Global Industrial Control Systems Market Overview –
The value of the global industrial control systems market was estimated to be 126.3 billion US dollars in 2018. It is anticipated that it will expand at a compound annual growth rate of 8.6 percent over the period of the forecast, which runs from 2019 to 2025.
Because of the significant rise in the number of cyberattacks launched against the ICS that has been installed, the market for industrial control systems is experiencing a growing demand for technology that will assist it in complying with existing regulations and developing new regulations that will be beneficial to the expansion of the industrial control systems market on a global scale during the forecast period that will end in 2026.
During the course of the current forecast period, growing incentives to promote the necessity of protecting data from cyber threats combined with leaks and misuse have beneficial prospects for the Industrial Control Systems Market. In addition, governments that are active in a variety of regions all over the world are currently formulating, selecting, and publicising regulatory compliances that are likely to be of assistance to the operations of the market during the period.
Market Dynamics –
As a result of the evolving technological landscape, a number of different industry verticals are currently in the process of undergoing a global transformation. Because of this, previously separate ecosystems, such as those for digital technologies and industrial systems, have merged into a single ecosystem. This presents numerous lucrative opportunities for M2M communication and the Industrial Internet of Things. Therefore, an ICS consists of a number of devices that are embedded in a heterogeneous landscape and that communicate with both each other and with the platform when it is enabled with digital technologies.
Technologies that are based on the IIoT are utilised extensively across a variety of industries, including production, energy, oil and gas, metals and mining, healthcare, and transportation systems, to name a few.
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Control systems are ultimately essential to the transformation and evolution of these verticals, which took place as a direct result of technological advancements in industrial automation and robotics. It is anticipated that government initiatives like Industry 4.0 in Germany and Plan Industriel in France will fuel the growth of IIoT solutions, which will, in turn, boost the demand for ICS security solutions and services over the next few years. The occurrence of a severe cyber incident may result in significant financial losses, damage to the company’s brand, a decrease in customer trust, the theft of intellectual property, concerns regarding safety, and even the loss of a life. Therefore, in order to protect its ecosystem from any potential losses on any front—whether financial, operational, or human—ICS would need security measures to audit and ensure compliance.
COVID 19 Analysis –
Both the government and the regulatory authorities are embracing new practises that are related to emerging trends such as social distancing and the work-from-home scenario. This adoption is taking place in collaboration with the government. The newly discovered methods of digitally carrying out the transactions are included in the plans for the continuation of business operations and can be utilised by a variety of market participants.
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Additionally, the Industrial Control Systems Market is observing a widespread adoption of bring-your-own-device (BYOD) technology, and internet penetration has increased in industries such as power grids, oil and gas, and manufacturing carried out by businesses as well as private individuals. The ever-increasing leaning and dependence toward the extensive and in-depth use of digital technologies, which have been raised from the concepts related to ICS solutions, are driving for the development of measures to seek protection from cyber-attacks.
Market Scope –
The report titled “Global Industrial Control Systems Security Software Market Analysis to 2028” is a specialised and in-depth study of the industrial control systems security software market, with a particular emphasis on the analysis of the trends that are prevalent in the global market. The purpose of this report is to provide an overview of the market for security software for industrial control systems along with a detailed segmentation of the market based on the types of software, services, solutions, and end users.
During the period covered by this forecast, the global market for industrial control systems security software is anticipated to experience significant expansion. The report offers key trends and opportunities in the industrial control systems security software market and provides key statistics on the market status of the leading players in the market for industrial control systems security software.
Key Players –
Honeywell International Inc
Aspen Technology Inc.
Emerson Electric Company
Rockwell Automation, Inc
General Electric Co
Mitsubishi Electric Corporation
Yokogawa Electric Corporation
By Type –
Industrial Control Systems
Manufacturing Execution System (MES)
Enterprise Resource Planning (ERP)
Product Lifecycle Management (PLM)
By Applications –
Aerospace and defense
Chemical & Petrochemical
Food & Beverages
By Regions –
Middle East & Africa