Operational Technology (OT) Security Market Breakdown By Size, Share, Growth, Trends, and Industry Analysis

 

MarkNtel Advisors recently published a detailed industry analysis of the Operational Technology (OT) Security Market. The report covers growth trends, geographical marketing strategies, challenges, opportunities, and drivers influencing the market.

Insights and Analysis of the Operational Technology (OT) Security Market (2024-2030)

The Global Operational Technology (OT) Security Market size is valued at USD 19.84 billion in 2023 and is projected to reach USD 58.45 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 14.93% during the forecast period, i.e., 2024-30.

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What is driving the Operational Technology (OT) Security Market?

Rising Cybersecurity Threats Amplifying the Demand for OT Security Solutions – Over the past few years, several industries have transitioned towards digital platforms and started providing online services. As per the statistics by the GoDaddy Data Observatory, in 2023, more than 55% of the smaller businesses and around 71% of the larger enterprises have started using online platforms to provide services to consumers. These companies store the information related to the finances & the customers in their cloud servers. However, with the evolution of technology, the number of cyberattack incidents has also increased. Based on the statistics by IBM, a tech-based company, data breaches across the globe rose by 72% during 2021-2023, compromising the critical information of the organizations as well as customers. Therefore, to ensure the safety of the data, enterprises are increasingly adopting these security solutions, amplifying the market growth.

Also, the official governing bodies across the globe are recognizing the importance of data security & privacy. Therefore, the authorities are laying regulations that are mandating organizations to integrate security solutions within their digital ecosystems. Thus, compliance with these safety standards will continue to boost the requirement for OT security solutions in the coming years.

What segments define the Operational Technology (OT) Security Market from 2024 to 2030? How do these segments contribute to market dynamics and growth?

By Offering

(Solutions, [Security Information & Event Management (SIEM), Asset Management, Network Segmentation & Isolation, Access Control & Identity Management, Vulnerability Management, Incident Response & Management, Data Protection & Encryption], Others, Services, [Managed Security Services, Consulting & Advisory Services, Training & Education, Consulting Services, Integration Services, Support & Maintenance]),

By Deployment

(Cloud, On-Premise),

By Enterprise Size

(Large Enterprises, Small & Medium Enterprises),

By End Users

(Energy & Utilities, Oil & Gas, Manufacturing, Transportation and Logistics, Mining, Healthcare)

By Regions

North America, South America, Europe, The Middle East & Africa, Asia-Pacific, Rest of the World

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Who are the leading key players shaping the Operational Technology (OT) Security Market landscape?

Fortinet, Inc., AO Kaspersky Lab, Cisco Systems, Inc., Forcepoint, Thales, Palo Alto Networks, Broadcom, Rockwell Automation, Forescout, Honeywell International Inc., Darktrace Holdings Limited, Microsoft, Nozomi Networks, International Business Machines Corp., Qualys, Inc.

Questions Addressed in this Study

1.What factors are driving the Operational Technology (OT) Security Market growth?

2.How is the Operational Technology (OT) Security Market expected to grow over the next five years?

3.What are the key insights into the current trends in the Operational Technology (OT) Security Market?

4.What is the current size of the Operational Technology (OT) Security Market, and how is it projected to change in the future?

6.What is the future outlook for the Operational Technology (OT) Security Market in terms of technological advancements and market expansion?

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Why MarkNtel Advisors?

MarkNtel Advisors is a leading research, consulting, & data analytics firm that provides an extensive range of strategic reports on diverse industry verticals. We deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, & individuals, among others.

Our specialization in niche industries & emerging geographies allows our clients to formulate their strategies in a much more informed way and entail parameters like Go-to-Market (GTM), product development, feasibility analysis, project scoping, market segmentation, competitive benchmarking, market sizing & forecasting, & trend analysis, among others, for 15 diverse industrial verticals.

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