Industrial Control Systems (ICS) Security Market revenue to witness 20% gains to 2024: Global Market Insights, Inc.

The ICS security market report presents insights in terms of various parameters such as global trends, competitive landscape and growth drivers influencing the industry outlook and segmentation.

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Selbyville, Delaware, Aug. 09, 2019 (GLOBE NEWSWIRE) --

Industrial control systems security market is expected to witness exponential growth in the coming years as the internet continues to heavily penetrate almost all industries across the world, making industrial control systems particularly vulnerable to cyberattacks. Industrial control systems (ICS) security was ironically much simpler before the advent of the internet.

Organizations were primarily concerned with physically protecting their systems rather than over the web. But with the onslaught of internet, the threat of connectivity-enabled attacks became possible. Malware threats like ransomware, cryptominers, botnets and other more destructive operations continue to proliferate.

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Organizations are striving to dedicate resources in order to protect their ICS assets, adding stimulus to ICS security market growth. SCADA of supervisory control and data acquisition is a part of ICS that acts against intentional or accidental security threats. Proliferation of Industrial Internet of Things (IIoT) has apparently added greater complexity to the mix.

The advent of smart factories has led to incorporation of devices that help to streamline industrial control systems operations. However, manufacturers are found to not always undertake the necessary precautions to secure these products against cyber threats. Attackers are hence able to leverage compromised IIoT products to disrupt the normal operation of industrial equipment. Depending what functions the attacked systems perform, such disruption could even endanger public safety.

Lack of security has also been noted in other areas. For instance, recent reports show that many sites are exposed to the public internet and are guarded only by plain-text passwords. In some cases, even the basic protections are overlooked such as automatically updated anti-virus that help attackers to go undetected while they scout the systems before going on to sabotage physical processes such as assembly lines and blast furnaces.

Dragos, the cybersecurity company reports to have observed HEXANE, a hacking group, targeting ICSs operated by oil and gas companies located in the Middle East and telecommunications providers in the Middle East, Central Asia and Africa. The security firm believed that the group was possibly pursuing these targets to develop the basis for conducting a network-based attack. ICS security market is slated to gain increasing momentum as importance and capability of defending ICSs through ICS security setups becomes apparent.

Industrial control systems are designed to support critical infrastructure. They are deployed in industrial areas such as oil and gas, energy and utilities, pharmaceutical, chemical, food and beverage, and manufacturing. Attacks on such systems can cause major disruption. For instance, in 2015 Ukraine’s power grid was hacked causing a blackout that affected over 200,000 people.

The manufacturing industry is among the most to susceptible industries to cyberthreats. According to reports, industrial control systems (ICS) computers in manufacturing account for nearly one third of all attacks in the sector.

Kaspersky Lab conducted a study on ICS security in manufacturing in first half of 2017 and found that manufacturing firms focused on materials, equipment, and goods production were targeted the most. Vietnam, Algeria and Morocco were found to be top three countries with the most attacked ICS computers, and it was found that attacks in China are also on the rise.

Nearly 18,000 different modifications of malware were found on industrial systems, originating from around 2,500 malware families. The WannaCry and ExPetr attacks were among the most widespread campaigns. However, others like Locky and Cerber are also enabling attackers to make money.

Considering that manufacturing industry players have come to realize the importance of protecting their systems against ransomware, network security market is projected to register an accelerated growth with a CAGR of approximately 26% over 2018-2024, adding further impetus to industrial control systems security market growth.

Not only the manufacturing industry but any industrial sector including oil and gas, electric power, water etc. can significantly disrupt global economy and therefore ICS cyber threats are proliferating by the day. In 2017, Trisis attacked the safety instrumented systems of a Saudi Arabian petroleum plant. The safety instrument functioned on detection of critical conditions and worked to return processes to safe levels or shutting them down by triggering shutoff valves and pressure-release mechanisms.

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The malware deployed by the hackers was designed to render these systems dysfunctional which could have proved to be catastrophic to the people working at the petroleum plant as well as surrounding areas. The oil and gas industry have become more vigilant about network and system security, post this incidence, a trend that is expected to add significantly increase the revenue share of the market.

ICS security market players are also expected to increase investment in R&D regarding technology upgrades as it has been observed that cyber attackers are being less impeded by the lack of resources that previously kept them in check. Cyber attackers have apparently reaped the dividends of their previous successful attacks, and as targeting critical infrastructure proves to be financially beneficial, more malicious interest is being taken in hacking methods that is adding impetus to cyberattack growth. Thus, there is no alternative to a robust ICS security system, a factor that is fuelling growth for industrial control systems (ICS) security market.

What does this report offer?

This ICS security market report covers a detailed analysis of every segment of the market including security type, component, application and region. The report presents insights on this industry in terms of various parameters such as global trends, competitive landscape and growth drivers influencing the industry outlook and market segmentation of the industry.

The report claims that the security type segment of industrial control systems security market is subdivided into network security, application security, endpoint security and database security. The important indicators regarding the security type segment include revenue forecast anticipated to be garnered by each subsegment during the forecast duration, market share of each subsegment, and most prominent trends to be exhibited by the subsegments.

Browse key industry insights spread across 300 pages with 304 market data tables & 31 figures & charts from the report, “Industrial Control Systems (ICS) Security Market Size By Security Type, Component (Solution, Service), Application, Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast 2024” in detail along with the table of contents:

A detailed analysis of the component segment of ICS security market is included in the research report. The application segment is further divided into solution and service subsegments.

By Component

  • Solution
  • Firewall
  • SCADA encryption
  • Antivirus/anti-malware
  • Intrusion detection & prevention
  • Identity & Access Management (IAM)
  • Distributed Denial of Service (DDoS) solution
  • Data Loss Prevention (DLP)
  • Virtualization security
  • Security Information & Event Management (SIEM)
  • Unified Threat Management (UTM)
  • Service
  • Managed service
  • Integration & consulting
  • Audit & reporting
  • Risk management

In terms of the application, the market is divided into power and energy, critical manufacturing, mining, water utility, transportation, chemical and others. The application segmentation includes a detailed collection of industry scope, prioritized market definitions and leading driving factors.

The ICS security industry report also discusses in detail the market share anticipated to be held by each subsegment, currently and by the end of forecast timeframe. Various trends characterizing the performance of the application landscape have been discussed in the study.

Regionally, ICS security market report is segmented into North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Further discussion is presented on each region, based on countrywide market contribution, availability of industry players, consumer base, and various other aspects.

The industrial control systems security market report basically covers an assortment of important parameters that would assist stakeholders while undertaking the process of decision-making. The research report also encompasses vital information such as SWOT analysis, industry drivers etc.

The document also provides an executive summary, detailed analysis of the industry ecosystem, a summary of industry insights, global trends and market segmentation. Deliverables pertaining to regulatory landscape of the industry and competitive spectrum are also elaborated in the study along with business tactics instilled by the industry players.

Table of Contents (ToC) of the report:

Chapter 3.   Industrial Control Systems (ICS) Security Industry Insights

3.1.  Introduction

3.2.  Features/benefits of ICS security solutions

3.3.  Industry segmentation

3.4.  Industry landscape

3.5.  Industry ecosystem analysis

3.6.  Top 10 threats and countermeasures for ICS security

3.6.1. Social engineering and phishing

3.6.2. Malware infection through internet and intranet

3.6.3. Human errors and sabotage

3.6.4. Infiltration of malware through removable media and external hardware

3.6.5. Technical malfunctions and unavoidable accidents

3.6.6. Control components connected to the internet

3.6.7. Compromising of cloud and extranet components

3.6.8. Intrusion through remote access

3.6.9. Compromising of smartphones in the production environment

3.6.10. DDoS attacks

3.7. IT/OT

3.7.1. OT/IT Convergence

3.8. Technology & innovation landscape

3.8.1. Security-as-Service

3.8.2. AI and machine learning

3.9. Regulatory landscape The ISA/IEC 62443 standard NIST SP 800-53 Critical Infrastructure Protection Mandates (NERC) The Security of Network and Information Services Directive (NIS Directive) (EU) IT Security ACT (Germany) Cybersecurity Law (China)

3.10. Industry impact forces

3.10.1. Growth drivers Increasing incidents of cyber-attacks on offshore industrial platforms and marine operations Growing adoption of IIoT Advancements in smart technologies for identity management Government initiatives for ICS security

3.10.2. Industry Pitfalls and Challenges Prevalence of legacy security systems Lack of in-house technical expertise Growing inclination towards renewable energy sources

3.11. Porter’s Analysis

3.12. PESTEL analysis

3.13. Growth potential analysis

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About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.


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