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Operational Technology Security Market Size, Share, Trends, COVID-19 Impact and Growth Analysis Report - Industry Forecast (2022 to 2027)

Operational Technology (OT) Security Market Size (2022-2027)

The operational technology security market size is approximately worth USD 198.0 million in 2022 and is estimated to reach USD 3,554 by 2027 at a CAGR of 44% during the forecast period.

Operational Technology is a combination of both the hardware and software that discovers and factors the change via the direct monitoring and/or control of physical devices, processes, and events in the enterprise. OT security is comprised of computer designs innovated to be used for crucial infrastructure like power, water, etc. It is designed to address the common requirements of the operational technology environments. 

Operational Technology develops and assembles with network Information Technology and the desire for OT security increases ascendingly. OT is used for controlling and monitoring devices, infrastructure, physical processes. The operational technology is found in various asset-intensive sectors, implementing a wide range of tasks from operating robots on the manufacturing site to monitoring important infrastructure. 

COVID-19 Impact on Operational Technology (OT) Security Market

SARS-CoV-2 is the cause for the sudden eruption of novel coronavirus. The virus has originated from Wuhan, China in December 2022. The virus has spread quickly to every corner of the world and still affecting millions of people. Also, small and medium enterprises and organizations were affected. The WHO has declared an emergency public health issue and has also declared lockdowns to curb the virus spread. 

Pre-COVID, the operational technology security market has experienced generous growth. But, once the virus has spread increasingly, the pandemic has disrupted the growing inclination of the market. Moreover, maintaining social distancing and following lockdown, the continuous executing period for operational technology security has risen. 

MARKET DRIVERS 

The market is driven by factors like the Industry 4.0 adoption is quickly rising and the number of cyber-attacks is fostering over the operational technology market. The demand for operational technology security is likely to surge over the period. 

MARKET RESTRAINTS

However, factors like shortage of knowledge related to the software being used in the operational technology and the cost-factor linked with the operational technology obstruct the market growth globally. 

Segmentation Analysis

The global operational technology security segment has been segmented and sub-segmented as follows:

Operational Technology (OT) Security Market - By Component

  • Solutions
  • Services

Operational Technology (OT) Security Market - By Deployment Mode

  • On-Premise
  • Cloud
  • Hybrid

Operational Technology (OT) Security Market - By Industry

  • Power and Electrical
  • Mining
  • Transportation
  • Manufacturing
  • Others

By industry, the power and electrical segment are accounted to hold the largest share in the operational technology security market. The segment retains its dominance throughout the period. The operational technology advantages meeting its infrastructure with IT network and leads in developed operational efficiency. 

Manufacturing and mining are the largest sectors with a strong growth track across the timeframe period.

Manufacturing is one of the important segments in the operational technology security market. Growing trade protection and issues about the labor cost are imploring enterprises to review the reallocation of manufacturing sites throughout the period. 

Regional Analysis

Regional-wise, North America is proposed to represent the highest share in operational technology security worldwide. Several governments have adopted regulatory agreements to safeguard data from cyber risks with the growing adoption of operational technology (OT) security solutions. 

The governments of the countries across the region have formed regulations and associations like the U.S Department of Homeland Security, Department of Defense Information Assurance Certification and Accreditation Process (DIACAP), and The National Strategy and Action Plan issued by public Safety Canada to ensure and enforce reliability standards and national security over the countries crucial infrastructures. 

The operational technology security in Europe is promised to stand as the second-largest throughout the foreseeable period. Technologies like IoT are adopted increasingly with growing employee mobility. An increase in data traffic and utilization of 5G services are the factors fostering the operational technology security market across the countries like the UK, Spain, Italy, Germany, and France. 

However, Asia-Pacific is slated to have strong growth in the operational technology security market. The organizations are constantly focusing on the extortion revelations and liability of their systems and the rising need to unite prevention operations and identify the risks. These factors drive the market to grow further. China, India, and Japan have the farthest share in the market. 

Latin America and the Middle East and African regions are anticipated to have a steady growth in the operational technology security market. 

Top key players in the Operational Technology (OT) Security Market

Accenture plc, Belden Inc., Cisco Systems, Inc., Claroty Ltd., CyberX, Cyberbit, Darktrace, Deloitte Touche Tohmatsu Limited, Bayshore Networks, Hitachi Systems Security Inc., Fortinet, Inc., OTORIO Ltd., IBM Corporation, Dragos, Inc., Indegy, IOActive Inc., Kaspersky Lab, Leidos, Thales Group, TÜV SÜD, Wurldtech Security Technologies Inc., Honeywell International Inc. (NextNine Ltd.), Nozomi Networks Inc., and NCC Group are some major players taking part in the operational technology security market. 

Notable Happenings in the global Operational Technology (OT) Security Market

  • On August 31, 2022, TUV and SUD partnered with Infosec to provide cyber technical development platforms and boot camps to their global network of proficient technology sales partners.
  • On September 01, 2022, the leader in OT and IoT security, Nozomi Networks Inc., broadcasted its products are available on the Schneider Electric Exchange. This makes the products more quick and simple for the customers to combine Nozomi Network Solutions into their existing Ecostruxure.
  • On February 04, 2022, Claroty combined with Siemens Mobility Data Capture Unit (DCU) for its ongoing Continuous Threat Detection (CTD). The collaboration provides unification of both hardware and software delivering highly-secured and one-way data flow from industrial networks to corporate IT and networks and cloud services.
  • On September 27, 2022, Moro Hub partners with Nozomi Networks for developing OT/IoT security services. 

Operational Technology Security Market – Forecast (2021-2026)

Chapter 1. Operational Technology Security Market – Scope & Methodology

1.1. Market Segmentation 

1.2. Assumptions

1.3. Research Methodology

1.4. Primary Sources

1.5. Secondary Sources

Chapter 2. Operational Technology Security Market - Executive Summary

2.1. Market Size & Forecast – (2021 – 2026) ($M/$B)

2.2. Key Trends & Insights

2.3. COVID-19 Impact Analysis

        2.3.1. Impact during 2021 – 2026

        2.3.2. Impact on Supply – Demand

        2.3.3. Impact on Production Cost

        2.3.4. Impact on Supply Chain

Chapter 3. Operational Technology Security Market – Competition Scenario

3.1. Market Share Analysis

3.2. Product Benchmarking

3.3. Competitive Strategy & Development Scenario

3.4. Competitive Pricing Analysis

3.5. Supplier – Distributor Analysis

Chapter 4. Operational Technology Security Market Entry Scenario

4.1. Case Studies – Start-up/Thriving Companies

4.2. Regulatory Scenario - By Region

4.3. Customer Analysis

4.4. Porters Five Force Model

        4.4.1. Bargaining Power of Suppliers

        4.4.2. Bargaining Powers of Customers

        4.4.3. Threat of New Entrants

        4.4.4. Rivalry among Existing Players

        4.4.5. Threat of Substitutes

Chapter 5. Operational Technology Security Market Landscape

5.1. Value Chain Analysis – Key Stakeholders Impact Analysis

5.2. Market Drivers

5.3. Market Restraints/Challenges

5.4. Market Opportunities

Chapter 6. Operational Technology Security Market, By Component

6.1. Solutions
6.2. Services

Chapter 7. Operational Technology Security Market, By Deployment Mode

7.1. On-Premise

7.2. Cloud

7.3. Hybrid

Chapter 8. Operational Technology Security Market, By Industry

8.1. Power and Electrical

8.2. Mining

8.3. Transportation

8.4. Manufacturing

8.5. Others

Chapter 9. Operational Technology Security Market, By Geography - Market Size, Forecast, Trends & Insights

9.1. North America

         9.1.1. U.S.A

         9.1.2. Canada

         9.1.3. Mexico

9.2. Europe

         9.2.1. Italy

         9.2.2. Spain

         9.2.3. Russia

         9.2.4. Germany

         9.2.5. UK

         9.2.6. France

         9.2.7. Rest of Europe

9.3. Asia Pacific

         9.3.1. Japan

         9.3.2. South Korea

         9.3.3. China

         9.3.4. India

         9.3.5. Australia & New Zealand

         9.3.6. Rest of Asia-Pacific

9.4. Rest of the World

         9.4.1. South America

         9.4.2. Middle East

         9.4.3. Africa

Chapter 10. Operational Technology Security Market - Company Profiles – (Overview, Product Portfolio, Financials, Developments)

10.1. Company 1

10.2. Company 2

10.3. Company 3

10.4. Company 4

10.5. Company 5              

10.6. Company 6

10.7. Company 7

10.8. Company 8

10.9. Company 9

10.10. Company 10

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