USD 17.2 billion
Operational Technology Security Market Size, Share, Growth Analysis, By Offering (Solutions, Services), By Deployment Mode (Cloud, On-premises), By Organization Size, By Vertical, By Region - Industry Forecast 2025-2032
Report ID:
SQMIG45J2120 |
Region:
Global |
Published Date: December, 2024
Pages:
197
|Tables:
89
|Figures:
76
Operational Technology Security Market Insights
Operational Technology Security Market size was valued at USD 22.91 Billion in 2023 and is poised to grow from USD 30.52 Billion in 2024 to USD 302.39 Billion by 2032, growing at a CAGR of 33.20% during the forecast period (2025-2032).
The global operational technology security industry is experiencing swift expansion due to factors such as the growing convergence of IT and OT networks, which amplifies the vulnerability of OT systems to cyberattacks. The increasing complexity of cyber attackers has resulted in more frequent and effective targeting of the OT systems. The primary goals of OT security include upholding the safety and reliability of industrial operations, protecting critical infrastructure from cyber threats, and ensuring compliance with regulatory requirements.
The global operational technology security market growth is propelled by integrating government initiatives into security standards and the increasing adoption of cloud-based OT security solutions. Cloud-based solutions offer scalability, flexibility, and cost-effectiveness compared to the traditional on-premises alternatives. These initiatives raise awareness and foster the demand for effective OT security solutions safeguarding critical infrastructure. The market is propelled by the rising embrace of Industry 4.0, which depends on sophisticated technologies such as AI, big data, and IoT, demanding real-time data gathering and analysis capabilities from OT systems.
US Operational Technology Security Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Large Enterprises
Fastest Growth
SMEs
Growth Rate
33.20% CAGR
Global Operational Technology Security Market ($ Bn)
Country Share for North America Region (%)
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Operational Technology Security Market Segmental Analysis
Global Operational Technology Security Market is segmented by Offering, Deployment Mode, Organization Size, Vertical, and Region. Based on Offering, the market is segmented into Solutions, and Services. Based on Deployment Mode, the market is segmented into Cloud, and On-premises. Based on Organization Size, the market is segmented into SMEs, and Large Enterprises. Based on Vertical, the market is segmented into Transportation & Logistics, Manufacturing, Energy & Power, and Oil & Gas. Based on Region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa.
Analysis by Component
As per the global operational technology security market forecast, the solutions segment led the market, accounting for over 76% of the global revenue in 2023. The largest market share of the market can be attributed to organizations' rising inclination towards adopting OT security solutions to safeguard their critical infrastructure against cyberattacks. The market is frequently characterized by two foremost types of OT security solutions, namely standalone and included platform. Integrated platform solutions encompass a comprehensive suite of OT security products and services designed to work seamlessly collectively, providing a unified and complete method to addressing OT protection demanding situations. In contrast, standalone solutions entail individual OT security products or services that can be procured and implemented separately, often proving cost-effective for the organizations seeking specific security solutions.
The services segment is predicted to witness significant growth during the forecast period. The growth can be attributed to organizations outsourcing their OT security needs to third-party providers. OT security services comprise monitoring, incident detection and response, and training and consulting services. Training and consulting services plays a crucial role by educating organizational personnel about optimal OT security practices and assisting in successfully deploying efficient OT security solutions. Service providers are expanding their capabilities to offer tailored solutions that address the unique requirements of different industries and assist organizations in developing robust OT security strategies.
Analysis by Organization Size
As per the global operational technology security market analysis, the large enterprises segment dominates. The largest share of the market can be attributed to the complex and crucial nature of their operational technology (OT) landscapes, which attract cyber threats. These enterprises possess interconnected OT systems that enable attackers to move laterally within networks with ease. Additionally, their numerous remote access points provide fertile ground for exploitation. The drive for cyber attackers is heightened by high-value proprietary data and intellectual property within these organizations. Furthermore, the consequences of a data breach for large enterprises were more substantial, encompassing financial implications and disruptions in operations. Thus, these enterprises invested considerably in OT security to safeguard against such risks.
The SMEs segment is anticipated to grow significantly in the upcoming years. There are numerous small and medium-sized businesses in nearly every country. SMEs prefer the more affordable option owing to their limited financial resources. These organizations are increasingly seen as attractive targets, so their vulnerability contributes to the rising threat landscape. Thus, SMEs are expected to invest substantially in enhancing their OT security infrastructure due to this vulnerability. Despite SMEs limited financial resources, the market is expected to expand due to the increasing scalability of OT security solutions, widespread accessibility, and cloud-based deployments.
Global Operational Technology Security Market By Organization Size (%)
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Operational Technology Security Market Regional Insights
As per the global operational technology security market outlook, North America dominated the market, accounting for 41% of global revenue in 2023 with the global operational technology security market outlook. The growth of the North America region is attributed to the advanced technological infrastructure, crucial infrastructure and extended call for strong security features. North America, exemplified by infrastructure importance of the North American Electricity Reliability Corporation (NERC) issued through safety standards (CIP). This regulation mandating comprehensive OT safety measures plays an important role in raising awareness of the importance of OT safety in the North American region.
Asia Pacific is the fastest growing region as it is home to the world's fastest-growing economies such as China, India, and Indonesia, actively channeling investments into automation and digitization. This fuels the adoption of the OT solutions, which are pivotal for overseeing critical infrastructure such as power plants, water treatment facilities, and transportation systems. As the need for OT solutions increases, the demand for OT security also increases. Moreover, growing awareness of OT security risks is compelling organizations throughout the Asia Pacific to invest in solutions to safeguard their critical infrastructure against potential cyber-attacks.
Global Operational Technology Security Market By Geography
- Largest
- Fastest
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Operational Technology Security Market Dynamics
Operational Technology Security Market Drivers
Increasing Adoption of Digital Technologies
-
The increasing adoption of digital technologies in the industrial sector is providing the required OT security, aimed at protecting technology control systems from unauthorized access, disruption and possible damage. Ensuring security and preventing cybercriminals from exploiting vulnerabilities, maintaining the continuity of critical industrial processes such as manufacturing and power generation.
Increasing Threats on the OT Environment
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Operational technology security has witnessed a profound transformation, with the convergence of IT (Information Technology) and OT systems commencing new avenues for efficiency and innovation in latest years. However, this convergence has also introduced unprecedented cybersecurity demanding situations as OT environments emerge as increasingly more interconnected and exposed to cyber threats.
Operational Technology Security Market Restraints
High Procurement Costs
-
The OT safety requirements require robust multi-component authentication to ensure simplest legal people have physical and logical access to critical assets. Implementing robust OT safety features frequently requires full-size investments in economic sources, time, and understanding, that could deter some organizations from adopting complete security solutions.
Lack of Skilled Cybersecurity Professionals
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One significant restraint of the market is the lack of professional cybersecurity professionals with knowledge in operational security. The biggest obstacle in industry infrastructure protection is the need for more security professionals. The shortage of skilled professionals poses challenges for organizations in implementing and managing effective OT security measures.
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Operational Technology Security Market Competitive Landscape
The operational technology security market is witnessing tremendous growth, driven by increasing cyber threats to critical infrastructure and the increasing complexity of implementation of industrial systems. Leading manufacturers such as Claroti, Dragos, Nozomi Networks, Fortinet and Siemens dominate the market by offering a range of OT-specific security solutions, including intrusion detection, vulnerability systems planning, threat intelligence and real-time monitoring.
Top Player’s Company Profiles
- Fortinet
- Cisco
- Tenable
- Seckiot
- Check Point
- Broadcom
- Trellix
- Microsoft
- Okta
- Palo Alto Networks
- Qualys
- Zscaler
- CyberArk
- Rapid7
- Kaspersky
- SentinelOne
- Thales
- Armis
- Darktrace
- Nozomi Networks
- Honeywell
Recent Developments
- In October 2023, Dragos Inc. announced the expansion of its combined capabilities in partnership with Rockwell Automation. With this expansion, Rockwell will make the Dragos platform available to organizations for enhanced ICS/OT cybersecurity threats, delivering world-class deployment and support capabilities to help customers to mobilize their security investments.
- In July 2023, Stellar Cyber launched XDR for the Operational Technology (OT) environment. This innovation enhances their Open XDR Platform, providing organizations with an integrated solution to detect, analyze and respond to threats across IT and OT networks.
- In June 2023, L&T Technology Services Ltd. and Palo Alto Networks acted as a managed security service partner (MSSP) for OT security offerings.
Operational Technology Security Key Market Trends
- Increasing Adoption of AI-powered Security Solutions: The market is on the brink of transformation with the rise of AI-powered security solutions. These solutions offer a transformative advantage over traditional methods. AI can automate threat detection and response, swiftly identifying and combating cyberattacks that might evade human vigilance by continuously analyzing massive amounts of data from OT systems.
- Rising Need for Advanced Threat Detection: The increasing complexity of the technical control systems has created a need for secure and reliable OT systems to protect the integrity and performance of these complex networks. This exchange strengthens their Open XDR Platform, providing organizations with an incorporated solution to perceive, examine and manage threats across IT and OT networks.
Operational Technology Security Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
According to SkyQuest analysis, the global operational technology security industry is growing rapidly as organizations increasingly focus on protecting critical infrastructure and industrial control systems (ICS) from cyber threats. OT security involves protecting the hardware and software systems that monitor and control physical processes in industries such as construction, energy, transportation, and logistics. The increase in cyberattacks targeting OT environments, which can cause significant operational disruption, data theft and security risks, is driving the demand for robust security solutions. However, challenges such as the complexity of securing existing legacy OT systems, the lack of experienced cybersecurity professionals, and the overlapping of IT and OT systems pose significant limitations. Increasing integration of the Internet of Things (IoT) devices in technology, shift towards digitization and smart manufacturing, increasing awareness of vulnerabilities in existence of OT systems are key market factors.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 17.2 billion |
| Market size value in 2031 | USD 227.02 billion |
| Growth Rate | 33.20% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Operational Technology Security Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Operational Technology Security Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Operational Technology Security Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Operational Technology Security Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Operational Technology Security Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Operational Technology Security Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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