Operational technology (OT) is a hardware and software combination that is used to control and monitor devices, physical processes, and infrastructure. Operational technology is used in a variety of asset-intensive industries to conduct tasks ranging from controlling robots on the production floor to monitoring essential infrastructure. Power generating and electricity, manufacturing, transportation and logistics, mining, and other industries are all implementing operational technology solutions. Over the projection period, demand for operational technology is predicted to rise. The increase is mostly due to an increase in the number of cyber assaults.
Component, industry, and geography are the three segments that make up the worldwide operational technology security market. The market is divided into solutions and services based on components. In 2020, the solution category will produce the most income. The solution section is divided into OT endpoint security, OT network segmentation, anomaly detection, incident response and reporting, and others, while the services segment is divided into professional and managed services. Consulting services, deployment and implementation services, and other support services make up the professional services category. The worldwide operational technology security market is further split by industry into power generation & electrical, manufacturing, transportation & logistics, mining, oil & gas, and others (water treatment, aerospace & defense, healthcare, etc.). In 2020, the power generation and electrical category made the most revenue. The worldwide operational technology security market is divided into North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa based on geography.
Due to an increase in the number of cyber assaults, the worldwide operational technology security market is predicted to develop significantly over the forecast period (2021–2028).
Information technology (IT) and operational technology (OT) networks are used to function separately. OT systems are mainly run on antiquated software and are not accessible through the internet. As Industry 4.0 becomes more widely used, the technology divide between IT and OT systems are narrowing. Organizations may control whole plant processes remotely using OT with an open system, resulting in increased efficiency and production. Industrial systems, on the other hand, are growing increasingly vulnerable as they become more interconnected.