Industrial Control Systems Security Market-Size By Business Function, By Component, By Deployment Model, By Organization Size, By End User, And Forecast Up to 2022 (Trending Report)

Japan, Japan, Thu, 13 Jan 2022 04:49:58 / Comserve Inc. / -- The Industrial Control Systems (ICS) security market size is expected to grow from USD 10.24 billion in 2017 to USD 13.88 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 6.3%.

With COVID-19 resulting in the economic fallout, numerous economies are working on game-changing improvements to protect their employees and clients. While focusing on the ongoing challenges, the leaders are embracing new plans in order to manage and stay afloat in this competitive environment.

The Industrial Control Systems (ICS) security market size is expected to grow from USD 10.24 billion in 2017 to USD 13.88 billion by 2022, at a Compound Annual Growth Rate (CAGR) of 6.3%. The market is driven by factors such as an exponential rise in cyber-attacks and network security threats, huge investments in smart technologies, and support from government organizations for ICS security. However, the high cost of innovation, budget constraints, and the presence of legacy ICS that are more prone to cyber threats are some of the major factors hindering the growth of the global ICS security market.

"Identity and Access Management (IAM) solution is expected to grow at the highest rate during the forecast period"
The IAM segment among the ICS security solutions is projected to grow at the highest rate during the forecast period since IAM reduces the risk of unauthorized access to critical systems. To better protect industrial sectors such as power, energy and utilities, chemical and manufacturing, and others, companies need to be able to control access to their networked resources, all of which have unique challenges. IAM also reduces the risk of malicious or untrained people gaining unauthorized access to critical infrastructure components and interfering with their operation, thereby lowering overall business risk.

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"Power sector in the ICS security market is expected to have the largest market share in 2017"
Power sector represents the highest adoption of ICS security out of all the industry verticals since cyber-attacks are on the rise, and power industries are among the most frequent targets. ICS security in electricity and power companies help them to meet the challenges of the aging grid infrastructures, monitor the power system operation, maintain the balance between power generation and production, and provide a fast and efficient way to restore the services after interruptions.

"The Middle East and Africa (MEA) is projected to grow at the highest CAGR"
MEA includes economies, such as Kingdom of Saudi Arabia (KSA), United Arab Emirates (UAE), and Egypt, which are rapidly deploying ICS security solutions. MEA is expected to grow at the highest CAGR during the forecast period. Petroleum and oil and gas verticals are the most frequently targeted verticals for threats in the UAE and Saudi Arabia due to increasing industrial automation. Considering the political instability in most of the countries in the MEA region and growing vulnerability of critical infrastructures to cyber threats, ICS security spending is expected to be substantial in the coming 5 years. Furthermore, North America is expected to have the largest market size in 2017.

In-depth interviews were conducted with Chief Executive Officers (CEOs), marketing directors, innovation and technology directors, and executives from various key organizations operating in the ICS security market.

The breakup of the profiles of the primary participants is given below:
• By Company: Tier 1 – 18%, Tier 2 – 47%, and Tier 3 – 35%
• By Designation: C level – 54%, Director level – 39%, Others – 7%
• By Region: North America – 69%, Europe – 15%, APAC – 9%, RoW – 7%

Research Coverage
The ICS security market has been segmented based on solutions, services, security types, verticals, and regions. A detailed analysis of the key industry players has been done to provide key insights into their business overview; products and services; key strategies; new product launches; partnerships, agreements, and collaborations; expansions; and competitive landscapes associated with the ICS security market.

Reasons to Buy the Report
The report will help the market leaders/new entrants in this market in the following ways:
• This report segments the ICS security market comprehensively and provides the closest approximations of the revenue numbers for the overall market and the subsegments across different regions.
• The report helps stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
• This report is expected to help stakeholders to understand the competitors better and gain more insights to enhance their position in the business. The competitive landscape section includes competitor ecosystems, new product developments, partnerships, and mergers and acquisitions.

TABLE OF CONTENT

1 INTRODUCTION 16
1.1 OBJECTIVES OF THE STUDY 16
1.2 MARKET DEFINITION 16
1.3 MARKET SCOPE 17
1.3.1 YEARS CONSIDERED FOR THE STUDY 18
1.4 CURRENCY 18
1.5 STAKEHOLDERS 18
2 RESEARCH METHODOLOGY 19
2.1 RESEARCH DATA 19
2.1.1 SECONDARY DATA 20
2.1.2 PRIMARY DATA 20
2.1.2.1 Breakdown of primary interviews 21
2.1.2.2 Key industry insights 21
2.2 MARKET SIZE ESTIMATION 23
2.3 MICROQUADRANT RESEARCH METHODOLOGY 24
2.3.1 VENDOR INCLUSION CRITERIA 24
2.4 RESEARCH ASSUMPTIONS 25
2.5 RESEARCH LIMITATIONS 25

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