Rising Cyberattacks Fuel Growth In The IT/OT Convergence Market: Major Factor in the Transformation of the Information Technology (IT) Or Operational Technology (OT) Convergence Market in 2025

How Will the Information Technology (IT) Or Operational Technology (OT) Convergence Market Grow, and What Is the Projected Market Size?
The market size of the convergence of information technology (IT) or operational technology (OT) has seen substantial expansion in the past few years. Its growth is projected to increase from $63.95 billion in 2024 to $75.32 billion in 2025, with a compound annual growth rate (CAGR) of 17.8%. Factors contributing to this growth during the historic period include the integration of superior technologies into industrial automation, the embrace of smart technology, broadened connectivity, industry digitization, and the amalgamation of IT and OT systems.

The convergence market of information technology (IT) or operational technology (OT) is predicted to experience a significant expansion in the following years. It is set to amplify to an anticipated $143.23 billion by 2029 with a compound annual growth rate (CAGR) of 17.4%. The enrichment during the anticipated period can be linked with the expanding adoption of industrial automation, escalating usage of internet-connected devices and the internet of things (IoT), a surge in cyber-attacks on vital infrastructure, an increase in cognizance about the significance of OT security, and the proliferation of government norms and criteria for OT security. As for the notable trends in the projected period, they encompass cloud migration, incorporation of cybersecurity, embrace of edge computing, digital twin technology, plus, integration of AL and machine learning.

What Factors Are Fueling Growth in the Information Technology (IT) Or Operational Technology (OT) Convergence Market?
The surge in cyberattacks is anticipated to fuel the expansion of the information technology (IT) or operational technology (OT) convergence market. These cyberattacks, often intentional and malicious attempts by groups or individuals to infiltrate another person's or entity's information systems, are on the rise due to increased digital reliance, enhanced connectivity, and a deficit of cybersecurity understanding. The convergence of IT and OT plays a pivotal role in strengthening cybersecurity resilience and curbing cyberattacks by elevating an organization's comprehensive security stance. For instance, AAG IT Services, a US cybersecurity company, reported an 81% hike in cyberattacks in Australia between July 2021 and June 2022, and a surge of more than 200% in 2022 in attacks on financial websites according to the most recent cybercrime statistics. Hence, the escalation in cyberattacks is stimulating the growth of the information technology (IT) or operational technology (OT) convergence market.

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Who Are the Major Industry Players Fueling Information Technology (IT) Or Operational Technology (OT) Convergence Market Expansion?
Major companies operating in the information technology (IT) or operational technology (OT) convergence market are Microsoft Corporation, Verizon Communications Inc., Dell Technologies Inc., Huawei Technologies Co. Ltd., Siemens AG, Intel Corporation, accenture* plc, International Business Machines Corporation, Cisco Systems Inc., Mitsubishi Electric Corporation, Honeywell International Inc., Fujitsu Limited, ABB Ltd., Hewlett Packard Enterprise Company, Cognizant, HCL Technologies Limited, Wipro Limited, Rockwell Automation, Palo Alto Networks Inc., PTC Inc., Sierra Wireless, TeamViewer, Birlasoft, Allied Telesis, Armis Inc., OTORIO Ltd., MachineMetrics

Which Key Developments Are Influencing the Information Technology (IT) Or Operational Technology (OT) Convergence Market?
Leading firms in the IT or OT convergence sector, such as Siemens, are creating open digital business platforms like the Siemens Xcelerator. These platforms are aiding in the digital transformation of aspects such as product creation, manufacturing, and daily functions. The Xcelerator platform launched by the Germany-based tech firm Siemens AG in June 2022, provides a carefully selected range of IoT-enabled software and hardware, a robust partner ecosystem, and a marketplace. This platform intends to merge the physical and digital aspects by integrating OT data with IT systems. This integration allows for more transparency, optimization, and the formation of new business strategies. The Siemens Xcelerator is a cloud-based open software platform that provides a unique source of truth where engineers, vendors, suppliers, partners, and clients can collaborate at any time and from any place. Certified partner solutions are made accessible via the Xcelerator platform's strong partner ecosystem, thereby encouraging co-creation and cooperation throughout the industrial value chain.

How Is the Segmentation of the Information Technology (IT) Or Operational Technology (OT) Convergence Market Defined?
The information technology (IT) or operational technology (OT) convergence market covered in this report is segmented -

1) By Type: Cloud Deployment, Local Deployment
2) By Network Technology: Wired, Wireless
3) By Application: Industrial, Business, Other Applications
4) By Industry: Energy And Utilities, Healthcare, Retail, Consumer Packaged Goods, Transportation And Logistics, Infrastructure And Construction, Telecommunications, Automotive, Agriculture, Other Industries

Subsegments:
1) By Cloud Deployment: Public Cloud, Private Cloud, Hybrid Cloud
2) By Local Deployment: On-premises Deployment, Edge Computing Deployment, Distributed Deployment

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What Is the Leading Region in the Information Technology (IT) Or Operational Technology (OT) Convergence Market?
North America was the largest region in the information technology (IT) or operational technology (OT) convergence market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the information technology (IT) or operational technology (OT) convergence market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Information Technology (IT) Or Operational Technology (OT) Convergence Global Market Report?

- Market Size Analysis: Analyze the Information Technology (IT) Or Operational Technology (OT) Convergence Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Information Technology (IT) Or Operational Technology (OT) Convergence Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Information Technology (IT) Or Operational Technology (OT) Convergence Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Information Technology (IT) Or Operational Technology (OT) Convergence Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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