Operational Technology (OT) Security Market Report 2024: Insights and Projections

The Business Research Company has recently revised its global market reports, now incorporating the most current data for 2024 along with projections extending up to 2033.

Operational Technology (OT) Security Global Market Report 2024 by The Business Research Company offers comprehensive market insights, empowering businesses with a competitive edge. It includes detailed estimates for numerous segments and sub-segments, providing valuable strategic guidance.

The Market Size Is Expected To Reach $31.31 billion In 2028 At A CAGR Of 10.8% :

The operational technology (OT) security market size has grown rapidly in recent years. It will grow from $18.65 billion in 2023 to $20.76 billion in 2024 at a compound annual growth rate (CAGR) of 11.3%. The growth in the historic period can be attributed to increased connectivity, aging infrastructure, cyber attacks, incident response failures, adoption of digital technologies.

The operational technology (OT) security market size is expected to see rapid growth in the next few years. It will grow to $31.31 billion in 2028 at a compound annual growth rate (CAGR) of 10.8%. The growth in the forecast period can be attributed to 5G integration, regulatory evolution, cloud migration, adoption of biometric security measures, blockchain integration. Major trends in the forecast period include zero trust framework, behavioral analytics, predictive maintenance security, human element emphasis, automated incident response.

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Operational Technology (OT) Security Market Major Segments
The OT market covered in this report is segmented -

1) By Offering: Solutions, Services
2) By Deployment Mode: Cloud, On-Premise
3) By Organization Size: Large Enterprises, Small And Medium Enterprises (SMEs)
4) By Industry: Power And Electrical, Mining, Transportation, Manufacturing, Other Industries

Key Driver - The Surging Role Of Operational Technology (OT) Security Market Amidst Increased Utilization Of Digital Technologies In Industrial Systems

The increased use of digital technologies in industrial systems will propel the growth of the operational technology (OT) security market going forward. Digital technologies in industrial systems refer to an increase in automation, preventative maintenance, self-optimization of process improvements, and, most importantly, a new level of efficiency and customer responsiveness. Operational technology security is viewed as a key function in operational and enterprise environments because it offers a strong foundation for addressing digital technology challenges, promoting adopting new technologies in operational environments, and demonstrating safety and security. For instance, according to the statistics published by the Computing Technology Industry Association, a US-based, non-profit organization known for issuing professional certifications for the information technology industry, in 2021, the information technology sector is projected to increase by 4%, reaching $5 trillion. Therefore, the increased use of digital technologies in industrial systems is driving the growth of the operational technology (OT) security market.

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Prominent Trend - Technological Advancements Shaping The Landscape Of Operational Technology (OT) Security Market

The increased use of digital technologies in industrial systems will propel the growth of the operational technology (OT) security market going forward. Digital technologies in industrial systems refer to an increase in automation, preventative maintenance, self-optimization of process improvements, and, most importantly, a new level of efficiency and customer responsiveness. Operational technology security is viewed as a key function in operational and enterprise environments because it offers a strong foundation for addressing digital technology challenges, promoting adopting new technologies in operational environments, and demonstrating safety and security. For instance, according to the statistics published by the Computing Technology Industry Association, a US-based, non-profit organization known for issuing professional certifications for the information technology industry, in 2021, the information technology sector is projected to increase by 4%, reaching $5 trillion. Therefore, the increased use of digital technologies in industrial systems is driving the growth of the operational technology (OT) security market.

Operational Technology (OT) Security Market Players
Major companies operating in the operational technology (OT) security market report are Honeywell International Inc., Siemens AG, General Electric Company, IBM Corporation, Cisco Systems Inc., Schneider Electric SE, Broadcom Inc., ABB Ltd., VMware Inc., Rockwell Automation Inc., Palo Alto Networks Inc., Fortinet Inc., Belden Inc., Check Point Software Technologies Ltd., Trend Micro Incorporated, Zscaler, Kaspersky Lab, Darktrace Limited, FireEye Inc., Dragos Inc., Cyberbit Ltd., PAS Global LLC, Clavister AB, Nozomi Networks Inc., Mocana Corporation, Radiflow Ltd., Bayshore Networks Inc., Forescout Technologies Inc., Claroty Ltd., Owl Cyber Defense Solutions LLC, Innominds Software Inc., Tempered Networks Inc., CyberArk Software Ltd., Senstar Corporation, Wurldtech Security Technologies Inc., Securicon LLC, SecuriThings Ltd., Applied Risk B.V., Tenable Inc., OSIsoft LLC, Radware Ltd.

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Largest And Fastest Growing Region In The Market
North America was the largest region and Western Europe was the second largest region in the operational technology (OT) security market in 2023. The regions covered in the operational technology (ot) security market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The Table Of Content For The Market Report Include:
1. Executive Summary
2. Operational Technology (OT) Security Market Report Structure
3. Operational Technology (OT) Security Market Trends And Strategies
4. Operational Technology (OT) Security Market - Macro Economic Scenario
5. Operational Technology (OT) Security Market Size And Growth
…..
27. Operational Technology (OT) Security Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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