Operation Technology (OT) Security Market Size to be Worth USD 50.48 Billion Growing at 15.0% CAGR till 2030; Industry Revenue, Statistics, Forecast by Emergen Research

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The global Operation Technology (OT) Security market size reached USD 4.48 Billion in 2021 and is expected to register a revenue CAGR of 15.0% during the forecast period, according to latest analysis by Emergen Research. Rapid integration of Operation Technology (OT) in industrial automation security is driving revenue growth of the market. Operation Technology (OT) security is a critical component in manufacturing processes to drive automation and digitization across industries. A large number of industries are deploying Operation Technology (OT) security market owing to increasing threats of cyber-attacks.

According to The Federal Bureau of Investigation (FBI), in 2021 around USD 18.7 billion loss was reported from cyber-attack and data breaches. Many industries are digitally transforming manufacturing and operational process with the help of modern machinery, sensors, automation tools, and the Industrial Internet of Things (IIOT). Data protection and connection security are major challenges in protecting Machine to Machine (M2M) communication. The aviation logistics industry is significantly contributing growth of the Operation Technology (OT) security market. Global logistics industry was hit by Denial of Service (DoS) assaults.

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For instance, a provider of aviation services and logistics Swissport International Ltd. was targeted by a ransomware attack in February 2022. These instances caused aircraft delays and disrupted its IT infrastructure and operations. Passenger data of airlines was also exposed after hackers penetrated SITA servers in 2021. Many leading logistics industries are increasingly adopting Operation Technology (OT) security services to protect system servers and seamlessly connect operations with a server. These factors are significantly driving revenue growth of the market.

In addition, governments in some countries are significantly investing in cyber security which is further accelerating growth of the market. For instance, in December 2022, The United States Government Accountability Office (U.S. GAO) issued a standard to establish and utilize measures of IoT cybersecurity activities in 16 key infrastructure sectors, including energy, healthcare, and transportation. Such factors are expected to rise the demand for the Operation Technology (OT) security market over the forecast period. However, high cost of implementation is restraining growth of the market. Multi-authentication and data security management server mitigation procedures are included in operation technology security to protect operational functionality. Multiple server connection is required to perform the functionality. These functionality requirements are impacting direct cost of organization.

Report Scope:

Forecast Period : 2022-2030

CAGR: 15.0%

Base Year: 2021

Number of Pages: 250

How will this Report Benefit you?

An Emergen Research report of 250 pages features 194 tables, 189 charts, and graphics. Our new study is ideal for anyone who wants to learn about the global Operation Technology (OT) Security market commercially and deeply, as well as to analyze the market segments in depth. With the help of our recent study, you can analyze the entire regional and global market for Operation Technology (OT) Security. To increase market share, you must obtain financial analysis of the entire market and its segments. Our research suggests there are significant opportunities in this rapidly expanding market for energy storage technology. Look at how you might take advantage of these revenue-generating opportunities. Additionally, the research will help you develop growth strategies, strengthen competitor analysis, and improve business productivity by enabling you to make better strategic decisions.

Emergen Research has segmented the global Operation Technology (OT) security market on the basis of component, deployment mode, delivery mode:

  • Component Outlook (Revenue, USD Billion; 2019-2030)
    • Solution
    • Services
  • Deployment Mode Outlook (Revenue, USD Billion; 2019-2030)
    • On-premise
    • Cloud
    • Hybrid
  • End-Use Outlook (Revenue, USD Billion; 2019-2030)
    • Manufacturing
    • Logistic and supply chain
    • Petrochemicals
    • Mining
    • Steel and metallurgy
    • Others

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The report further explores the key business players along with their in-depth profiling, product catalog, and strategic business decisions. The key players studied in the report are Honeywell International Inc., SCADAfence Ltd., AO Kaspersky Lab, Darktrace Holdings Limited, Dragos, Inc., SIGA, Forcepoint LLC, Zscaler, Inc., OTORIO Ltd., SSH Communications Security Inc., Nomios USA Inc., CyberArk Software Ltd. and among others

Some Key Highlights From the Report

  • The solution segment is accounted for the largest market revenue share in 2021. Various industries are increasingly implementing operation technology security solutions to initiate modification in enterprise information technology security architecture. OT solutions are widely utilized to centrally manage local controllers or production system components. Many sectors are employing OT solutions to reduce the risks of corporate data vulnerability. These factors are propelling revenue growth of the segment.
  • The on-premise segment accounted for the largest revenue share in 2021. Majority of industries are implementing on-premise OT security management applications to control activity from their in-house operations center. Integration of OT devices with equipment and other Industrial Control Systems (ICS). On-premise OT security ensures that all ICS assets are operational and meet the high availability and uptime requirements of these devices
  • The manufacturing segment accounted for the largest revenue share in 2021. Operation Technology (OT) security is widely used in the manufacturing industry for monitoring and controlling the production process. Security solutions and services for Operation Technology (OT) are increasingly being used to perform and monitor essential industrial robots and automation equipment.
  • Operation Technology (OT) security market in North America accounted for the largest revenue share in 2021. Increasing funding support in the cyber security industry for vulnerability and data breach mitigation is driving market growth in this region. In 2022, the average cost of a data breach in the United States was USD 9.4 million. Defense and aerospace industries are progressively incorporating cybersecurity into their systems to address geopolitical threats between cybersecurity and national defense.

Regional Bifurcation of the Operation Technology (OT) Security Market Includes:

  • North America (U.S., Canada)
  • Europe (U.K., Italy, Germany, France, Rest of EU)
  • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Information found nowhere else

With our new report, you are less likely to fall behind in knowledge or miss out on opportunities. See how our work could benefit your research, analyses, and decisions. Emergen Research study is for everybody needing commercial analyses for the Operation Technology (OT) Security Market, 2022 to 2030, market-leading companies. You will find data, trends and predictions.

Highlights of Table of Contents (TOC):

  • Overview of Global Operation Technology (OT) Security Market
  • Competitive analysis of the Operation Technology (OT) Security market
  • Regional analysis of Global Operation Technology (OT) Security market production and revenue
  • Regional analysis of Global Operation Technology (OT) Security market supply, consumption, and export & import
  • Type-based market analysis of global Operation Technology (OT) Security production, revenue, and price trends
  • Application-based analysis of the global Operation Technology (OT) Security market
  • Manufacturer profiles, manufacturing cost, and upstream and downstream analysis of global Operation Technology (OT) Security market
  • Global Operation Technology (OT) Security market forecast (2022-2030)
  • Conclusion of the research report
  • Appendix

To view the detailed TOC of the report, visit @ https://www.emergenresearch.com/industry-report/operation-technology-security-market

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