Report - Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 Assessment of Impact of COVID-19 on the Market
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Rising Incidence of Cyberattacks
5.1.2 Convergence of IT and OT Networks
5.2 Market Restraints
5.2.1 Complexity in Implementing the Security Systems
5.2.2 Emergence of Various Business Models in ICS Security Industry
6. MARKET SEGMENTATION
6.1 End-user Industry
6.1.2 Chemical and Petrochemical
6.1.3 Power and Utilities
6.1.5 Food and Beverage
6.1.6 Oil and Gas
6.1.7 Other End-user Industries
6.2.1 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
6.2.3 Asia Pacific
220.127.116.11 Rest of Asia Pacific
6.2.4 Latin America
6.2.5 Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles *
7.1.1 Darktrace Ltd
7.1.2 FireEye Inc.
7.1.3 IBM Corporation
7.1.4 Cisco Systems Inc.
7.1.5 Fortinet Inc.
7.1.6 Check Point Software Technologies Ltd
7.1.7 Honeywell International Inc.
7.1.8 Broadcom Inc. (Symantec Corporation)
7.1.9 AhnLab Inc.
7.1.10 McAfee LLC (TPG Capital)
7.1.11 Rockwell Automation Inc.
7.1.12 Dragos Inc.
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Industrial Control Systems Security Market Research FAQs
What is the study period of this market?
The Industrial Control Systems (ICS) Security Market is studied from 2018 - 2028.
What is the growth rate of Industrial Control Systems (ICS) Security Market?
The Industrial Control Systems (ICS) Security Market is growing at a CAGR of 13.7% over the next 5 years.
Which region has highest growth rate in Industrial Control Systems (ICS) Security Market?
Asia Pacific is growing at the highest CAGR over 2018 - 2028.
Which region has largest share in Industrial Control Systems (ICS) Security Market?
North America holds highest share in 2021.
Who are the key players in Industrial Control Systems (ICS) Security Market?
IBM Corporation, Cisco Systems Inc., Honeywell International Inc., Broadcom Inc. (Symantec Corporation), Rockwell Automation Inc. are the major companies operating in Industrial Control Systems (ICS) Security Market.
Industrial Control Systems (ICS) Security Industry Report
In-depth industry statistics and market share insights of the Industrial Control Systems (ICS) Security Market sector for 2020, 2021, and 2022. The Industrial Control Systems (ICS) Security Market research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the Industrial Control Systems (ICS) Security Market report PDF.