Industrial Control Systems (ICS) Security Market Size, Share & Growth Worth $30.56 Billion by 2030 at CAGR of 6.4% by Polaris Market Research.
The global industrial control systems (ICS) security market size is expected to reach USD 30.56 billion by 2030 according to a new study by Polaris Market Research.
The accumulation of digital technologies and manufacturing control structures, coupled with the increasing trend for the utilization of the interconnectivity in these practices, is accelerating the market’s growth. Besides, the implementation of the mandatory regulations by the government for the CIP and services, as well as the association of the IT and OT structures, is further propelling the industry demand worldwide.
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Based on vertical, the transportation system segment is dominating the global industry with the highest revenue shares and is expected to grow at the highest CAGR during the projected period. Increasing adoption of safety for critical transportation networks like highway, maritime, surface transportation, pipeline, and aviation is significantly augmenting the industry growth. Thereby, securing these transportation methods is essential for leading the smooth functioning of vessel and port operations, which surge the demand for the safety industry.
The growing demand for professional and managed safety services is a major impelling factor for the industry’s growth. SMEs need some basic cyber-infrastructures for proper safety operations, while large enterprises are demanding several experienced professionals and managed safety services. There is a lack of awareness of safety policies among the employees for obtaining the sensitive properties of the business by the hackers and cybercriminals.
Though, several setups are deployed to manage cybersecurity practices. But, cybersecurity training, incidents, handling issues, and procedures are considered a trouble for the employees when they are not self-aware of safety policies and procedures. Thus, the growing demand for professional and managed safety services to deal with intricate vulnerabilities in this ecosystem will create lucrative opportunities for industry growth over the foreseen period.
Industry participants such as Airbus, ABB, Applied Security, Belden, Check Point, Claroty, BAE, Raytheon, Cyberark, Nozomi Networks, Cisco, Cyberbit, Dragos, Fireeye, Forescout, Kaspersky Labs, Fortinet, DarkTrace, Honeywell, Lockheed Martin, Positive technologies, Radiflow, Sophos, Palo Alto, and Verve industrial protection are some of the key players operating in the global industry.
The rising number of strategic actions such as mergers & acquisitions, product launches, and others by the prominent industry players also supports global market development. For instance, in July 2021, ABB announced the acquisition of the ASTI Mobile Robotics Group. The acquisition will strengthen ABB’s automation offerings.
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Polaris Market Research has segmented the industrial control systems (ICS) security market report on the basis of component, solution, security type, vertical, and region:
Industrial Control Systems (ICS) Security, Component Outlook (Revenue – USD Billion, 2018 – 2030)
Industrial Control Systems (ICS) Security, Solution Outlook (Revenue – USD Billion, 2018 – 2030)
- DDoS Mitigation
- Security and vulnerability management
- Security configuration management
Industrial Control Systems (ICS) Security, Security Type Outlook (Revenue – USD Billion, 2018 – 2030)
Industrial Control Systems (ICS) Security, Vertical Outlook (Revenue – USD Billion, 2018 – 2030)
- Energy and Utility
- Transportation Systems
- Other verticals
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