Industrial Control Systems Market Growth Accelerated By Rising Adoption Of Security Solutions

INDUSTRIAL CONTROL SYSTEMS (ICS) MARKET
Industrial Control Systems (ICS) Market 



Industrial control systems (ICS), also known as industrial control and automation systems, refer to systems used to monitor and control industrial processes in various industries like manufacturing, transportation, power generation, and utilities. ICS help improve efficiency, reduce costs, and ensure safety. ICS offer advantages like remote monitoring and control of industrial processes, data logging for regulatory compliance, and integration of operations technology with IT systems.

The global Industrial Control Systems (ICS) Market is estimated to be valued at Us$ 161141.22 Bn in 2024 and is expected to exhibit a CAGR Of 9.6% over the forecast period 2024 To 2031, as highlighted in a new report published by Coherent Market Insights.

Market key trends:


The rising adoption of cyber security solutions is one of the major trends driving the growth of the ICS market. Critical infrastructure organizations are increasingly facing cyber threats owing to the connectivity of critical process control systems with open networks. As a result, industrial firms are investing significantly in advanced security solutions like anti-virus/malware, firewalls, virtual private networks (VPNs), intrusion detection/prevention systems etc. to protect their control systems from cyber-attacks. For instance, Norwegian multinational energy company, Equinor invested over $60 million in 2019-2020 for securing its industrial control systems with advanced security technologies. Growing expenditures on cybersecurity technologies by organizations will continue to accelerate the demand for ICS over the forecast period.

Segment Analysis


The global industrial control systems (ICS) market is dominated by the distributed control systems (DCS) sub segment. DCS finds wide application in industries including oil & gas, chemicals, power generation, and others due to its ability to control entire plants or factories. DCS aid in monitoring, controlling, and operating entire production processes or machinery and facilitate centralized and coordinated control over hybrid systems.

Key Takeaways


The Global Industrial Control Systems (ICS) Market Demand is expected to witness high growth over the forecast period of 2024 to 2031 supported by increasing demand for automation across industries and need for remote monitoring capabilities.

Regional analysis:

North America dominates the global ICS market currently owing to presence of major industry players and early adoption across industries in the region. Asia Pacific is expected to witness the fastest growth led by countries like India and China on account rapid industrialization. Increasing investments toward development of smart infrastructure and adoption across industries like manufacturing, utilities will further aid regional market growth over the coming years.

Key players operating in the industrial control systems (ICS) market are 3M Company, nThrive (Precyse Solutions LLC), Talix, Oracle Corporation, Optum Inc., Nuance Communications Inc., Dolbey Systems Inc., Aviacode Inc., MRA Health Information Services, The Coding Network, L.L.C, and Maxim Health Information Services, among others.

Get more insights on this topic :

https://www.insightprobing.com/the-increasing-adoption-of-iot-is-driving-the-growth-of-the-industrial-control-systems-market/

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