PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1149671
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1149671
ongoing efforts and initiatives by enterprises in the water utility sector to improve ICS security systems, as well as by governments around the world that are realizing the need to effectively plan, coordinate, and improve the water utility industry.
For instance, in January 2022, the US (EPA), Environmental Protection Agency, and the federal partners declared the Industrial Control Systems Cybersecurity Initiative - Water and Wastewater Sector Action Plan that will focus on high-impact initiatives to help safeguard water systems from cyberattacks.
Regionally, the MEA industrial control systems (ICS) security market revenue is anticipated to record over 24% CAGR between 2023 and 2032. Businesses in the Gulf are highly concerned about cyberattacks. Regional governments, individuals, and businesses are increasingly becoming targets of different cyberattacks, including ransomware and crypto jacking attacks. This is driving the regional market expansion.
For instance, to counter such attacks on IT systems and OT infrastructure, the Saudi government has implemented a set of laws such as Essential Cybersecurity Controls (ECC) developed under National Cyber Security Authority (NCA) which are mandatory cyber security controls.