Operational Technology Security Market, By Component, By Industry, By Geography

Description

The operational technology security market is estimated to be valued at US$ 20.18 billion in 2024 and is expected to reach US$ 57.51 billion by 2031, exhibiting a compound annual growth rate (CAGR) of 16.1% from 2024 to 2031.

Figure 1. Operational Technology Security Market Share (%), By Region, 2024

Operational Technology Security Market - IMG1

Operational technology security refers to the practices and strategies adopted to protect industrial control systems, distributed control systems, industrial internet of things, and supervisory control and data acquisition (SCADA) systems against cyber threats and attacks. With the growing convergence of IT and OT networks in industrial infrastructure to incorporate technologies like AI, machine learning, and 5G for improving efficiency and productivity, it has become imperative for organizations to implement stringent OT security measures to safeguard critical infrastructure and prevent intrusions and breaches. The operational technology security market is driven by increasing IT/OT convergence, rising need for secure industrial infrastructure amid growing cyber incidents targeting critical facilities, and stringent government regulations for deploying safety frameworks to mitigate cyber risks.

Market Dynamics:

The global operational technology security market is primarily driven by the growing convergence of IT and OT networks to incorporate technologies like AI, machine learning, 5G, and the Industrial Internet of Things (IIoT) in industrial control systems. This convergence has expanded the attack surface for hackers, necessitating robust OT security solutions. Moreover, the increasing frequency and sophistication of cyber-attacks targeting critical infrastructure have highlighted the need for securing industrial facilities and production plants. Governments across regions have introduced stringent norms and standards mandating organizations to implement cybersecurity best practices and frameworks for minimizing vulnerabilities. However, factors such as lack of skilled security personnel familiar with ICS environments, high costs associated with upgrading legacy systems, and technical challenges in applying IT security solutions to real-time OT networks are restraining the market growth. The market is expected to witness lucrative opportunities from the increasing demand for safety compliance audits and managed security services, integration of AI/ML capabilities in solutions, and growing adoption across smart manufacturing facilities.

Key Features of the Study:

This report provides in-depth analysis of the global operational technology security market, and provides market size (US$ Billion) and compound annual growth rate (CAGR %) for the forecast period (2024-2031), considering 2023 as the base year

It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market

This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players

It profiles key players in the global operational technology security market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies

Key companies covered as a part of this study include ABB Ltd., Belden Inc., Check Point Software Technologies Ltd., Cisco Systems, Inc., Claroty Ltd., CyberX (acquired by Microsoft), Dragos Inc., FireEye, Inc., Fortinet, Inc., General Electric Company, Honeywell International Inc., IBM Corporation, McAfee, LLC, Nozomi Networks Inc., Palo Alto Networks, Inc., Rockwell Automation, Inc., Schneider Electric SE, Siemens AG, and Symantec Corporation, Tenable, Inc.

Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics

The global operational technology security market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts

Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global operational technology security market

Detailed Segmentation-

By Component
- Solution
- Services
By Industry
- Manufacturing
- Transportation & Logistics
- Energy & Utilities
- Oil & Gas Operations
- Government
- Healthcare & Pharmaceuticals
- Others
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Players Insights
- ABB Ltd.
- Belden Inc.
- Check Point Software Technologies Ltd.
- Cisco Systems, Inc.
- Claroty Ltd.
- CyberX (acquired by Microsoft)
- Dragos Inc.
- FireEye, Inc.
- Fortinet, Inc.
- General Electric Company
- Honeywell International Inc.
- IBM Corporation
- McAfee, LLC
- Nozomi Networks Inc.
- Palo Alto Networks, Inc.
- Rockwell Automation, Inc.
- Schneider Electric SE
- Siemens AG
- Symantec Corporation
- Tenable, Inc.

Product Code: CMI4457

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Component
- Market Snippet, By Industry
- Market Snippet, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- Market Opportunities
Regulatory Scenario
Industry Trend
Merger and Acquisitions
New System Launches/Approvals
Impact of COVID-19 Pandemic

4. Global Operational Technology Security Market, By Component, 2019-2031 (US$ Billion)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
Solution
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Services
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)

5. Global Operational Technology Security Market, By Industry, 2019-2031 (US$ Billion)

Introduction
- Market Share Analysis, 2024 and 2031 (%)
- Y-o-Y Growth Analysis, 2020-2031
- Segment Trends
Manufacturing
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Transportation & Logistics
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Energy & Utilities
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Oil & Gas Operations
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Government
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Healthcare & Pharmaceuticals
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)
Others
- Introduction
- Market Size and Forecast, 2019-2031, (US$ Billion)

6. Global Operational Technology Security Market, By Region, 2019-2031 (US$ Billion)

Introduction
- Market Share Analysis, By Region, 2024 and 2031 (%)
North America
- Regional Trends
- Market Size and Forecast, By Component, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Industry, 2019-2031 (US$ Billion)
- Market Share Analysis, By Country, 2024 and 2031 (%)
  - U.S.
  - Canada
Europe
- Regional Trends
- Market Size and Forecast, By Component, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Industry, 2019-2031 (US$ Billion)
- Market Share Analysis, By Country, 2024 and 2031 (%)
  - U.K.
  - Germany
  - France
  - Russia
  - Rest of Europe
Asia Pacific
- Regional Trends
- Market Size and Forecast, By Component, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Industry, 2019-2031 (US$ Billion)
- Market Share Analysis, By Country, 2024 and 2031 (%)
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
Latin America
- Regional Trends
- Market Size and Forecast, By Component, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Industry, 2019-2031 (US$ Billion)
- Market Share Analysis, By Country, 2024 and 2031 (%)
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Middle East and Africa
- Regional Trends
- Market Size and Forecast, By Component, 2019-2031 (US$ Billion)
- Market Size and Forecast, By Industry, 2019-2031 (US$ Billion)
- Market Share Analysis, By Country, 2024 and 2031 (%)
  - South Africa
  - GCC Countries
  - Rest of the Middle East and Africa

7. Competitive Landscape

ABB Ltd.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
Belden Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
Check Point Software Technologies Ltd.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
Cisco Systems, Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
Claroty Ltd.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
CyberX (acquired by Microsoft)
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
Dragos Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
FireEye, Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
Fortinet, Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
General Electric Company
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
Honeywell International Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
IBM Corporation
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
McAfee, LLC
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
Nozomi Networks Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
Palo Alto Networks, Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
Rockwell Automation, Inc.
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
Schneider Electric SE
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
Siemens AG
- Company Overview
- Product Portfolio
- Financial Performance
- Key Strategies
- Recent Developments/Updates
Symantec Corporation
Tenable, Inc.

8. Wheel of Fortune

Wheel of Fortune
Analyst View
Coherent Opportunity Map

9. Section

References
Research Methodology
About us and Sales Contact