Industrial Control Systems Security Market to Witness Massive Demand from the Booming Transportation Sector Over 2018 – 2024

Industrial Control Systems Security Market in transportation is expected to exhibit a robust growth between 2018 and 2024 with a CAGR of around 26% due to the increasing awareness related to ICS security for protecting critical transportation networks such as highway, surface transportation, aviation, maritime, and pipeline. Maritime transport component, such as ports, vessels, and waterways, plays a critical role in facilitating large-scale trade operations. Hence securing these systems is highly essential to ensure the smooth functioning of vessel and port operations. The rail freight transportation sector is also an emerging market for ICS security as regulatory bodies are focusing on determining cyber risks associated with rail transport systems to identify ICS cyber evaluation metrics.

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The Industrial Control Systems Security Market is witnessing an accelerated growth and is projected to register a robust growth over the forecast timeline due to the technological advancements in Industrial IoT (IIoT) leading to an increased deployment of connected components in industrial IT environments. Between 2015 and 2017, there was a significant increase in the number of vulnerabilities detected in ICS components in industrial sectors. Majority of the vulnerabilities were detected in SCADA/HMI/DCS devices amounting to nearly 30%, followed by those in network equipment which constituted nearly 28% of the overall vulnerabilities.

The Industrial Control Systems Security Market is projected to register a CAGR of over 20% between 2018 and 2024. The growth is attributed to the increasing incidents of cyber-attacks on critical infrastructure industries and consistent increase in the number of vulnerabilities detected in ICS components globally with government policies to ensure a robust IT security framework for National Critical Infrastructure (NCI) protection. The increasing need to secure industrial IT infrastructure from internal threats will contribute to the growing awareness related to ICS security over the forecast timeline. Using ICS security, companies can minimize the potential exposure to threats arising from internal resources by preventing access violations from unauthorized users.

Identity & Access Management (IAM) market is expected to witness a robust growth at a CAGR of around 25% over the forecast timeline. IAM solutions block unauthorized user access to critical network components. It is estimated that the service segment in the Industrial Control Systems Security Market will witness the fastest growth at about 35% CAGR during the forecast timeline due to the growing demand for integration and managed services from enterprises for ensuring optimal protection of industrial control environment.

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North America dominated the Industrial Control Systems Security Market with around 50% share in 2017. The availability of stringent standards, regulatory guidelines, and government initiatives in the U.S. is contributing majorly to the market growth. The Asia Pacific Industrial Control Systems Security Market is forecast to show an accelerated growth over the period due to the presence of a large number of SMEs focusing on offering solutions to the leading market players. Furthermore, the rise of urbanization and industrialization in countries including India, Japan, and China is anticipated to assist in the growing demand for ICS security solutions in the region.

Some of the leading market players include IBM, Cisco, ABB, General Electric, McAfee, Cyberbit, Symantec, Belden, Fortinet, Dragos, Schneider Electric, Raytheon, SecurityMatters, Trend Micro, Honeywell, Nozomi Networks, Claroty, BAE Systems, Kaspersky, FireEye, and Bayshore Networks. The Industrial Control Systems Security Market leaders focus on new product developments and strategic partnerships with cybersecurity providers to deliver better security services.

Major Key Points from Table of Content:

Chapter 7.   Industrial Control Systems Security Market, By Application

7.1.  Key trends, by application

7.2.  Power and energy

7.2.1. Energy market estimates and forecast, by region, 2013-2024

7.3.  Critical manufacturing

7.3.1. Critical manufacturing market estimates and forecast, by region, 2013-2024

7.4.  Mining

7.4.1. Mining market estimates and forecast, by region, 2013-2024

7.5.  Water utility

7.5.1. Water utility market estimates and forecast, by region, 2013-2024

7.6.  Transportation

7.6.1. Transportation market estimates and forecast, by region, 2013-2024

7.7.  Chemical

7.7.1. Chemical market estimates and forecast, by region, 2013-2024

7.8.  Other applications

7.8.1. Other applications market estimates and forecast, by region, 2013-2024

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