Industrial Control Systems (ICS) Security Market Analysis to 2028 with Insights on AI & ML, IoT, Cloud-based Security, Zero Trust Architecture, and Blockchain Technologies

Dublin, Feb. 09, 2024 (GLOBE NEWSWIRE) -- The "Industrial Control Systems Security Market by Component (Solutions, Services), Solution (Antimalware/Antivirus, DDoS Mitigation), Service (Incident Response Services, Consulting & Integration), Security Type, Vertical, and Region - Global Forecast to 2028" report has been added to's offering.

The global ICS security market size is projected to grow from USD 17.8 billion in 2023 to USD 25.1 billion by 2028 at a Compound Annual Growth Rate (CAGR) of 7.1% during the forecast period. The ICS security market is propelled by key factors shaping its growth trajectory. These include integrating IT and OT systems, driving expansion in ICS security solutions, and confluence of digital technologies and industrial systems integration.

The report segments the ICS security market and forecasts its size by component, solutions, services, security type, vertical, and region. The study also includes an in-depth competitive analysis of the market's key players, their company profiles, key observations related to product and business offerings, recent developments, and key market strategies. 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), RTX (US), Trellix (US).

By vertical, energy and utilities hold the largest market size

Renewable energy power plants have had significant market expansion over the last 20 years because of their renewability, pollution-free nature, large resource amplitude, and generally safe features. An estimated 20% of wind power facilities are expected to increase in the next years. Additionally, it's projected that renewable energy sources account for 15-16% of the world's electricity. Due to their wide dispersion, these sources need all-encompassing solutions for operations management and monitoring.

The increasing digitization and interconnectivity of critical infrastructure have exposed energy and utility systems to a heightened risk of cyber threats, propelling a surge in demand for robust ICS security solutions. Adopting smart grids, IoT-enabled devices, and cloud-based solutions has expanded the attack surface, necessitating specialized security solutions tailored for these industrial environments.

By services, the Consulting and integration segment holds the largest market size

Consulting and integration services play a pivotal role in guiding organizations through the complex landscape of ICS security, offering tailored strategies to fortify critical infrastructure against cyber threats. As industries increasingly digitize their operations, there's a growing realization of the need for specialized expertise to assess vulnerabilities, design comprehensive security frameworks, and integrate sophisticated solutions into existing infrastructure seamlessly.

The demand for these services is propelled by a surge in cyber threats targeting ICS environments, urging businesses to seek proactive measures and specialized knowledge to safeguard their operational technology networks. Consulting firms and integrators are stepping in to fill this gap, offering expertise in risk assessment, compliance adherence, architecture design, and implementation of robust security protocols.

By region, North America holds the largest market size

North America has been at the forefront of implementing ICS security solutions. ICS security solutions are widely employed in various industries, including manufacturing, chemicals, energy, and utilities, in light of the increasing cyberattacks on critical infrastructure. Additionally, this region has shown remarkable adaptability to the most recent technological developments, including the incorporation of cloud and loT security solutions with ICS security solutions to create a comprehensive secure access mechanism and implement a security governance structure.

The North American area holds a considerable market share, which may be gained through innovative technologies, especially given the rising awareness of ICS security among small and medium-sized firms and the extensive use of data-driven approaches in industrial processes. Effective ICS security and resilience have been achieved in the region due to public-private partnerships (PPP) and international cooperation.

Key Attributes

Report AttributeDetails
No. of Pages353
Forecast Period2023-2028
Estimated Market Value (USD) in 2023$17.8 Billion
Forecasted Market Value (USD) by 2028$25.1 Billion
Compound Annual Growth Rate7.1%
Regions CoveredGlobal

Market Dynamics

  • Drivers
    • Confluence of Digital Technologies and Industrial System Integration
    • Government Initiatives and Regulations in Critical Infrastructure Protection
    • Integration of IT and OT Systems
  • Restraints
    • Elevated Acquisition Expenses for ICS Security Solutions
    • Challenges in Upgrading and Maintaining ICS Security Solutions
  • Opportunities
    • Escalating Demand for Professional and Managed Security Services in Small and Medium-Sized Enterprises
    • Government R&D Investment Initiatives for Robust Advancements in ICS Security Solutions
  • Challenges
    • Shortage of Analysts
    • Limited Awareness About ICS Security Techniques

Use Cases

  • Use Case 1: Palo Alto Networks Helped Warren Rogers Associates with ICS Security
  • Use Case 2: Capula Helped Major Power Provider Improve Existing Robust Cyber Security Program
  • Use Case 3: Multinational Gas and Electrical Distribution Company Deployed Industrial Defender Central Manager to Monitor Its Critical Assets
  • Use Case 4: Nozomi Networks Helped Vermont Electric Cooperative Enhance Cybersecurity and Operational Efficiency

Technology Analysis

  • Artificial Intelligence (AI) and Machine Learning (ML)
  • IoT
  • Cloud-based Security
  • Zero Trust Architecture
  • Blockchain

Companies Profiled

  • ABB
  • Applied Risk
  • BAE Systems
  • Belden
  • Check Point
  • Cisco
  • Claroty
  • Cyberark
  • Cyberbit
  • Darktrace
  • Dragos
  • Forescout
  • Fortinet
  • Honeywell
  • Kaspersky Lab
  • Lockheed Martin
  • Nozomi Networks
  • Palo Alto Networks
  • Positive Technology
  • Radiflow
  • RTX
  • Sophos
  • Tenable
  • Trellix
  • Verve Industrial Protection

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Global ICS Security Market

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