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Global Operational Technology Security Market to reach USD 61.13 billion by the end of 2030.

Global Operational Technology Security Market Size study & Forecast, by Component (Solution, Services), by Deployment Mode (On-Premise, Cloud), by Organization Size (Large Enterprises, Small and Medium Enterprises), by End-User (BFSI, Manufacturing, Energy and Power, Oil and Gas, Transportation and Logistics, Others) and Regional Analysis, 2023-2030

Product Code: ICTNS-84231423
Publish Date: 20-12-2023
Page: 200

Global Operational Technology Security Market is valued at approximately USD 15.2 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 19% over the forecast period 2023-2030. Operational Technology (OT) security encompasses a variety of technologies, procedures, and guidelines aimed at recognizing and minimizing risks to operational technology systems. These measures encompass activities such as partitioning networks, managing access, detecting intrusions, and preparing for incident response. OT security has gained significant importance due to the increased connectivity of industrial control systems, which has raised the risk of cyber-attacks and infrastructure disruptions. As a result, there is a growing emphasis on enhancing OT security through increased investment, collaboration, and best practices. The market is being driven by the rising adoption of cloud-based OT security solutions, government initiatives in security standards, and the growing demand for cyber threat modeling solutions.

Supportive government policies and increased investments by public and private authorities in security standards have a positive impact on the growth of the Operational Technology Security Market. For instance, in July 2020, the release of advisories by organizations such as the National Security Agency and the Cyber Security & Infrastructure Security Agency increased awareness of cybersecurity threats and enhanced service performance and safety standards. Furthermore, in February 2023, the Technology Modernization Fund raised over USD 650 million, focusing on enhancing cybersecurity and digital services, driving the growth of global Operational Technology Security Market. Additionally, increasing connectivity of industrial operations to the Internet and rise in work-from-home activities and the widespread availability of broadband, are expected to create ample opportunities for market growth in the forecast period. However, the high cost of operational technology security stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Operational Technology Security Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the adoption of OT security solutions by government authorities and cybercrime agencies. These solutions help streamline security operations, thereby driving market expansion within the region. Asia Pacific is expected to grow significantly over the forecast period, owing to factors such as rapid industrialization, increasing cybersecurity concerns, government initiatives, digital transformation, and economic growth. The region’s expanding industrial infrastructure and rising cyber threats drive the demand for OT security solutions to protect critical operations, making it a prominent market for OT security.

Major market player included in this report are:
Cisco System, Inc.
Darktrace Holdings Limited
Kaspersky Lab
Fortinet, Inc.
Forcepoint
Microsoft Corporation
Forescout Technologies Inc.
Broadcom Inc
Palo Alto Networks Inc
Thales Group

Recent Developments in the Market:
Ø In May 2022, Broadcom acquired VMware for a significant amount of USD 1 billion. As a result, Broadcom Software Group rebranded and operated under the VMware name, incorporating Broadcom’s infrastructure and security software solutions into VMware’s portfolio.
Ø In December 2021, VMware introduced VMware Carbon Black Cloud Managed Detection and Response (MDR) to assist enterprises with limited resources in their Security Operation Centers (SOCs) by addressing the challenges posed by ever-changing threat landscapes.

Global Operational Technology Security Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Component, Deployment Mode, Organization Size, End User, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Component:
Solution
Services
By Deployment Mode:
On-Premise
Cloud
By Organization Size:
Large Enterprises
Small and Medium Enterprises
By End User:
BFSI
Manufacturing
Energy and Power
Oil and Gas
Transportation and Logistics
Others
By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Operational Technology Security Market, by Region, 2020-2030 (USD Billion)
1.2.2. Operational Technology Security Market, by Component, 2020-2030 (USD Billion)
1.2.3. Operational Technology Security Market, by Deployment Mode, 2020-2030 (USD Billion)
1.2.4. Operational Technology Security Market, by Organization Size, 2020-2030 (USD Billion)
1.2.5. Operational Technology Security Market, by End-User, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Operational Technology Security Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Operational Technology Security Market Dynamics
3.1. Operational Technology Security Market Impact Analysis (2020-2030)
3.1.1. Market Drivers
3.1.1.1. Rise in adoption of cloud-based OT security solutions
3.1.1.2. Surge in integration of government initiatives in security standards
3.1.1.3. Growing demand for cyber threat modeling solutions
3.1.2. Market Challenges
3.1.2.1. Dearth of trained security staff to analyse OT security systems
3.1.2.2. High installation cost of OT security solution
3.1.3. Market Opportunities
3.1.3.1. Rise in IIoT connectivity between industrial operations and the internet
3.1.3.2. Increased work-from-home activities widen the penetration of broadband
Chapter 4. Global Operational Technology Security Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Operational Technology Security Market, by Component
5.1. Market Snapshot
5.2. Global Operational Technology Security Market by Component, Performance – Potential Analysis
5.3. Global Operational Technology Security Market Estimates & Forecasts by Component 2020-2030 (USD Billion)
5.4. Operational Technology Security Market, Sub Segment Analysis
5.4.1. Solution
5.4.2. Services
Chapter 6. Global Operational Technology Security Market, by Deployment Mode
6.1. Market Snapshot
6.2. Global Operational Technology Security Market by Deployment Mode, Performance – Potential Analysis
6.3. Global Operational Technology Security Market Estimates & Forecasts by Deployment Mode 2020-2030 (USD Billion)
6.4. Operational Technology Security Market, Sub Segment Analysis
6.4.1. On-Premise
6.4.2. Cloud
Chapter 7. Global Operational Technology Security Market, by Organization Size
7.1. Market Snapshot
7.2. Global Operational Technology Security Market by Organization Size, Performance – Potential Analysis
7.3. Global Operational Technology Security Market Estimates & Forecasts by Organization Size 2020-2030 (USD Billion)
7.4. Operational Technology Security Market, Sub Segment Analysis
7.4.1. Large Enterprises
7.4.2. Small and Medium Enterprises
Chapter 8. Global Operational Technology Security Market, by End-User
8.1. Market Snapshot
8.2. Global Operational Technology Security Market by End-User, Performance – Potential Analysis
8.3. Global Operational Technology Security Market Estimates & Forecasts by End-User 2020-2030 (USD Billion)
8.4. Operational Technology Security Market, Sub Segment Analysis
8.4.1. BFSI
8.4.2. Manufacturing
8.4.3. Energy and Power
8.4.4. Oil and Gas
8.4.5. Transportation and Logistics
8.4.6. Others
Chapter 9. Global Operational Technology Security Market, Regional Analysis
9.1. Top Leading Countries
9.2. Top Emerging Countries
9.3. Operational Technology Security Market, Regional Market Snapshot
9.4. North America Operational Technology Security Market
9.4.1. U.S. Operational Technology Security Market
9.4.1.1. Component breakdown estimates & forecasts, 2020-2030
9.4.1.2. Deployment Mode breakdown estimates & forecasts, 2020-2030
9.4.1.3. Organization Size breakdown estimates & forecasts, 2020-2030
9.4.1.4. End-User breakdown estimates & forecasts, 2020-2030
9.4.2. Canada Operational Technology Security Market
9.5. Europe Operational Technology Security Market Snapshot
9.5.1. U.K. Operational Technology Security Market
9.5.2. Germany Operational Technology Security Market
9.5.3. France Operational Technology Security Market
9.5.4. Spain Operational Technology Security Market
9.5.5. Italy Operational Technology Security Market
9.5.6. Rest of Europe Operational Technology Security Market
9.6. Asia-Pacific Operational Technology Security Market Snapshot
9.6.1. China Operational Technology Security Market
9.6.2. India Operational Technology Security Market
9.6.3. Japan Operational Technology Security Market
9.6.4. Australia Operational Technology Security Market
9.6.5. South Korea Operational Technology Security Market
9.6.6. Rest of Asia Pacific Operational Technology Security Market
9.7. Latin America Operational Technology Security Market Snapshot
9.7.1. Brazil Operational Technology Security Market
9.7.2. Mexico Operational Technology Security Market
9.8. Middle East & Africa Operational Technology Security Market
9.8.1. Saudi Arabia Operational Technology Security Market
9.8.2. South Africa Operational Technology Security Market
9.8.3. Rest of Middle East & Africa Operational Technology Security Market

Chapter 10. Competitive Intelligence
10.1. Key Company SWOT Analysis
10.1.1. Company 1
10.1.2. Company 2
10.1.3. Company 3
10.2. Top Market Strategies
10.3. Company Profiles
10.3.1. Cisco System, Inc.
10.3.1.1. Key Information
10.3.1.2. Overview
10.3.1.3. Financial (Subject to Data Availability)
10.3.1.4. Product Summary
10.3.1.5. Recent Developments
10.3.2. Darktrace Holdings Limited
10.3.3. Kaspersky Lab
10.3.4. Fortinet, Inc.
10.3.5. Forcepoint
10.3.6. Microsoft Corporation
10.3.7. Forescout Technologies Inc.
10.3.8. Broadcom Inc
10.3.9. Palo Alto Networks Inc
10.3.10. Thales Group
Chapter 11. Research Process
11.1. Research Process
11.1.1. Data Mining
11.1.2. Analysis
11.1.3. Market Estimation
11.1.4. Validation
11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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