Industrial Control Systems Security Market by Offering, Security Type (Network Security, Cloud Security), Organization Size, Application (Identity & Access Management, Firewalls), End-use Industry (Energy & Utilities, FMCG)—Global Forecast to 2030

The Industrial Control Systems Security Market is projected to reach $30.2 billion by 2030, at a CAGR of 10.1% from 2023 to 2030. The growth of the Industrial control systems security market is driven by the consistent rise in the adoption of cloud-based services, government initiatives and regulations supporting the adoption of ICS security solutions. However, the high capital expenditure required for ICS security deployment may restrain the market's growth.

Furthermore, the increasing adoption of Industry 4.0 and smart manufacturing technologies and the growing demand for robotic process automation systems are expected to offer significant growth opportunities for the Industrial control systems security market. However, the lack of trained IT-OT professionals in the field of cybersecurity may hinder the growth of this market.

Consistent Rise in the Adoption of Cloud-based Services to Drive the Growth for the Industrial Control Systems Security Market

In today’s modern connected world, most organizations and government bodies are becoming inclined toward cloud deployment and reshaping the approach to digitalization. The COVID-19 pandemic highlighted the importance of cloud-based platforms and services, forcing organizations to move their workloads to the cloud to gain agility and reduce expenses. In the industrial sector, the demand for cloud-based services for OT/ICS environments is rising as these services help organizations reduce costs, achieve sustainable growth, and leverage the benefits of digitalization. Cloud-based services enable fully remote work, allowing professionals to remotely manage industrial systems.

According to Statista, 49% of users prefer to remotely monitor, configure, and analyze the working of Operational Technology (OT) and Industrial Control Systems (ICS) in their organization using cloud-based services. The increasing adoption of cloud capabilities for ICS has enabled faster data communication, device performance analysis, device configuration management, improved diagnostics and troubleshooting, and a centralized view of processes, redundancy, and scalability. However, this has increased the vulnerability of ICS infrastructure. Several market players are collaborating to tackle security issues in ICS infrastructure. For instance, in 2022, XONA Systems (U.S.) partnered with Nozomi Networks Inc. (U.S.) to help critical infrastructure operators enhance and remotely manage the security of operational technology and industrial control systems. Also, in 2022, DE-CIX (Malaysia) partnered with BasicBrix Cloud Pte Ltd. (Singapore) to provide cloud computing and offer a wide range of cost-effective, secure cloud and infrastructure services for Malaysian SMEs. Such developments, along with the consistent rise in the adoption of cloud-based services, are driving the growth of the ICS security market.

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Key Findings in the Industrial Control Systems Security Market Study:

The Software Segment Segment to Register the Highest CAGR During the Forecast Period

Based on offering, the software segment is slated to register the highest CAGR during the forecast period. The growth of this segment is driven by the increasing concerns regarding data security and privacy and industrial enterprises’ consistent efforts to improve efficiencies, reduce costs, and increase security.

In 2023, the Network Security Segment is Expected to Dominate the Industrial Control Systems Security Market

Based on security type, in 2023, the network security segment is expected to account for the larger share of the Industrial control systems security market. The segment’s large share is attributed to the rising adoption of network services, growing data security & privacy concerns, and the increasing demand for network security software solutions due to the growth in malware attacks.

The Small And Medium-Sized Enterprises Segment to Register the Highest CAGR During the Forecast Period

Based on organization size, the small and medium-sized enterprises segment is slated to register the highest CAGR during the forecast period. The rising awareness regarding the significance of ICS security among small and medium-sized enterprises is expected to boost the growth of the small and medium-sized enterprises segment at a higher CAGR during the forecast period.

In 2023, the Identity & Access Management Segment is Expected to Dominate the Industrial Control Systems Security Market

Based on application, in 2023, the identity & access management segment is expected to account for the largest share of the industrial control systems security market. The segment’s large share is attributed to the rapid increase in industrial control systems in the manufacturing sector and the growing demand for IAM solutions due to rising security concerns in the industrial sector.

The FMCG Segment to Register the Highest CAGR During the Forecast Period

Based on end-use industry, the FMCG segment is slated to register the highest CAGR during the forecast period. The growth of this segment is driven by the adoption of advanced technologies in the FMCG market due to frequent changes in consumer preferences and increasing data breaches in FMCG companies.

Asia-Pacific to Register the Highest CAGR During the Forecast Period

Asia-Pacific is slated to register the highest CAGR during the forecast period. The growth of this market is attributed to the advent of Industry 4.0 and increasing cyberattacks in the industrial sector.

Key Players

The report includes a competitive landscape based on an extensive assessment of the key growth strategies adopted by major market players in the last three to four years. The key players profiled in the industrial control systems security market study are Fortinet, Inc. (U.S.), Cisco Systems, Inc. (U.S.), Juniper Networks, Inc. (U.S.), Palo Alto Networks, Inc. (U.S.), IBM Corporation (U.S.), Check Point Software Technologies Ltd. (Israel), ABB Ltd (Switzerland), Honeywell International, Inc. (U.S.), Schneider Electric SE (France), BAE Systems plc (U.K.), Applied Risk (Netherlands), Verve Industrial Protection (U.S.), CrowdStrike Holdings, Inc. (U.S.), Sophos Ltd. (U.K.), Claroty Ltd. (U.S.), Imperva, Inc. (U.S.), Trend Micro Incorporated (Japan), Darktrace Holdings Limited. (U.K.), Cyberbit Ltd (Israel), AO Kaspersky Lab (Russia), Radiflow LTD (Israel), Positive Technologies (Russia), and Airbus SE (Netherlands).

Scope of the Report:

Industrial Control Systems Security Market Assessment, by Offering

• Hardware
• Software
• Services
  • Professional Services
  • Managed Services

Industrial Control Systems Security Market Assessment, by Security Type                          

• Application Security
• Endpoint Security
• Cloud Security
• Network Security

Industrial Control Systems Security Market Assessment, by Organization Size                                

• Small and Medium-sized Enterprises
• Large Enterprises

Industrial Control Systems Security Market Assessment, by Application                              

• Data Loss Prevention
• Unified Threat Management
• Encryption
• Identity & Access Management
• Risk & Compliance Management
• Antivirus/Antimalware
• Intrusion Detection/Prevention
• Distributed Denial of Service (DDoS) Mitigation
• Security & Vulnerability Management
• Security Configuration Management
• Security Information & Event Management (SIEM)
• Whitelisting
• Firewalls
• Other Applications

Industrial Control Systems Security Market Assessment, by End-use Industry                                 

• Automotive
• Electronics & Electrical
• FMCG
• Heavy Metals & Machinery
• Energy & Utilities
• Transportation
• Other Industries

Industrial Control Systems Security Market Assessment, by Geography

• North America

  • U.S.
  • Canada
• ​​​​Europe
  • Germany
  • U.K.
  • France
  • Italy
  • Spain
  • Netherlands
  • Denmark
  • Sweden
  • Rest of Europe
• Asia-Pacific
  • Japan
  • China
  • India
  • Singapore
  • Malaysia
  • Australia & New Zealand
  • Rest of Asia-Pacific
• Latin America
  • Mexico
  • Brazil
  • Rest of Latin America
• Middle East & Africa
  • UAE
  • Israel
  • Saudi Arabia
  • Rest of Middle East & Africa  

Key questions answered in the report: