Industrial Control Systems Security Market Trend 2019 – 2024 | Exponential Growth From Cyber-Attacks On Critical Infrastructure Industries

European nations are also implementing legislations in the wake of cyberattacks such as NotPetya and WannaCry that crippled infrastructure networks by initiating operation shutdowns. The EU Network and Information Security (NIS) Directive is an example of such a legislation that is underway in the UK. Other bodies like the European Union Agency for Network and Information Security (ENISA) have been around for years, offering advice on securing ICS/SCADA systems, ICS testing and ICS attack mitigation.


Advanced technologies in Artificial Intelligence (AI) and machine learning are emerging as effective tools to facilitate improved ICS security against sophisticated cyber threats. By using the real-time data monitoring with automated response and orchestration, these solutions offer an enhanced value compared to the legacy systems that function on the human-intervention based response.


The ICS system providers play a critical role in the ICS security landscape wherein they develop and commercialize advanced solutions as well as focus on developing robust cyber security solutions. These companies combine their long-standing expertise in the fields of industrial automation and process control to provide highly relevant security solutions and services to their customers.


Industrial control systems security market is projected to surpass USD 7 billion by 2024. Industrial control system encompasses different types of control systems in the industrial environment including Distributed Control Systems (DCS), Supervisory Control and Data Acquisition (SCADA) systems, and configurations such as Programmable Logic Controllers (PLC). An ICS comprises different mechanical, pneumatic, electrical, and hydraulic components that function together to facilitate the completion of industrial objectives such as the transportation or manufacturing of energy or matter.


The industrial control systems security market is projected to register a CAGR of over 20% between 2018 and 2024. The growth is attributed to the increasing incidents of cyber-attacks on critical infrastructure industries and consistent increase in the number of vulnerabilities detected in ICS components globally with government policies to ensure a robust IT security framework for National Critical Infrastructure (NCI) protection. The increasing need to secure industrial IT infrastructure from internal threats will contribute to the growing awareness related to industrial control systems security market over the forecast timeline. Using ICS security, companies can minimize the potential exposure to threats arising from internal resources by preventing access violations from unauthorized users. IT administrators can implement policies to determine, who can gain access to the applications and control systems equipment by centrally managing the user authentication and authorization.Preview (opens in a new window)