Operational Technology Security Market:
The market for Operational Technology Security Market is projected to achieve a value of USD 105,933.4 million by 2032, with a compounded annual growth rate (CAGR) of 21.7% from 2023 to 2032. The rising need for security solutions in industrial control systems (ICS) and supervisory control and data acquisition (SCADA) systems is a key factor fueling the market’s expansion.
Competitive Landscape:
The key players operating in the global operational technology security market include:
- ABB Ltd.
- Honeywell International Inc.
- Schneider Electric SE
- Siemens AG
- Rockwell Automation Inc.
- Emerson Electric Co.
- Cisco Systems Inc.
- Fortinet Inc.
- Check Point Software Technologies Ltd.
- Palo Alto Networks Inc.
These players are adopting various strategies, such as product launches, partnerships, and acquisitions, to expand their market share.
Market Segmentation:
The global operational technology security market is segmented based on component, deployment, end-use industry, and region.
- By component: The market is segmented into solutions and services. The solutions segment is further divided into OT endpoint security, OT network segmentation, anomaly detection, incident response and reporting, and others.
- By deployment: The market is segmented into on-premises and cloud-based. The cloud-based segment is expected to grow at a higher rate during the forecast period.
- By end-use industry: The market is segmented into energy and utilities, manufacturing, transportation and logistics, healthcare, and others. The energy and utilities segment is expected to be the largest market during the forecast period.
- By region: The market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America. North America is expected to be the largest market during the forecast period.
Get Sample Report: https://www.marketresearchfuture.com/sample_request/8189
Market Drivers:
- OT systems are facing a surge in cyber-attacks, prompting a heightened need for security solutions in ICS and SCADA systems.
- The adoption of cloud-based OT security solutions is on the rise, and there is a growing recognition of the crucial role OT security plays in safeguarding critical infrastructure.
Market Restraints:
Challenges in the field of operational technology (OT) security include
- a shortage of qualified professionals
- elevated expenses associated with OT security solutions
- intricacies within OT networks
- a dearth of standardization in OT security measures.
Related Reports:
TV Analytics Market Research Report- Global Forecast to 2030
Mobile Cloud Market Research Report- Global Forecast to 2030
Conclusion:
The global operational technology security market is expected to grow at a significant rate during the forecast period. The growth of the market is driven by the increasing demand for OT security solutions in the ICS and SCADA systems. The rising awareness about the importance of OT security is also contributing to the growth of the market.
However, the lack of skilled professionals and the high cost of OT security solutions are restraining the growth of the market. The market is expected to witness significant growth in the coming years due to the rising demand for OT security solutions in the industrial and manufacturing sectors.
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Also, we are launching “Wantstats” the premier statistics portal for market data in comprehensive charts and stats format, providing forecasts, regional and segment analysis. Stay informed and make data-driven decisions with Wantstats.
Contact:
Market Research Future (Part of Wantstats Research and Media Private Limited)
99 Hudson Street, 5Th Floor
New York, NY 10013
United States of America
+1 628 258 0071 (US)
+44 2035 002 764 (UK)
Email: [email protected]
Website: https://www.marketresearchfuture.com
