The global ICS security market is projected to grow from USD 16.7 Billion in 2022 to USD 23.7 Billion by 2027, at a Compound Annual Growth Rate (CAGR) of 7.2% from 2022 to 2027

One of the factors driving the market growth is accretion in digital technologies and industrial systems. • By solution, firewall segment to account for higher market share during forecast period.

New York, Dec. 02, 2022 (GLOBE NEWSWIRE) -- announces the release of the report "Industrial Control Systems Security Market by Component, Solution, Service, Security Type, Vertical and Region - Global Forecast to 2027" -

Tofino Xenon Security Appliance was one of the first ICS-specific firewalls on the market.It was a small form factor firewall with added features for deep packet inspection and configuration controls specific to ICS protocols.

Firewall offers security to the network system that controls and monitors the incoming and outgoing network traffic based on predetermined security protocols.It also acts as a barrier between the enterprises’ internal network and the untrusted external network, such as the internet and the Wide Area Network (WAN).

Some of the factors driving the growth of the firewall segment include the increasing need to fortify the enterprise network against unauthorized and unprecedented strikes, centralized policy management and simplified installation of firewalls for distributed enterprise networks, elimination of the upfront investment cost, rapid upgradation of and alteration to firewall protocols, proliferation of Next-Generation Firewall (NGFW), and seamless scalability and reduced operational cost.Other opportunities expected to drive market growth include higher demand for firewalls among SMEs and organizations with low-budget on IT and OT security measures.

Fortinet, Check Point, and Bayshore Networks offer effective and in-depth defense firewall solutions for the ICS and SCADA networks.
• By services, incident response services to grow at highest CAGR during forecast period

New cybersecurity compliance standards are emerging in all industries, and incident response services are swiftly becoming a required feature of a well-rounded security plan.An incident response process has been developed by the National Institute of Standards and Technology (NIST) to help protect companies in a variety of technology fields.

A variety of incident response team models, how to choose the optimal model, and how to run the team effectively are covered in this guide. The Payment Card Industry Data Security Standard (PCI DSS) requires that complaint entities develop an incident response plan, test it annually, designate a professional team, and train employees on how to follow the respective plan.
Similarly, the Healthcare Portability and Accountability Act also requires an incident response plan.Even if standards do not require companies to implement incident response plans, it is still worth developing an incident response strategy.

This requires subject-matter expertise from incident response services for ICS security practices to combat terrorist attacks & cyberattacks and the strict security norms followed by governments and international organizations.

Breakdown of primary participants:
• By Company Type: Tier 1 = 25%, Tier 2 = 40%, and Tier 3 = 35%
• By Designation: C-Level Executives = 30%, Directors = 35%, and Others = 35%
• By Region: North America = 15%, Europe = 25%, Asia Pacific = 30%, Middle East and Africa = 20%, Latin America= 10%
Major vendors in the global ICS security market include Cisco (US), ABB (Switzerland), Lockheed Martin (US), Fortinet (US), Honeywell (US), Palo Alto Networks (US), BAE Systems (UK), Raytheon (US), Trellix (US), Darktrace (UK), Check Point (US and Israel), Kaspersky Labs (Russia), Airbus (France), Belden (US), Sophos (US), CyberArk (US), Claroty (US), Dragos (US), Nozomi Network (US), Cyberbit (Israel), Forescout (US), Radiflow (Israel), Verve Industrial Protection (US), Applied Security (Netherland), and Positive Technology (Russia).
The study includes an in-depth competitive analysis of the key players in the ICS security market, with their company profiles, recent developments, and key market strategies.

Research Coverage:
The report segments the ICS security by component (solutions and services), security type (network security, endpoint security, application security, database security), vertical, and region (North America, Europe, Asia Pacific, Middle East and Africa, and Latin America).
The study also includes an in-depth competitive analysis of the key players in the market, along with their company profiles, key observations related to product and business offerings, recent developments, and key market strategies.

Key benefits of buying the report:
The report will help the market leaders/new entrants in this market with information on the closest approximations of the revenue numbers for the overall ICS security market and the subsegments.It will help stakeholders understand the competitive landscape and gain more insights to position their businesses better and plan suitable go-to-market strategies.

The report also helps stakeholders understand the pulse of the market and provides them with information on key market drivers, restraints, challenges, and opportunities.
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