Industrial Control Systems (ICS) Security Market Size (2024 - 2029)

Industrial Control Systems Security Market Analysis

The Industrial Control Systems Security Market size is estimated at USD 18 billion in 2024, and is expected to reach USD 25.12 billion by 2029, growing at a CAGR of 6.90% during the forecast period (2024-2029).

• The growing proliferation of advanced industrial technologies such as IIoT, automation, and robotics by industrial enterprises is expected to drive the growth of the industrial control system (ICS) market across various end-user industries. Furthermore, efforts being made by the vendors to develop innovative solutions and enhance the capability of ICS security solutions are poised to fuel the market's growth during the forecast period.
• With large-scale, continuous, and highly parameterized industrial devices, the need for industrial automation systems is continually increasing, leading to notable investments in advanced industrial automation and robotics solutions. For instance, according to the International Federation of Robotics (IFR), the annual installation of industrial robots is anticipated to reach 718 thousand units globally by 2026, from 400 thousand units in 2017.
• Present-day industrial control systems have also evolved from existing physical systems to the addition of IT capabilities, often replacing or supplementing physical control mechanisms. Thus, to independently meet the requirements of safe start-stop, stable operation, and optimal operation of industrial production systems, it has become necessary to seamlessly automate various industrial products and manufacturing systems.
• However, factors such as the complexity of implementing an ICS security system and high initial costs are among the major challenges for the growth of the market studied. For instance, to adopt ICS security systems, it is required to have supporting infrastructure like high-speed connectivity, information and communication networks, and a skilled workforce, which require significant investments. This, in turn, slows down the adoption of ICT security solutions, especially in the small and medium business segment.
• A significant positive impact of the pandemic was observed in the general awareness of advanced industrial technologies, such as automation, robotics, AI and IIoT, as the exposure to these technologies grew significantly as businesses were looking for options to minimize the use of manual workforce while maintaining the productivity.
• As a result of such trends, the uptake of industrial control also increased. Although the pandemic phase has surpassed, the approach of the industrial sector toward advanced industrial technologies continues to remain positive, leading to sustained growth in their adoption, which, in turn, is anticipated to bolster the market's growth during the forecast period.

Industrial Control Systems Security Industry Segmentation

Industrial control systems (ICS) security includes securing and safekeeping industrial control systems and the software and hardware used by the system. It focuses on keeping processes and machinery running smoothly. The offered solutions include integrated hardware and software packaged to control and monitor the operation of machinery and associated devices operating in industrial environments.

The industrial control systems security market is segmented by end-user industry (automotive, chemical and petrochemical, power and utilities, pharmaceuticals, food and beverages, oil and gas, other end-user industries) and geography (North America (United States, Canada), Europe (United Kingdom, Germany, France, Rest of Europe), Asia-Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America, Middle East and Africa). The market size and forecasts are provided in terms of value (USD) for all the above segments.