Operational Technology Security Market Analysis, Size, Trends And Forecast 2021-2028
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Operational Technology Security Market |
The
Operational Technology Security Market
was a rapidly evolving sector focused on safeguarding critical infrastructure
and industrial control systems from cyber threats. Operational Technology
refers to the hardware and software used to monitor and control physical
devices and processes in industries such as manufacturing, energy,
transportation, and utilities.
The
growing adoption of digitization and the convergence of OT and IT networks have
exposed these industries to a higher risk of cyberattacks. Consequently, the
demand for OT security solutions had been on the rise to protect against
potential disruptions, financial losses, and safety hazards.
The
Operational Technology Security Market
encompassed a wide range of products and services, including intrusion
detection systems, firewalls, security analytics, access control solutions, and
secure communication protocols specifically tailored for industrial
environments. Vendors in this space aimed to provide comprehensive solutions
that address the unique challenges of securing OT systems, such as legacy
equipment, real-time responsiveness requirements, and the need for
non-disruptive operations.
Key
factors driving market growth included increasing awareness of the threats
posed by cyber-physical attacks, stringent government regulations mandating the
implementation of robust security measures, and a growing number of
high-profile cyber incidents targeting critical infrastructure. As Per Coherent
Market Insights Study, The Operational
Technology Security Market was
valued at US$ 14,803.2 Mn in 2020 and is projected to grow at a CAGR of 7.7%
from 2021 to 2028 to reach US$ 26,518.7 Mn. Furthermore, the market had
witnessed a surge in partnerships and collaborations between OT security
vendors, IT security companies, and industrial automation providers to offer
integrated solutions. This approach aimed to bridge the gap between traditional
IT security and the specialized needs of OT environments, ensuring holistic
protection.
Competitive Landscape
Some
of the key players operating in the global Operational
Technology Security Market include Accenture plc, Belden Inc., Cisco
Systems, Inc., Claroty Ltd., CyberX, Cyberbit, Darktrace, Deloitte Touche
Tohmatsu Limited, Bayshore Networks, Hitachi Systems Security Inc., Fortinet,
Inc., OTORIO Ltd., IBM Corporation, Dragos, Inc., Indegy, IOActive Inc.,
Kaspersky Lab, Leidos, Thales Group, TÜV SÜD, Wurldtech Security Technologies
Inc., Honeywell International Inc. (NextNine Ltd.), Nozomi Networks Inc., and
NCC Group
Operational Technology Security
Market Trends
Convergence of IT and OT Security: With the increasing connectivity and integration
between IT and OT systems, there has been a growing emphasis on the convergence
of cybersecurity measures for both domains. This has led to the development of
solutions that bridge the gap between traditional IT security and specialized
OT security.
Magnetic
Resonance Charging is an advanced Wireless
Charging technique that employs
magnetic fields to transfer power efficiently, even through obstacles, making
it suitable for applications in which line-of-sight charging is not feasible.
Adoption of AI and Machine Learning: AI and machine learning technologies are being
integrated into Operational Technology
Security Market solutions to detect and respond to advanced threats. These
technologies can analyze vast amounts of data from OT systems to identify
anomalies, predict potential attacks, and improve incident response
capabilities.
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