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ICS Security Market: High-growth Regions to Expand Geographic Footprint 2020-2026

Author : Ronak Bora | Published Date : 2020-09-02 

Industrial control systems (ICS) security market, tagged as one of the most revolutionary verticals of the smart & sustainable technologies space, has garnered massive remuneration in the recent years, given the increasing demand for network connectivity to support critical infrastructure. Industrial automation and digitization trends have practically computerized most of the machinery and engineering components that have undeniably changed the way operations are now performed but have however increased attack surface areas. Reports in fact claim that the industrial sector witnessed a significant increase in the number of vulnerabilities in ICS between the years 2015 and 2017. It has been estimated that the number of vulnerabilities reported by major companies offering ICS solutions were 115 in 2016 and the number rose to over 197 in 2017.

Industrial Control Systems (ICS) Security Market, known as one of the most revolutionary segments of the smart and sustainable technologies space, has witnessed massive traction over the past several years, given the growing demand for connectivity to provide support to the complex infrastructure.

Industrial automation and digitization trends have computerized most of the manually- driven, machinery works that have undeniably changed the manner in which operations are now performed. With growing computerization, there is a consequent rise in the number of cyberattacks which is positively influencing business growth.

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The Industrial Control Systems (ICS) Security Market segment is likely to grow at an exponential rate during the period of study due to the growing need to secure and protect networks and devices such as desktop PCs, laptops, and mobile devices from cyberthreats. Endpoint security offers an encrypted framework with an aim to protect the network infrastructure from potential threats of cyberattacks and data breaches on network infrastructure that may lead to network malfunction.

Endpoint security also assists in securing the weak connections as well as supporting the network structure. Major companies in the industry are constantly aiming at developing advanced cloud-based ICS security networks. These include Schneider Electric, Rockwell Automation, Honeywell International Inc, Trend Micro Inc., Kaspersky Lab, and several others.

Top Key Players In ICS Security Market are ABB Ltd., BAE Systems, Bayshore Networks, Inc., Belden, Inc., Check Point Software Technologies Ltd., Cisco Systems, Inc., Cyberbit, Dragos, Inc., FireEye, Inc., Fortinet, Inc., General Electric Company, Honeywell International, Inc., IBM Corporation, Kaspersky Labs, McAfee, LLC, Nozomi Networks, Inc., OT Claroty Ltd., Rolloos Industries B.V., Raytheon Company, Rockwell Automation, Inc., Schneider Electric, SecurityMatters (Forescout Technologies Inc.), Siemens AG, Accenture plc (Symantec Corporation), and Trend Micro, Inc.

American software company- Kepware launched its latest version 6.9 of the KEPServerEX in June 2020. The latest version demonstrates its commitment to ICS Security and offering its customers the best tools and services that provide support to defense-in-depth programs. Enlisted below are some of the major factors likely to impact Industrial Control Systems (ICS) Security Market during the forecasted timeframe.

North America accounts for the maximum Industrial Control Systems (ICS) Security Market share due to the increasing investments made towards the enhancement by private entities and the rising-cases of cyberattacks in the oil and gas sector, especially in the U.S. Additionally, the governments are also investing in projects to encourage advancements in security solutions for industrial infrastructures.

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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