Operational Technology (OT) Security Market Size Worth $71.22 Billion By 2032 | CAGR: 17.1%

The global Operational Technology (OT) Security market size is expected to reach USD 71.22 billion by 2032, according to a new study by Polaris Market Research. The report “Operational Technology (OT) Security Market Share, Size, Trends, Industry Analysis Report, By Offering; By Deployment Mode (Cloud, On-Premises, Hybrid); By Organization Size; By Application; By Region; Segment Forecast, 2024- 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

The operational technology security market is experiencing expansion due to the incorporation of diverse technologies, procedures, and regulations aimed at detecting and mitigating risks to operational technology systems. These strategies encompass network division, access management, intrusion detection, and contingency response preparation. The significance of OT security has surged in the past few years with the rise in connectivity of industrial control systems to the Internet and other networks.

The vulnerability to cyber-attacks and security breaches that could disrupt essential infrastructure and lead to extensive harm has escalated. However, there is a growing focus on bolstering OT security through heightened investments, cooperation, and adoption of best practices. The protection of crucial assets within these sectors is the main objective of security. To reduce vulnerabilities, simplicity takes precedence in OT systems, as intricate systems can create more opportunities for attacks.

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In recent years, Operational Technology Systems Management has been developed which is a comprehensive framework specifically designed to address the distinct security and management requirements of OT environments. By leveraging established IT service management strategies (ITSM), OTSM provides a structured approach to effectively handle OT assets, security risks, and incidents. This involves creating and maintaining an up-to-date inventory of all OT devices, including their configurations and any known vulnerabilities. By doing so, OTSM enables proactive identification, prioritization, and remediation of vulnerabilities within your OT systems. It offers a comprehensive framework that combines proven IT service management strategies with a deep understanding of OT assets, enabling organizations to effectively manage and secure their OT environments.

Operational Technology (OT) Security Market Report Highlights

• The solutions segment has dominated the market, largely attributable to its ability to tackle the distinct challenges that come with OT environments.
• The services segment is projected to grow at a CAGR, mainly driven by aim to improve uptime, safety, and resilience by assisting in the identification of OT risks.
• The on-premises segment dominated the market as these offer complete authority and adaptability in managing security policies.
• The energy and power segment dominated the market and is anticipated to grow at the fastest CAGR owing to wide range of technologies.
• The North America region dominated the market owing to the rapidly increasing deployment of operational technology by numerous multinational corporations.
• The global key market players include Cisco, Fortinet, Honeywell, McAfee, Palo Alto Networks, Qualys, Siemens, etc.

Polaris Market Research has segmented the Operational Technology (OT) Security market report based on offering, deployment mode, organization size, application and region:

Operational Technology (OT) Security, Offering Outlook (Revenue - USD Billion, 2019 - 2032)

• Solutions

• SIEM
• Asset Discovery & Management
• Network Security
• Vulnerability Management
• IAM
• Data Security

• Services

Operational Technology (OT) Security, Deployment Mode Outlook (Revenue - USD Billion, 2019 - 2032)

• Cloud
• On-Premises
• Hybrid

Operational Technology (OT) Security, Organization Size Outlook (Revenue - USD Billion, 2019 - 2032)

• Large Enterprises
• Small and Medium-Sized Enterprises

Operational Technology (OT) Security, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Energy and Power
• Transportation & Logistics
• Manufacturing
• Oil and Gas
• Others

Operational Technology (OT) Security, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands
• Rest of Europe

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Australia
• Malaysia
• Rest of Asia Pacific

• Latin America

• Argentina
• Brazil
• Mexico
• Rest of Latin America

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa
• Rest of Middle East & Africa

Operational Technology (OT) Security Market Report Scope