Market Overview:
The global operational technology security market is expected to grow from USD 9.02 billion in 2018 to USD 16.14 billion by 2030, at a CAGR of 7.0% from 2018 to 2030. The growth of the global operational technology security market can be attributed to the increasing number of cyber-attacks on industrial control systems (ICS) and rising demand for managed security services. However, lack of awareness about OT security solutions among end users may restrain the growth of the global OT security market during the forecast period.
Product Definition:
Operational Technology Security is the protection of Operational Technology (OT) systems from unauthorized access, use, disclosure, disruption, or destruction. OT systems are used in critical infrastructure sectors such as energy, water and wastewater treatment, transportation and public health to manage and control physical processes. The importance of Operational Technology Security is that these systems are responsible for keeping our critical infrastructure running smoothly and if they were to be compromised it could result in a lot of damage.
Consulting:
Consulting is a business process where an expert is hired by an organization to offer his/her knowledge and experience in various fields such as strategy, operations, technology, and so on. The main aim of consulting is to provide expertise in areas where the company lacks it's own.
The global Consulting industry has been growing at a steady pace with new companies venturing into the market almost every year since 1995.
Managed Security Services:
Managed security services are a set of tools and techniques that help in reducing the cost, complexity, and time required to secure an organization's IT infrastructure. It helps in monitoring threats & vulnerabilities from different aspects such as network traffic, application usage statistics, user credentials & behavior analysis. The service provider monitors these activities round-the-clock for providing protection against any potential threat.
Application Insights:
The hardware segment dominated the global OTS market in terms of revenue share in 2017. The software segment is anticipated to witness a significant growth rate over the forecast period. This can be attributed to growing concerns about data loss and digital breaches, which are leading causes of cyber-attacks. As a result, companies are focusing on adopting operational technology security solutions that offer robust security against malware and other cyber-attacks while maintaining low costs associated with them.
The consulting services segment accounted for more than 35% revenue share in 2017 and is expected to grow at lucrative CAGR over the forecast period as companies continue their efforts toward improving their overall IT infrastructure by engaging skilled professionals for effective implementation of OTS solutions.
Regional Analysis:
North America dominated the global market in 2017. The region is expected to maintain its position during the forecast period. North America has been witnessing a steady increase in IT investments over the past few years, which is likely to boost regional growth over the forecast period. Furthermore, rising concerns regarding data security and privacy are anticipated to drive demand for ORTS solutions across this region.
Asia Pacific is estimated to be one of the fastest-growing regions during the same period owing to increasing government mandates pertaining data protection along with growing awareness among end users about their responsibility towards maintaining operational security of their systems & applications (Hoskote et al., 2016). Moreover, increasing number of cyberattacks targeting critical infrastructure sectors such as energy and utilities; banking; transportation; healthcare; manufacturing etc.; are some other factors driving regional growth (Kumar & Srinivasan, 2016).
Growth Factors:
- Increasing demand for Operational Technology (OT) security solutions from various end-user industries to protect their OT networks and systems from cyber threats.
- Proliferation of smart devices and the Internet of Things (IoT) is resulting in increased vulnerability of OT networks to cyber attacks, which is driving the demand for OT security solutions.
- The increasing number of sophisticated and targeted cyber attacks on industrial control systems and critical infrastructure is fueling the growth of the Operational Technology Security market.
- Growing awareness among organizations about the importance of securing their OT networks against potential cyber threats is propelling the growth of this market.
Scope Of The Report
Report Attributes
Report Details
Report Title
Operational Technology Security Market Research Report
By Type
Consulting, Managed Security Services
By Application
Hardware, Software
By Companies
Accenture, Bayshore, Belden, Cisco, Claroty, CyberX, Cyberbit, Darktrace, Deloitte, Dragos, GE (Wurldtech), Honeywell-Nextnine, Icon Labs, Indegy, IOActive, Kaspersky Lab, Leidos, NCC Group
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
147
Number of Tables & Figures
103
Customization Available
Yes, the report can be customized as per your need.
Global Operational Technology Security Market Report Segments:
The global Operational Technology Security market is segmented on the basis of:
Types
Consulting, Managed Security Services
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Hardware, Software
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Accenture
- Bayshore
- Belden
- Cisco
- Claroty
- CyberX
- Cyberbit
- Darktrace
- Deloitte
- Dragos
- GE (Wurldtech)
- Honeywell-Nextnine
- Icon Labs
- Indegy
- IOActive
- Kaspersky Lab
- Leidos
- NCC Group
Highlights of The Operational Technology Security Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Consulting
- Managed Security Services
- By Application:
- Hardware
- Software
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Operational Technology Security Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Operational technology security is the practice of protecting computer systems and networks from unauthorized access, use, or disclosure. It includes measures to protect data from being accessed by unauthorized individuals and to prevent malicious attacks on the system.
Some of the major players in the operational technology security market are Accenture, Bayshore, Belden, Cisco, Claroty, CyberX, Cyberbit, Darktrace, Deloitte, Dragos, GE (Wurldtech), Honeywell-Nextnine, Icon Labs, Indegy, IOActive, Kaspersky Lab, Leidos, NCC Group.
The operational technology security market is expected to grow at a compound annual growth rate of 7%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Operational Technology Security Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Operational Technology Security Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Operational Technology Security Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Operational Technology Security Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Operational Technology Security Market Size & Forecast, 2018-2028
4.5.1 Operational Technology Security Market Size and Y-o-Y Growth
4.5.2 Operational Technology Security Market Absolute $ Opportunity
Chapter 5 Global Operational Technology Security Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Operational Technology Security Market Size Forecast by Type
5.2.1 Consulting
5.2.2 Managed Security Services
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Operational Technology Security Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Operational Technology Security Market Size Forecast by Applications
6.2.1 Hardware
6.2.2 Software
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Operational Technology Security Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Operational Technology Security Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Operational Technology Security Analysis and Forecast
9.1 Introduction
9.2 North America Operational Technology Security Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Operational Technology Security Market Size Forecast by Type
9.6.1 Consulting
9.6.2 Managed Security Services
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Operational Technology Security Market Size Forecast by Applications
9.10.1 Hardware
9.10.2 Software
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Operational Technology Security Analysis and Forecast
10.1 Introduction
10.2 Europe Operational Technology Security Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Operational Technology Security Market Size Forecast by Type
10.6.1 Consulting
10.6.2 Managed Security Services
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Operational Technology Security Market Size Forecast by Applications
10.10.1 Hardware
10.10.2 Software
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Operational Technology Security Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Operational Technology Security Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Operational Technology Security Market Size Forecast by Type
11.6.1 Consulting
11.6.2 Managed Security Services
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Operational Technology Security Market Size Forecast by Applications
11.10.1 Hardware
11.10.2 Software
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Operational Technology Security Analysis and Forecast
12.1 Introduction
12.2 Latin America Operational Technology Security Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Operational Technology Security Market Size Forecast by Type
12.6.1 Consulting
12.6.2 Managed Security Services
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Operational Technology Security Market Size Forecast by Applications
12.10.1 Hardware
12.10.2 Software
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Operational Technology Security Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Operational Technology Security Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Operational Technology Security Market Size Forecast by Type
13.6.1 Consulting
13.6.2 Managed Security Services
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Operational Technology Security Market Size Forecast by Applications
13.10.1 Hardware
13.10.2 Software
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Operational Technology Security Market: Competitive Dashboard
14.2 Global Operational Technology Security Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Accenture
14.3.2 Bayshore
14.3.3 Belden
14.3.4 Cisco
14.3.5 Claroty
14.3.6 CyberX
14.3.7 Cyberbit
14.3.8 Darktrace
14.3.9 Deloitte
14.3.10 Dragos
14.3.11 GE (Wurldtech)
14.3.12 Honeywell-Nextnine
14.3.13 Icon Labs
14.3.14 Indegy
14.3.15 IOActive
14.3.16 Kaspersky Lab
14.3.17 Leidos
14.3.18 NCC Group
