January 28, 2021
According to the research report titled ‘Asia-Pacific Industrial Control System Security Market Analysis, 2020‘, available with Market Study Report LLC, Asia-Pacific industrial control system security market is likely to register 6% CAGR during 2021-2026
Rising cases of cyberattacks on ICS systems and increasing need for compliance with various upcoming regulations are the major factors fueling the growth of Asia-Pacific industrial control system security market. Also, wide applications of the system in power generation, transmission, and distribution sectors is contributing to the industry growth.
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Further, the developments in smart grid projects is increasing the scope of SCADA systems across various developing nations such as in India, China, positively impacting the Asia-Pacific industrial control system security market outlook.
Rising prevalence of Covid-19 has encouraged the adoption of BYOD among several governments, promoted the work from home trend, fueled IIoT utilization, and widespread use of internet across critical industry verticals such as oil and gas, power grids, and manufacturing, thereby accelerating Asia-Pacific industrial control system security market growth.
Based on type of security, Asia-Pacific industrial control system security industry is segmented into content & database, end point, application, security analytics, and network. Among these, the network security segment captured significant industry share in 2020 and is expected to witness substantial gains in coming years owing to its rising industrial applications for protecting integrity and improving usability of the data and network. Moreover, efforts taken by governments for formulating crucial laws in order to reduce the cybercrimes are fueling the industry growth.
Major players influencing Asia-Pacific industrial control system security market trends are ABB Group (formerly known as ASEA Brown Boveri), Honeywell International Inc., Check Point Software Technologies, FireEye, Sophos Group plc, BAE Systems plc, Intel (including MacAfee), Kaspersky Lab, Cisco Systems, Inc., Palo Alto Networks, Inc., Symantec, Belden Inc., Waterfall Security, and Fortinet.