DUBLIN--(BUSINESS WIRE)--The "Industrial Cybersecurity Market by Security type (Network, Endpoint, Application, Cloud, Wireless and Others), Offering (Products and Solutions & Services), End-User (Power, Utilities, Transportation, Chemicals & Manufacturing and Others) & Geography - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The Industrial Cybersecurity Market is Expected to Grow at a CAGR of 5.81% from USD 16.9 Billion in 2020 to USD 22.5 Billion
Increasing cyber-attacks in various industries to increase the industrial cybersecurity market. ICS market for application security expected to grow at the highest CAGR during the forecast period. Application security refers to the security of software and code from external and internal threats, including web attacks, DDoS attacks, site scraping, and fraud. It involves security policies to protect industrial applications and confidential information from both random and targeted application security attacks. It is a structured practice for the protection of applications, using hardware, software, and operational policies.
Application security comprises the protection of SCADA applications and critical controllers, which are responsible for the proper running of industrial processes. A few of the major players who offer application security are CyberArk Software Inc. (US), Belden Incorporated (US), and Cisco Systems Inc. (US).
Application security is important because more applications are available, nowadays, over various networks that can be connected to the cloud due to which there might be increased attacks and data breaches. Application security is of different types, namely, authentication, authorization, encryption, logging, and application security testing. Application developers that create different applications use application security for testing the software solutions they develop to ensure that there are no vulnerabilities in the newly developed application.
Market Dynamics
Drivers
- Increasing Investments by Governments Worldwide to Establish Framework for Improving Cybersecurity at Industrial Environments
- Growing Number and Sophistication of Cyberattacks on Industrial Control Systems
- Increasing Focus on Integrating IoT into Industrial Control Systems
Restraints
- Underestimation of Threat Levels and Misunderstanding of Nature of Threats
- Lack of Adequate Funds, Framework, and Governance Required to Develop Cybersecurity Solutions
Opportunities
- Rising Importance of Cloud-Based Ics-As-A-Service
- Growing Focus of Government Organizations to Support Secure Industrial Control Systems
Challenges
- Lack of Awareness About Best Practices and Criticality of Cybersecurity in Industrial Control Systems
Global Cybersecurity Standards and Frameworks
- Isa/IEC 62443 (Formerly Known as Isa-99) - Industrial Network and System Security
- National Institute of Standards and Technology - Sp 800-82 (Nist Sp 800-82) - Guide to Ensure Security of Industrial Control Systems
- International Organization for Standardization 27002 (Iso 27002) - Information Security Standard
- Working-Party on Instrument Behaviour M-2784 (Wib M-2784) - Process Control Domain: Security Requirements for Vendors
COVID-19-Related Drivers
- Increased Cybersecurity Risks with Working from Home Policy Adopted by Enterprises in Pandemic Situation
- High Necessity to Respond Quickly to Potential Cyber Threats During COVID-19 Pandemic
COVID-19-Related Challenges
- Post-COVID-19 Industrial Cybersecurity Posture
Use Cases
- Use Case 1: Honeywell Inc
Technological Trends in Industrial Cybersecurity
- 5G Implementation
- Artificial Intelligence Deployment
Company Profiles
Key Players
- International Business Machines (IBM) Corporation
- Honeywell International Inc.
- Abb Ltd
- Cisco Systems, Inc.
- Schneider Electric
- Mcafee, LLC (Intel Security)
- Siemens
- Dell Inc.
- Symantec Corporation
- Rockwell Automation, Inc.
- Kaspersky Lab
- Fortinet
- Palo Alto Networks
- Proofpoint
- Fireeye
- Trend Micro
- Splunk
- Broadcom Inc
- Microsoft
Startup Ecosystem
- Securitymatters
- Bayshore Networks, Inc.
- Sentryo
- Cyberx
For more information about this report visit https://www.researchandmarkets.com/r/lna9jd
