Operational Technology (OT) Security Market Revenue, Trends Analysis, expected to Grow 14.93% CAGR, Growth Strategies and Future Outlook 2030: MarkNtel Advisors

Market Insights

As per recent research by MarkNtel Advisors, The Global Operational Technology (OT) Security Market size is valued at USD 19.84 billion in 2023 and is projected to reach USD 58.45 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 14.93% during the forecast period, i.e., 2024-30.

Global Operational Technology (OT) Security Market Driver:

Rising Cybersecurity Threats Amplifying the Demand for OT Security Solutions – Over the past few years, several industries have transitioned towards digital platforms and started providing online services. As per the statistics by the GoDaddy Data Observatory, in 2023, more than 55% of the smaller businesses and around 71% of the larger enterprises have started using online platforms to provide services to consumers. These companies store the information related to the finances & the customers in their cloud servers. However, with the evolution of technology, the number of cyberattack incidents has also increased. Based on the statistics by IBM, a tech-based company, data breaches across the globe rose by 72% during 2021-2023, compromising the critical information of the organizations as well as customers. Therefore, to ensure the safety of the data, enterprises are increasingly adopting these security solutions, amplifying the market growth.

Also, the official governing bodies across the globe are recognizing the importance of data security & privacy. Therefore, the authorities are laying regulations that are mandating organizations to integrate security solutions within their digital ecosystems. Thus, compliance with these safety standards will continue to boost the requirement for OT security solutions in the coming years.

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Market Segmentation and Consumer Behavior:

By Offering

Solutions – Market Size & Forecast 2019-2030, USD Million
- Security Information & Event Management (SIEM)- Market Size & Forecast 2019-2030, USD Million
- Asset Management – Market Size & Forecast 2019-2030, USD Million
- Network Segmentation & Isolation – Market Size & Forecast 2019-2030, USD Million
- Access Control & Identity Management- Market Size & Forecast 2019-2030, USD Million
- Vulnerability Management- Market Size & Forecast 2019-2030, USD Million
- Incident Response & Management- Market Size & Forecast 2019-2030, USD Million
- Data Protection & Encryption- Market Size & Forecast 2019-2030, USD Million
- Others- Market Size & Forecast 2019-2030, USD Million
Services – Market Size & Forecast 2019-2030, USD Million
- Managed Security Services- Market Size & Forecast 2019-2030, USD Million
- Consulting & Advisory Services- Market Size & Forecast 2019-2030, USD Million
- Training & Education- Market Size & Forecast 2019-2030, USD Million
- Consulting Services- Market Size & Forecast 2019-2030, USD Million
- Integration Services- Market Size & Forecast 2019-2030, USD Million
- Support & Maintenance- Market Size & Forecast 2019-2030, USD Million

By Deployment

Cloud – Market Size & Forecast 2019-2030, USD Million
On-Premise- Market Size & Forecast 2019-2030, USD Million

By Enterprise Size

Large Enterprises – Market Size & Forecast 2019-2030, USD Million
Small & Medium Enterprises- Market Size & Forecast 2019-2030, USD Million

By End Users

Energy & Utilities – Market Size & Forecast 2019-2030, USD Million
Oil & Gas – Market Size & Forecast 2019-2030, USD Million
Manufacturing- Market Size & Forecast 2019-2030, USD Million
Transportation and Logistics – Market Size & Forecast 2019-2030, USD Million
Mining- Market Size & Forecast 2019-2030, USD Million
Healthcare – Market Size & Forecast 2019-2030, USD Million
Others (Building & Construction, Military, etc.)- Market Size & Forecast 2019-2030, USD Million

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Operational Technology (OT) Security Market Geographical Analysis:

By Region:

North America
South America
Europe
The Middle East & Africa
Asia-Pacific
Rest of the World

Key Players and Competitive Strategies in the Operational Technology (OT) Security Market

Several prominent players dominate the Operational Technology (OT) Security Market, including:

Fortinet, Inc.
AO Kaspersky Lab
Cisco Systems, Inc.
Forcepoint
Thales
Palo Alto Networks
Broadcom
Rockwell Automation
Forescout
Honeywell International Inc.
Darktrace Holdings Limited
Microsoft
Nozomi Networks
International Business Machines Corp.
Qualys, Inc.

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Questions Addressed in this Study

1.What factors are driving the Operational Technology (OT) Security Market growth?

2.How is the Operational Technology (OT) Security Market expected to grow over the next five years?

3.What are the key insights into the current trends in the Operational Technology (OT) Security Market?

4.What is the current size of the Operational Technology (OT) Security Market, and how is it projected to change in the future?

5.What is the future outlook for the Operational Technology (OT) Security Market in terms of technological advancements and market expansion?

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