Operational Technology (OT) Security Market by Offer, Mode of Deployment, Organization Size, Verticals, and Region

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Global Operational Technology (OT) Security Market

Global Operational Technology (OT) Security Market

Global Operational Technology (OT) Security Market

Dublin, Oct. 20, 2022 (GLOBE NEWSWIRE) — The “Global Operational Technology (OT) Security Market by Offering (Solutions & Services), Mode of Deployment, Organization Size (SME & Large Enterprise), Verticals (BFSI, Manufacturing, Energy & Power, Oil & Gas ) and region – forecast until 2027″ report has been added to from ResearchAndMarkets.com offer.

The global OT security market size is expected to grow from an estimated value of USD 15.5 billion in 2022 to USD 32.4 billion by 2027, at a compound annual growth rate (CAGR) of 15.8% from 2022 to 2027.

By offers, services are to grow at the highest CAGR during the forecast period

The global OT security market by offering has been segmented into solutions and services. The need for OT solutions is increased globally by the use of cloud computing and the expansion of virtualization across industries. Organizations’ OT security policies for endpoint protection are bolstered by OT security, which also provides perimeter protection and blocks network access for malicious users.

The services offered by OT security have become essential to manage and integrate solutions into all business operations. With the help of these services, organizations can manage and keep OT security solutions running smoothly over time. These factors are driving the growth of the service segment in OT security offerings and hence, the service segment is expected to register a higher CAGR during the forecast period.

By organization size, large enterprises account for larger market size over the forecast period

According to the size of the organization, companies are classified into large enterprises and small and medium-sized enterprises (SMEs). Companies with more than 1,000 employees are considered large companies. OT security solutions are being adopted at a high level by large enterprises around the world to secure their critical assets. These solutions are adopted by large organizations primarily to protect networks, data centers, endpoints, devices, users, and applications from unofficial uses and malicious ransomware attacks.

The expansion of the OT security market in large organizations is expected to be driven by the availability of financial resources and massive infrastructure to protect key assets from potential data thefts and cyber attacks. These factors are driving the growth of OT Security Solutions among major companies registering higher market size during the forecast period.

By vertical, the energy and power vertical (production) is expected to grow at the highest CAGR during the forecast period

OT security solutions are implemented in verticals, such as BFSI, manufacturing, energy and power (production) and oil and gas (distribution). OT security solutions are widely adopted by the energy and power vertical markets. The various factors driving the need for OT security solutions in the energy and power industries include a growing problem of cyber attacks on power grids, resulting in long power outages until systems are restored , which adds up to huge financial losses.

Therefore, it is crucial for economies and communities to secure energy and power infrastructure through the use of OT solutions. 80% of the country’s energy infrastructure provides fuel to the transport sector, electricity to homes and businesses, and other sources of energy essential for growth and production across the country, the Energy and electricity are the most important infrastructure, according to US CISA data.

Terrorist attacks on energy and electricity facilities can be devastating to people’s lives and cause political instability in a country. These factors tell us the importance of using OT security solutions in the energy and power industry vertical and therefore, the industry vertical is expected to grow at the highest CAGR during the period of forecast.

Main topics covered:

1. Introduction

2 Research methodology

3 Executive summary

4 premium previews
4.1 Attractive Opportunities in the Operational Technology Security Market
4.2 Market, by offer, 2022
4.3 Market, by Region, 2022-2027
4.4 Market, by Vertical, 2022-2027
4.5 Market Investment Scenario

5 Market Overview and Industry Trends
5.1 Presentation
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Increased use of digital technologies in industrial systems
5.2.1.2 Strict Government Regulations Related to Cip to Drive Adoption of Ot Security Solutions
5.2.1.3 Convergence of IT and Ot systems to fuel the growth of Ot security
5.2.2 Constraints
5.2.2.1 High Procurement Costs of Ot Security Solutions
5.2.2.2 Emerging Challenges in Maintaining and Upgrading OT Security Solutions
5.2.3 Opportunities
5.2.3.1 Rise in Demand for Professional and Managed Security Services
5.2.3.2 R&D Investments by Governments and Enterprises to Develop Robust Ot Security Solutions for Critical Infrastructure Protection
5.2.3.3 Growing Need to Secure OT Networks
5.2.4 Challenges
5.2.4.1 Lack of trained security analysts to analyze Ot security systems
5.2.4.2 Lack of awareness of Ot security techniques
5.3 Ecosystem
5.4 Technology Analysis
5.5 Pricing and regulatory landscape
5.6 Patent Analysis
5.7 Value chain
5.8 Price Analysis
5.9 Porter’s Five Forces Analysis
5.10 Use cases
5.10.1 Use case 1: Armis helped Allegro Microsystems discover thousands of networked devices
5.10.2 Use Case 2: Electric and water utility organization partnered with Dragos to improve operational technology visibility and reduce risk
5.10.3 Use Case 3: Mission Secure helped a North American intermediary service provider improve cybersecurity and operational technology performance
5.11 Trends and disruptions affecting customers
5.12 Key Players and Purchase Criteria
5.12.1 Main players in the purchasing process
5.13 Key Conferences and Events in 2022-2023

6 Operational Technology Security Market, By Offering
6.1 Presentation
6.2 Workarounds
6.2.1 Solutions: market drivers
6.2.2 Integrated platform
6.2.3 Standalone tools
6.3 Services
6.3.1 Services: Drivers of the Operational Technology Security Market
6.3.2 24/7 monitoring, incident detection and response
6.3.3 Training and advice
6.3.4 Other Services

7 Operational Technology Security Market, By Mode of Deployment
7.1 Presentation
7.2 Cloud
7.2.1 Cloud: market drivers
7.3 On-site
7.3.1 On-site: market drivers

8 Operational Technology Security Market, By Organization Size
8.1 Presentation
8.2 Small and medium enterprises
8.2.1 Small and Medium Enterprises: Market Drivers
8.3 Large companies
8.3.1 Large enterprises: market drivers

9 Operational Technology Security Market, By Vertical
9.1 Presentation
9.2 Bfsi
9.2.1 Bfsi: market drivers
9.3 Manufacturing
9.3.1 Manufacturing: Market Drivers
9.4 Energy and electricity (production)
9.4.1 Energy and Power (Generation): Operational Technology Security Market Drivers
9.5 Oil and gas (distribution)
9.5.1 Oil and Gas (Distribution): Market Drivers
9.6 Other vertical markets

10 Operational Technology Security Market, by Region

11 Competitive landscape
11.1 Overview
11.2 Market Assessment Framework
11.3 Major Players Revenue Analysis
11.4 Major Market Players Market Share Analysis
11.5 Historical Revenue Analysis
11.6 Ranking of Major Market Players
11.7 Quadrant for Assessment of Key Companies
11.7.1 Stars
11.7.2 Emerging Leaders
11.7.3 Ubiquitous Players
11.7.4 Participants
11.8 Competitive Benchmarking
11.8.1 Key Business Evaluation Criteria
11.8.2 Criteria for evaluating SMEs/Startups
11.9 SME/Startup Assessment Quadrant
11.9.1 Progressive companies
11.9.2 Sensitive companies
11.9.3 Dynamic companies
11.9.4 Starting Blocks
11.10 Competitive Scenario and Trends
11.10.1 New Product Launches and Product Improvements
11.10.2 Offers

12 company profiles
12.1 Key Players
12.2 Top Five Key Players
12.2.1 Fortinet
12.2.2 Strength point
12.2.3 Cisco
12.2.4 Tenable
12.2.5 Precursor
12.3 Other Key Players
12.3.1 Checkpoint
12.3.2 Broadcom
12.3.3 Fireeye (mesh)
12.3.4 Microsoft
12.3.5 Octa
12.3.6 Palo Alto Networks
12.3.7 Qualys
12.3.8 Z-scale
12.3.9 Beyond Trust
12.3.10 Cyberark
12.3.11 Quick7
12.3.12 Sophos
12.3.13 Tripwire
12.3.14 Radiflow
12.3.15 Kaspersky
12.3.16 Sentinel
12.3.17 Thales
12.3.18 Bayshore Networks (Opswat)
12.4 SME actors
12.4.1 Clarity
12.4.2 Draco
12.4.3 Scad Defense
12.4.4 Weapons
12.4.5 Nozomi Networks
12.4.6 Dark Trace
12.5 Novice Players
12.5.1 Cydom
12.5.2 Mission Secure
12.5.3 Command
12.5.4 Rumble Inc.
12.5.5 Siga (OT Solutions)

13 adjacent markets

14 Appendix

For more information on this report, visit https://www.researchandmarkets.com/r/nwpsb1

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Aubrey L. Morgan