HOME Research Insight The Exponential Rise in Cyber-Attacks and Network Security Threats on Industrial Control Systems (ICS) is the Major Factor Driving the Demand for ICS Security Solutions and Services.



The Exponential Rise in Cyber-Attacks and Network Security Threats on Industrial Control Systems (ICS) is the Major Factor Driving the Demand for ICS Security Solutions and Services.


Industrial control system (ICS) is a general term that encompasses several types of control systems, including Supervisory Control and Data Acquisition (SCADA) systems, Distributed Control Systems (DCS), and other control system configurations such as Programmable Logic Controllers (PLC) are often found in the industrial sectors and critical infrastructures. Securing these systems has become a major concern in the present age of advanced persistent threats, such as Stuxnet and Havex RAT. The highly sophisticated and severe characteristics of such threats are inviting various security solution providers to customize their offerings according to the industries’ demand. However, the high cost of innovation, budget constraints, and the presence of legacy ICS that are more prone to cyber-attacks can be seen hindering the growth of the market. MarketsandMarkets expects the global ICS security market size to grow from USD 10.24 Billion in 2017 to USD 13.88 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 6.3%.

Companies such as Honeywell International Inc. (New Jersey, US), Siemens AG (Munich, Germany), Belden Inc. (Missouri, US), Check Point Software Technologies Ltd. (Tel Aviv, Israel), and Fortinet, Inc. (California, US), have created leading ICS security solutions to cater to the needs and demands of the market. These players have adopted various growth strategies such as acquisitions, agreements, partnerships, and new product launches.

The key players in this market are engaging in acquisitions and new product launches to provide innovative offerings and increase profitability. Honeywell adopted the strategies of acquisitions, collaborations, and new product launches. In June 2017, Honeywell announced the acquisition of Nextnine, one of the leading providers of security management solutions and technologies for industrial cyber security. In April 2015, it launched Honeywell Industrial Cyber Security Risk Manager, which monitors and measures the cyber security risk in multi-vendor industrial environments

Siemens AG adopted the strategies of partnerships, collaborations, and business expansions. In March 2016, Siemens and Intel Security expanded their collaboration to help protect industrial automation systems from increased cyber threats. In March 2016, Siemens expanded its Cyber Security Operation Center (CSOC) in Lisbon and Munich, and in Milford (Ohio) in the US for the protection of industrial facilities.

Related Reports:

Industrial Control Systems Security Market by Solution (Firewall, Antivirus/Anti–Malware, Identity and Access Management, Security Information & Event Management, DDOS, UTM), Service, Security Type, Vertical, and Region - Global Forecast to 2022

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