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Operational
Technology Security Market Share, Trends and Forecast to 2028
The global Operational
Technology (OT) Security Market size is expected to grow from an estimated value of USD 17.9
billion in 2023 to 38.2 billion USD by 2028, at a Compound Annual Growth Rate
(CAGR) of 16.3% from 2023 to 2028, according to news
research report by MarketsandMarkets™
Some factors driving
the market growth include the rising demand for Industry 4.0 and smart
infrastructure and the convergence of OT and IT infrastructure to fuel OT
security market growth.
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Major vendors in the
global OT security market include Broadcom (US), Cisco (US), Fortinet (US),
Forcepoint (US), Forescout (US), Trellix (US), Zscaler (US), Darktrace (UK),
CyberArk (US), BeyondTrust (US), Microsoft (US), Kaspersky (Russia), Nozomi
Networks (US), Rapid7 (US), Checkpoint (Israel), Okta (US), Palo Alto Networks
(US), Qualys (US), Radiflow (US), SentinelOne (US), Sophos (UK), Tenable (US),
Thales (France), Tripwire (US), Armis (US), Seckiot (France), Siga OT Solutions
(Israel), OPSWAT (US), Claroty (US), Cydome (Israel), Dragos (US), Mission
Secure (US), Ordr (US), runZero (US), Scadafence (US) and Sectrio (US).
By deployment mode,
the On-Premises segment is projected to hold the largest market share during
the forecast period.
The operational
technology (OT) security market can be classified based on deployment into two
main segments: cloud and on-premises, per business requirements. These
deployment options offer distinct advantages and considerations for
organizations seeking to secure their critical infrastructure from cyber
threats. The cloud deployment mode of OT security solutions provides
enterprises with cloud-based solutions that offer speed, scalability, and
enhanced OT security. As more applications are deployed in the cloud, there is
an increase in the need for cloud-based OT security solutions among SMEs and
large enterprises. The on-premises deployment mode enables organizations to
control all OT security solutions, such as NGFWs, threat investigation,
antivirus/antimalware protection, and next-generation intrusion prevention
systems.
By verticals, the
manufacturing segment holds a larger market size during the forecast period.
OT security
solutions are being implemented across various verticals, such as
manufacturing, energy & power (generation), oil & gas (distribution),
transportation, and logistics. Among the verticals, the manufacturing vertical
dominates the OT security solutions market size. The increasing attacks on the
manufacturing vertical imply a crucial need for companies with OT
infrastructure responsibility to secure the endpoints of their OT systems and
networks. The drivers for market size growth of OT security solutions include
the requirement of OT security solutions and services to help organizations
overcome operational challenges and overcome the challenges associated with the
cost of supplies and increased cost of inventory management, resulting in the
increment of OT security solutions demand in the market.
By region, Asia
Pacific is to grow at the highest CAGR during the forecast period.
The OT security
market is categorized into the following regions: Americas, Europe, Asia
Pacific, and Middle East and Africa. During the forecast period, the Asia
Pacific region is expected to exhibit the most rapid growth, measured by its
Compound Annual Growth Rate (CAGR). This growth can be attributed to the swift
adoption of OT solutions in emerging economies in Asia, including India, China,
Japan, and other countries. Effective government regulations and advancements
in technology drive this adoption. The growth of OT solutions in the region is
fueled by several factors, such as a surge in investments in security solutions
to protect ICS/SCADA systems against cyber threats and advancements in
technologies such as artificial intelligence, machine learning, and advanced
analytics. Many organizations in the Asia Pacific region recognize the
significance of OT security for safeguarding their business operations and draw
lessons from developed countries in the Americas and Europe. These factors
collectively contribute to the Asia Pacific region experiencing the highest
CAGR growth among all the regions in the OT security market.
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