Press release
The Surging Role Of Operational Technology (OT) Security Market Amidst Increased Utilization Of Digital Technologies In Industrial Systems: A Key Factor Shaping the Future of the Operational Technology (OT) Security Market in 2025
Operational Technology (OT) Security
The growth of the operational technology (OT) security market is being fueled by the escalating adoption of digital technologies in industrial systems. These technologies relate to heightened levels of automation, proactive maintenance, self-enhancement for process betterment, and, crucially, a significant growth in efficiency and customer attentiveness. The function of operational technology security is critical in operational and organizational surroundings as it establishes a solid base to tackle the challenges of digital technology. It also encourages the uptake of novel technologies in operational contexts while ensuring safety and security. As a case in point, Statistics Canada, the national statistical body of Canada, reported in November 2022, that in 2023, Canadian businesses with a workforce of five or more employees had a 7% usage of AI software or hardware. This marks a rise of 3 percentage points from 2021. Consequently, the escalating adoption of digital technologies in industrial systems is driving the expansion of the operational technology (OT) security market.
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What is the projected compound annual growth rate (CAGR) of the operational technology (ot) security market from 2025 to 2034, and what factors influence it?
The size of the operational technology (OT) security market has experienced swift expansion in recent years. The market value will rise from $20.31 billion in 2024 to $22.37 billion in 2025, reflecting a compound annual growth rate (CAGR) of 10.1%. Factors contributing to the growth during the historic period include increased connectivity, outdated infrastructure, cyber threats, inadequate incident responses, and the adoption of digital technologies.
The market size for operational technology (OT) security is projected to experience swift expansion in the forthcoming years. It is estimated to reach $35.23 billion by 2029, escalating at a compound annual growth rate (CAGR) of 12.0%. The surge during the projected period can be tied to the integration of 5G, changes in regulations, cloud transition, implementation of biometric security practices, and incorporation of blockchain. The period expects trends like a zero trust framework, behavioral analytics, anticipatory maintenance security, a focus on the human element, and automated incident responses.
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How are the latest trends influencing the growth of the operational technology (ot) security market?
Key players in the operational technology (OT) security industry are harnessing the potential of vital infrastructure smart technologies, like artificial intelligence, to establish competitive dominance. AI's application in OT security augments threat recognition and countermeasures, automates the management of vulnerabilities, and boosts the overarching security stance through the utilization of predictive analytics, behavioral scrutiny, and real-time monitoring within industrial surroundings. For example, Palo Alto Networks, Inc., a Cybersecurity solutions company based in the US, unveiled new attributes in its OT Security solution in October 2024. These include the sector's inaugural fully integrated, risk-assessed virtual patching fueled by Precision AITM, the Prisma Access Browser providing Privileged Remote Access, and rugged, machine learning-empowered Next-Generation Firewalls (NGFWs) purposed for ruthless industrial settings. These improvements equip OT security squads to handle access to vital OT systems, such as those used by contractors, securely and effortlessly. The virtual patching feature expedites the resolution of vital vulnerabilities without operation disruptions, and mechanizes asset inventory and risk evaluation.
What are the major segments of the operational technology (ot) security market and their role in driving growth?
The operational technology (OT) security 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
Subsegments:
1) By Solutions: Industrial Automation Solutions, SCADA (Supervisory Control And Data Acquisition) Systems, IoT (Internet Of Things) Solutions For OT, Advanced Analytics And Data Management Solutions
2) By Services: Consulting And Advisory Services, Implementation And Integration Services, Maintenance And Support Services, Training And Education Services
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Which regions are key players in the growth of the operational technology (ot) security market?
North America was the largest region and Western Europe was the second largest region in the operational technology (OT) security market in 2024. 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.
Who are the key firms paving the way for growth in the operational technology (ot) security market?
Major companies operating in the operational technology (OT) security market include Honeywell International Inc., Siemens AG, General Electric Company, accenture* plc, 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, Securicon LLC, SecuriThings Ltd., Applied Risk B.V., Tenable Inc., OSIsoft LLC, Radware Ltd.
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What Is Covered In The Operational Technology (OT) Security Global Market Report?
•Market Size Forecast: Examine the operational technology (ot) security market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the operational technology (ot) security market for a structured understanding.
•Key Players Overview: Analyze major players in the operational technology (ot) security market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the operational technology (ot) security market.
•Segment Contributions: Evaluate how different segments drive overall growth in the operational technology (ot) security market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the operational technology (ot) security market.
•Industry Challenges: Identify potential risks and obstacles affecting the operational technology (ot) security market.
•Competitive Landscape: Review strategic developments in the operational technology (ot) security market, including expansions, agreements, and new product launches.
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