Press Release

Asia-Pacific Industrial Control System Security Market to Record a CAGR of 8.8% During 2024-30

The Asia-Pacific Industrial Control System Security Market is projected to grow at a CAGR of 8.8% during the forecast period of 2024-30, cites MarkNtel Advisors in the recent research report. The Asia-Pacific region has appeared as a central point for cyber threats, with industrial control systems (ICS) normally targeted due to their key role in national security & economic stability. The rise in the frequency & complexity of cyberattacks has been accredited to progressions in technology and the growing interconnection of industrial networks.

Notably, various Asian countries are known for their robust industrial infrastructure and have encountered numerous instances of cyber intrusions aimed at disrupting critical operations. These incidents underscore the urgent imperative for robust ICS security measures to safeguard essential services like electricity, water supply, and transportation from incapacitating cyber threats.

Additionally, the nations of APAC have enacted specific cybersecurity legislation that mandates enterprises to implement enhanced security measures and undergo regular audits within their infrastructure. Along with this, the governing bodies have also introduced initiatives & programs aimed at mitigating data breach risk across industrial sectors, by opting the adequate security solutions. This, in turn, is facilitating the adoption of these security solutions, enlarging the market size.

Furthermore, the call for strengthened ICS security is further augmented by hefty investments in smart technologies & significant government support. As sectors like oil & gas, nuclear power, and power transmission advance toward higher levels of automation & connectivity, the significance of ICS security intensifies. These security measures are essential not only in preventing potential economic setbacks and operational interruptions but also in maintaining safety. Hence, the demand for ICS security solutions is anticipated to amplify in the coming years as well, further states the research report, “Asia-Pacific Industrial Control System Security Market Analysis, 2024.”

Asia-Pacific Industrial Control System Security Market Segmentation Analysis

Network Security to Lead the Asia-Pacific Industrial Control System Security Market

Based on the type of security segment, the market is further bifurcated into End Point, Network, Application, Content & Database, and Security Analytics. Of them, Network Security holds a significant market share due to the growing complexity & frequency of cyber threats targeting network infrastructures within industries. The extensive usage & application of IoT devices and cloud technologies in industrial premises is elevating the risks of data infringement. This, in turn, is making it necessary for organizations to secure the endpoints and data flows by integrating network security solutions. Consequently, their demand has witnessed notable growth among end-users across the Asia-Pacific region in recent years.

Additionally, the strategic significance of network security is amplified by regulatory pressures and compliance requirements imposed on companies in the Asia-Pacific region. Also, official governing authorities are increasingly enforcing stringent guidelines to enhance the cybersecurity framework surrounding critical infrastructures. As a result, the demand for sophisticated network security solutions is projected to surge further in the forthcoming years.

Transport Infrastructure to Experience Substantial Growth in the Market

Based on end users, the market is further segmented into Manufacturing, Power & Utilities, & Transport Infrastructure. Among these, the Transport Infrastructure sector is undergoing a profound transformation as it integrates industrial control systems (ICS) into its operations, aligning with the market trend towards automation & digitization. This shift signifies a pivotal transition from traditional manual labor to more technology-enhanced practices, leading to significant advancements in efficiency and operational capabilities.

Further, initiatives laid by the administrative bodies in the APAC to promote the integration of Industry 4.0 have spurred ambitious projects to modernize transport sectors. Moreover, market players like Tesla & BMW are actively adopting advanced solutions in their manufacturing facilities to enhance production capabilities through the increased reliance on automated systems to drive operational efficiencies. Consequently, as technological advancements in the transport infrastructure sector continue to evolve, the need for ICS security solutions is expected to rise in the coming years.

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including ABB, Honeywell, Cisco, Intel, Check Point, Symantec, Spohos, Schneider Electric, Kaspersky, BAE System, Palo Alto, Waterfall, Fortinet, Belden, Juniper Networks, Inc., etc. are looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Market Size- By Value, Forecast Numbers, Segmentation, Market Shares)?
2. What are the market trends influencing the current scenario of the Asia-Pacific Industrial Control System Security Market?
3. What key factors would propel and impede the industry across the region?
4. How has the industry been evolving in terms of geography & solution adoption?
5. How has the competition been shaping across the various countries?
6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?