Global Industrial Control Systems Security Market 2021-2026: Convergence of IT and OT Systems to Fuel ICS Security Growth – ResearchAndMarkets.com

DUBLIN – (COMMERCIAL THREAD)–The Industrial Control Systems (ICS) Security Market by Component (Solution and Services), Solution, Security Type (Network Security, Endpoint Security, Application Security, Database Security), Vertical and region – Global forecasts to 2026 “” the report was added to ResearchAndMarkets.com offer.

The global industrial control security market size is expected to grow from $ 17.1 billion in 2021 to $ 23.5 billion by 2026, at a compound annual growth rate (CAGR) of 6.6% from 2021 to 2026.

Major factors fueling the industrial control security market include growing demand for sophisticated security solutions, changing regulatory landscape and increasing volumes of business data across all industries.

Services are expected to grow at a higher CAGR during the forecast period.

The global ICS security market by service has been separated into consulting and integration, support and maintenance, training and development, incident response services, and managed security services. Many industries and business models are at risk of disruption due to rapid technological changes, enabling new business models, replacing old distribution channels, and changing the way people and businesses interact with each other. These changes are driven by megatrends that have far-reaching, interrelated consequences for businesses, economies, industries, societies and individuals. The above-mentioned factors combined are causing massive transformational changes. Therefore, mid-sized businesses are expected to face the greatest challenge, especially in the area of ​​compliance related services.

Some of the renowned players offering industrial control security services include Cisco, ABB, Lockheed Martin, Fortinet, Honeywell, Palo Alto Networks, Bae Systems, Raytheon, and Fireeye.

In the regional segment, North America will have higher market share during the forecast period.

In terms of revenue, North America is expected to be the largest contributor to the market due to the early adoption of ICS security solutions and services in the region. As a result, the region has the largest number of vendors offering ICS security solutions and services. In addition, federal government guidelines in the United States and Canada require organizations in this region to adopt ICS security solutions and services as part of their business strategies. APAC is expected to grow at the highest CAGR during the forecast period, due to the rapid adoption of cloud and virtualized environments by end users.

Premium previews

  • Growing threats of cyber attacks and presence of strict regulations to drive demand for ICS security solutions

  • Energy and vertical utilities and North America will be the highest markets in their respective segments in 2021

  • ICS security solutions to dominate the market in 2021

  • Endpoint Security will be the most sought after type of security during the forecast period

  • Asia-Pacific will be the best market to invest in during the forecast period

Market Snapshot and Industry Trends

Conductors

  • Accretion in digital technologies and industrial systems

  • Strict government regulations related to CIP to drive adoption of ICS security solutions

  • Convergence of IT and OT systems to fuel the growth of ICS security

Constraints

  • High procurement costs for ICS security solutions

  • New challenges in maintaining and upgrading ICS security solutions

Opportunities

  • Increased demand for professional and managed security services

  • R&D investments by governments and companies to develop robust ICS security solutions for the protection of critical infrastructure

Challenges

  • Poor collaboration between the public and private sectors

  • Lack of security analysts trained to analyze ICS systems

  • Lack of awareness of ICS security techniques

Company Profiles

  • ABB

  • Airbus

  • Applied security

  • BAE systems

  • Belden

  • Checkpoint

  • Cisco

  • Clarity

  • Cyberarch

  • Cyberbit

  • Dark trace

  • Dragos

  • eye of fire

  • Foresight

  • Fortinet

  • Honeywell

  • Kaspersky laboratory

  • Lockheed Martin

  • Nozomi Networks

  • Palo Alto Networks

  • Positive technologies

  • Radiflow

  • Raytheon

  • Sophos

  • Verve Industrial Protection

For more information on this report, visit https://www.researchandmarkets.com/r/tjb3a6

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