Market Insight

REPORT HIGHLIGHTS - Cumulative $2.4 Billion to Be Spent on ICS and IoT Security over Next Five Years

December 23, 2015

Jeff Wilson Jeff Wilson Research Director and Advisor, Cybersecurity Technology

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Over the 5 years from 2014 to 2019, IHS (NYSE: IHS) is projecting a cumulative $2.43 billion will be spent by companies on distributed firewalls that protect supervisory control and data acquisition (SCADA), industrial control system (ICS) and Internet of Things (IoT) environments. The industries expected to have the most dramatic impact on the market include oil, gas, utilities, nuclear, critical manufacturing, medical, transportation and public safety.

“There are hundreds of millions of network-connected control devices in operation in industrial environments—things like fan controllers, valves and pumps, railroad track switches, medical instruments and devices, and sensors. Control system security solutions provide a wide range of functions to protect these devices, including device authentication, encryption, traffic analysis, event reporting, out-of-band threat detection, in-line threat mitigation and vulnerability assessment,” said Jeff Wilson, senior research director for cybersecurity technology at IHS.  

“US oil, gas and utility companies are the first target markets for vendors building solutions in this space, but attacks on critical infrastructure can happen anywhere, and once the international standards and regulations under development at the IEC are available and enforceable, we expect to see growth around the globe,” Wilson said.

INDUSTRIAL CONTROL SYSTEM AND IOT SECURITY MARKET HIGHLIGHTS

  • The industrial control system and Internet of Things security market (distributed firewalls) is expected to reach $200 million in 2015
  • North America has the early lead in ICS and IoT security, accounting for 60 percent of global revenue presently
  • Based on the number of devices they’re protecting, the size of the devices currently being deployed is fairly small; a typical distributed firewall in an industrial application protects 100 or fewer end devices

ANALYST CONFERENCE CALL

Clients: Log in to view on-demand Jeff Wilson’s IoT and ICS security market recap and outlook: www.infonetics.com/cgp/login.asp?id=1052.

IOT / ICS SECURITY REPORT SYNOPSIS

The 2015 IHS Infonetics IoT and Industrial Control System Security report provides worldwide and regional market size, forecasts through 2019, analysis and trends for Internet of Things (IoT) and industrial control system (ICS) distributed firewalls. Vendors named in the report: Check Point, Cisco, Fortinet, GE, IBM, McAfee, Palo Alto Networks, Rockwell, Secure Crossing, Siemens, Sophos, Tofino (Belden), Wurldtech (GE), others. Going forward, this report will be folded into the Industrial Cyber Security report. 

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Geography
Global
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