The operational technology security market is anticipated to grow by US$24,092.7 Million by 2026 rapidly growing at a CAGR of 8.2% during the forecast period. The global operational technology security market is driven by increasing cyber security threats and the rise of OT ecosystems. These factors have helped shape the Operational Technology Security Market and are expected to boost the growth. Companies in the operational technology security market could also face challenges such as complexity of the OT security solutions. The details covered in the operational technology security market report cover all the aspects of the industry. operational technology security market analysts have also shared growth projections in the report and have suggested operational technology security market players to plan growth strategies accordingly.
Get a Free Sample @ https://www.marketresearchfuture.com/sample_request/8189
The global operational technology security market has been segmented based on component, deployment, end-use industry, and region.
By component, the operational technology security market has been divided into solution and services. The solution segment accounted for the larger market share of 66.7% in 2019, with a market value of USD 9,166.0 million; it is expected to register the higher CAGR of 8.34% during the forecast period. The services segment was valued at USD 4,574.3 million; it is projected to exhibit a CAGR of 7.83%. Operational technology (OT) is a set of hardware and software that detects anomalies in the physical devices and is involved in the monitoring and controlling processes and events in the enterprise. OT security solution is commonly used in industrial control systems (ICS) such as SCADA systems. OT security solutions are also used to control power stations and public transportation. Identifying threat activity at this architectural level is relatively straightforward given that dwell time is high, threat actors often leave visible traces, and there are many sophisticated security tools, services, and other capabilities designed to detect this activity.
Based on deployment, the Operational Technology Security Market Share is segmented based on on-premises, cloud, and hybrid deployments. The on-premise segment accounted for the largest market share of 47.9% in 2019, with a market value of USD 6,578.1 million; it is expected to register a CAGR of 7.37% during the forecast period. The hybrid segment was the second-largest market in 2019, valued at USD 4,924.0 million; it is projected to register the highest CAGR of 9.68%. Along with changing Industry 4.0 trends and the convergence of IT and operational technology (OT) environments, ICS infrastructure is becoming more connected to the outside world to enable production analytics and optimization. This requires converging IT and OT monitoring, security, and remote and on-premises access control capabilities. Many organizations are considering network-access-control (NAC) technology to bridge the gap between service providers and users, offering users with superior device visibility and threat response. This also allows enterprises to anticipate and control how ICS devices are securely accessed. Enterprises in the manufacturing and other industry verticals deploy advanced security systems that comply with their existing on-premises and cloud infrastructure. Cloud services for industrial automation promise significant benefits to industrial enterprises while dramatically increasing industrial attack surfaces. The emerging trend of the Industrial Internet of Things (IIoT) consists of edge industrial devices that are connected to the cloud systems on the Internet. A hybrid cloud is an infrastructure, which an organization can use to bridge cloud and on-premises environments. A hybrid cloud enables organizations to leverage different cloud and on-premises environments. This type of deployment avoids vendor lock-in and enables higher flexibility and availability to enterprises.
The power & electrical segment of the end-use industry in operational technology security accounted for the largest market share of 32.7% in 2019, with a market value of USD 4,449.8 million; it is projected to register an 8.82% CAGR during the forecast period. The manufacturing segment was the second-largest market in 2019, valued at USD 3,088.4 million; it is projected to register the highest CAGR of 9.96%.
The operational technology security market is supported by surge in data traffic and 5G deployment in many countries. The population growth around the world and increasing demand of operational technology security market-based services and products also support the market growth. However, the operational technology security market growth can be affected due to budget constraints affecting innovation and inefficiency of traditional OT security systems. The report covers all such details which will help companies in the operational technology security market to strengthen their business plan and improve their product portfolio. The operational technology security market research report also provides company profiles of major companies. The company profile of organizations operating in the operational technology security market discusses strategies, growth plans, size, revenue, and mergers and acquisition details of top companies in the operational technology security market. New entrants and established players can plan their strategies based on this data provided in the operational technology security market research report.
F5 Networks Inc. has today announced the purchase of the "edge-as-a-service" start-up Volterra Inc. for a $500M offer of $440 M in cash and $60 M in potential value. Network traffic control firm Volterra was introduced in November 2019 and was developed in 2017 to help businesses distribute apps across the public and private clouds and the network edge with a services-based technology platform.
Browse Complete Report @ https://www.marketresearchfuture.com/reports/operational-technology-security-market-8189
About Market Research Future:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
Market Research Future
+1 646 845 9312
Email: [email protected]