Operational Technology Security Market Opportunities, Business Forecast To 2030
Operational Technology Security Market is expected to reach a market value of USD 63.9 Billion by 2030, growing at an 18.1% CAGR.
Shraddha Nevase
Operational Technology Security Market: Rising Risk of Cyber Threats on Critical Infrastructure is expected to augment the market at a healthy CAGR of ~ 18.1% during the forecast period of 2021 to 2030.
According to a comprehensive research report by Market Research Future (MRFR), “Operational Technology Security Market: By Component, By Deployment, By End-Use Industry, By Region —Forecast Till 2030”, the market is predicted to thrive substantially during the assessment era from 2022 to 2030 at a healthy CAGR of approximately 18.1% to attain a valuation of around USD 15.8 Billion by the end of 2030.
Operational Technology Security Market Overview:
According to MRFR analysis, the global Operational Technology Security Market is expected to register a CAGR of ~ 18.1% from 2021 to 2030 and hold a value of over ~USD 63.9 Billion by 2030.
Operational Technology Security Market Competitive Analysis:
The list of leading contributors across the global market for Operational Technology Security Market includes companies such as:
- Kaspersky Lab (Russia)
- General Electric (US)
- Rockwell Automation Inc. (US)
- PAS Global LLC. (US)
- Honeywell International Inc (US)
- Schneider Electric (France)
- Cisco Systems Inc. (US)
- Fortinet Inc. (US)
- Broadcom (US)
- Palo Alto Networks (US)
- Darktrace (UK)
- Forescout Technologies Inc. (US)
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The operational technology (OT) security market is used in several industries to measure, control, and provide a view of processes. These systems are enormously interconnected infrastructures and networks that control and manage industrial processes. OT comprises systems of electronic mechanisms that can control the physical operations of the machines, which transmit sensor data to the supervisor for monitoring and automated operational functions. Factors such as the upsurge in cyber-attacks and network security threats, smart operational technologies, and convergence of IT and OT ecosystems are anticipated to boost the growth of the market. The outburst of COVID-19 has significantly affected all businesses globally. This led to substantial effects on economic growth and governments had to shut down commercial as well as educational segments for a specific period. To combat the COVID-19 epidemic, most countries had implemented lockdowns, and are now easing it phase-wise and industry-wise. The global OT security market observed strong growth in the pre-COVID era, however, COVID concerns that trend. Many industries such as industrial, chemical and petrochemical, and others are forced to close their business which radically affected their overall revenue. Thus, many organizations are planning to postpone non-essential investments. Furthermore, owing to social distancing and lockdown, the ongoing implementation period for OT security has augmented.
Market Segmentation:
The global Operational Technology Security Market has been segmented into component, Deployment, and End-Use Industry
Based on the Component, The global Operational Technology Security Market has been segmented into Solution, and Services
Based on the Deployment, The global Operational Technology Security Market has been segmented into On-Premise, Cloud, and Hybrid
Based on the End-Use Industry, The global Operational Technology Security Market has been segmented into Power & Electrical, Mining, Transportation, Manufacturing, and Others
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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
BY REGION:
- North America
- Europe
- Asia-Pacific
- Middle East and Africa
- South America
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Regional Analysis:
North America is anticipated to account for the largest market share in the global operational technology security market. Regulatory compliances are accepted by numerous governments to protect data from cyber threats and this is upsurging the adoption of operational technology (OT) security solutions.
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Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis regarding diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing the optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.
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