Global Operational Technology Security Market is Projected to Reach a Valuation of USD 24,092.7 Billion by 2026: MRFR

The global operational technology security market generated a revenue of USD 13,740.3 billion in 2019 and is expected to reach a market value of USD 24,092.7 billion by 2026, growing at an 8.2% CAGR. In this report, Market Research Future (MRFR) includes the segmentation and dynamics of the market to offer a better glimpse of the market in the coming years.

The operational technology security market comprises major sub-segments, including OT endpoint security, OT network segmentation, anomaly detection, incident response, and reporting, and others. OT endpoint security solutions can be applied in control systems in both corporate IT firms and industrial settings. OT zone segmentation is an effective way of mitigating perimeter breaches and prevent intentional and accidental OT and IoT cyber incidents from spreading. Anomaly detection involves enabling proactive incident response by giving the incident response team the ability to hunt for potential risks proactively.

Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/8189

Segmental Analysis

The global operational technology security market has been segmented based on component, deployment, end-use industry, and region.

By component, the operational technology security market has been divided into solution and services. The solution segment accounted for the larger market share of 66.7% in 2019, with a market value of USD 9,166.0 million; it is expected to register the higher CAGR of 8.34% during the forecast period. The services segment was valued at USD 4,574.3 million; it is projected to exhibit a CAGR of 7.83%. Operational technology (OT) is a set of hardware and software that detects anomalies in the physical devices and is involved in the monitoring and controlling processes and events in the enterprise. OT security solution is commonly used in industrial control systems (ICS) such as SCADA systems. OT security solutions are also used to control power stations and public transportation. Identifying threat activity at this architectural level is relatively straightforward given that dwell time is high, threat actors often leave visible traces, and there are many sophisticated security tools, services, and other capabilities designed to detect this activity.

Based on deployment, the global operational technology security market is segmented based on on-premises, cloud, and hybrid deployments. The on-premise segment accounted for the largest market share of 47.9% in 2019, with a market value of USD 6,578.1 million; it is expected to register a CAGR of 7.37% during the forecast period. The hybrid segment was the second-largest market in 2019, valued at USD 4,924.0 million; it is projected to register the highest CAGR of 9.68%. Along with changing Industry 4.0 trends and the convergence of IT and operational technology (OT) environments, ICS infrastructure is becoming more connected to the outside world to enable production analytics and optimization. This requires converging IT and OT monitoring, security, and remote and on-premises access control capabilities. Many organizations are considering network-access-control (NAC) technology to bridge the gap between service providers and users, offering users with superior device visibility and threat response. This also allows enterprises to anticipate and control how ICS devices are securely accessed. Enterprises in the manufacturing and other industry verticals deploy advanced security systems that comply with their existing on-premises and cloud infrastructure. Cloud services for industrial automation promise significant benefits to industrial enterprises while dramatically increasing industrial attack surfaces. The emerging trend of the Industrial Internet of Things (IIoT) consists of edge industrial devices that are connected to the cloud systems on the Internet. A hybrid cloud is an infrastructure, which an organization can use to bridge cloud and on-premises environments. A hybrid cloud enables organizations to leverage different cloud and on-premises environments. This type of deployment avoids vendor lock-in and enables higher flexibility and availability to enterprises.

The power & electrical segment of the end-use industry in operational technology security accounted for the largest market share of 32.7% in 2019, with a market value of USD 4,449.8 million; it is projected to register an 8.82% CAGR during the forecast period. The manufacturing segment was the second-largest market in 2019, valued at USD 3,088.4 million; it is projected to register the highest CAGR of 9.96%.

Competitive Analysis

The key players operating in the global operational technology security market are VMware, Inc (US), Honeywell International Inc (US), Schneider Electric (France), Cisco Systems, Inc. (US), Broadcom (US), Kaspersky Lab (Russia), General Electric (US), Rockwell Automation, Inc. (US), PAS Global LLC. (US), Fortinet, Inc. (US), Palo Alto Networks (US), Darktrace (UK), and Forescout Technologies Inc. (US).

Regional Analysis

Globally, the operational technology security market has been categorized into five different regions—North America, Europe, Asia-Pacific, Middle East & Africa, and South America. North America is expected to dominate the global operational technology security market throughout the forecast period owing to the presence of advanced connectivity infrastructure and the rising need for network virtualization. Overall, the North America operational technology security market is driven by the continuous demand for such services from multinational companies.

The operational technology security market in North America is growing primarily due to the increasing investments by key market players such as VMware, Inc (US), Honeywell International Inc (US), Cisco Systems, Inc. (US), Broadcom (US), General Electric (US), Rockwell Automation, Inc. (US), PAS Global LLC. (US), Fortinet, Inc. (US), Palo Alto Networks (US), Darktrace (UK), and Forescout Technologies Inc. (US). The region is a global hub for operational technology security. Furthermore, North America is expected to dominate the global operational technology security market throughout the forecast period owing to the presence of advanced connectivity infrastructure and the rising need for network virtualization. Overall, the North America operational technology security market is driven by the continuous demand for such services from multinational companies.

Browse Complete Report @ https://www.marketresearchfuture.com/reports/operational-technology-security-market-8189

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.