Market Overview
The global Operational Technology Security Market Growth was reached to the USD 33.13 billion with a CAGR of 8.3% by 2030 during the forecast period. The Operational Technology (OT) security was used in various types of industries for measuring, controlling and view the processes. It can be defined as solutions which detect or cause change in asset centric enterprises by monitoring and controlling physical devices, processes and events directly. The security devices related to these systems help the companies in assessing, design and managing security strategies and activities for the OT systems protection.
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These types of systems are interconnected infrastructures and networks which control and manage the processes of industries. The OT comprises systems of electronic components which control the physical operations of machines which help in transmitting the sensor data to the controller for monitoring and automated operational functions. The growth of the global Operational Technology Security Market Growth was boosted by the factors such as increase in cyber attacks and network security threats, smart operational technologies and convergence of IT and OT ecosystems.
The growth of the global Operational Technology Security Market Growth was restraint by the budget which affects the innovation and increase in the cyber threats because of the traditional OT security systems. There are various opportunities which are provided to the market players such as increase in the investment in adopting the industrial internet of things (IIot) solutions. The Europe holds second position in the globe with the market share of 26.1% in 2019.
The solution segment has largest share in the market of 66.7% in 2019. In 2019, the on-premise segment has the largest share in the market during the forecast period. The Asia Pacific has the market share of 18.0%. During the forecast period, the South America has a market share of 6.2% and Middle East & Africa has the market share of 4.7%. South America, Middle East & Africa register the substantial growth in the demand for the OT security.
Market Segmentation:
The global Operational Technology Security Market Growth was segmented on the basis of component, deployment, end use industry.
On the basis of component, the global Operational Technology Security Market Growth was divided into Services includes Managed & Professional Services and Solution includes OT end point security, anomaly detection, OT network segmentation, incident response, reporting & others.
On the basis of deployment, the global Operational Technology Security Market Growth was divided into Cloud, On Premise and Hybrid.
On the basis of end use industry, the global Operational Technology Security Market Growth was divided into Mining, Power & Electrical, Transportation, Manufacturing and Others.
Regional Classification:
The global Operational Technology Security Market Growth was spread in the following regions – Europe, North America, Asia Pacific, South America, Middle East and Africa.
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Industry News:
The key players involved in the global Operational Technology Security Market Growth are – General Electric (US), VMware Inc (US), Rockwell Automation Inc (US), Honeywell International Inc (US), PAS Global LLC (US), Schneider Electric (France), Fortinet Inc (US), Cisco Systems Inc. (US), Palo Alto Networks (US), Broadcom (US), Darktrace (US), Kaspersky Lab (Russia) and Forescout Technologies Inc. (US).
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