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| Operational Technology Security Market |
Operational technology (OT) security refers to securing industrial control systems, distributed control systems, supervisory control and data acquisition systems from advanced cyber threats. OT security solutions help organizations secure crucial infrastructure and manufacturing processes from cyber threats. With the increasing integration of IT networks with OT systems and growing emphasis on remote monitoring and management, the need for OT security has increased tremendously.
The global Operational Technology Security Market is estimated to be valued at US$ 15.7 billion in 2023 and is
expected to exhibit a CAGR of 4.3% over
the forecast period 2023-2030, as highlighted in a new report published by
Coherent Market Insights.
Market key trends:
Adoption of cloud-based OT security solutions is one of the key trends driving
market growth. Cloud-based security solutions enable OT networks to benefit
from the latest security features through regular updates in the cloud without
disrupting plant operations. They also provide scalability, cost-effectiveness,
and remote monitoring and management capabilities. As cloud adoption among
organizations increases, especially post-pandemic, demand for cloud-based OT
security is also growing. With the benefits of 24/7 security, ease of
deployment and management, cloud-based solutions are gaining popularity over
on-premise security offerings in the OT security market.
Segment
Analysis
The global operational technology security market is dominated by the
industrial control systems (ICS) security sub-segment. A large number of
industries such as manufacturing, oil & gas, power, etc. rely heavily on
ICS for managing their production processes and machinery. As these systems are
increasingly being connected to other IT networks and the internet, the risk of
cyberattacks has risen significantly. To secure critical infrastructure and
minimize disruptions, companies are investing extensively in ICS security
solutions.
Key Takeaways
The global Operational
Technology Security Market Growth is expected to witness high growth.
Traditional security approaches designed for IT are not optimized for
operational technology environments. Providing threat visibility and protection
across endpoints, networks, applications and people is crucial.
Regional analysis: North America currently captures the largest share of the
operational technology security market owing to stringent regulatory standards
and rising awareness among organizations in critical infrastructure sectors.
The Asia Pacific region is poised to grow at the fastest pace in the coming
years. Countries like China, India and Japan have recognized the need to
bolster security for their industrial assets and control systems.
Key players operating in the operational technology security market are Cisco,
Honeywell, Axis Communications, Claroty, IBM, CyberX, Deloitte, Dragos,
Schneider Electric, Siemens. In June 2021, Claroty acquired Adversa to
strengthen its capabilities in vulnerability management and asset discovery for
industrial environments. Cisco acquired Sentryo in 2021 to enhance its security
portfolio for internet of things and operational technology networks.
For more insights, read- https://www.ukwebwire.com/operational-technology-security-market-trends-size-and-share-analysis/
For more details on the
report, Read- https://cmiinfopiece.blogspot.com/2024/01/plant-based-meat-market-growth.html
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