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Global Industrial Cybersecurity Market by Security Type (Network, Endpoint, Application, Cloud, Wireless), Offering (Products and Solutions & Services), End-user (Power, Utilities, Chemicals & Manufacturing), Deployment Type and Region - Forecast to 2028

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    Report

  • 272 Pages
  • September 2023
  • Region: Global
  • Markets and Markets
  • ID: 5146354
Description Jump to:

The industrial cybersecurity market is valued at USD 16.3 billion in 2022 and is projected to reach USD 24.4 billion by 2028, growing at a CAGR of 7.7% from 2023 to 2028. Lack of awareness about best practices and criticality of cybersecurity in industrial control systems is one of the major challenges.

Cloud-based deployment type is projected to grow with highest CAGR during the forecast period

Cloud-based deployment is a type that involves hosting and delivering software applications, services, and data on remote servers provided by a cloud service provider (CSP) over the internet. The organizations working in the industrial cybersecurity market use cloud services to access and manage their computing resources and data remotely instead of running solutions and storing data on local on-premises servers. Some of the characteristics of cloud deployment are remote servers that cloud-based solutions run on servers and infrastructure owned and maintained by a third-party cloud service provider. These servers are distributed across data centers in various geographic locations, help organizations to run globally, and provide data accessibility from anywhere.

In terms of product gateways is expected to have largest market size during the forecast period 

Industrial control gateways play a critical role in industrial infrastructure, linking systems, and sensors that communicate using protocols such as Modbus or serial to IP networks for easier remote management and monitoring. Every industrial network has multiple protocols. It is necessary to translate these protocols between different networks because of their complexity. However, many control devices have critical vulnerabilities that stem from well-known insecure programming practices that could have been easily avoided. In an industrial setting, control information has the highest priority; therefore, the primary role of a gateway is to transfer cyclic I/O data (control information) between two networks. In general, a gateway may offer features such as protocol conversion, impedance matching, rate conversion, fault isolation, or signal translations necessary to ensure interoperability between industrial cybersecurity products.

Chemical & Manufacturing is expected to have second largest CAGR growth during the forecast period

Cyberattacks on chemical and manufacturing plants include random attacks of trojans, worms, and viruses. Standards such as the Chemical Facility Anti-Terrorism Standards (CFATS) and Cybersecurity Evaluation Tool (CSET) have been introduced to secure industrial control systems in these industries from cyber threats. Government initiatives worldwide, such as the formation of the Cybersecurity Information Sharing Partnership (CISP), have made the protection of industrial control systems critical. The chemical & manufacturing industry is constantly attacked by cybercriminals across the world, thereby demanding advanced solutions and services to ensure plant safety. Hence, solutions &^ services are expected to continue to hold the largest market share in the next few years.

India to grow with the highest CAGR in the Asia Pacific region during the forecast period

In India, the power sector is witnessing an increasing demand for cybersecurity systems as operations in this industry are gradually turning digital. The awareness about cybersecurity is increasing due to integrating information technology and the IoT into industrial automation processes. These systems could be hacked and manipulated. However, risks associated with cybersecurity are still high due to the inability of various industries in India to monitor, detect, and eliminate cyber threats. Many multinational companies see India as a potential market for new technologies; this is expected to lead to the growth in cyberattacks in the country.

The break-up of primary participants for the report has been shown below:

  • By Company Type: Tier 1 - 30%, Tier 2 - 38%, and Tier 3 - 32%
  • By Designation: C-level Executives - 44%, Director Level - 38%, and Others - 18%
  • By Region: North America - 30%, Europe - 25%, APAC - 26%, and RoW - 19%

Industrial Cybersecurity Market was dominated by IBM (US), Honeywell International (US), ABB (Switzerland), Schneider Electric (France), Cisco Systems (US), McAfee Corporation (US), Siemens (Germany), Dell Technologies (US), Norton LifeLock (US), Rockwell Automation (US). The other company profiles included in the scope are Kaspersky Lab (Russia), Fortinet (US), Palo Alto Network (US), Proofpoint (US), Trend Micro (Japan), Splunk Technology (US), Broadcom Inc. (US), Microsoft Corporation (US), Opswat (US), Dragos Inc. (US), Upstream Security (Israel), Cylus (Israel), Argus Cyber Security (Israel), Cyberark (US), Forescout Technologies Inc (US).

The report defines, describes, and forecasts the industrial cybersecurity market based on deployment type, security type, offering, end user industry and region. It provides detailed information regarding drivers, restraint, opportunities, and challenges influencing the growth of industrial cybersecurity market. It also analyzes competitive developments such as product launches, acquisition, expansion contract, partnership and action carry out by the key players to grow the market.

Reasons to Buy This Report

The report will help the market leaders/new entrants in the market with information on the closest approximations of the revenue for the overall industrial cybersecurity market and the subsegments. The report will help stakeholders understand the competitive landscape and gain more insight to position their business better and plan suitable go-to-market strategies. The report also helps stakeholders understand the market's pulse and provides information on key drivers, restraint, opportunities, and challenge.

The report will provide insights into the following pointers:

  • Analysis of key drivers (Rising government and private investments to create safe and secure industrial environment), restraints (Lack of Adequate funds , framework and governance required to develop high-end cybersecurity solutions), opportunities (Rising importance of cloud based industrial cybersecurity services), and challenges (Lack of awareness about best practices and criticality of cybersecurity in industrial control systems)
  • Product development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the industrial cybersecurity market.
  • Market Development: Comprehensive information about lucrative markets; the report analyses the industrial cybersecurity market across various regions.
  • Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the industrial cybersecurity market.
  • Competitive Assessment: In-depth assessment of market share, growth strategies, and services, offering of leading players like IBM (US), Honeywell International (US), ABB (Switzerland), Schneider Electric (France), Cisco Systems (US),  among others in industrial cybersecurity market.

Table of Contents

1 Introduction
1.1 Study Objectives
1.2 Market Definition
1.3 Study Scope
1.3.1 Markets Covered
Figure 1 Industrial Cybersecurity Market Segmentation
1.3.2 Regional Scope
1.3.3 General Inclusions and Exclusions
1.3.4 Inclusions and Exclusions at Company Level
1.3.5 Inclusions and Exclusions at Offering Level
1.3.6 Inclusions and Exclusions at End-User Industry Level
1.3.7 Inclusions and Exclusions at Regional Level
1.3.8 Years Considered
1.4 Currency Considered
1.5 Units Considered
1.6 Limitations
1.7 Stakeholders
1.8 Summary of Changes
1.9 Recession Impact

2 Research Methodology
2.1 Research Data
Figure 2 Process Flow: Industrial Cybersecurity Market Size Estimation
Figure 3 Industrial Cybersecurity Market: Research Design
2.1.1 Secondary Data
2.1.1.1 List of Major Secondary Sources
2.1.1.2 Key Data from Secondary Sources
2.1.2 Primary Data
2.1.2.1 Primary Sources
2.1.2.2 Primary Interviews with Experts
2.1.2.3 Breakdown of Primary Interviews
2.1.3 Primary and Secondary Research
2.1.3.1 Key Industry Insights
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.1.1 Approach to Capture Market Size Using Bottom-Up Analysis (Demand Side)
Figure 4 Market Size Estimation Methodology: Bottom-Up Approach
2.2.2 Top-Down Approach
2.2.2.1 Approach to Capture Market Size Using Top-Down Analysis (Supply Side)
Figure 5 Market Size Estimation Methodology: Top-Down Approach
2.3 Market Breakdown and Data Triangulation
Figure 6 Data Triangulation
2.4 Research Assumptions
2.5 Risk Assessment
2.6 Parameters Considered to Analyze Impact of Recession on Industrial Cybersecurity Market

3 Executive Summary
3.1 Recession Impact on Industrial Cybersecurity Market
Figure 7 Recession Impact on Industrial Cybersecurity Market, 2019-2028 (USD Million)
Figure 8 Industrial Cybersecurity Market for Products Offering to Grow at Higher CAGR
Figure 9 Wireless Security Segment to Have Largest Share of Industrial Cybersecurity
Figure 10 Power End-User Industry to Account for Largest Size of Industrial Cybersecurity Market
Figure 11 Asia-Pacific to Grow at Highest CAGR During Forecast Period

4 Premium Insights
4.1 Attractive Opportunities for Players in Industrial Cybersecurity Market
Figure 12 Increasing Government Expenditure to Drive Market Growth During Forecast Period
4.2 Industrial Cybersecurity Market, by End-User Industry and Region, 2022
Figure 13 Power Industry Accounted for Largest Share of Global Industrial Cybersecurity Market
4.3 Industrial Cybersecurity Market, by Offering
Figure 14 Solutions & Services Segment to Account for Larger Share of Industrial Cybersecurity Market
4.4 Industrial Cybersecurity Market, by Security Type
Figure 15 Cloud Security to Grow at Highest CAGR
4.5 Industrial Cybersecurity Market, by Region/Country
Figure 16 India to Have Highest Growth Rate of Industrial Cybersecurity Market

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
Figure 17 Drivers, Restraints, Opportunities, and Challenges in Industrial Cybersecurity Market
5.2.1 Drivers
Figure 18 Industrial Cybersecurity Market Drivers and Their Impact
5.2.1.1 Rising Government and Private Investments to Create Safe and Secure Industrial Environment
Table 1 Government Funding Plans to Ensure Cybersecurity for Critical Infrastructure
5.2.1.2 Growing Number of Sophisticated Cyberattacks on Critical Industrial Infrastructure
Figure 19 History of Cyberattacks on Different Infrastructures
5.2.1.3 Increasing Focus on Integrating IoT into Ics
Figure 20 Global IoT Connections, 2018-2027 (Billion Units)
5.2.2 Restraints
Figure 21 Industrial Cybersecurity Market Restraints and Their Impact
5.2.2.1 Underestimation of Threat Levels and Misunderstanding of Nature of Threats
5.2.2.2 Lack of Adequate Funds, Framework, and Governance Required to Develop High-End Cybersecurity Solutions
5.2.3 Opportunities
Figure 22 Industrial Cybersecurity Market Opportunities and Their Impact
5.2.3.1 Rising Importance of Cloud-Based Industrial Cybersecurity Services
5.2.3.2 Growing Focus of Government Organizations on Releasing Rules and Regulations for Security of Industrial Control Systems
5.2.4 Challenges
Figure 23 Industrial Cybersecurity Market Challenges and Their Impact
5.2.4.1 Lack of Awareness About Best Practices and Criticality of Cybersecurity in Industrial Control Systems
Figure 24 Prominent Attacks on Ics Network
5.3 Pricing Analysis
5.3.1 Average Selling Price (ASP) Trends
Figure 25 Indicative Average Selling Price (ASP), by Product
Table 2 Pricing Analysis of Switches and Routers
5.4 Value Chain Analysis
5.4.1 Industrial Cybersecurity Market
5.5 Porter's Five Forces Analysis
Figure 26 Industrial Cybersecurity: Porter's Five Forces Analysis
Table 3 Porter's Five Forces Impact on Industrial Cybersecurity Market
5.5.1 Threat of New Entrants
5.5.2 Threat of Substitutes
5.5.3 Bargaining Power of Suppliers
5.5.4 Bargaining Power of Buyers
5.5.5 Intensity of Competitive Rivalry
5.6 Key Stakeholders and Buying Criteria
5.6.1 Key Stakeholders in Buying Process
Figure 27 Influence of Stakeholders on Buying Process for Top Three End-User Industries
Table 4 Influence of Stakeholders on Buying Process for Top-Three End-User Industries
5.6.2 Buying Criteria
Figure 28 Key Buying Criteria for Top-Three End-User Industries
Table 5 Key Buying Criteria for Top Three End-User Industries
5.7 Key Conferences and Events (2022-2023)
Table 6 Industrial Cybersecurity Market: Detailed List of Conferences and Events
5.8 Industrial Cybersecurity Market: Ecosystem Analysis
Table 7 Industrial Cybersecurity Market: Ecosystem Analysis
5.9 Patent Analysis
Figure 29 Number of Patents Granted for Industrial Cybersecurity, 2012-2022
Figure 30 Companies with Highest Number of Patent Applications in Last 10 Years
Table 8 Top Patent Owners in Last 10 Years
Table 9 List of Few Patents in Industrial Cybersecurity Market, 2020-2023
5.10 Trade Analysis
Table 10 Import Data for Switching and Routing Apparatus, Hs Code: 851769 (USD Million)
Figure 31 Switching and Routing Apparatus, Import Values for Major Countries, 2016-2020
Table 11 Export Data for Switching and Routing Apparatus, Hs Code: 851769 (USD Million)
Figure 32 Switching and Routing Apparatus, Export Values for Major Countries, 2018-2022
5.11 Tariff and Regulatory Landscape
5.11.1 Regulatory Bodies, Government Agencies, and Other Organizations
Table 12 North America: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 13 Europe: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 14 Asia-Pacific: List of Regulatory Bodies, Government Agencies, and Other Organizations
Table 15 Rest of World: List of Regulatory Bodies, Government Agencies, and Other Organizations
5.12 Case Studies
5.12.1 Power and Water Industries
Table 16 Abb's Cybersecurity Solutions Deployed at Us-Based Wastewater Treatment Plant
5.12.2 Mining Industry
Table 17 Boliden (Sweden) Used Abb's Ability Cybersecurity Fingerprint to Mitigate Risks
5.13 Technological Trends in Industrial Cybersecurity
5.13.1 Zero-Trust Framework
5.13.2 Potential of Artificial Intelligence and Machine Learning
5.13.3 Security for Cloud-Native Environments
5.14 Codes and Standards Related to Industrial Cybersecurity
5.14.1 Trends/Disruptions Impacting Customer Business
Figure 33 Revenue Shift for Industrial Cybersecurity Market
5.14.1.1 Revenue Shift and New Revenue Pockets for Cybersecurity Service Providers

6 Industrial Cybersecurity Market, by Deployment Method
6.1 Introduction
Figure 34 Industrial Cybersecurity Market, by Deployment Type
Table 18 Industrial Cybersecurity Market, by Deployment Type, 2019-2022 (USD Million)
Table 19 Industrial Cybersecurity Market, by Deployment Type, 2023-2028 (USD Million)
6.2 On-Premises
6.2.1 High Level of Control and Customization to Drive Market
6.3 Cloud
6.3.1 Highly Scalability of Cloud Services to Boost Market

7 Industrial Cybersecurity Market, by Security Type
7.1 Introduction
Figure 35 Industrial Cybersecurity Market, by Security Type
Table 20 Industrial Cybersecurity Market, by Security Type, 2019-2022 (USD Million)
Table 21 Industrial Cybersecurity Market, by Security Type, 2023-2028 (USD Million)
Figure 36 Wireless to be Largest Security Type
7.2 Network Security
7.2.1 Exposure of Government Organizations and Production Facilities to Unauthorized Network Access to Trigger Market Growth
Table 22 Network Security: Industrial Cybersecurity Market, by Region, 2019-2022 (USD Million)
Table 23 Network Security: Industrial Cybersecurity Market, by Region, 2023-2028 (USD Million)
Table 24 North America: Industrial Cybersecurity Market for Network Security, by Country, 2019-2022 (USD Million)
Table 25 North America: Industrial Cybersecurity Market for Network Security, by Country, 2023-2028 (USD Million)
Table 26 Europe: Industrial Cybersecurity Market for Network Security, by Country, 2019-2022 (USD Million)
Table 27 Europe: Industrial Cybersecurity Market for Network Security, by Country, 2023-2028 (USD Million)
Table 28 Asia-Pacific: Industrial Cybersecurity Market for Network Security, by Country, 2019-2022 (USD Million)
Table 29 Asia-Pacific: Industrial Cybersecurity Market for Network Security, by Country, 2023-2028 (USD Million)
Table 30 RoW: Industrial Cybersecurity Market for Network Security, by Region, 2019-2022 (USD Million)
Table 31 RoW: Industrial Cybersecurity Market for Network Security, by Region, 2023-2028 (USD Million)
Table 32 Network Security: Industrial Cybersecurity Market, by End-User Industry, 2019-2022 (USD Million)
Table 33 Industrial Cybersecurity Market for Network Security, by End-User Industry, 2023-2028 (USD Million)
7.3 Endpoint Security
7.3.1 Rising Attacks on It and Ot Infrastructure to Boost Demand for Endpoint Security
Table 34 Endpoint Security: Industrial Cybersecurity Market, by Region, 2019-2022 (USD Million)
Table 35 Endpoint Security: Industrial Cybersecurity Market, by Region, 2023-2028 (USD Million)
Table 36 North America: Industrial Cybersecurity Market for Endpoint Security, by Country, 2019-2022 (USD Million)
Table 37 North America: Industrial Cybersecurity Market for Endpoint Security, by Country, 2023-2028 (USD Million)
Table 38 Europe: Industrial Cybersecurity Market for Endpoint Security, by Country, 2019-2022 (USD Million)
Table 39 Europe: Industrial Cybersecurity Market for Endpoint Security, by Country, 2023-2028 (USD Million)
Table 40 Asia-Pacific: Industrial Cybersecurity Market for Endpoint Security, by Country, 2019-2022 (USD Million)
Table 41 Asia-Pacific: Industrial Cybersecurity Market for Endpoint Security, by Country, 2023-2028 (USD Million)
Table 42 RoW: Industrial Cybersecurity Market for Endpoint Security, by Region, 2019-2022 (USD Million)
Table 43 RoW: Industrial Cybersecurity Market for Endpoint Security, by Region, 2023-2028 (USD Million)
Table 44 Endpoint Security: Industrial Cybersecurity Market, by End-User Industry, 2019-2022 (USD Million)
Table 45 Endpoint Security: Industrial Cybersecurity Market, by End-User Industry, 2023-2028 (USD Million)
7.4 Application Security
7.4.1 Greater Presence of Cloud-Connected Networks to Boost Demand
Table 46 Application Security: Industrial Cybersecurity Market, by Region, 2019-2022 (USD Million)
Table 47 Application Security: Industrial Cybersecurity Market, by Region, 2023-2028 (USD Million)
Table 48 North America: Industrial Cybersecurity Market for Application Security, by Country, 2019-2022 (USD Million)
Table 49 North America: Industrial Cybersecurity Market for Application Security, by Country, 2023-2028 (USD Million)
Table 50 Europe: Industrial Cybersecurity Market for Application Security, by Country, 2019-2022 (USD Million)
Table 51 Europe: Industrial Cybersecurity Market for Application Security, by Country, 2023-2028 (USD Million)
Table 52 Asia-Pacific: Industrial Cybersecurity Market for Application Security, by Country, 2019-2022 (USD Million)
Table 53 Asia-Pacific: Industrial Cybersecurity Market for Application Security, by Country, 2023-2028 (USD Million)
Table 54 RoW: Industrial Cybersecurity Market for Application Security, by Region, 2019-2022 (USD Million)
Table 55 RoW: Industrial Cybersecurity Market for Application Security, by Region, 2023-2028 (USD Million)
Table 56 Application Security: Industrial Cybersecurity Market, by End-User Industry, 2019-2022 (USD Million)
Table 57 Application Security: Industrial Cybersecurity Market, by End-User Industry, 2023-2028 (USD Million)
7.5 Cloud Security
7.5.1 Adoption of Saas Applications to Accelerate Need for Cloud Security Solutions
Table 58 Cloud Security: Industrial Cybersecurity Market, by Region, 2019-2022 (USD Million)
Table 59 Cloud Security: Industrial Cybersecurity Market, by Region, 2023-2028 (USD Million)
Table 60 North America: Industrial Cybersecurity Market for Cloud Security, by Country, 2019-2022 (USD Million)
Table 61 North America: Industrial Cybersecurity Market for Cloud Security, by Country, 2023-2028 (USD Million)
Table 62 Europe: Industrial Cybersecurity Market for Cloud Security, by Country, 2019-2022 (USD Million)
Table 63 Europe: Industrial Cybersecurity Market for Cloud Security, by Country, 2023-2028 (USD Million)
Table 64 Asia-Pacific: Industrial Cybersecurity Market for Cloud Security, by Country, 2019-2022 (USD Million)
Table 65 Asia-Pacific: Industrial Cybersecurity Market for Cloud Security, by Country, 2023-2028 (USD Million)
Table 66 Rest of the World: Industrial Cybersecurity Market for Cloud Security, by Region, 2019-2022 (USD Million)
Table 67 Rest of the World: Industrial Cybersecurity Market for Cloud Security, by Region, 2023-2028 (USD Million)
Table 68 Cloud Security: Industrial Cybersecurity Market, by End-User Industry, 2019-2022 (USD Million)
Table 69 Cloud Security: Industrial Cybersecurity Market, by End-User Industry, 2023-2028 (USD Million)
7.6 Wireless Security
7.6.1 Strong Focus on Prevention of Data Theft Across Wireless Networks to Increase Demand
Table 70 Wireless Security: Industrial Cybersecurity Market, by Region, 2019-2022 (USD Million)
Table 71 Wireless Security: Industrial Cybersecurity Market, by Region, 2023-2028 (USD Million)
Table 72 North America: Industrial Cybersecurity Market for Wireless Security, by Country, 2019-2022 (USD Million)
Table 73 North America: Industrial Cybersecurity Market for Wireless Security, by Country, 2023-2028 (USD Million)
Table 74 Europe: Industrial Cybersecurity Market for Wireless Security, by Country, 2019-2022 (USD Million)
Table 75 Europe: Industrial Cybersecurity Market for Wireless Security, by Country, 2023-2028 (USD Million)
Table 76 Asia-Pacific: Industrial Cybersecurity Market for Wireless Security, by Country, 2019-2022 (USD Million)
Table 77 Asia-Pacific: Industrial Cybersecurity Market for Wireless Security, by Country, 2023-2028 (USD Million)
Table 78 Rest of the World: Industrial Cybersecurity Market for Wireless Security, by Region, 2019-2022 (USD Million)
Table 79 Rest of the World: Industrial Cybersecurity Market for Wireless Security, by Region, 2023-2028 (USD Million)
Table 80 Wireless Security: Industrial Cybersecurity Market, by End-User Industry, 2019-2022 (USD Million)
Table 81 Wireless Security: Industrial Cybersecurity Market, by End-User Industry, 2023-2028 (USD Million)
7.7 Others
Table 82 Other Security Types: Industrial Cybersecurity Market, by Region, 2019-2022 (USD Million)
Table 83 Other Security Types: Industrial Cybersecurity Market, by Region, 2023-2028 (USD Million)
Table 84 North America: Industrial Cybersecurity Market for Other Security Types, by Country, 2019-2022 (USD Million)
Table 85 North America: Industrial Cybersecurity Market for Other Security Types, by Country, 2023-2028 (USD Million)
Table 86 Europe: Industrial Cybersecurity Market for Other Security Types, by Country, 2019-2022 (USD Million)
Table 87 Europe: Industrial Cybersecurity Market for Other Security Types, by Country, 2023-2028 (USD Million)
Table 88 Asia-Pacific: Industrial Cybersecurity Market for Other Security Types, by Country, 2019-2022 (USD Million)
Table 89 Asia-Pacific: Industrial Cybersecurity Market for Other Security Types, by Country, 2023-2028 (USD Million)
Table 90 RoW: Industrial Cybersecurity Market for Other Security Types, by Region, 2019-2022 (USD Million)
Table 91 RoW: Industrial Cybersecurity Market for Other Security Types, by Region, 2023-2028 (USD Million)
Table 92 Other Security Types: Industrial Cybersecurity Market, by End-User Industry, 2019-2022 (USD Million)
Table 93 Other Security Types: Industrial Cybersecurity Market, by End-User Industry, 2023-2028 (USD Million)

8 Industrial Cybersecurity Market, by Offering
8.1 Introduction
Figure 37 Industrial Cybersecurity Market, by Offering
Table 94 Industrial Cybersecurity Market, by Offering, 2019-2022 (USD Million)
Table 95 Industrial Cybersecurity Market, by Offering, 2023-2028 (USD Million)
8.2 Products
Table 96 Industrial Cybersecurity Market, by Product, 2019-2022 (USD Million)
Table 97 Industrial Cybersecurity Market, by Product, 2023-2028 (USD Million)
Table 98 Industrial Cybersecurity Market, by Product, 2019-2022 (Thousand Units)
Table 99 Industrial Cybersecurity Market, by Product, 2023-2028 (Thousand Units)
8.2.1 Gateways
8.2.1.1 Prevention of Cyberattacks on Scada Systems to Drive Market
Table 100 Gateways: Industrial Cybersecurity Market, by End-User Industry, 2019-2022 (USD Million)
Table 101 Gateways: Industrial Cybersecurity Market, by End-User Industry, 2023-2028 (USD Million)
8.2.2 Networking Devices
8.2.2.1 Routers
8.2.2.1.1 Replacement of Conventional Routers with Advanced Technology-Based Routers to Boost Demand
Table 102 Networking Devices: Industrial Cybersecurity Market, by Type, 2019-2022 (USD Million)
Table 103 Networking Devices: Industrial Cybersecurity Market, by Type, 2023-2028 (USD Million)
8.2.2.2 Industrial Ethernet Switches
8.2.2.2.1 Industry-Grade Reliability, Network Redundancy, and Enhanced Security to Boost Demand
Table 104 Networking Devices: Industrial Cybersecurity Market, by End-User Industry, 2019-2022 (USD Million)
Table 105 Networking Devices: Industrial Cybersecurity Market, by End-User Industry, 2023-2028 (USD Million)
8.3 Solutions & Services
Table 106 Industrial Cybersecurity Market, by Solution & Service, 2019-2022 (USD Million)
Table 107 Industrial Cybersecurity Market, by Solution & Service, 2023-2028 (USD Million)
Figure 38 Industrial Cybersecurity Market for Services Segment to Grow at Higher CAGR
8.3.1 Solutions
Table 108 Solutions: Industrial Cybersecurity Market, by Solution Type, 2019-2022 (USD Million)
Table 109 Solutions: Industrial Cybersecurity Market, by Solution Type, 2023-2028 (USD Million)
8.3.1.1 Antivirus/Malware
8.3.1.1.1 Antivirus/Malware Segment to Hold Largest Share of Solutions Segment
8.3.1.2 Firewall
8.3.1.2.1 Working Via Vpns to Increase Requirement for Firewall Solutions
8.3.1.2.1.1 Proxy Firewall
8.3.1.2.1.2 Packet-Filtering Firewall
8.3.1.2.1.3 Stateful Inspection Firewall
8.3.1.2.1.4 Next-Generation Firewall (Ngfw)
8.3.1.3 Scada Encryption
8.3.1.3.1 Scada Encryption to Help Mitigate Common Attacks
8.3.1.4 Virtualization Security
8.3.1.4.1 Demand for Virtualization Security to Increase During Forecast Period
8.3.1.5 Data Loss Prevention (Dlp)
8.3.1.5.1 Dlp Solutions to Witness Huge Demand Post-Pandemic
8.3.1.6 Security Information and Event Management (Siem)
8.3.1.6.1 Centralized Combined System to Drive Market
8.3.1.7 Intrusion Detection System/Intrusion Prevention System
8.3.1.7.1 Ids/Ips Technologies to be in Demand to Detect Suspicious Activities
8.3.1.8 Identity and Access Management (Iam)
8.3.1.8.1 Increasing Use for Privacy Protection in Resource-Driven Environments to Boost Demand
Table 110 Solutions: Industrial Cybersecurity Market, by End-User Industry, 2019-2022 (USD Million)
Table 111 Industrial Cybersecurity Market for Solutions, by End-User Industry, 2023-2028 (USD Million)
8.3.1.9 Unified Threat Management (Utm)
8.3.1.9.1 Monitoring and Controlling of Security-Related Applications to Increase Demand
8.3.1.10 Distributed Denial of Service (Ddos)
8.3.1.10.1 Increasing Ddos Attacks to Increase Need for Ddos
8.3.1.11 Others
8.3.1.11.1 Application Whitelisting
8.3.1.11.2 Update and Patch Management
8.3.1.11.3 Database Activity Monitoring (Dam)
8.3.2 Services
Table 112 Services: Industrial Cybersecurity Market, by Service Type, 2019-2022 (USD Million)
Table 113 Services: Industrial Cybersecurity Market, by Service Type, 2023-2028 (USD Million)
8.3.2.1 Managed Services
8.3.2.1.1 Managed Services to Help Companies with Critical Infrastructure Gain Complete Visibility and Control Over Systems That are Part of Network Infrastructure
8.3.2.2 Professional Services
8.3.2.2.1 Rise in Cyberattacks and Strict Government Norms to Increase Demand
Table 114 Professional Services: Industrial Cybersecurity Market, by Professional Service Type, 2019-2022 (USD Million)
Table 115 Professional Services: Industrial Cybersecurity Market, by Professional Service Type, 2023-2028 (USD Million)
8.3.2.2.2 Risk Management Services (Rms)
8.3.2.2.3 Audit and Reporting Services
8.3.2.2.4 Design, Integration, and Consulting Services
Table 116 Services: Industrial Cybersecurity Market, by End-User Industry, 2019-2022 (USD Million)
Table 117 Services: Industrial Cybersecurity Market, by End-User Industry, 2023-2028 (USD Million)

9 Industrial Cybersecurity Market, by End-User Industry
9.1 Introduction
Figure 39 Industrial Cybersecurity Market, by End-User Industry
Table 118 Industrial Cybersecurity Market, by End-User Industry, 2019-2022 (USD Million)
Table 119 Industrial Cybersecurity Market, by End-User Industry, 2023-2028 (USD Million)
Figure 40 Transportation Systems Segment to Exhibit Highest CAGR
9.2 Power
9.2.1 Power Segment to Hold Largest Market Share During Forecast Period
Table 120 Power: Industrial Cybersecurity Market, by Offering, 2019-2022 (USD Million)
Table 121 Power: Industrial Cybersecurity Market, by Offering, 2023-2028 (USD Million)
9.2.1.1 Power Generation Plants
9.2.1.2 Nuclear Power Plants
9.2.1.3 Thermal and Hydropower Plants
9.2.1.4 Renewable Energy Power Plants
Table 122 Power: Industrial Cybersecurity Market, by Product, 2019-2022 (USD Million)
Table 123 Power: Industrial Cybersecurity Market, by Product, 2023-2028 (USD Million)
Table 124 Power: Industrial Cybersecurity Market, by Solution & Service, 2019-2022 (USD Million)
Table 125 Power: Industrial Cybersecurity Market, by Solution & Service, 2023-2028 (USD Million)
9.2.1.5 Power Grids
9.3 Utilities
9.3.1 Rising Cybercrime to Lead to High Demand for Industrial Cybersecurity Solutions
Table 126 Utilities: Industrial Cybersecurity Market, by Offering, 2019-2022 (USD Million)
Table 127 Utilities: Industrial Cybersecurity Market, by Offering, 2023-2028 (USD Million)
9.3.1.1 Oil & Gas Pipelines
9.3.1.2 Electric Power Transmission
Table 128 Utilities: Industrial Cybersecurity Market, by Product, 2019-2022 (USD Million)
Table 129 Utilities: Industrial Cybersecurity Market, by Product, 2023-2028 (USD Million)
Table 130 Utilities: Industrial Cybersecurity Market, by Solution & Service, 2019-2022 (USD Million)
Table 131 Utilities: Industrial Cybersecurity Market, by Solution & Service, 2023-2028 (USD Million)
9.3.1.3 Water Treatment and Distribution
9.3.1.4 Wastewater Collection and Treatment
9.4 Transportation Systems
9.4.1 Transportation Systems to Witness Highest Growth due to Increased Number of Cyberattacks
Table 132 Transportation Systems: Industrial Cybersecurity Market, by Offering, 2019-2022 (USD Million)
Table 133 Transportation: Industrial Cybersecurity Market, by Offering, 2023-2028 (USD Million)
9.4.1.1 Airports
Table 134 Transportation Systems: Industrial Cybersecurity Market, by Product, 2019-2022 (USD Million)
Table 135 Transportation Systems: Industrial Cybersecurity Market, by Product, 2023-2028 (USD Million)
Table 136 Transportation Systems: Industrial Cybersecurity Market, by Solution & Service, 2019-2022 (USD Million)
Table 137 Transportation Systems: Industrial Cybersecurity Market, by Solution & Service, 2023-2028 (USD Million)
9.4.1.2 Seaports
9.4.1.3 Railways
9.4.1.4 Others
9.5 Chemicals & Manufacturing
9.5.1 Urgent Need to Protect Industrial Control Systems to Propel Growth of Market
Table 138 Chemicals & Manufacturing: Industrial Cybersecurity Market, by Offering, 2019-2022 (USD Million)
Table 139 Chemicals & Manufacturing: Industrial Cybersecurity Market, by Offering, 2023-2028 (USD Million)
9.5.1.1 Automated Production Units
Table 140 Chemicals & Manufacturing: Industrial Cybersecurity Market, by Product, 2019-2022 (USD Million)
Table 141 Chemicals & Manufacturing: Industrial Cybersecurity Market, by Product, 2023-2028 (USD Million)
Table 142 Chemicals & Manufacturing: Industrial Cybersecurity Market, by Solution & Service, 2019-2022 (USD Million)
Table 143 Chemicals & Manufacturing: Industrial Cybersecurity Market, by Solution & Service, 2023-2028 (USD Million)
9.5.1.2 Refining Plants
9.5.1.3 Mining Units
9.6 Other End-User Industries
Table 144 Other Industries: Industrial Cybersecurity Market, by Offering, 2019-2022 (USD Million)
Table 145 Other Industries: Industrial Cybersecurity Market, by Offering, 2023-2028 (USD Million)
Table 146 Other Industries: Industrial Cybersecurity Market, by Product, 2019-2022 (USD Million)
Table 147 Other Industries: Industrial Cybersecurity Market, by Product, 2023-2028 (USD Million)
Table 148 Other Industries: Industrial Cybersecurity Market, by Solution & Service, 2019-2022 (USD Million)
Table 149 Other Industries: Industrial Cybersecurity Market, by Solution & Service, 2023-2028 (USD Million)

10 Industrial Cybersecurity Market, by Region
10.1 Introduction
Figure 41 Industrial Cybersecurity Market in India to Grow at Highest CAGR
Table 150 Industrial Cybersecurity Market, by Region, 2019-2022 (USD Million)
Table 151 Industrial Cybersecurity Market, by Region, 2023-2028 (USD Million)
10.2 North America
Figure 42 North America: Industrial Cybersecurity Market Snapshot
Table 152 North America: Industrial Cybersecurity Market, by Security Type, 2019-2022 (USD Million)
Table 153 North America: Industrial Cybersecurity Market, by Security Type, 2023-2028 (USD Million)
Table 154 North America: Industrial Cybersecurity Market, by Country, 2019-2022 (USD Million)
Table 155 North America: Industrial Cybersecurity Market, by Country, 2023-2028 (USD Million)
10.2.1 US
10.2.1.1 Us to Hold Largest Share of Industrial Cybersecurity in North America
Table 156 US: Industrial Cybersecurity Market, by Security Type, 2019-2022 (USD Million)
Table 157 US: Industrial Cybersecurity Market, by Security Type, 2023-2028 (USD Million)
10.2.2 Canada
10.2.2.1 Rising Adoption of Digital Technologies to Drive Demand
Table 158 Canada: Industrial Cybersecurity Market, by Security Type, 2019-2022 (USD Million)
Table 159 Canada: Industrial Cybersecurity Market, by Security Type, 2023-2028 (USD Million)
10.2.3 Mexico
10.2.3.1 Implementation of Wireless Connectivity Devices in Industrial Plants to Drive Market
Table 160 Mexico: Industrial Cybersecurity Market, by Security Type, 2019-2022 (USD Million)
Table 161 Mexico: Industrial Cybersecurity Market, by Security Type, 2023-2028 (USD Million)
10.2.4 Impact of Recession on Industrial Cybersecurity Market in North America
10.3 Europe
Figure 43 Europe: Industrial Cybersecurity Market Snapshot
Table 162 Europe: Industrial Cybersecurity Market, by Security Type, 2019-2022 (USD Million)
Table 163 Europe: Industrial Cybersecurity Market, by Security Type, 2023-2028 (USD Million)
Table 164 Europe: Industrial Cybersecurity Market, by Country, 2019-2022 (USD Million)
Table 165 Europe: Industrial Cybersecurity Market, by Country, 2023-2028 (USD Million)
10.3.1 UK
10.3.1.1 Rising Number of Active Cybersecurity Firms to Create Opportunities for Market Growth
Table 166 UK: Industrial Cybersecurity Market, by Security Type, 2019-2022 (USD Million)
Table 167 UK: Industrial Cybersecurity Market, by Security Type, 2023-2028 (USD Million)
10.3.2 Germany
10.3.2.1 Growing Need to Ensure Data Privacy to Increase Adoption of Industrial Cybersecurity Solutions by Private and Government Organizations
Table 168 Germany: Industrial Cybersecurity Market, by Security Type, 2019-2022 (USD Million)
Table 169 Germany: Industrial Cybersecurity Market, by Security Type, 2023-2028 (USD Million)
10.3.3 France
10.3.3.1 Rising Demand for Data Security Solutions from Defense Sector to Fuel Industrial Cybersecurity Market Growth
Table 170 France: Industrial Cybersecurity Market, by Security Type, 2019-2022 (USD Million)
Table 171 France: Industrial Cybersecurity Market, by Security Type, 2023-2028 (USD Million)
10.3.4 Italy
10.3.4.1 Rising Cybercrime to Increase Demand for Industrial Cybersecurity Solutions
Table 172 Italy: Industrial Cybersecurity Market, by Security Type, 2019-2022 (USD Million)
Table 173 Italy: Industrial Cybersecurity Market, by Security Type, 2023-2028 (USD Million)
10.3.5 Netherlands
10.3.5.1 Growing Number of Digital Attacks to Create Strong Need for Cybersecurity Products
Table 174 Netherlands: Industrial Cybersecurity Market, by Security Type, 2019-2022 (USD Million)
Table 175 Netherlands: Industrial Cybersecurity Market, by Security Type, 2023-2028 (USD Million)
10.3.6 Rest of Europe
Table 176 Rest of Europe: Industrial Cybersecurity Market, by Security Type, 2019-2022 (USD Million)
Table 177 Rest of Europe: Industrial Cybersecurity Market, by Security Type, 2023-2028 (USD Million)
10.3.7 Impact of Recession on Industrial Cybersecurity Market in Europe
10.4 Asia-Pacific
Figure 44 Asia-Pacific: Industrial Cybersecurity Market Snapshot
Table 178 Asia-Pacific: Industrial Cybersecurity Market, by Security Type, 2019-2022 (USD Million)
Table 179 Asia-Pacific: Industrial Cybersecurity Market, by Security Type, 2023-2028 (USD Million)
Table 180 Asia-Pacific: Industrial Cybersecurity Market, by Country, 2019-2022 (USD Million)
Table 181 Asia-Pacific: Industrial Cybersecurity Market, by Country, 2023-2028 (USD Million)
10.4.1 China
10.4.1.1 Rising Implementation of Latest Technologies in Industrial Plants to Boost Demand
Table 182 China: Industrial Cybersecurity Market, by Security Type, 2019-2022 (USD Million)
Table 183 China: Industrial Cybersecurity Market, by Security Type, 2023-2028 (USD Million)
10.4.2 Japan
10.4.2.1 Rising Technological Advancements to Drive Adoption of Industrial Cybersecurity Measures
Table 184 Japan: Industrial Cybersecurity Market, by Security Type, 2019-2022 (USD Million)
Table 185 Japan: Industrial Cybersecurity Market, by Security Type, 2023-2028 (USD Million)
10.4.3 India
10.4.3.1 Rising Crime Rate to Increase Installation of Industrial Cybersecurity Solutions
Table 186 India: Industrial Cybersecurity Market, by Security Type, 2019-2022 (USD Million)
Table 187 India: Industrial Cybersecurity Market, by Security Type, 2023-2028 (USD Million)
10.4.4 South Korea
10.4.4.1 Surging Penetration of Computer Networks to Propel Market
Table 188 South Korea: Industrial Cybersecurity Market, by Security Type, 2019-2022 (USD Million)
Table 189 South Korea: Industrial Cybersecurity Market, by Security Type, 2023-2028 (USD Million)
10.4.5 Rest of Asia-Pacific
Table 190 Rest of Asia-Pacific: Industrial Cybersecurity Market, by Security Type, 2019-2022 (USD Million)
Table 191 Rest of Asia-Pacific: Industrial Cybersecurity Market, by Security Type, 2023-2028 (USD Million)
10.4.6 Impact of Recession on Industrial Cybersecurity Market in Asia-Pacific
10.5 Rest of the World (Row)
Table 192 Rest of the World: Industrial Cybersecurity Market, by Security Type, 2019-2022 (USD Million)
Table 193 Rest of the World: Industrial Cybersecurity Market, by Security Type, 2023-2028 (USD Million)
Table 194 Rest of the World: Industrial Cybersecurity Market, by Region, 2019-2022 (USD Million)
Table 195 Rest of the World: Industrial Cybersecurity Market, by Region, 2023-2028 (USD Million)
10.5.1 Middle East & Africa
Table 196 Middle East & Africa: Industrial Cybersecurity Market, by Security Type, 2019-2022 (USD Million)
Table 197 Middle East & Africa: Industrial Cybersecurity Market, by Security Type, 2023-2028 (USD Million)
10.5.2 South America
Table 198 South America: Industrial Cybersecurity Market, by Security Type, 2019-2022 (USD Million)
Table 199 South America: Industrial Cybersecurity Market, by Security Type, 2023-2028 (USD Million)
10.5.3 Impact of Recession on Industrial Cybersecurity Market in Row

11 Competitive Landscape
11.1 Overview
Table 200 Industrial Cybersecurity Market: Key Growth Strategies Adopted by Companies from 2019 to 2023
11.2 Three-Year Company Revenue Analysis of Top Five Companies
Figure 45 Revenue Analysis of Top Five Players in Industrial Cybersecurity Market, 2020-2022
11.3 Market Share Analysis, 2022
Figure 46 Industrial Cybersecurity Market Share Analysis, 2022
Table 201 Industrial Cybersecurity Market: Intensity of Competitive Rivalry
Table 202 Industrial Cybersecurity Market: Ranking Analysis
11.4 Company Evaluation Matrix
11.4.1 Stars
11.4.2 Emerging Leaders
11.4.3 Pervasive Companies
11.4.4 Participants
Figure 47 Industrial Cybersecurity Market (Global) Company Evaluation Matrix, 2022
11.5 Startup/Sme Evaluation Matrix, 2022
11.5.1 Progressive Companies
11.5.2 Responsive Companies
11.5.3 Dynamic Companies
11.5.4 Starting Blocks
Figure 48 Startups/Sme Evaluation Matrix
11.6 Company Footprint
Table 203 Company Footprint
Table 204 Company Offering Footprint
Table 205 Company End-User Industry Footprint
Table 206 Company Region Footprint
Table 207 Industrial Cybersecurity Market: Detailed List of Key Startup/Smes
Table 208 Industrial Cybersecurity Market: Competitive Benchmarking of Key Players [Startups/Smes]
11.7 Competitive Scenario and Trends
11.7.1 Industrial Cybersecurity
11.7.1.1 Product Launches and Developments
Table 209 Industrial Cybersecurity Market: Product Launches and Developments, August 2018-January 2022
11.7.1.2 Deals
Table 210 Industrial Cybersecurity Market: Deals, 2021-July 2023
11.7.1.3 Others
Table 211 Industrial Cybersecurity Market: Other Developments, 2021

12 Company Profiles
(Business Overview, Products/Solutions/Services Offered, Recent Developments & Analyst's View)*
12.1 Key Players
12.1.1 IBM Corporation
Table 212 IBM Corporation: Business Overview
Figure 49 IBM Corporation: Company Snapshot
Table 213 IBM Corporation: Products and Solutions Offered
Table 214 IBM Corporation: Product Launches
Table 215 IBM Corporation: Deals
Table 216 IBM Corporation: Others
12.1.2 Honeywell International Inc.
Table 217 Honeywell International Inc.: Business Overview
Figure 50 Honeywell International Inc.: Company Snapshot
Table 218 Honeywell International Inc.: Products Offered
Table 219 Honeywell International Inc.: Solutions Offered
Table 220 Honeywell International Inc.: Services Offered
Table 221 Honeywell International Inc.: Product Launches
Table 222 Honeywell International Inc.: Deals
12.1.3 Abb Ltd.
Table 223 Abb Ltd.: Business Overview
Figure 51 Abb Ltd.: Company Snapshot
Table 224 Abb Ltd.: Products Offered
Table 225 Abb Ltd.: Product Launches
Table 226 Abb Ltd.: Deals
12.1.4 Cisco Systems, Inc.
Table 227 Cisco Systems, Inc.: Business Overview
Figure 52 Cisco Systems, Inc.: Company Snapshot
Table 228 Cisco Systems, Inc.: Products Offered
Table 229 Cisco Systems, Inc.: Services Offered
Table 230 Cisco Systems, Inc.: Product Launches
Table 231 Cisco Systems, Inc.: Deals
12.1.5 Schneider Electric
Table 232 Schneider Electric: Business Overview
Figure 53 Schneider Electric: Company Snapshot
Table 233 Schneider Electric: Products Offered
Table 234 Schneider Electric: Deals
12.1.6 Mcafee Corporation
Table 235 Mcafee Corporation: Business Overview
Table 236 Mcafee Corporation: Products Offered
Table 237 Mcafee Corporation: Product Launches
Table 238 Mcafee Corporation: Deals
12.1.7 Siemens
Table 239 Siemens: Business Overview
Figure 54 Siemens: Company Snapshot
Table 240 Siemens: Products Offered
Table 241 Siemens: Product Launches
Table 242 Siemens: Deals
12.1.8 Dell Technologies
Table 243 Dell Technologies.: Business Overview
Figure 55 Dell Technologies.: Company Snapshot
Table 244 Dell Technologies: Products Offered
Table 245 Dell Technologies: Deals
12.1.9 Nortonlifelock Inc.
Table 246 Nortonlifelock Inc.: Business Overview
Table 247 Nortonlifelock Inc.: Products Offered
Table 248 Nortonlifelock Inc.: Deals
12.1.10 Rockwell Automation Inc.
Table 249 Rockwell Automation Inc.: Business Overview
Figure 56 Rockwell Automation Inc.: Company Snapshot
Table 250 Rockwell Automation Inc.: Products Offered
Table 251 Rockwell Automation Inc.: Deals
*Details on Business Overview, Products/Solutions/Services Offered, Recent Developments & Analyst's View Might Not be Captured in Case of Unlisted Companies.
12.2 Other Players
12.2.1 Kaspersky Lab
12.2.2 Fortinet
12.2.3 Palo Alto Networks
12.2.4 Proofpoint
12.2.5 Trend Micro
12.2.6 Splunk Technology
12.2.7 Broadcom Inc.
12.2.8 Microsoft Corporation
12.2.9 Forescout Technologies Inc.
12.2.10 Opswat
12.2.11 Dragos Inc.
12.2.12 Cyberark
12.2.13 Argus Cyber Security
12.2.14 Cylus
12.2.15 Upstream Security

13 Appendix
13.1 Discussion Guide
13.2 Knowledgestore: The Subscription Portal
13.3 Customization Options

Executive Summary

Companies Mentioned

  • Abb Ltd.
  • Argus Cyber Security
  • Broadcom Inc.
  • Cisco Systems, Inc.
  • Cyberark
  • Cylus
  • Dell Technologies
  • Dragos Inc.
  • Forescout Technologies Inc.
  • Fortinet
  • Honeywell International Inc.
  • IBM Corporation
  • Kaspersky Lab
  • Mcafee Corporation
  • Microsoft Corporation
  • Nortonlifelock Inc.
  • Opswat
  • Palo Alto Networks
  • Proofpoint
  • Rockwell Automation Inc.
  • Schneider Electric
  • Siemens
  • Splunk Technology
  • Trend Micro
  • Upstream Security

Table Information

Report AttributeDetails
No. of Pages272
PublishedSeptember 2023
Forecast Period2023 - 2028
Estimated Market Value ( USD ) in 2023 $ 16.3 Billion
Forecasted Market Value ( USD ) by 2028 $ 24.4 Billion
Compound Annual Growth Rate7.7%
Regions CoveredGlobal
No. of Companies Mentioned25

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About the Market

The Industrial Cybersecurity market is a subset of the IT Security market that focuses on protecting industrial control systems (ICS) from cyber threats. ICS are used to monitor and control physical processes in industrial environments, such as manufacturing, energy, and transportation. Industrial Cybersecurity solutions provide protection against malicious actors, unauthorized access, and malicious code. These solutions also help organizations comply with industry regulations and standards. Industrial Cybersecurity solutions include network security, endpoint security, identity and access management, and security analytics. These solutions are designed to detect and respond to cyber threats in real-time, as well as provide visibility into the security posture of ICS. Companies in the Industrial Cybersecurity market include Siemens, Rockwell Automation, Honeywell, ABB, Kaspersky, McAfee, IBM, and FireEye. Show Less Read more

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