According to the research report titled ‘Industrial Control Systems (ICS) Security Market Size By Security Type (Network Security, Application Security, Endpoint Security, Database Security), By Component, By Application (Power and Energy, Critical Manufacturing, Mining, Water Utility, Transportation, Chemical), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020-2026’, available with MarketStudyReport, industrial control systems (ICS) security market is expected to grow significantly during the forecast period 2020-2026.
 

As per the findings of the report, rising number of cyber threats, and growing demand of industrial IoT solutions are majorly driving industrial control systems (ICS) security market.
 

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For the uninitiated, industrial control system is one of the different kinds of control systems that are used for monitoring industrial processes. Moreover, they are utilized in machines across a wide range of businesses for managing, monitoring, and administering applications, from nuclear reactors & utilities, robots, HVAC systems to prison cell doors. These systems ensure that such activities operate smoothly and problems are identified beforehand.
 

Based on security type, the market is fragmented into database security, endpoint security, application security, and network security, out of which, the foremost segment is expected to grow at a strong CAGR of over 20% during the projected period due to an increase in data breach events.
 

In terms of component, global industrial control systems (ICS) industry size from virtualization security sub-segment is anticipated to expand at a robust CAGR of over 25% during the projected timeframe owing to escalating adoption of network virtualization solutions.
 

With respect to end-use, transportation sub-segment is likely to grow at an impressive CAGR of over 25% due to growing demand for connected vehicles across the globe.
 

Based on regional aspect, industrial control systems (ICS) security market size spans across North America (U.S., Canada), Europe (UK, Germany, Spain, France, Italy), Asia Pacific (Japan, China, South Korea, India), and LAMEA (Mexico, Brazil, Argentina, South Africa, GCC).  Of these, LAMEA is likely to represent a market share of over 20% by the end of projected period due to growing requirement of Industrial IoT solutions.
 

Considering the competitive landscape, Honeywell International, Inc., General Electric Company ,Fortinet, Inc., OT Claroty Ltd., Nozomi Networks, Inc., McAfee, LLC, IBM Corporation, Trend Micro, Inc., Accenture plc (Symantec Corporation), SecurityMatters (Forescout Technologies Inc.), Siemens AG, Rockwell Automation, Inc, Raytheon Company, and Rolloos Industries B.V. are among the major companies influencing industrial control systems (ICS) security market trends.