PUNE, India, July 5, 2016 /PRNewswire/ -- According to a new market research report "Industrial Control Systems (ICS) Security Market by IT Solution, by IT Service (Risk Management Services, Design, Integration and Consulting, Managed Services, and Audit and Reporting), by Vertical and Region - Global Forecast to 2021" , published by MarketsandMarkets, the Industrial Control Systems (ICS) Security Market size is estimated to grow from USD 9.00 Billion in 2016 to USD 12.60 Billion by 2021, at a Compound Annual Growth Rate (CAGR) of 7.0%.
ICSs are continuously adopting the IT solutions, which result in an increase in cyber security vulnerabilities and incidents. An ICS Security solution helps to secure organizations from cyber threats such as Stuxnet, Blackenergy, and Night Dragon and also provides effective network security capabilities to detect and mitigate the potential threats. As the frequency of sophisticated attacks on critical infrastructure are growing, the ICS Security Market is expected to gain traction in the next five years.
Rise in cyber-attacks on critical infrastructure will drive the ICS Security Market
The major forces driving the ICS Security Market are the increasing cyber-attacks on critical infrastructure such as power, transport, water & wastewater, oil & gas, manufacturing, and others. With increase in connections between control network and corporate network, the systems have become more exposed to cyber security threats such as Stuxnet, Blackenergy, and Night Dragon. This has encouraged organizations to deploy ICS security solutions to safeguard their control networks and industrial processes against potential cyber-attacks.
Database Activity Monitoring (DAM) IT solution to play a key role in the ICS Security Market
DAM will play a key role in changing the ICS security landscape during the forecast period and it also expected to grow with the highest CAGR during the forecast period. As it provides ICS security managers with real-time monitoring of all the processes/activities in the network, systems, databases, and applications. Furthermore it also tracks and monitors all the threats and enables effective and timely response to those threats.
North America expected to contribute the largest market share, MEA to grow the fastest
North America is expected to have the largest market share and would dominate the ICS Security Market from 2016 to 2021, due to the presence of a large number of ICS security vendors. Various companies such as IBM, CSC, Cisco, McAfee, Lockheed Martin, and Palo Alto Networks among others are operating in the market space. MEA offers potential growth opportunities for the ICS Security Market to grow, as countries in MEA are investing heavily to increase the development of DDOS, IDS/IPS, antivirus/malware, firewall, SCADA encryption, DAM, and other security solutions.
The major vendors in the Industrial Control Systems (ICS) Security Market include ABB Group (Switzerland), Honeywell International (U.S.), IBM Corporation (U.S.), Cisco Systems (U.S.), Lockheed Martin (U.S.), and others.