PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1326591
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1326591
Global Industrial Control Systems Security Market is valued at approximately USD XX billion in 2022 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030. Industrial Control Systems (ICS) security refers to the protection of the systems and networks used to control and monitor critical infrastructure in industries such as energy, manufacturing, water treatment, transportation, and more. These systems are responsible for managing and controlling industrial processes, and their security is crucial to prevent unauthorized access, disruptions, or malicious activities that have severe consequences for public safety, the environment, and the economy. Growing investment in digital technologies and industrial control structures to fulfill the growing demand for industrial control structures safety goods and services is propelling the growth of the industrial control systems (ICS) security market. Moreover, the stringent government rules and regulations related to the Continuous Improvement Programme (CIP) to increase the adoption of ICS security solutions in influencing growth for IoT solutions, and the rising initiatives for the development of smart cities and vital infrastructure, which have also boosted the need for security solutions for ICS are some factors contributing to the growth of the market.
Additionally, the growing number of cyber-attacks have led to the demand for industrial control systems security market on a global forefront. According to Cybertalk, In the previous period, ransomware struck 90% of organizations. Fifty percent had to deal with ransomware at least twice, and twenty percent had to deal with it six to ten times. More than 236 million ransomware attacks happened globally in the first half of 2022 alone, and ransomware damages are estimated to reach USD 20 billion by the end of the year. The increased adoption of Industry 4.0 and IoT are driving the growth of the industrial sensors segment. In the estimated period, predictive maintenance is likely to provide attractive prospects to participants in the industrial sensors industry. Capturing sensor data, allowing data connections, and making predictions are all part of it. Because sensors are an essential component of predictive maintenance solutions, demand for industrial sensors is likely to skyrocket in the coming years. However, elements contributing to a restraint of this market includes growing complexity due to ageing ICS hardware or software in many organizations. Because of their relevance in plant operation, most organizations continue to employ legacy ICS. Because ICS are getting older, there are more possibilities for hacks and the complexity grows. Another barrier to the adoption of ICS security services in organizations is the expense incurred in installing a security system or platform.
The key regions considered for the Global Industrial Control Systems Security Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market with largest market share owing to factors such as responsiveness to the most recent technological advancements, such as integrating cloud and IoT security solutions with ICS security solutions to establish a comprehensive secure access mechanism and enforce a security governance framework. Asia Pacific is expected to grow with the fastest CAGR during the forecast period because of the increased investment for the deployment of safety measures is a result of the growing safety concerns. The fastest-growing sectors and technical advancements are being seen in the leading emerging markets, including South Korea, India, Japan, China, Australia, Hong Kong, and others. Additionally, efficient government laws are fostering market expansion. The demand for ICS security is also fueled by the expanding need for industry-specific cybersecurity, an increase in Public-Private Partnerships (PPPs), and increased R&D throughout the region.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
List of tables and figures are dummy in nature, final lists may vary in the final deliverable
List of tables and figures are dummy in nature, final lists may vary in the final deliverable