ICS Security Market to grow at 20% CAGR from 2018 to 2024 - PowerPoint PPT Presentation

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ICS Security Market to grow at 20% CAGR from 2018 to 2024

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More Information @ The transportation application segment in ICS security market is expected to exhibit a robust growth between 2018 and 2024 with a CAGR of around 26% due to the increasing awareness related to ICS security for protecting critical transportation networks such as highway, surface transportation, aviation, maritime, and pipeline. – PowerPoint PPT presentation

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Title: ICS Security Market to grow at 20% CAGR from 2018 to 2024


1
Industrial Control Systems Security Market to
reach 7bn by 2024 Global Market Insights Inc.
2
Industry Overview
  • ICS Security Market to exceed USD 7 billion by
    2024 driven by increasing incidents of
    cyber-attacks on offshore industrial platforms
    and marine operations. The ICS security market
    growth is attributed to the increasing incidents
    of cyber-attacks on critical infrastructure
    industries. Constantly evolving cyber threats,
    such as ransomware and viruses, can adversely
    affect production processes in critical
    infrastructure environments resulting in
    large-scale financial losses for the companies.
    The security concerns have increased considerably
    after the Industry 4.0 revolution as the tendency
    to connect ICS equipment to the internet has
    grown significantly in the industries.
  • The endpoint security segment held a majority
    share of around 40 in the ICS security market in
    2017 due to large-scale deployment of endpoint
    security solutions in critical industrial
    environments for securing different endpoint
    devices in the industrial networks that remain
    vulnerable to cyber threats. The network security
    market is projected to exhibit a robust growth
    with a CAGR of around 26 between 2018 and 2024
    due to the increasing incidents of network
    breaches in critical industrial sectors leading
    to large-scale production losses for the
    enterprises as well as increased concerns for
    national security.

3
Industrial Control Systems (ICS) Security Market

4

Browse Full Market Research Report Of Industrial
Control Systems (ICS) Security Market _at_
https//bit.ly/2m5bUKC Request for a
Sample of this Research report _at_
https//bit.ly/2J31tA1
5
Continue
  • The firewall segment dominated the market in 2017
    and is expected to secure a significant share of
    the overall ICS security market by 2024 due to an
    extensive adoption of ruggedized firewalls for
    maintaining and managing network traffic in
    industrial infrastructure operating in harsh
    environmental conditions. Firewalls play a
    critical role in containing internal cyber
    incidents and blocking external threats that
    could heavily impact productivity, safety, and
    reliability.
  • The energy sector held a major share of nearly
    40 in the ICS security market in 2017 and is
    expected to maintain this market dominance
    throughout the forecast period. The increasing
    incidents of cyber-attacks on the energy industry
    including gas pipeline infrastructure, oil gas
    platforms, and power utility infrastructure are
    majorly contributing to the growing emphasis on
    securing critical energy production and
    distribution networks. Government agencies are
    taking appropriate measures to secure critical
    national energy infrastructure from terrorist
    attacks that could lead to a major economic loss.
  • North America held around 50 share of the ICS
    security market in 2017 and is projected to hold
    a significant share of the overall market between
    2018 and 2024. With the availability of extensive
    industry standards, regulatory guidelines, and
    government initiatives in the U.S., the adoption
    of ICS security solutions is expected to grow in
    a structured manner across different industry
    verticals such as energy, advanced manufacturing,
    mining, and transportation.

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North America Industrial Control Systems (ICS)
Security Market Size, By Security Type, 2017
2024 (USD Million)

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Industry Coverage

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Continue
  • Companies operating in the ICS security market
    focus on product innovation and strategic
    collaborations for securing a competitive
    advantage. By monitoring and analyzing the number
    of vulnerable ICS components on a yearly basis,
    these companies develop appropriate solutions as
    well as updates to their existing solutions for
    ensuring effective security against the
    constantly evolving cyber threats. In February
    2018, GE Digital entered into a partnership with
    NRI Secure Technologies, a cybersecurity firm in
    the U.S., wherein, NRI Secure was recognized as
    an accredited certification authority for GE
    Digitals Achilles Communications Certification
    (ACC) program. Through the partnership, GE
    expanded its global OT network robustness
    certification program. In February 2017, Rockwell
    Automation teamed up with industrial security
    company Claroty to develop its anomaly detection
    software that is purpose-built for industrial
    network security. It creates an inventory of
    network assets and monitors traffic between them
    to detect and report anomalies. Through such
    strategic collaborations and partnerships, the
    companies operating in the ICS security market
    ensure the delivery of comprehensive security
    solutions and services to their customers.
  • Some of the key players operating in the ICS
    security market are ABB, BAE Systems, Bayshore
    Networks, Belden, Cisco, Cyberbit, Dragos,
    Fortinet, General Electric, Honeywell, IBM,
    Kaspersky, Nozomi Networks, Rolloos, FireEye,
    McAfee, Claroty, Raytheon, Schneider Electric,
    SecurityMatters, Symantec, and Trend Micro.

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