14.93% CAGR Expected: Operational Technology (OT) Security Market to Hit USD 19.84 billion in 2023

Global Operational Technology (OT) Security Market Overview:

MarkNtel Advisors has recently published a detailed research report on the Global Operational Technology (OT) Security Market. The report is specifically tailored to offer valuable insights and support for clients navigating this dynamic market. It focuses on key objectives such as predicting trends, gaining a profound understanding of market perspectives, identifying strategic investment opportunities, and evaluating potential business partners.

Operational Technology (OT) Security Market Insights and Analysis

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. Our comprehensive report provides a thorough examination of market players, opportunities, and valuable insights, equipping our clients with the indispensable information needed to make well-informed decisions within this dynamically evolving environment.

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Insights into Dominant Segments in the Operational Technology (OT) Security Market

By analysing each Segments, including

-By End Users

Energy Utilities
Oil Gas
Manufacturing
Transportation Logistics
Telecommunications
Healthcare
Others (Building Construction, Military, etc.)

The Energy Utilities sector captured a major market share and is projected to grow further in the upcoming years as well. In the past few years, several renewable energy projects have been announced across the globe, specifically in European and Asia-Pacific regions. These projects have been in line with the efforts of governments across the globe toward net-zero carbon emissions. These upcoming renewable energy power plants would be based on hydropower, wind energy, etc.

Furthermore, in recent years, the energy sector has been actively adopting several operational technology solutions like asset management, access control, and incident response solutions. This is primarily to manage the operational efficiency of their facilities. Hence, with the upcoming renewable energy power plants, the adoption of these solutions would grow further, which would necessitate the need for operational technology security solutions in the coming years. Thus, a shift toward sustainability would act as a substantial market driver in this segment in the forecast years.

-By Offering

Solutions - Market Size Forecast 2019-2030, USD Million
Services - 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

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Operational Technology (OT) Security Market Geographical Reach:

The Operational Technology (OT) Security Market Geographical Reach assesses the distribution and prominence of consumption, highlighting regions that dominate in terms of market size, volume, and promising future growth prospects.

-By Region

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

Clients can concentrate their investments on the segments that present the most favourable prospects. This strategic methodology empowers clients to fine-tune their investment portfolio and attain enduring growth within the Operational Technology (OT) Security market.

Current Landscape of Operational Technology (OT) Security Market

The key players profiled in the research report are

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.
Others

In light of the ongoing rapid transformations within the Operational Technology (OT) Security market, retaining a strategic advantage is paramount for both businesses and investors. At MarkNtel Advisors, we exactly identify and study every notable player, taking into account their recent product launches, mergers, acquisitions, and collaborations. This thorough analysis assists our clients in making more accurate projections and staying competitive in the market.

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Global Operational Technology (OT) Security Market Recent Development:

2024: Thales collaborated with Tenable to enhance their IT operational technology security solutions. This partnership ensures comprehensive visibility into assets, effective risk assessment, and streamlined collaboration between IT and OT teams, crucial for protecting against diverse and evolving threats.
2023: Fortinet Inc. announced the launch of new integrated operation technology security solutions, which would provide integrated protection and risk management which would be specific to different industrial environments.

Operational Technology (OT) Security Market Future Prospects

The outlook for Operational Technology (OT) Security appears favourable in terms of both revenue share and sales, as evidenced by the market trends observed in the historical period, 2023-30. Anticipating continued robust growth over the next five years, market participants are expected to further bolster their portfolios by harnessing technological advancements within the industry. Adding to the market's attractiveness is the widespread application of the product/service across various end-users, allowing market players to establish a solid presence across continents.

Frequently Asked Questions

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