US, China, and Germany are the Leading Countries for the Operational Technology Security Market By 2025 (SARS-CoV-2, Covid-19 Analysis)

Market News-Flash

Operational Technology Security Market

The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Operational Technology Security Market. The growth sectors of the Operational Technology Security Market are identified with precision for a better growth perspective.

The global operational technology (OT) security market was valued at USD 200.0 million in 2018 and is presumed to exhibit a CAGR of 42.2% during the forecast period to reach USD 3,531.0 million by 2025. The geographical analysis of the global operational technology (OT) security market has been done for North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.

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North America accounted for the largest market share in the OT security market; this growth can be attributed to the presence of tier I vendors and early adoption of security solutions associated with highly skilled expertise. Additionally, the US is expected to dominate the market owing to the need for OT security solutions due to the increasing number of cyberattacks, and adoption of Industrial Internet of Things (IIoT) technology.

Europe accounted for the second spot in the global OT security market in terms of market size. The European market has been divided into the UK, Italy, Spain, Germany, France, and the rest of Europe. Germany accounted for the largest market share in 2018 and is expected to continue to dominate the European market; growth here can be attributed to an increase in demand from automotive companies. Whereas, the UK is expected to exhibit the highest CAGR during the forecast period. The market growth of the European market is due to the adoption of smart factories, connected ecosystems, and increase in access to data in hybrid cloud environments.

The market in Asia-Pacific is expected to be the fastest-growing from 2019 to 2025. The regional market has been classified as China, Japan, India, Australia, South Korea, Singapore, and the rest of Asia-Pacific. China accounted for the largest market share in 2018 and is expected to continue to dominate the Asia-Pacific market due to the increasing demand from discrete manufacturing companies. However, Japan is expected to exhibit the highest CAGR during the forecast period.

The Middle East and Africa region is expected to be the fastest-growing in the OT security market during the assessment period. The market growth can be attributed to large-scale adoption of ICS security solutions in oil and gas industries for protecting the network infrastructure, applications, and other critical infrastructure. However, lack of technical expertise, interoperability issues, and dependence on legacy systems likely to hinder the Middle East and Africa and South America OT security market.

Market Highlights

The global OT security market has been segmented based on component, deployment mode, industry, and region.

Based on component, the global OT security market has been bifurcated into solutions and services. The solution segment accounted for the larger market share in 2018 whereas, the services segment is expected to exhibit the higher CAGR. The solution segment has been further categorized into OT network segmentation, OT endpoint security, and anomaly detection, incident response and reporting segments. Additionally, the services segment has been sub-divided into professional services and managed services. The professional services segment has been categorized into consulting services, deployment and implementation services, and other support services. The professional services segment accounted for the larger market share in 2018 whereas managed services segment is projected to exhibit the higher CAGR.

Based on deployment mode, the OT market has been segmented into cloud, on-premise, and hybrid. The on-premise segment accounted for the largest market share in 2018, whereas hybrid mode is presumed to exhibit the highest CAGR during the review period.

Key Players

MRFR identifies some of the key players in the OT security market including Kaspersky Lab (Russia), Verve Industrial Protection (US), Symantec Corporation (US), Cyberbit Ltd (Israel), Rockwell Automation, Inc. (US), Schneider Electric (France), Siemens (Germany), Forescout Technologies Inc (US), MAVERICK Technologies, LLC (US), Palo Alto Networks, Inc.(US), Cisco Systems, Inc (US), Carbon Black, Inc (US), Honeywell International Inc (US), General Electric (Wurldtech) (US), and PAS Global, LLC (US)

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Market News-Flash

Global Operational Technology Security Market Is Estimated To Witness High Growth Owing To Growing Threats to Critical Infrastructure

Pooja salve 2023-08-18

The global Operational Technology Security market is estimated to be valued at US$ 4,803. As industries become more interconnected and rely heavily on digital technologies, the need for robust OT security solutions has become paramount. The awareness among organizations and individuals about the importance of OT security is growing, leading to increased adoption of security solutions. Key Takeaways: Paragraph 1: The global Operational Technology Security Market is expected to witness high growth, exhibiting a CAGR of 7. In conclusion, the Operational Technology Security market is poised for high growth due to the increasing threats to critical infrastructure.

Operational Technology Security Market Is Estimated To Witness High Growth

Anjali CMI 2023-10-11

The global operational technology security market is estimated to be valued at US$ 14,803. PEST Analysis: Political: The political landscape can significantly impact the operational technology security market. Governments around the world are increasingly focusing on ensuring the security of critical infrastructure, which drives the demand for operational technology security solutions. Economic: The economic factors play a crucial role in the growth of the operational technology security market. In terms of regional analysis, North America is projected to be the fastest-growing and dominating region in the operational technology security market.

Global Operational Technology Security Market Is Estimated To Witness High Growth Owing To Increasing Need for Cybersecurity Solutions

Ben Wood 2023-08-23

The global Operational Technology Security Market is estimated to be valued at US$ 14,803. As a result, the demand for operational technology security solutions has witnessed significant growth in recent years. D) Key Takeaways: Paragraph 1: The global operational technology security market is expected to witness high growth, exhibiting a CAGR of 7. Paragraph 2: North America is expected to be the fastest-growing and dominating region in the operational technology security market. The integration of AI and ML algorithms into operational technology security solutions is a key trend driving market growth.

Operational Technology Security Market Competitive Landscape And Forecast 2021-2028

Rahul Kumar Yadav 2023-08-03

The Operational Technology Security Market has witnessed significant growth and evolution in recent years due to the increasing interconnectivity and digitization of critical infrastructure and industrial processes. Furthermore, the Operational Technology Security Market has seen an active participation of industrial control system (ICS) vendors in the security space. This convergence of OT and security technologies is blurring the lines between traditional OT and IT vendors, intensifying competition as both sides vie for a share of the burgeoning OT security market. As the Operational Technology Security Market continues to mature, mergers and acquisitions have become commonplace. The Operational Technology Security Market is dynamic and highly competitive, driven by the increasing digitization of critical infrastructure and the growing awareness of cyber threats.

Operational Technology Security Market Is Estimated To Witness High Growth Owing To Opportunity To Safeguard Critical Infrastructure From Cyber Attacks

Poonam 2024-01-18

It includes industrial control systems, Distributed Control Systems (DCS), Supervisory Control and Data Acquisition (SCADA) systems and other programmable logic controllers (PLCs) that monitor and control industrial processes and physical equipment. The global operational technology security Market is estimated to be valued at US$ 21. Attackers are increasingly targeting OT systems to gain access to large corporate networks and industrial control systems. Porter's Analysis Threat of new entrants: The operational technology security market requires high R&D investments and resources to develop specialized products. Key players operating in the operational technology security market are Cisco, Honeywell, IBM, Intel, and Symantec.

Building Resilience: Strengthening Operational Technology Security in Industrial Environments

Sushil Mahalle's Articles 2023-05-25

This article focuses on the critical task of building resilience by strengthening operational technology security in industrial settings. The article highlights the importance of conducting comprehensive risk assessments, identifying potential vulnerabilities, and implementing robust security controls tailored to industrial Operational Technology Security. In today's digital age, where operational technology (OT) systems are becoming increasingly interconnected and integral to critical infrastructures, the need for robust security measures is more crucial than ever. As cyber threats continue to evolve and pose significant risks to industrial environments, understanding and adopting emerging trends in operational technology security is essential to safeguarding the future. One of the emerging trends in OT security is the adoption of artificial intelligence (AI) and machine learning (ML) technologies.

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