Operational Technology (OT) Security Market
According to MRFR analysis, the global OT security market was valued at USD 200.0 million in 2018 and is expected to register a CAGR of 42.2% during the forecast period to reach USD 3,531.0 million by 2025. The propelling factors that contribute to the market growth include the integration of IT and OT systems, surge in the risk of cyber threats on critical infrastructure, and increasing dependence on legacy systems.
Segmentation
The global OT security market has been segmented based on component, deployment mode, industry, and region.
By component, the global OT security market has been bifurcated into solutions and services. The solution segment accounted for the larger market share in 2018 owing to dependence on legacy systems which are vulnerable to cyber attacks. However, the services segment is expected to exhibhit the higher CAGR. The solution segment is further categorized into OT network segmentation, OT endpoint security, and anomaly detection, and incident response and reporting. Also, the services segment has been sub-divided into professional services and managed services. The professional services segment has been categorized into consulting services, deployment and implementation services, and other support services. The professional services accounted for the larger market share in 2018 whereas managed services segment is projected to exhibit the higher CAGR.
By deployment mode, the OT market has been segmented into cloud, on-premise, and hybrid. The on-premise segment accounted for the largest market share in 2018; the growth has been attributed to seamless operation and functionality of the solution that drives the adoption. Additionally, hybrid mode is presumed to exhibit the highest CAGR during the forecast period.
Based on industry, the global OT security market has been categorized into manufacturing, power and electrical, mining, transportation, and others. Furthermore, the manufacturing segment has been subdivided into discrete manufacturing and process manufacturing. The manufacturing segment accounted for the largest market share in 2018 due to the increasing frequency of cyberattacks. Whereas, the power and electrical segment is anticipated to exhibit the highest CAGR during the forecast period.
Regional Study
By region, the market is studied for North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. The market in North America, followed by APAC is likely to grow rapidly. The Middle East and Africa is one of the booming spot for vendors to sale OT security solution due to the presence of large size oil and gas industry.
Key Contenders
Honeywell International Inc (US), Cisco Systems, Inc (US), Kaspersky Lab (Russia), Carbon Black, Inc (US), PAS Global, LLC (US), Cyberbit Ltd (Israel), Symantec Corporation (US), Palo Alto Networks, Inc.(US), Verve Industrial Protection (US), Forescout Technologies Inc (US), General Electric (Wurldtech) (US), MAVERICK Technologies, LLC (US), Schneider Electric (France), Rockwell Automation, Inc.(US), Siemens (Germany), Owl Cyber Defense, SCADAfence, Fox-IT, Biznet Bilisim, AlertEnterprise, Armis, Inc., Claroty, CyberX, Inc. DRAGOS, INC, Red Tiger Security, LLC, NOZOMI NETWORKS INC, Indegy, PHOENIX, Yokogawa Electric Corporation, Tenable®, Inc, IOActive Inc, Deloitte Touche Tohmatsu Limited, Darktrace Industrial, Deep Secure, SCADAhacker, DFLabs, Lofty Perch Inc., and Bayshore Networks.
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Operational Technology Security MarketThe global OT security market has been segmented based on component, deployment mode, industry, and region.Based on component, the global OT security market has been bifurcated into solutions and services.
Additionally, the services segment has been sub-divided into professional services and managed services.
The professional services segment accounted for the larger market share in 2018 whereas managed services segment is projected to exhibit the higher CAGR.Based on deployment mode, the OT market has been segmented into cloud, on-premise, and hybrid.
The on-premise segment accounted for the largest market share in 2018, whereas hybrid mode is presumed to exhibit the highest CAGR during the review period.Regional AnalysisThe global operational technology (OT) security market was valued at USD 200.0 million in 2018 and is presumed to exhibit a CAGR of 42.2% during the forecast period to reach USD 3,531.0 million by 2025.
The geographical analysis of the global operational technology (OT) security market has been done for North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.North America accounted for the largest market share in the OT security market; this growth can be attributed to the presence of tier I vendors and early adoption of security solutions associated with highly skilled expertise.
The European market has been divided into the UK, Italy, Spain, Germany, France, and the rest of Europe.
Operational Technology Security Market The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Operational Technology Security Market.
The growth sectors of the Operational Technology Security Market are identified with precision for a better growth perspective.The global operational technology (OT) security market was valued at USD 200.0 million in 2018 and is presumed to exhibit a CAGR of 42.2% during the forecast period to reach USD 3,531.0 million by 2025.
The geographical analysis of the global operational technology (OT) security market has been done for North America, Europe, Asia-Pacific, the Middle East and Africa, and South America.FREE PDF@ https://www.marketresearchfuture.com/sample_request/8189North America accounted for the largest market share in the OT security market; this growth can be attributed to the presence of tier I vendors and early adoption of security solutions associated with highly skilled expertise.
The European market has been divided into the UK, Italy, Spain, Germany, France, and the rest of Europe.
The market growth of the European market is due to the adoption of smart factories, connected ecosystems, and increase in access to data in hybrid cloud environments.The market in Asia-Pacific is expected to be the fastest-growing from 2019 to 2025.
The regional market has been classified as China, Japan, India, Australia, South Korea, Singapore, and the rest of Asia-Pacific.
