Industrial Control Systems Security Market Size, Share, Growth Analysis, By By Component(Solution, Services), By Solution(Anti-malware/Antivirus, DDoS, Encryption, Firewall), By Services(Consulting and Integration, Support and Maintenance, Training and Development, Incident Response Services), By Security type(Network Security, Endpoint Security, Application Security Database Security), By Vertical(Power [Nuclear Power Plants, Thermal and Hydropower Plants, Renewable Energy Power Plants, Power Grid]), By Region - Industry Forecast 2024-2031

Industrial Control Systems Security Market size was valued at USD 18.85 billion in 2022 and is poised to grow from USD 20.08 billion in 2023 to USD 33.22 billion by 2031, at a CAGR of 6.5% during the forecast period (2024-2031).

The global market for industrial control systems security has seen revenue increase as a result of the rise in cyberthreats. Industrial control systems are being more widely used in the manufacturing, chemical, energy, and other sectors as a result of the rise in cyberattacks. Many improvements in productivity and efficiency, as well as numerous changes to the way industrial processes operate, are anticipated to result from the shift to Industry 4.0. Industrial control systems are in demand because automation has increased productivity compared to traditional manufacturing methods and reduced production costs. The use of ICS solutions does, however, increase the requirement for security due to the exponential growth in cyberattacks and network security risks. The use of ICS security is significantly expanding as hackers attempt to break into company networks more frequently. The adoption of modern technologies is also producing enormous volumes of data, which is raising the demand for ICS security and, as a result, fuelling the global market's revenue growth. To preserve productivity, numerous automakers have automated their production plants. The demand for automobiles is anticipated to increase further as a result of the growing trend of switching from conventional to electric vehicles (EVs). For instance, according to the IEA, global sales of electric vehicles increased by a factor of two, from 3.0 million in 2020 to 6.6 million. These elements are promoting the use of industrial control systems and, as a result, are opening up profitable potential for the sector.

US Industrial Control Systems Security Market is poised to grow at sustainable CAGR for the next forecast year.