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Industrial Control Systems Security Market To Grow By USD 10.8 Billion From 2022 To 2027, The Growing Need To Improve Security To Drive The Growth- Technavio

By PR Newswire

PR Newswire
Overall Rating

NEW YORK, Sept. 25, 2023 /PRNewswire/ -- The industrial control systems security market is expected to grow by USD 10.8 billion from 2022 to 2027. However, the growth momentum of the market will progress at a CAGR of 7.79% during the forecast period. The market is segmented by Type (Network security and Cloud security), End-user (Oil and gas, Power, Chemicals and mining, Automotive, and Others), and Geography (North America, APAC, Europe, South America, and Middle East and Africa). The growing need to improve security is a key factor driving market growth. Businesses need to strengthen their security because cyber-attacks are becoming more frequent and complex. Moreover, there is an increase in false positives and false negatives due to the greater complexity of applications used by businesses daily. However, to reduce the funding required to train or recruit personnel assigned to this task, many companies have outsourced their security responsibilities, not only to qualified personnel but also to focus on security issues. Hence, these factors are expected to drive market growth during the forecast period. The report analyses the market size and growth and provides accurate predictions on the growth of the market. View FREE PDF Sample 

Key Highlights:

  • The report recognizes the following as some of the key players in the industrial control systems security market: ABB Ltd., Airbus SE, AO Kaspersky Lab, BAE Systems Plc, Belden Inc., Broadcom Inc., Check Point Software Technologies Ltd., Cisco Systems Inc., Claroty Ltd., CyberArk Software Ltd., Darktrace Holdings Ltd., Fortinet Inc., Honeywell International Inc., International Business Machines Corp., Lockheed Martin Corp., Musarubra US LLC, Palo Alto Networks Inc., Positive Technologies, Radiflow, and Sophos Ltd.
  • Industrial Control Systems Security Market is fragmented in nature.
  • Market to observe 7.29% YOY growth in 2023.

Market Dynamics:

Major Trend

  • The adoption of the hybrid model is a major trend in the market.

Significant Challenge

  • The lack of enforceable security laws is a key factor driving market growth.

The report also covers information on upcoming trends and challenges. Explore detailed information by purchasing a report

Key Segments:

  • The market share growth by the network security segment will be significant during the forecast period. Protecting critical infrastructure and business operations is a top priority when it comes to network security in the Industrial Control Systems (ICS) Security Market. The ICS is concerned with the safety of networks and control systems, which oversee the most important activities in a wide range of sectors, including energy and infrastructure. In addition, they may be able to deal with an incident rapidly, due to the detection of anomalies and possible threats in real-time. Hence, these factors are expected to drive segment growth during the forecast period.

Get a glance at the market contribution of the segments, Request a FREE Sample

FAQS

  • How do the major trends impact the market?
  • How big is the North America market?
  • How do the key drivers and challenges impact the market?

Related Reports:

The robotics system integration market size is estimated to grow at a CAGR of 9.89% between 2022 and 2027. The market size is forecast to increase by USD 4,752.09 million. This report extensively covers market segmentation by application (material handling, welding and soldering, assembly line, and others), end-user (electronics, automotive, healthcare, aerospace and defense, and logistics and others), and geography (APAC, Europe, North America, South America, and Middle East and Africa). Technological innovations in robotic system integration are the key factor driving the growth of the market.

The robotics as a service (RaaS) market size is estimated to grow at a CAGR of 18.29% between 2022 and 2027. The market size is forecast to increase by USD 1,497.76 million. This report extensively covers market segmentation by type (professional and personal), application (intralogistics, medical applications, surveillance and security, field robotics, and others), and geography (APAC, North America, Europe, South America, and the Middle East and Africa). Increased remote services and the adoption of IoT are the key factors driving the growth of the market.

ToC:

Executive Summary

Market Landscape

Market Sizing

Historic Market Sizes

Five Forces Analysis

Market Segmentation by End-User

Market Segmentation by Geography

Customer Landscape

Geographic Landscape

Drivers, Challenges, & Trends

Company Landscape

Company Analysis

Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research

Jesse Maida

Media & Marketing Executive

US: +1 844 364 1100

UK: +44 203 893 3200

Email: media@technavio.com

Website: www.technavio.com

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SOURCE Technavio

First published on Mon, Sep 25, 2023

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