ICS Security Market to grow at 20% CAGR from 2018 to 2024 Industrial Control Systems (ICS) Security Market | Page 2

The firewall segment dominated the market in 2017 and is expected to secure a
significant share of the overall ICS security market by 2024 due to an extensive
adoption of ruggedized firewalls for maintaining and managing network traffic in
industrial infrastructure operating in harsh environmental conditions. Firewalls play a
critical role in containing internal cyber incidents and blocking external threats that
could heavily impact productivity, safety, and reliability. They manage the flow of
communication and examine the data packets to ensure blocking of harmful network
traffic. Hence, the adoption of firewalls for ICS security is likely to increase
consistently over the forecast timeline.
The energy sector held a major share of nearly 40% in the ICS security market in
2017 and is expected to maintain this market dominance throughout the forecast
period. The increasing incidents of cyber-attacks on the energy industry including
gas pipeline infrastructure, oil & gas platforms, and power utility infrastructure are
majorly contributing to the growing emphasis on securing critical energy production
and distribution networks. Government agencies are taking appropriate measures to
secure critical national energy infrastructure from terrorist attacks that could lead to a
major economic loss.
North America held around 50% share of the ICS security market in 2017 and is
projected to hold a significant share of the overall market between 2018 and 2024.
With the availability of extensive industry standards, regulatory guidelines, and
government initiatives in the U.S., the adoption of ICS security solutions is expected
to grow in a structured manner across different industry verticals such as energy,
advanced manufacturing, mining, and transportation. The National Cybersecurity
and Communications Integration Center (NCCIC) under the U.S. Department of
Homeland Security continuously strives to reduce the risk of cybersecurity
challenges to the critical national infrastructure.
North America Industrial Control Systems (ICS) Security Market Size, By
Security Type, 2017 & 2024 (USD Million)
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