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The Global Operational Technology (OT) Security Market size is valued at USD 19.84 billion in 2023 and is projected to reach USD 58.45 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 14.93% during the forecast period, i.e., 2024-30.
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Key Findings of the Study: Operational Technology (OT) Security Market
Global Operational Technology (OT) Security Market Driver: Rising Cybersecurity Threats Amplifying the Demand for OT Security Solutions
Over the past few years, several industries have transitioned towards digital platforms and started providing online services. As per the statistics by the GoDaddy Data Observatory, in 2023, more than 55% of the smaller businesses and around 71% of the larger enterprises have started using online platforms to provide services to consumers. These companies store the information related to the finances & the customers in their cloud servers. However, with the evolution of technology, the number of cyberattack incidents has also increased. Based on the statistics by IBM, a tech-based company, data breaches across the globe rose by 72% during 2021-2023, compromising the critical information of the organizations as well as customers. Therefore, to ensure the safety of the data, enterprises are increasingly adopting these security solutions, amplifying the market growth.
Also, the official governing bodies across the globe are recognizing the importance of data security & privacy. Therefore, the authorities are laying regulations that are mandating organizations to integrate security solutions within their digital ecosystems. Thus, compliance with these safety standards will continue to boost the requirement for OT security solutions in the coming years.
Scope of the Report and Operational Technology (OT) Security Market Segmentation
By Offering
-Solutions
--Security Information & Event Management (SIEM)
--Asset Management
--Network Segmentation & Isolation
--Access Control & Identity Management
--Vulnerability Management
--Incident Response & Management
--Data Protection & Encryption
--Others
-Services
--Managed Security Services
--Consulting & Advisory Services
--Training & Education
--Consulting Services
--Integration Services
--Support & Maintenance
- Asset Management Solutions have gained a noticeable market share in the Global Operational Technology (OT) Security market over the past few years.
By Deployment
-Cloud
-On-Premise
By Enterprise Size
-Large Enterprises
-Small & Medium Enterprises
By End Users
-Energy & Utilities
-Oil & Gas
-Manufacturing
-Transportation and Logistics
-Mining
-Healthcare
-Others (Building & Construction, Military, etc.)
Top leading companies in the Operational Technology (OT) Security Market includes:
Fortinet, Inc., AO Kaspersky Lab, Cisco Systems, Inc., Forcepoint, Thales, Palo Alto Networks, Broadcom, Rockwell Automation, Forescout, Honeywell International Inc., Darktrace Holdings Limited, Microsoft, Nozomi Networks, International Business Machines Corp., Qualys, Inc.
Operational Technology (OT) Security Market Development
- 2024: Thales collaborated with Tenable to enhance their IT & operational technology security solutions. This partnership ensures comprehensive visibility into assets, effective risk assessment, and streamlined collaboration between IT and OT teams, crucial for protecting against diverse and evolving threats.
- 2023: Fortinet Inc. announced the launch of new & integrated operation technology security solutions, which would provide integrated protection and risk management which would be specific to different industrial environments.
For more detailed information about the Operational Technology (OT) Security market report, click here – https://www.marknteladvisors.com/research-library/operational-technology-security-market.html
Geographical analysis:
North America: US, Canada, Mexico
Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
Asia-Pacific: Japan, South Korea, China, India, Australia, Rest of Asia-Pacific
South America: Brazil, Rest of South America
Middle East & Africa: The UAE, Saudi Arabia, Qatar, Egypt, South Africa, Rest of the Middle East & Africa
- North America has been dominating the market over the historical years.
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