New York, NY, Dec. 31, 2018 (GLOBE NEWSWIRE) — Zion Market Research has published a new report titled “Industrial Control Systems Market by Solution (Encryption, Security and Vulnerability Management, Security Configuration Management, Intrusion Detection System/Intrusion Prevention System, Antimalware/Antivirus, Firewall, Distributed Denial of Service Mitigation, Security Information and Event Management, and Identity and Access Management), by Service (Consulting and Integration, Managed Security, Incident Response, Support and Maintenance, and Training and Development), by Security Type (Network, Endpoint, Vertical, and Database), and Vertical (Power, Energy and Utilities, Transportation Systems, Manufacturing, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017—2024”. According to the report, the global industrial control systems market accounted for USD 84.75 billion in 2017 and is expected to reach USD 181.6 billion by 2024, at a CAGR of around 11.5% between 2018 and 2024.
An industrial control system is any distributed control system (DCS), supervisory control and data acquisition (SCADA), programmable logic controller (PLC), or any automation system that is used in industries with complex infrastructures. Industrial control systems target cybercriminals by primarily monitoring the industrial processes and critical infrastructures that distribute water, transport, manufacturing, power, and other vital services.
Browse through 56 Tables & 40 Figures spread over 145 Pages and in-depth TOC on “Global Industrial Control Systems Market Size 2017: Industry By Type, Solutions, Market Share, Segments, Analysis and Forecast 2024”.
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The increasing adoption of IIoT for real-time decision-making processes, rising government initiatives for the adoption of automation in numerous industries, and growing industrial infrastructure in developing nations, such as India and China, are the major factors predicted to propel the development of the industrial control systems market in the upcoming years. The rapidly growing power sector across the globe coupled with the convergence of IT and OT is likely to further drive the global industrial control systems market in the analysis period. However, the lack of awareness about industrial control systems might limit the industrial control systems market in the years ahead. Nonetheless, strategic partnerships and mergers among market participant are expected to open new growth avenues in the global industrial control systems market in the years to come.
The industrial control systems market is bifurcated into a solution, service, vertical, and security type. By solution, this market includes encryption, security and vulnerability management, security configuration management, intrusion detection system/intrusion prevention system, antimalware/antivirus, firewall, distributed denial of service mitigation, security information and event management, and identity and access management. Encryption solutions are anticipated to register the highest CAGR in the market in the future, owing to the increasing data thefts and the rising demand for data protection by various industries.
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By service, this market is divided into consulting and integration, managed security, incident response, support and maintenance, and training and development. Consulting and integration services are estimated to offer significant opportunities for market participants in the forecast time period. On the other hand, incident response services are expected to be the fastest growing segment in the years to come.
Power, energy and utilities, transportation systems, manufacturing, and others comprise the market’s vertical segment. The energy and utilities sector held the largest share in the industrial control systems market globally in 2017. Additionally, the manufacturing sector is expected to register the highest CAGR in the analysis period.
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By region, North America dominated the industrial control systems market globally in 2017 and is expected to continue its dominance in the analysis period as well. This can be primarily attributed to the increasing demand for reliable and safer process automation by various sectors, such as oil and gas, power plants, water, and wastewater, etc. and the presence of major market players in the region.
Europe is expected to witness a remarkable growth rate in the industrial control systems market over the projected time period, owing to the rising demand for modernization of power infrastructures, oil and gas, transportation systems, chemical factories, and manufacturing facilities. In addition, the increasing use of industrial control system technology to safeguard cyber networks from unwanted risk or attacks and recent technological advancement are likely to contribute toward the region’s industrial control systems market in the future.
Browse the full “Industrial Control Systems Market by Solution (Encryption, Security and Vulnerability Management, Security Configuration Management, Intrusion Detection System/Intrusion Prevention System, Antimalware/Antivirus, Firewall, Distributed Denial of Service Mitigation, Security Information and Event Management, and Identity and Access Management), by Service (Consulting and Integration, Managed Security, Incident Response, Support and Maintenance, and Training and Development), by Security Type (Network, Endpoint, Vertical, and Database), and Vertical (Power, Energy and Utilities, Transportation Systems, Manufacturing, and Others): Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017—2024” Report at https://www.zionmarketresearch.com/report/industrial-control-systems-market
The Asia Pacific region is estimated to be the fastest growing market over the forecast time period. The major gap in the demand and supply of industrial control systems s in emerging economies, such as China and India, is estimated to drive the demand for DCS, PLC, and SCADA products in the region’s power sector. In addition, the connected ICS devices in the Asia Pacific, around 7000 devices detected are based on industrial control systems networking protocols and around 84,000 devices are based on ICS brands. This, in turn, is likely to contribute toward this regional market’s growth in the upcoming period.
The developing economies of Latin America are potential options for the industrial control systems market, due to the established automotive manufacture and marketing hubs that are supported by free trade agreements and government incentives. The Middle Eastern and African region is expected to witness a steady rate of growth in this market, owing to huge investments by the government for the development of various security solutions, such as SCADA encryption, DDoS, firewall, and antivirus.
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Some key players of the industrial control systems market are ABB, Check Point Software Technologies, Sophos, Schneider Electric, Positive Technologies, NozomiNetworks, Baker Hughes, GE Company, Cyberark Cisco, Honeywell, FireEye, McAfee, Bayshore Networks, Symantec, Kaspersky Lab, Belden, Airbus, BAE Systems, and Rockwell Automation, among others.
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This report segment the global industrial control systems market into:
Global Industrial Control Systems market: Solution Segment Analysis
- Security and Vulnerability Management
- security Configuration Management
- Intrusion Detection System/Intrusion Prevention System
- Distributed Denial of Service Mitigation
- Security Information and Event Management
- Identity and Access Management
Global Industrial Control Systems market: Service Analysis
- Consulting and Integration Services
- Managed Security Services
- Incident Response Services
- Support and Maintenance Services
- Training and Development Services
Global Industrial Control Systems Market: Security Type Analysis
- Network Security
- Endpoint Security
- Vertical Security
- Database Security
Global Industrial Control Systems market: Vertical Analysis
- Energy and Utilities
- Transportation Systems
Global Industrial Control Systems Market: Regional Analysis
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa
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