Global Operational Technology Security Market Outlook, Industry Analysis and Prospect 2023

[Nivedita Gore]

Market Highlights
Market Research Future (MRFR), in its latest Global Operational Technology (OT) Security Market 2020 report, reveals different factors that are anticipated to impact the market. A complete analysis on the operational technology security market is done by proficient analysts of MRFR and is offered along with the report. As per MRFR analysis, the Operational Technology Security Market value can rise from USD 200.0 million in 2018 to USD 3,531.0 million by 2025. The Operational Technology Security Market rise can be attributed to the integration of IT and OT ecosystems. The increase in the need to terminate risks of cyber threats on major infrastructure can also underpin the expansion of the operational technology security market in the analysis period. The dependence on legacy systems make enterprise highly prone to cyberattacks, thus the growing installation of operational technology security solutions can support the expansion of the market in the years to come. The rise in adoption of industrial solutions enabled by Internet of Things (IIoT) solutions can also support the operational technology security market rise.
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Segmentation:
The segment evaluation of the operational technology security industry is done by component, deployment mode, and industry.
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The component based segment of the global operational technology security market are solution and service. The solution based segment of the OT security market are OT network segmentation, OT endpoint security, anomaly detection, reporting, and incident response. The services based segments of the OT security market are professional services and managed services. The professional services segments are implementation services, consulting services, and deployment. The deployment mode based segments of the OT security market are cloud, hybrid, and on-premise. The industry based segments of the OT security market are mining, transportation, manufacturing, power and electrical, and others. The manufacturing segments are process manufacturing and discrete manufacturing.
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Regional Analysis
The trends of the global OT security market is analyzed across North America, EU, Asia-Pacific, the MEA, and South America.
The OT security market in North America is expected to thrive in the years ahead. The continuous increase in the application of the OT security solutions across different industry verticals can promote the expansion of the regional market in the forecast period. In addition, the rise of the OT security market can be credited to the gradual increase in the industrial attacks creating the need for deploying preventive measures. The Middle East and Africa operation technology security market can witness gradual rise due to the presence of notable vendors of OT security solutions in the region In addition, the rise in deployment of OT security solutions in the oil and gas sector can boost the growth of the regional market. In APAC, the OT security market is expected to boom in the assessment period as awareness regarding this industrial security solution is increasing at a rapid pace.
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Key Players
Bayshore Networks, Palo Alto Networks, Inc.(US), Carbon Black, Inc (US), Honeywell International Inc (US), Cisco Systems, Inc (US), Kaspersky Lab (Russia), Symantec Corporation (US), PAS Global, LLC (US), Cyberbit Ltd (Israel), General Electric (Wurldtech) (US), Verve Industrial Protection (US), Forescout Technologies Inc (US), Rockwell Automation, Inc.(US), MAVERICK Technologies, LLC (US), Schneider Electric (France), SCADAfence, Siemens (Germany), Fox-IT, AlertEnterprise, Owl Cyber Defense, Armis, Inc., Yokogawa Electric Corporation, Red Tiger Security, LLC, BiznetBilisim, Claroty, CyberX, NOZOMI NETWORKS INC , Inc. PHOENIX, IOActiveInc, DRAGOS, INC, Indegy , Tenable®, Inc , Deloitte Touche Tohmatsu Limited , Darktrace Industrial, DFLabs, Deep Secure, and SCADAhacker, Lofty Perch Inc. are some reputed names in the OT security market as listed by MRFR.
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