Operational Technology Security Industry
Market Overview
Operational Technology Security Industry is a hardware and software combination used to monitor and control devices, physical processes, and infrastructure. Operational technology is used in various asset-intensive industries to conduct tasks ranging from controlling robots on the manufacturing floor to monitoring essential infrastructure. Power generating and electricity, manufacturing, transportation and logistics, mining, as well as other industries are all implementing operational technology solutions. Over the projection period, demand for operational technology is anticipated to rise. The increase is mostly due to the increased frequency of cyber assaults against OT systems.
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Many industries, like power generating and electrical, manufacturing, transportation and logistics, mining, and many others, rely on OT for security. To keep track of the devices, the OT utilizes a combination of hardware and software. Various equipment, physical processes, and infrastructure are monitored and controlled using operational technology.
Classification by Region:
The Middle East and Africa, North America, Asia-Pacific, Europe, and South America have been classified geographically worldwide Operational Technology Security Industry.
North America dominates the worldwide operational technology security industry in terms of market share. The United States is the largest market for operational technology, owing to significant investments in research and development and a large IT and communication sector.
The second-largest industry for operational technology is Europe. The UK, France, Germany, Italy, and Spain are among the developed and developing nations in the region. A rise in data traffic, the implementation of 5G services, the expanding number of cloud-based data centres, workforce mobility, as well as the rapid acceptance of IoT technologies are all major drivers of the regional market's development.
China, India, Japan, Australia, Singapore, South Korea, and the rest of Asia-Pacific make up the third-largest local market. China, Japan, and India account for the highest proportion of the regional market, with India predicted to develop at 13.40 percent.
Market Segmentation:
The Deployment, Component, End-Use Industry, and Region segments of the Global Operational Technology Security Industry have been defined.
The market has been divided into solution and services segments based on components. OT endpoint security, incident response, OT network segmentation, anomaly detection, and reporting, while others are all part of the solution sector. Managed as well as professional services are two types of services in the services market. In 2019, the solution sector had the biggest market share of 66.7 percent.
The operational technology security industry is divided into three categories depending on deployment: on-premise, hybrid, and cloud. In 2019, the on-premise category held the greatest market share; it is predicted to grow at a CAGR of 7.4% throughout the forecast period.
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Industry News:
During the projected period, the worldwide Operational Technology Security Industry is anticipated to rise significantly. In the worldwide Operational Technology Security Industry, sophisticated technology adoption like Machine Learning (ML) and Artificial Intelligence (AI) is a prominent trend. Companies are quickly embracing these technologies to shorten the time it takes to respond to a specific cyber threat. The OT security solution using machine learning as well as AI is offered with a vast database, allowing machines to learn quickly and discern between various forms of security threats like malware, virus, and many others, while also protecting the infrastructure.
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