Operational Technology Security Market Overview
The Global Operational Technology Security Market is estimated to be worth USD 63.9 Billion by 2030, registering an 18.1% CAGR during the forecast period (2022- 2030).
Operational Technology or OT refers to a combination of hardware and software utilized to control and monitor devices, physical processes, and infrastructure. Operational Technology develops and congregates with network Information Technology and the desire for OT security enhances accordingly. Operational technology can be found in many asset-intensive sectors, performing an extensive range of tasks from operating robots on the manufacturing site to monitoring vital infrastructure. Numerous industries are embracing operational technology solutions such as power generation electrical, manufacturing, transportation logistics, mining, and others.
Among industries, the power generation and electrical segment are projected to hold a dominant position in the worldwide operational technology security market during the forecast period. The advantage of operational technology is that it supports the convergence of its infrastructure with the IT network and results in enhanced operational efficiency. The lightning pace of industrialization and amalgamation of automation to mitigate the burden on production assemblies has also created various opportunities in the operational technology security market. Thus, the boosting investments in embracing IIOT solutions are expected to provide lucrative opportunities for the players operating in the worldwide operational technology security market during the forecast period.
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Operational Technology (OT) security is the measures and controls in place to protect OT systems, which use purpose-built software to control and monitor physical devices, processes, and events in industrial environments. This includes protecting system availability, integrity, confidentiality, and safety, as well as protecting against malicious actors who may attempt to manipulate or disrupt the system. OT security measures may include asset management, network segmentation, security policies and procedures, user authentication and authorization, application whitelisting, patch management, network monitoring, and incident response. OT security is becoming increasingly important as more and more devices become interconnected and the threat of cyber-attacks increases.
The Global Operational Technology Security Market report provides an integrated evaluation of the market. The report provides a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a significant role in the market.
Regional Analysis
The Global Operational Technology Security Market is divided into five regions; North America, Asia Pacific, Europe, Latin America, and the Middle East Africa.
North America is projected to account for the largest market share in the worldwide operational technology security market. Regulatory compliances are adopted by numerous governments to protect data from cyber threats and this is surging the adoption of operational technology (OT) security solutions.
The operational technology security market in Europe is anticipated to stand as the second-largest throughout the forecast period.
Asia-Pacific is projected to have significant growth in the operational technology security market. Organizations are continuously concentrating on their systems' coercion revelations and liability and the growing requirement to unite prevention operations and identify the risks. These factors propel the market to grow further. China, India, and Japan have the ultimate share of the market.
Latin America and the Middle East and African regions are expected to have steady growth in the operational technology security market.
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Market Segmentation
The Global Operational Technology Security Market is segmented into the following types;
By Component:
- Solution:
- OT Endpoint Security
- OT Network Segmentation
- Anomaly Detection, Incident Response And Reporting
- Others
Services:
- Professional
- Managed
By Deployment:
- On-Premise
- Cloud
- Hybrid
By End-Use Industry:
- Power Electrical
- Mining
- Transportation
- Manufacturing
- Discrete
- Process
- Others
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Key Players:
The Global Operational Technology Security Market’s prominent key players are HCL, Vmware Inc., Honeywell International Inc., Schneider Electric, Cisco Systems Inc., Broadcom, Kaspersky Lab, General Electric, Rockwell Automation Inc., PAS Global Inc. (Hexagon AB), Fortinet Inc., Palo Alto Networks, Darktrace, Forescout Technologies Inc., Nozomi Networks and SCADAfence.
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