Global Industrial Control Systems (ICS) Security Market Analysis 2024 – Estimated Market Size And Key Drivers

The Industrial Control Systems (ICS) Security by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Industrial Control Systems (ICS) Security, The industrial control systems (ics) security market size has grown strongly in recent years. It will grow from $16.49 billion in 2023 to $17.8 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%.  The  growth in the historic period can be attributed to increased interconnectivity, rise in cyber attacks, regulatory mandates, awareness of industrial cyber risks, technological advancements in attacks.

The industrial control systems (ics) security market size is expected to see strong growth in the next few years. It will grow to $24.88 billion in 2028 at a compound annual growth rate (CAGR) of 8.7%.  The growth in the forecast period can be attributed to increased connectivity and iiot expansion, rise in cyber threat sophistication, regulatory compliance evolution, integration of ai and machine learning, focus on supply chain resilience. Major trends in the forecast period include rise in cyber threats, integration of it/ot networks, regulatory compliance requirements, adoption of remote access solutions, focus on supply chain security..

The rising number of cyberattacks on critical infrastructure is expected to propel the growth of the industrial control systems (ICS) security market going forward. Critical infrastructure refers to the systems and assets that are essential for the functioning of a society and economy, such as power and water systems, communications networks, transportation systems, and financial and government institutions. Due to the importance of these infrastructures, it is essential for organizations that operate critical infrastructure to implement robust cybersecurity measures to protect their systems and assets from cyber threats. This will lead industries to adopt industrial control systems (ICS) security. For instance, according to a DDoS threat intelligence report published by NetScout Systems, Inc., a US-based cyber security provider, in 2022, DDoS cyber-attack reported a total count of 6,019,888 across the globe with a rise in TCP (transmission control protocol) attacks, including a 21% increase in TCP SYN/ACK and a 20% increase in TCP RST (Reset) attacks, compared to 2021. Further, in the first half of 2022, the Asia-Pacific region recorded about 1.3 million DDoS attacks targeting major organizations. Therefore, the rising number of cyberattacks on critical infrastructure is driving the industrial control systems (ICS) security market.

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The industrial control systems (ics) security market covered in this report is segmented –
1) By Component: Solution, Service
2) By Security Type: Network Security, Endpoint Security, Application Security, Database Security
3) By System Type: SCADA, DCS, PLC, Other Types
4) By Applications: Power And Energy, Critical Manufacturing, Mining, Water Utility, Transportation, Chemical, Other Applications

Innovative solutions have emerged as the major trend gaining popularity in the industrial control systems (ICS) security market. Major companies operating in the industrial control systems security market are introducing innovative solutions to strengthen their position in the market. For instance, in September 2022, GuidePoint Security, a US-based cybersecurity solutions firm launched Industrial Control Systems (ICS) security services. The newly launched solutions and service offerings are tailored to provide a comprehensive assessment of an organization’s industrial control system (ICS) security posture. These services include a security program review, a security architecture review, and ICS penetration testing. Together, these evaluations aim to give organizations a holistic understanding of their overall ICS security and also help organizations bridge the IT (information technology) and OT (operational technology) security gap.

The industrial control systems (ics) security market report table of contents includes:
1. Executive Summary

2. Industrial Control Systems (ICS) Security Market Characteristics
3. Industrial Control Systems (ICS) Security Market Trends And Strategies
4. Industrial Control Systems (ICS) Security Market – Macro Economic Scenario
5. Global Industrial Control Systems (ICS) Security Market Size and Growth
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6. Global Industrial Control Systems (ICS) Security Market Competitive Benchmarking
7. Global Industrial Control Systems (ICS) Security Market Competitive Dashboard
8. Key Mergers And Acquisitions In The Industrial Control Systems (ICS) Security Market
9. Industrial Control Systems (ICS) Security Market Future Outlook and Potential Analysis
10. Appendix

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