Operational Technology Security Market by Component (Services, Solutions), Security Type (Application Security, Database Security, Endpoint Security), Deployment Mode, Organization Size, Industry - Global Forecast 2024-2030

Operational Technology Security Market by Component (Services, Solutions), Security Type (Application Security, Database Security, Endpoint Security), Deployment Mode, Organization Size, Industry - Global Forecast 2024-2030

The Operational Technology Security Market size was estimated at USD 21.47 billion in 2023 and expected to reach USD 25.08 billion in 2024, at a CAGR 18.15% to reach USD 69.03 billion by 2030.

Operational technology (OT) security is the measures and controls in place to protect OT systems that use software to automate industrial processes against cybersecurity threats. OT security has evolved into a critical infrastructure management requirement as information technology converges, and OT drives greater automation and efficiency in industrial systems. Operational technology security is designed to fulfill the unique security needs of OT environments, which include protecting system availability, understanding OT-specific protocols, and blocking attacks targeting the legacy systems commonly used in OT environments. Operational technology security strategies are often detection-focused due to the prospect of false positive errors in threat prevention tools. Moreover, the increasing usage of digital technologies in the industrial sector and the rising involvement of governments in improving cybersecurity further improve the need for efficient and effective OT networks. However, substantial procurement costs, maintenance & upgradation issues, and lack of an experienced workforce for OT security solutions significantly impede the adoption of OT security solutions. In addition, the emerging need for competent and regulated security services and R&D activities to construct comprehensive OT security solutions is expected to create tremendous opportunities for growth in the operational technology security market.

Regional Insights

Several organizations in the American region are seeking innovative solutions to help protect their critical assets and networks with the increasing adoption of emerging technologies, including artificial intelligence (AI), the Internet of Things (IoT), and machine learning (ML). One key trend in the American OT security market is the shift towards a more holistic approach to cybersecurity. Instead of using disparate security solutions for different parts of their networks, organizations seek comprehensive solutions that can provide end-to-end protection. Moreover, the regulatory framework has encouraged organizations to adopt standards for governing their cybersecurity practices. The Asia-Pacific operational technology security market is experiencing significant growth, driven primarily by increasing awareness of the need for secure infrastructure as more organizations become reliant on digital systems. The increasing sophistication of cyber attacks, along with the growth of the IoT and connected devices, is accelating the growth of operational technology security in Europe. With rising threats from external actors, organizations seek solutions to protect their systems and data assets. Additionally, implementing laws and regulations such as GDPR and EU Network and Information Security (NIS) encourage greater investment in OT security measures.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Operational Technology Security Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Proliferating use of digital technologies in industrial sector
Growing involvement of governments to improve cybersecurity
Rising demand for efficient and effective operational technology networks

Market Restraints

High procurement cost and maintenance & upgradation issues

Market Opportunities

Emerging need for competent and regulated security services
Ongoing R&D activities to construct comprehensive operational technology security solutions

Market Challenges

Lack of skilled and experienced workforce for operational technology security solutions

Market Segmentation Analysis

Security Type: Growing significance of database security in highly data-centric setups
Deployment Mode: Expanding adoption of On-premise deployment mode due to data security and control

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Operational Technology Security Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Operational Technology Security Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Introducing Critical Start's MDR Services for Operational Technology

Critical Start has expanded its cybersecurity solutions by introducing Managed Detection and Response (MDR) services specifically tailored for Operational Technology (OT). This initiative is part of the company's broader Managed Cyber Risk Reduction strategy, which integrates threat analysis, vulnerability assessments, and risk management to fortify organizations' security frameworks. The Critical Start MDR for OT is designed to enhance visibility, continuous monitoring, and prompt response to cyber incidents in these specialized environments.

Strengthening Operational Technology Security in Digital Manufacturing: A Strategic Collaboration between Mitsubishi Electric and Dispel LLC

Mitsubishi Electric Corporation has formalized a partnership with Dispel LLC to enhance security for operational technology (OT) and extend its capabilities in the sector. This collaboration aims to address the escalating security challenges associated with remote maintenance in manufacturing, exacerbated by the adoption of IoT and digital transformation trends. Remote maintenance requires reliable internet-based monitoring and troubleshooting of production lines, often at risk from cyber threats targeting communication channels.

Wärtsilä partners with Tenable to solve Operational Technology (OT) asset management challenge

Wärtsilä Corporation, a provider of technologies and lifecycle services for the marine and energy markets, has announced its strategic partnership with Tenable, engaged in cyber exposure, vulnerability management, and compliance solutions. The move signals Wrtsil's commitment to strengthening the security of Operational Technology (OT) assets through robust asset management capabilities. With this partnership, Wärtsilä Corporation can identify weaknesses in OT infrastructure, remediate potential vulnerabilities, and provide customers with increased visibility into the state of their Cyber Risk Management programs.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Operational Technology Security Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Operational Technology Security Market, highlighting leading vendors and their innovative profiles. These include Accenture PLC, AO Kaspersky Lab, Belden Inc., BeyondTrust Corporation, BlackBerry Limited, Broadcom Inc., Check Point Software Technologies Ltd., Cisco Systems, Inc., Claroty Ltd., Cyberbit Ltd., Darktrace Holdings Limited, Dragos, Inc., FireMon, LLC, Forcepoint LLC, Forescout Technologies, Inc., Fortinet, Inc., Hitachi, Ltd., Honeywell International Inc., International Business Machines Corporation, Johnson Controls International PLC, Microsoft Corporation, NCC Group, Nozomi Networks Inc., Optiv Security Inc., Palo Alto Networks, Inc., Radiflow, SentinelOne, Inc., Siemens AG, SSH Communications Security, Inc., Tenable, Inc., Thales Group, Trellix, TÜV SÜD AG, Waterfall Security Solutions Ltd., and Zscaler, Inc..

Market Segmentation & Coverage

This research report categorizes the Operational Technology Security Market to forecast the revenues and analyze trends in each of the following sub-markets:

Component
Services
Monitoring & Detection
Training & Consultancy
Solutions
Integrated Solution
Standalone Solution
Security Type
Application Security
Database Security
Endpoint Security
Network Security
Deployment Mode
Hybrid
On-Cloud
On-Premise
Organization Size
Large Enterprises
Small & Medium Enterprises
Industry
Chemical & Mining
Energy & Utilities
Manufacturing
Transportation
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

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