Operational Technology Security Market by Component, Security Type, Deployment Mode, Organization Size, Industry

Description

List of Tables

[186 Pages Report] The Operational Technology Security Market size was estimated at USD 21.47 billion in 2023 and expected to reach USD 25.08 billion in 2024, at a CAGR 18.15% to reach USD 69.03 billion by 2030.

Operational technology (OT) security is the measures and controls in place to protect OT systems that use software to automate industrial processes against cybersecurity threats. OT security has evolved into a critical infrastructure management requirement as information technology converges, and OT drives greater automation and efficiency in industrial systems. Operational technology security is designed to fulfill the unique security needs of OT environments, which include protecting system availability, understanding OT-specific protocols, and blocking attacks targeting the legacy systems commonly used in OT environments. Operational technology security strategies are often detection-focused due to the prospect of false positive errors in threat prevention tools. Moreover, the increasing usage of digital technologies in the industrial sector and the rising involvement of governments in improving cybersecurity further improve the need for efficient and effective OT networks. However, substantial procurement costs, maintenance & upgradation issues, and lack of an experienced workforce for OT security solutions significantly impede the adoption of OT security solutions. In addition, the emerging need for competent and regulated security services and R&D activities to construct comprehensive OT security solutions is expected to create tremendous opportunities for growth in the operational technology security market.

KEY MARKET STATISTICS
Base Year [2023]	USD 21.47 billion
Estimated Year [2024]	USD 25.08 billion
Forecast Year [2030]	USD 69.03 billion
CAGR (%)	18.15%

Regional Insights

Several organizations in the American region are seeking innovative solutions to help protect their critical assets and networks with the increasing adoption of emerging technologies, including artificial intelligence (AI), the Internet of Things (IoT), and machine learning (ML). One key trend in the American OT security market is the shift towards a more holistic approach to cybersecurity. Instead of using disparate security solutions for different parts of their networks, organizations seek comprehensive solutions that can provide end-to-end protection. Moreover, the regulatory framework has encouraged organizations to adopt standards for governing their cybersecurity practices. The Asia-Pacific operational technology security market is experiencing significant growth, driven primarily by increasing awareness of the need for secure infrastructure as more organizations become reliant on digital systems. The increasing sophistication of cyber attacks, along with the growth of the IoT and connected devices, is accelating the growth of operational technology security in Europe. With rising threats from external actors, organizations seek solutions to protect their systems and data assets. Additionally, implementing laws and regulations such as GDPR and EU Network and Information Security (NIS) encourage greater investment in OT security measures.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Operational Technology Security Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Proliferating use of digital technologies in industrial sector
- Growing involvement of governments to improve cybersecurity
- Rising demand for efficient and effective operational technology networks

Market Restraints
- High procurement cost and maintenance & upgradation issues

Market Opportunities
- Emerging need for competent and regulated security services
- Ongoing R&D activities to construct comprehensive operational technology security solutions

Market Challenges
- Lack of skilled and experienced workforce for operational technology security solutions

Market Segmentation Analysis
- Security Type: Growing significance of database security in highly data-centric setups
- Deployment Mode: Expanding adoption of On-premise deployment mode due to data security and control

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Operational Technology Security Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Operational Technology Security Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Introducing Critical Start's MDR Services for Operational Technology

Critical Start has expanded its cybersecurity solutions by introducing Managed Detection and Response (MDR) services specifically tailored for Operational Technology (OT). This initiative is part of the company's broader Managed Cyber Risk Reduction strategy, which integrates threat analysis, vulnerability assessments, and risk management to fortify organizations' security frameworks. The Critical Start MDR for OT is designed to enhance visibility, continuous monitoring, and prompt response to cyber incidents in these specialized environments. [Published On: 2024-04-24]

Strengthening Operational Technology Security in Digital Manufacturing: A Strategic Collaboration between Mitsubishi Electric and Dispel LLC

Mitsubishi Electric Corporation has formalized a partnership with Dispel LLC to enhance security for operational technology (OT) and extend its capabilities in the sector. This collaboration aims to address the escalating security challenges associated with remote maintenance in manufacturing, exacerbated by the adoption of IoT and digital transformation trends. Remote maintenance requires reliable internet-based monitoring and troubleshooting of production lines, often at risk from cyber threats targeting communication channels. [Published On: 2024-02-19]

Wartsila partners with Tenable to solve Operational Technology (OT) asset management challenge

Wartsila Corporation, a provider of technologies and lifecycle services for the marine and energy markets, has announced its strategic partnership with Tenable, engaged in cyber exposure, vulnerability management, and compliance solutions. The move signals Wrtsil's commitment to strengthening the security of Operational Technology (OT) assets through robust asset management capabilities. With this partnership, Wartsila Corporation can identify weaknesses in OT infrastructure, remediate potential vulnerabilities, and provide customers with increased visibility into the state of their Cyber Risk Management programs. [Published On: 2023-04-14]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Operational Technology Security Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Operational Technology Security Market, highlighting leading vendors and their innovative profiles. These include Accenture PLC, AO Kaspersky Lab, Belden Inc., BeyondTrust Corporation, BlackBerry Limited, Broadcom Inc., Check Point Software Technologies Ltd., Cisco Systems, Inc., Claroty Ltd., Cyberbit Ltd., Darktrace Holdings Limited, Dragos, Inc., FireMon, LLC, Forcepoint LLC, Forescout Technologies, Inc., Fortinet, Inc., Hitachi, Ltd., Honeywell International Inc., International Business Machines Corporation, Johnson Controls International PLC, Microsoft Corporation, NCC Group, Nozomi Networks Inc., Optiv Security Inc., Palo Alto Networks, Inc., Radiflow, SentinelOne, Inc., Siemens AG, SSH Communications Security, Inc., Tenable, Inc., Thales Group, Trellix, TUV SUD AG, Waterfall Security Solutions Ltd., and Zscaler, Inc..

Market Segmentation & Coverage

This research report categorizes the Operational Technology Security Market to forecast the revenues and analyze trends in each of the following sub-markets:

Component
- Services
  - Monitoring & Detection
  - Training & Consultancy

Solutions
- Integrated Solution
- Standalone Solution

Security Type
- Application Security
- Database Security
- Endpoint Security
- Network Security

Deployment Mode
- Hybrid
- On-Cloud
- On-Premise

Organization Size
- Large Enterprises
- Small & Medium Enterprises

Industry
- Chemical & Mining
- Energy & Utilities
- Manufacturing
- Transportation

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-4B21477DA206

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Proliferating use of digital technologies in industrial sector
  - 5.1.1.2. Growing involvement of governments to improve cybersecurity
  - 5.1.1.3. Rising demand for efficient and effective operational technology networks
- 5.1.2. Restraints
  - 5.1.2.1. High procurement cost and maintenance & upgradation issues
- 5.1.3. Opportunities
  - 5.1.3.1. Emerging need for competent and regulated security services
  - 5.1.3.2. Ongoing R&D activities to construct comprehensive operational technology security solutions
- 5.1.4. Challenges
  - 5.1.4.1. Lack of skilled and experienced workforce for operational technology security solutions
5.2. Market Segmentation Analysis
- 5.2.1. Security Type: Growing significance of database security in highly data-centric setups
- 5.2.2. Deployment Mode: Expanding adoption of On-premise deployment mode due to data security and control
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Operational Technology Security Market, by Component

6.1. Introduction
6.2. Services
6.3. Solutions

7. Operational Technology Security Market, by Security Type

7.1. Introduction
7.2. Application Security
7.3. Database Security
7.4. Endpoint Security
7.5. Network Security

8. Operational Technology Security Market, by Deployment Mode

8.1. Introduction
8.2. Hybrid
8.3. On-Cloud
8.4. On-Premise

9. Operational Technology Security Market, by Organization Size

9.1. Introduction
9.2. Large Enterprises
9.3. Small & Medium Enterprises

10. Operational Technology Security Market, by Industry

10.1. Introduction
10.2. Chemical & Mining
10.3. Energy & Utilities
10.4. Manufacturing
10.5. Transportation

11. Americas Operational Technology Security Market

11.1. Introduction
11.2. Argentina
11.3. Brazil
11.4. Canada
11.5. Mexico
11.6. United States

12. Asia-Pacific Operational Technology Security Market

12.1. Introduction
12.2. Australia
12.3. China
12.4. India
12.5. Indonesia
12.6. Japan
12.7. Malaysia
12.8. Philippines
12.9. Singapore
12.10. South Korea
12.11. Taiwan
12.12. Thailand
12.13. Vietnam

13. Europe, Middle East & Africa Operational Technology Security Market

13.1. Introduction
13.2. Denmark
13.3. Egypt
13.4. Finland
13.5. France
13.6. Germany
13.7. Israel
13.8. Italy
13.9. Netherlands
13.10. Nigeria
13.11. Norway
13.12. Poland
13.13. Qatar
13.14. Russia
13.15. Saudi Arabia
13.16. South Africa
13.17. Spain
13.18. Sweden
13.19. Switzerland
13.20. Turkey
13.21. United Arab Emirates
13.22. United Kingdom

14. Competitive Landscape

14.1. Market Share Analysis, 2023
14.2. FPNV Positioning Matrix, 2023
14.3. Competitive Scenario Analysis
- 14.3.1. Introducing Critical Start's MDR Services for Operational Technology
- 14.3.2. Strengthening Operational Technology Security in Digital Manufacturing: A Strategic Collaboration between Mitsubishi Electric and Dispel LLC
- 14.3.3. Wartsila partners with Tenable to solve Operational Technology (OT) asset management challenge
- 14.3.4. Trustwave Launches Operational Technology Security Maturity Diagnostic Offering
- 14.3.5. Fortinet Expands Security Fabric for OT to Mitigate Growing Cybersecurity Threats in Industrial Environments
- 14.3.6. Strategic Alliance in Operational Technology Security: Mitsubishi Electric and Nozomi Networks Forge Path for Enhanced Cybersecurity Solutions
- 14.3.7. Optiv Launches Full Suite of Operational Technology Services
- 14.3.8. Schneider Electric and BitSight announce partnership to improve detection of Operational Technology (OT) cybersecurity exposure
14.4. Strategy Analysis & Recommendation

15. Competitive Portfolio

15.1. Key Company Profiles
15.2. Key Product Portfolio