Operational Technology (OT) Security Market Report: Trends, Forecast and Competitive Analysis

Operational Technology (OT) Security Market Report: Trends, Forecast and Competitive Analysis

Operational Technology (OT) Security Market Trends and Forecast

The future of the operational technology (OT) security market looks promising with opportunities in the BFSI, manufacturing, energy & power generation, and oil & gas industries. The global operational technology (OT) security market is expected to grow with a CAGR of 15% to 17% from 2023 to 2028. The major drivers for this market are initiatives taken by governments toward digitalization, increased regulatory requirements, and rise in cyberattacks on OT infrastructure.

Operational Technology (OT) Security Market

Emerging Trends in the Operational Technology (OT) Security Market

Emerging trends, which have a direct impact on the dynamics of the industry, include increase in demand for professional and managed security services, rising risk of cyber threats on critical infrastructure, and increasing investments to adopt the industrial internet of things (IIOT) solution.

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Operational Technology (OT) Security Market by Segments

Operational Technology (OT) Security Market by Segment

The study includes a forecast for the global operational technology (OT) security market by offering, organization size, deployment mode, end use industry, and region, as follows:

Operational Technology (OT) Security Market by Offering [Value ($B) Shipment Analysis from 2017 to 2028]:


Solutions
Services

Operational Technology (OT) Security Market by Organization Size [Value ($B) Shipment Analysis from 2017 to 2028]:


Large Enterprises
SMEs

Operational Technology (OT) Security Market by Deployment Mode [Value ($B) Shipment Analysis from 2017 to 2028]:


Cloud
On-Premises

Operational Technology (OT) Security Market by End Use Industry [Value ($B) Shipment Analysis from 2017 to 2028]:


BFSI
Manufacturing
Energy and Power Generation
Oil and Gas
Others

Operational Technology (OT) Security Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:


North America
Europe
Asia Pacific
The Rest of the World

List of Operational Technology (OT) Security Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies operational technology (OT) security companies cater to increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the operational technology (OT) security companies profiled in this report include.


Accenture
Belden
Cisco Systems
Claroty
CyberX
Cyberbit
Darktrace
Bayshore Networks
Hitachi Systems Security
Fortinet
IBM

Operational Technology (OT) Security Market Insights


Lucintel forecasts that cloud will remain the larger segment over the forecast period as cloud-based deployment mode of OT security solutions provides organizations with cloud-based solutions that offer scalability, speed, and enhanced OT security.
Energy and power generation is expected to remain the fastest growing segment as OT systems are typically used in thermal and hydropower plants. Additionally private consumer data coming into utility systems through smart metering and smart home initiatives.
North America will remain the largest region as this region has seen highly innovative and rapidly adopting technological and digital transformations.

Features of the Operational Technology (OT) Security Market


Market Size Estimates: Operational technology (OT) security market size estimation in terms of value ($B)
Trend and Forecast Analysis: Market trends (2017-2022) and forecast (2023-2028) by various segments and regions.
Segmentation Analysis: Operational technology (OT) security market size by various segments, such as by offering, organization size, deployment mode, end use industry, and region.
Regional Analysis: Operational technology (OT) security market breakdown by North America, Europe, Asia Pacific, and the Rest of the World.
Growth Opportunities: Analysis on growth opportunities in different by offering, organization size, deployment mode, end use industry, and regions for the operational technology (OT) security market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape for the operational technology (OT) security market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q1. What is the operational technology (OT) security market size?

Answer: The global operational technology (OT) security market is expected to reach an estimated $xx billion by 2028.

Q2. What is the growth forecast for operational technology (OT) security market?

Answer: The global operational technology (OT) security market is expected to grow with a CAGR of 15% to 17% from 2023 to 2028.

Q3. What are the major drivers influencing the growth of the operational technology (OT) security market?

Answer: The major drivers for this market are initiatives taken by governments toward digitalization, increased regulatory requirements, and rise in cyberattacks on OT infrastructure.

Q4. What are the major segments for operational technology (OT) security market?

Answer: The future of the operational technology (OT) security market looks promising with opportunities in the BFSI, manufacturing, energy & power generation, and oil & gas industries.

Q5. What are the emerging trends in operational technology (OT) security market?

Answer: Emerging trends, which have a direct impact on the dynamics of the industry, include increase in demand for professional and managed security services, rising risk of cyber threats on critical infrastructure, and increasing investments to adopt the industrial internet of things (IIOT) solution.

Q6. Who are the key operational technology (OT) security companies?

Answer: Some of the key operational technology (OT) security companies are as follows:


Accenture
Belden
Cisco Systems
Claroty
CyberX
Cyberbit
Darktrace
Bayshore Networks
Hitachi Systems Security
Fortinet
IBM

Q7. Which operational technology (OT) security segment will be the largest in future?

Answer: Lucintel forecasts that cloud will remain the larger segment over the forecast period as cloud-based deployment mode of OT security solutions provides organizations with cloud-based solutions that offer scalability, speed, and enhanced OT security.

Q8. In operational technology (OT) security market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region as this region has seen highly innovative and rapidly adopting technological and digital transformations.

Q9. Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% Customization Without any Additional Cost.

This report answers following 11 key questions

Q.1. What are some of the most promising, high-growth opportunities for the infrastructure as code (IaC) market by component (solutions (object storage, block storage, and file storage) and services (consulting, integration and implementation, and training, support and maintenance), organization size (large enterprises and SMEs), deployment type (public cloud, private cloud, and hybrid cloud), end use industry (BFSI, government, healthcare and life sciences, telecommunication, IT & ITeS, manufacturing, energy & utilities, media & entertainment, retail & consumer goods, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?

For any questions related to operational technology security market or related to operational technology security companies, operational technology security market size, operational technology security market share, operational technology security analysis, write Lucintel analyst at email: [email protected]. We will be glad to get back to you soon.
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