Industrial Control System (ICS) Security Market Worth $8.73 Billion by 2019
DALLAS, December 19, 2014 /PRNewswire/ --
According to a new market research report "Industrial Control System (ICS) Security Market by Technology (DDOS, IDS/IPS, Firewall, SIEM, SCADA Encryption, UTM, Application, Whitelisting, DLP, Database Activity Monitoring), by Services, and by Verticals - Global Forecast to 2019", published by MarketsandMarkets, segments the global ICS security market into various sub-segments with in-depth analysis and forecasting of revenues. It also identifies drivers and restraints for this market with insights into trends, opportunities, and challenges.
Browse 70 market data tables, 42 figures spread through 192 pages and in-depth TOC on "Industrial Control System (ICS) Security Market - Global Forecast to 2019"
Early buyers will receive 10% customization on this report.
ICS security is an amalgamation of two major segments which includes network security technologies and professional services. Together these segments provide overall security solutions to the national critical infrastructures such as power, energy, transportation systems, water utilities, pipelines and communication systems. Increasing sophisticated cyber-attacks and threats on control networks have made it compulsory for the power and energy producing companies to implement highly sophisticated security solutions. Most of the countries have framed strict regulations and security compliances for the securing the industrial control networks. ICS security provides network security solutions as well as professional services that are necessary to secure the power plants from vulnerabilities. This helps in performing smooth operations at the plant without any disturbances and hindrances.
Even though there are security measures being implemented to protect the control systems and automation solutions, but there is no single comprehensive solution for providing fool-proof network security to these networks. The control system solutions that are currently implemented are in obsolete and are not prepared to counter the target specific cyber attacks. Major Tier1 companies are now providing embedded control system solutions along with security solutions and are getting into this escalating market for ICS security.
MarketsandMarkets has segmented the global ICS security by type of security technologies: Distributed Denial of Service (DDoS), Intrusion Detection Systems/Intrusion Prevention Systems (IDS/IPS), firewall, antivirus/malware, virtualization security, Data Loss Prevention (DLP), Security Information and Event Management (SIEM), application whitelisting, Unified Threat Management (UTM), update and patch management and database activity monitoring; by type of verticals: power, energy and utilities, transportation systems, chemical and manufacturing and other critical infrastructures; by regions: North America (NA), Asia Pacific (APAC), Europe (EU), Middle East and Africa (MEA) and Latin America (LA).
The major forces driving this market are the increased threat of cyber attacks across energy and power sector, government pressure and security compliance and regulations, threats from terrorist attacks and cyber attacks, lack in comprehensive solutions for ICS security and insider threats. Companies providing cyber security solutions are looking forward to gain a better competitive advantage in this growing market, thereby creating comprehensive security solutions and integrated security management platforms for the industries and critical infrastructures.
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The global Industrial Control System (ICS) Security Market is estimated to be $6.18 billion in 2014 and is expected to grow to $8.73 billion in 2019. This represents an estimated Compound Annual Growth Rate (CAGR) of 7.2% from 2014 to 2019. In the current scenario, the power, energy and utilities vertical security continues to be the largest segment, in terms of spending and adoption, for ICS security solutions. This is followed by commercial, communication systems and manufacturing industry ICS security solutions. In terms of regions, North America is expected to be the biggest market on the basis spending and adoption for ICS security solutions. MarketsandMarkets further expects that the increasing energy markets in the developing economies and increased deployment of ICS infrastructure will further enhance the growth of the market.
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