ARC Advisory Group’s research on the Industrial Cybersecurity Services market indicates strong growth and numerous opportunities over the next five years. Digital transformation initiatives are reshaping the industrial control landscape and redefining industrial/OT cybersecurity. The future of control systems includes cloud applications and connectivity with numerous mobile and IoT devices. This will make it more difficult to assess cyber risks, evaluate alerts, and respond to security incidents, further increasing the demand for cybersecurity managed services. IT cybersecurity experts will need to become more involved in managing this evolution, favoring providers with converged IT/OT cybersecurity teams.
"Cyberattack surfaces have expanded significantly, and threats have become more sophisticated. Maintaining defenses has never been more important—or challenging—for industrial plants. The need for rapid detection and response has likewise grown, as it has become the primary defense against sophisticated attacks. Addressing these challenges requires more cybersecurity personnel and expertise. The industrial/OT cybersecurity services market is evolving. More control system integrators are offering cybersecurity services. Large IT service providers are partnering with or acquiring smaller ICS service providers to establish a foothold in the OT security market and meet growing demand for integrated IT/OT support from large industrial clients. ARC expects that these developments will reshape market roles and drive broader adoption of industrial/OT cybersecurity services," according to Sid Snitkin, Vice President and key author of ARC's Industrial Cybersecurity Services Market Research.
Industrial Cybersecurity Services Market Trends
The Industrial Cybersecurity Services research addresses key market trends as follows:
- Managed Services: While managed services represent the smallest market segment, they offer the highest growth opportunities. Increasingly, companies find that internal staff cannot maintain their defenses and are seeking external support. This applies to both older legacy systems and newer systems, making the market opportunity broad. Assessments that highlight weaknesses in a company’s cybersecurity personnel and processes also drive demand for managed services. It is often faster and more cost-effective to fill gaps using third parties than by adding internal resources. Managed service needs vary significantly and favor service providers that offer a range of support options.
- Design and Implementation Services: Several factors drive the demand for design and implementation services. In some cases, companies act directly on assessment recommendations and need support to implement defensive technologies within existing systems. While cybersecurity alone is generally not enough to drive control system replacements, addressing security gaps is often one justification for many replacement decisions. All new systems include some level of cybersecurity technology, which must be planned and configured by knowledgeable personnel.
- Assessment Services: Assessment services, the largest cybersecurity service category, serves as the engine that drives the overall market. In industries such as power, companies may be compelled to periodically evaluate and report on their cybersecurity status. In less-regulated industries, boards of directors remain concerned with cyber risks and expect management to advise them on the company’s cybersecurity program relative to their competitors. Assessments against standards and industry guidelines provide this kind of information.
Leading Suppliers to the Industrial Cybersecurity Services Market Identified
In addition to providing specific market data and industry trends, this ARC market research also identifies and positions the leading suppliers to this market and provides and summarizes their relevant offerings. An alphabetical list of key suppliers covered in this analysis includes: ABB, Accenture, Cisco, GE Vernova, Yokogawa.
About the Industrial Cybersecurity Services Research
The Industrial Cybersecurity Services research explores the current and future market performance and related technology and business trends and identifies leading technology suppliers. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modelling techniques. The research includes five-year market forecasts and three years of historical analysis. The research segmentation includes World Region, Industry, Application.
This new research is available in a variety of formats to meet the specific research and budgetary requirements of a wide variety of organizations. ARC's Market Data Service (MDS) is an annual subscription service that provides a unique online environment to each customer, together with all the necessary user interface apps and datasets. MDS unlocks the full benefits of ARC’s time-tested market intelligence by leveraging the latest analytical tools and technologies to allow you to make more actionable, real-time business decisions. Interactive access to ARC’s qualitative analysis is displayed in context with up-to-date market data, allowing clients to develop customized views of the market to best suit their needs. ARC continues to offer our traditional static Market Reports as a PDF.
ARC provides several types of market data services. The most common are Market Growth Outlook and Competitive Analysis Services. These services provide detailed market analysis of a single or multiple products or software applications. Please visit Market Data Services page for more details on these services.