Magadh Chronicle

Industrial Control Systems (ICS) Security Market Analysis by Size, Rising Demand, Business Growth Factors and Revenue Strategies 2027

 Breaking News
  • No posts were found

Industrial Control Systems (ICS) Security Market Analysis by Size, Rising Demand, Business Growth Factors and Revenue Strategies 2027

November 17
14:29 2022
Industrial Control Systems (ICS) Security Market Analysis by Size, Rising Demand, Business Growth Factors and Revenue Strategies 2027
Cisco (US), ABB (Switzerland), Lockheed Martin (US), Fortinet (US), Honeywell (US), Palo Alto Networks (US), BAE Systems (UK), Raytheon (US), Trellix (US), Darktrace (UK), Check Point (US and Israel), Kaspersky Labs (Russia), Airbus (France), Belden (US), Sophos (US), CyberArk (US), Claroty (US), Dragos (US), Nozomi Network (US), Cyberbit (Israel), Forescout (US).
Industrial Control Systems (ICS) Security Market by Component (Solutions and Services), Solution, Service, Security Type (Network Security, Endpoint Security, Application Security, and Database Security), Vertical and Region – Global Forecast to 2027

MarketsandMarkets forecasts that the global ICS Security Market is projected to grow from USD 16.7 billion in 2022 to USD 23.7 billion by 2027, at a Compound Annual Growth Rate (CAGR) of 7.2% from 2022 to 2027. Stringent government regulations related to CIP to boost the adoption of ICS security solutions are driving market growth.

Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=1273 

What is ICS security?

According to Forcepoint, industrial control systems can consist of a complex network of interactive control systems or a small number of controllers. These systems receive information from remote sensors that measure and monitor process variables. From control valves to pressure gauges, an ICS sends commands and receives alerts from many different components. ICS security is a security framework that protects these systems against accidental or intentional breaches and risks.

ICS security solutions consist of a comprehensive array of technologies, such as Distributed Denial of Service (DDoS), Intrusion Detection and Prevention System (IDPS), antimalware/antivirus, firewall, virtualization security, Security Information and Event Management (SIEM), SCADA encryption, Unified Threat Management (UTM), Data Loss Prevention (DLP), and Identity and Access Management (IAM).

By security type, network security to grow at the highest CAGR during the forecast period

Network security is the technique of securing networks from advanced threats. Network security comprises ICS security services that provide security to various networking assets and resources used for managing critical infrastructure. It consists of multiple components, such as security software and appliances, which work together to provide network security. Sophisticated threats, such as sophisticated malware and other attacks, such as Advanced Persistent Threats (APTs), negatively impact the ICS ecosystem by evading network defenses and targeting vulnerabilities in the computing system. Organizations adopt ICS security services to prevent unauthorized access and the misuse of networking resources.

By Region, North America is estimated to account for the largest market size during the forecast period

North America has been at the forefront of the adoption of ICS security solutions in lieu of the rising number of cyberattacks on critical infrastructure. ICS security solutions are being widely used in a variety of industries, particularly manufacturing, chemicals, energy, and utilities. This region has also been extremely responsive toward the latest technological advancements, such as the integration of cloud and IoT with ICS security solutions, to establish a holistic secure access mechanism and enforce a security governance framework. With the growing awareness of ICS security among small and medium-sized businesses and the widespread use of data-driven methods in manufacturing operations, the adoption of emerging technologies opens the door to the substantial market share held by the North American region. Public-Private Partnerships (PPP) and international collaborations have led to effective ICS security and resilience in the region.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=1273

Competitive overview:

The ICS security market is led by some of the globally established players, such as Cisco (US), ABB (Switzerland), Lockheed Martin (US), Fortinet (US), Honeywell (US), Palo Alto Networks (US), BAE Systems (UK), Raytheon (US), Trellix (US), Darktrace (UK), Check Point (US and Israel), Kaspersky Labs (Russia), Airbus (France), Belden (US), Sophos (US), CyberArk (US), Claroty (US), Dragos (US), Nozomi Network (US), Cyberbit (Israel), Forescout (US), Radiflow (Israel), Verve Industrial Protection (US), Applied Security (Netherland), and Positive Technology (Russia). These players have adopted various growth strategies, such as partnerships, agreements, collaborations, acquisitions, and product developments, to increase their market presence.

Cisco designs, manufactures, verifies, and sells integrated circuit products and services. The company’s product offerings are switching, Next-Generation Network (NGN) Routing, service provider videos, collaboration endpoints, data center analytics, wireless, cybersecurity, and other products. The company designs, manufactures, and offers products for networking protocols. It also provides various video collaboration tools that integrate voice, video, audio data, and mobile applications. The company also offers services, such as fixed and mobile network services, across electronic equipment. It offers telepresence technology-based products, such as telepresence conductors, servers, immersive systems, collaboration room endpoints, and collaboration desk endpoints.

Cisco helps improve operations by monitoring and optimizing ICSs. It helps reduce risk by improving incident prevention, worker safety, IIoT security, and regulatory compliance. The company provides end-to-end pipeline management, process control, and security and helps make gas stations efficient and secure with payment video monitors, real-time data, and IoT at pumps and stores. Products, such as Cisco Kinetic, help improve production, reduce costs, and increase worker safety. It helps connect securely anywhere in the network, from the edge to the cloud, to drive better business outcomes. Cisco Internet of Everything (IoE) has guarded almost 100 stations that are at high risk.

Headquartered in Zurich, Switzerland, ABB was formed in 1988 due to the merger between two conglomerates—ASEA (Sweden) and Brown, Boveri & Cie (Switzerland). ASEA was founded in 1883, and Brown, Boveri & Cie was established in 1891. Systems and solutions are provided by ABB to reduce industrial complexities and increase the efficiency of processes. The company operates through three business segments: Electrification Products, Robotics and Motion, and Industrial Automation. The Robotics & Motion and Industrial Automation segment of company provides products, solutions, and related services that increase industrial productivity and energy efficiency. ABB has developed a collaborative industrial robot called YuMi, combining IoT, AI, algorithms, and robotics. ABB has a strong product offerings of ICS security solutions and company also focuses on its organic and inorganic strategies to keep innovating these offerings. ABB has been focusing on partnerships and coolaborations to enhance its ICS security offerings. Company have partered with security giants like IBM, Nozomi Networks to launch a new OT Security Event Monitoring Service.

Media Contact
Company Name: MarketsandMarkets™ Research Private Ltd.
Contact Person: Mr. Aashish Mehra
Email: Send Email
Phone: 18886006441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL 60062
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/industrial-control-systems-security-ics-market-1273.html