Selbyville, Delaware, Nov. 08, 2022 (GLOBE NEWSWIRE) --
Industrial control systems security market is expected to cross a valuation of USD 30 billion by 2032, according to the latest research report by Global Market Insights Inc.
The industry revenue is anticipated to rise significantly over the forecast period as cyber-attacks on industries operating on critical infrastructure, such as energy, power & utility, and transportation, can result in major economic losses. Government agencies around the world are taking appropriate measures and initiatives to enhance the ICS security frameworks in their countries which have increased the demand for industrial control systems security solutions.
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Database security to gain popularity in energy, oil and gas industry
The database security segment is slated to account for more than 8.5% of industrial control systems security market revenue share by 2032. In the energy sector, particularly in the oil and gas industrial environment, this collective process of preserving & securing the database of an organization from hostile threats and attacks is essential. To fortify the data security solutions, the companies include a protective data security layer allowing them to proactively identify intrusions and other forms of attacks by adopting elements such as firewalls and network monitoring equipment.
Expanding global mining sector to boost demand for ICS security solutions
The mining industry is poised to register around 21% CAGR between 2023 and 2032. The high reliance on natural resources for economic development has made the mining sector a highly vulnerable target for cyber espionage campaigns that can lead to disruptive and destructive cyber-attacks. Increasing significance of commodities across the global markets and the increasing need of emerging nations to capitalize on their own natural resources such as mineral reserves will supplement overall ICS security market growth.
Flourishing technology landscape in North America
The North America industrial control systems security market is set to attain 14% gains through 2032, resulting from the rapid uptake of cutting-edge technologies and an increase in their application in sectors with crucial infrastructure, including energy, advanced manufacturing, mining, and transportation. Additionally, due to the region's significant presence of key ICS security firms like Cisco, McAfee, Palo Alto, and GE, the adoption of advanced ICS security products and services is projected to rise steadily.
Product innovations to define the industry landscape
The industrial control systems security market participants in competitive landscape includes Trend Micro, Inc., ABB Ltd., Belden, Inc., Schneider Electric, Check Point Software Technologies Ltd., Accenture plc (Symantec Corporation), Rockwell Automation, Cisco Systems, Inc., Inc., FireEye, Inc., General Electric Company, Honeywell International, Inc., IBM Corporation, Inc., Siemens AG, and others. These enterprises are taking efforts and investing in innovative product developments to secure substantial revenue.
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Partial Table of Contents (ToC) of the report:
Chapter 2 Executive Summary
2.1 ICS security industry 360º synopsis, 2018 - 2032
2.2 Business trends
2.2.1 Total addressable market (TAM) trends, 2023 - 2032
2.3 Region trends
2.4 Security type trends
2.5 Component trends
2.6 Application trends
Chapter 3 ICS Security Industry Insights
3.1 Introduction
3.2 Impact of COVID-19 outbreak
3.3 Russia Ukraine war impact
3.4 Features/benefits of ICS security solutions
3.5 Top 10 threats and countermeasures for ICS security
3.6 Industry ecosystem analysis
3.7 Industry evolution
3.8 Patent analysis
3.9 Key news
3.10 IT/OT
3.11 Regulatory landscape
3.12 Technology & innovation landscape
3.13 Patent analysis
3.14 Industry impact forces
3.14.1 Growth drivers
3.14.1.1 Increasing incidents of cyber-attacks on offshore industrial platforms and marine operations
3.14.1.2 Growing adoption of IIoT
3.14.1.3 Advancements in smart technologies for identity management
3.14.1.4 Government initiatives for ICS security
3.14.2 Industry Pitfalls and Challenges
3.14.2.1 Prevalence of legacy security systems
3.14.2.2 Lack of in-house technical expertise
3.14.2.3 Growing inclination towards renewable energy sources
3.15 Growth potential analysis
3.16 Porter’s analysis
3.17 PESTEL analysis
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About Global Market Insights Inc.
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.
