Industrial Control Systems (ICS) Security Market: Current Analysis and Forecast (2021-2027)

Report Description

The global ICS security market is expected to register a CAGR of around 7% over the period of 2021-2027. The market is uplifting on account of the growth in digital technologies and industrial control systems and the rising demand for secure ICS along with the increasing cyber threats to critical infrastructure and growing adoption of cutting-edge technologies. Moreover, the growing trend of using interconnectivity in ICS practices followed by the increasing investment in large security frameworks will positively stimulate the industry landscape. ICS security includes maintaining and protecting the industrial control system and the required software and hardware used in the system. Industrial control systems are used in industries such as utilities and manufacturing to automate or remotely control product production, handling, or distribution. Hence, ICS security is crucial for better efficiency and continuous development.

Cisco Systems Inc., ABB Ltd., Lockheed Martin Corporation, BAE Systems PLC, Raytheon Technologies Corporation, FireEye Inc., Darktrace Holdings Limited, Airbus Group SE, Check Point Software Technologies Ltd., and Sophos Ltd. are some of the key players in the market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with hi-tech and innovative products/technologies.

Insights Presented in the Report

“Amongst components, the solutions segment held a prominent share in the market in 2020”

On the basis of components, the market is segmented into solutions and services. Among these, the solutions segment held a significant share of the global ICS security market in 2020 and is expected to witness substantial growth during the forecast period owing to the rising demand for antivirus software and solutions for protecting business computers from cyberattacks. Antivirus protection is software designed to detect, block, and remove malware. This may include protection against viruses, spyware, phishing scams, and other threats that could be used to infiltrate digital systems and steal, misuse, or damage information.

“Amongst security type, endpoint security held a prominent share in the market in 2020”

On the basis of security type, the market is divided into network security, endpoint security, application security, and database security. The endpoint security segment captured a significant share of the market in 2020. This is because of the increasing adoption of endpoint security due to benefits, such as unified security and management, safeguarding against key threat vectors, identifying and closing security gaps, and maintaining control. In addition, the growing need to identify and prevent cyber threats in the event of security breaches or endpoint attacks is expected to drive the growth of this segment.

“North America to witness significant growth during the forecast period”

North America held a prominent share of the global ICS security market in 2020 and is expected to showcase a prominent growth rate during the forecast period. This can be attributed to the presence of leading ICS security providers and the integration of cloud and IoT with ICS security solutions. In addition, a surge in investments by key players as well as the government for developing advanced ICS security solutions fuels the growth of the market. In countries such as US and Canada, there are numerous government initiatives to encourage the adoption of ICS security to maximize productivity.

Reasons to buy this report:

• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolio, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:

The global ICS security market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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Research Methodology

Research Methodology for the Industrial Control Systems (ICS) Security Market Analysis (2021-2027)

Analyzing the historical market, estimation of the current market, and forecasting the future market of the global ICS security market were the three major steps undertaken to create and analyze the adoption of ICS security in major regions globally. Exhaustive secondary research was conducted to collect the historical market numbers and estimate the current market size. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were also conducted, with industry experts across the value chain of the global ICS security market. Post assumption and validation of market numbers through primary interviews, we employed a top-down/bottom-up approach to forecasting the complete market size. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the market size of segments and sub-segments of the industry pertains to. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the ICS security market through company internal sources such as annual report & financial statements, performance presentations, press releases, etc., and external sources including journals, news & articles, government publications, competitor publications, sector reports, third-party database, and other credible publications.

Step 2: Market Segmentation:

After obtaining the historical market size of the ICS security market, we conducted a detailed secondary analysis to gather historical market insights and share for different segments & sub-segments for major regions. Major segments included in the report as the component, service type, and industry. Further country-level analyses were conducted to evaluate the overall adoption of testing models in that region.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, we conducted a detailed factor analysis to estimate the current market size of the ICS security market. Further, we conducted factor analysis using dependent and independent variables such as growth in digital technologies and industrial control systems and Increasing cyber threats to critical infrastructure. A thorough analysis was conducted for demand and supply-side scenarios considering top partnerships, mergers and acquisitions, business expansion, and product launches in the ICS security market sector across the globe.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at the current market size, key players in the global ICS security market, and market shares of the segments. All the required percentage shares split, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weights were assigned to different factors including drivers & trends, restraints, and opportunities available for the stakeholders. After analyzing these factors, relevant forecasting techniques i.e., the top-down/bottom-up approach were applied to arrive at the market forecast for 2027 for different segments and sub-segments across the major markets globally. The research methodology adopted to estimate the market size encompasses:

• The industry’s market size, in terms of revenue (USD) and the adoption rate of the ICS security market across the major markets domestically
• All percentage shares, splits, and breakdowns of market segments and sub-segments
• Key players in the global ICS security market in terms of solutions offered. Also, the growth strategies adopted by these players to compete in the fast-growing market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, Regional Head, Country Head, etc.) across major regions. Primary research findings were then summarized, and statistical analysis was performed to prove the stated hypothesis. Inputs from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants in Different Regions

 Market Engineering

Data triangulation technique was employed to complete the overall market estimation and to arrive at precise statistical numbers for each segment and sub-segment of the global ICS security market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of the solution, service, d industry in the global ICS security market.

The main objective of the Global ICS Security Market Study

The current & future market trends of the global ICS security market were pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends determined the overall attractiveness of the market at a regional level, providing a platform for the industrial participant to exploit the untapped market to benefit as a first-mover advantage. Other quantitative goals of the studies include:

• Analyze the current and forecast market size of the ICS security market in terms of Value (USD). Also, analyze the current and forecast market size of different segments and sub-segments
• Segments in the study include areas of the component, service type, and industry
• Define and analysis of the regulatory framework for the ICS security market industry
• Analyze the value chain involved with the presence of various intermediaries, along with analyzing customer and competitor behaviors of the industry.
• Analyze the current and forecast market size of the ICS security market for the major region.
• Major countries of regions studied in the report include Asia Pacific, Europe, North America, and Rest of the World.
• Company profiles of the ICS security market and the growth strategies adopted by the market players to sustain in the fast-growing market
• Deep dive regional level analysis of the industry

You can also purchase parts of this report. Do you want to check out a section wise
price list?

Get in touch with team