Dublin, July 17, 2023 (GLOBE NEWSWIRE) -- The "Operational Technology Security Market By Component, By Deployment Mode, By Organization Size, By End-User: Global Opportunity Analysis and Industry Forecast, 2023-2032" report has been added to ResearchAndMarkets.com's offering.
Operational Technology (OT) security refers to the protection of industrial control systems (ICS) and other operational technology used in critical infrastructure such as power plants, transportation systems, and manufacturing facilities. The purpose of OT security is to prevent unauthorized access, tampering, or disruption of these systems, which could lead to physical damage, financial loss, or even loss of life.
Rising adoption of cloud-based OT security solutions and the surge in the integration of government initiatives in security standards are driving the growth of the market. In addition, the growing demand for cyber threat modeling solutions is fueling the growth of the OT security market. However, the dearth of trained security staff to analyze OT security systems and the high installation cost of OT security solutions limit the market growth. Conversely, the rise in IIoT connectivity between industrial operations and the internet and increased work-from-home activities widen the penetration of broadband is anticipated to provide numerous opportunities for the expansion of the market during the forecast period.
The global OT security market is segmented into components, deployment mode, organization size, industry vertical, and region. Depending on the component, the market is divided into solutions and services. By deployment mode, the market is bifurcated into on-premise and cloud. By organization size, it is divided into large enterprises and small and medium-sized enterprises. As per end user, it is segmented into BFSI, manufacturing, energy & power, oil & gas, transportation & logistics, and others. Region-wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Market Players
- Thales Group
- Kaspersky Lab
- Cisco System, Inc.
- Fortinet, Inc.
- Forescout
- Broadcom Inc
- Forcepoint
- Darktrace Holdings Limited
- Microsoft Corporation
- Palo Alto Networks Inc
Market Dynamics
Drivers
- Rise in adoption of cloud-based OT security solutions
- Surge in integration of government initiatives in security standards
- Growing demand for cyber threat modeling solutions
Restraints
- Dearth of trained security staff to analyze OT security systems
- High installation cost of OT security solution
Opportunities
- Rise in IIoT connectivity between industrial operations and the internet
- Increased work-from-home activities widen the penetration of broadband
Key Benefits
- The study provides an in-depth analysis of the global OT security market forecast along with the current & future trends to explain the imminent investment pockets.
- Information about key drivers, restraints, & opportunities and their impact analysis on global OT security market trends is provided in the report.
- Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the market from 2022 to 2031 is provided to determine the market potential.
Key Market Segments
By Component
- Solution
- Services
By Deployment Mode
- On-Premise
- Cloud
By Organization Size
- Large Enterprises
- Small and Medium Enterprises (SMEs)
By End-User
- Manufacturing
- Energy and Power
- Oil and Gas
- BFSI
- Transportation and Logistics
- Others
By Region
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- LAMEA
- Latin America
- Middle East
- Africa
For more information about this report visit https://www.researchandmarkets.com/r/909igb
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