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| Global Operational Technology Security Market Size |
Operational technology (OT) security has become increasingly important as
industrial control systems (ICS) environments are embracing IT systems and
adopting digital technologies to improve productivity and efficiency. OT
security helps protect industrial control systems and critical infrastructure
from cyber threats by securing operational networks, endpoints and
applications. OT systems are used to monitor and control physical equipment in
various critical infrastructure sectors such as utilities, manufacturing,
transportation, energy and building automation.
However, the integration of IT systems has introduced cyber vulnerabilities
that can disrupt industrial processes and compromise safety if not properly
secured. Attacks on OT environments can potentially result in physical damage,
environmental disasters, financial losses or threaten public safety. As per
reports, cyber attacks targeting OT systems are steadily increasing. Therefore,
organizations are ramping up security spending to protect critical
infrastructure and detect as well as respond to threats in real time.
The Global
Operational Technology Security Market Size is estimated to be valued
at US$ 21303.71 Mn in 2024 and is expected to exhibit a CAGR of 4.3% over the forecast period
2024 to 2031.
Key Takeaways
Key players operating in the operational technology security market are
Panasonic Corporation, Energizer Holdings, Maxwell Technologies Inc., Seiko
Instruments Inc., Berkshire Hathaway Inc., Sony Corporation, Toshiba
Corporation, Renata SA, Camelion Battery, and Varta AG.
The key opportunities in the OT security market include increasing adoption of
cloud-based solutions for remote monitoring, growing investments in smart
infrastructure and transition toward industrial internet of things. Several
regions and countries are strengthening cybersecurity policies and regulations
to mandate security best practices for critical infrastructure.
Major OT security players are expanding globally to tap rising demand from new
geographical markets. Companies are also pursuing mergers and acquisitions to
enhance product portfolios and gain additional expertise. Partnerships with
system integrators are helping vendors develop sector-specific solutions and address
security needs across diverse industries.
Market Drivers
Stringent compliance mandates and regulations around the world to establish
minimum security standards for critical infrastructure are a key driver for the
OT security market. Regulations such as NERC CIP in North America and ISO27001
in Europe are compelling utility and manufacturing companies to prioritize
security.
Remote access requirements during the pandemic has further amplified cyber
risks in OT environments. Many organizations fast-tracked digital
transformation without fully considering security implications. This has
unfortunately led to more unsecured endpoints and expanded attack surfaces that
threaten operational stability if breached.
Market Restraints
Lack of skilled security personnel with ICS domain expertise is a major
challenge for effective implementation of OT security programs. Securing
complex industrial infrastructure requires specialized knowledge, which remains
in short supply.
Tight capital budgets of asset owners is another constraint as securing legacy
control systems entails significant upfront investments and periodic upgrades.
There is also a lack of standardized frameworks for testing security controls
in real operating environments without disrupting production.
Segment Analysis
The Operational Technology Security market is dominated by the Network Segment.
Operational networks are increasingly connected which has expanded the attack
surface and exposed vulnerabilities. Network security solutions enable visibility
of threats across OT networks and industrial control systems in real time with
network monitoring, packet capture and protocol decoding.
The ICS/SCADA Security sub-segment is another dominating segment. Legacy
industrial control systems and SCADA networks were not designed with
cybersecurity in mind which has made them susceptible to attacks. ICS/SCADA
security solutions provide critical infrastructure organizations with
visibility, protection and control of their operational technology environments.They
help detect anomalies and threats, respond to incidents, and mitigate risks.
Global Analysis
The North America region dominates the Operational Technology Security market
currently. Growing instances of cyberattacks targeting critical infrastructure
in the US such as the Colonial Pipeline incident have increased awareness about
OT security. Governments in the region have launched initiatives and frameworks
like ICS-CERT to improve cyber resilience of critical infrastructure.
The Asia Pacific region is expected to be the fastest growing market during the
forecast period. Countries like India and China are increasingly investing in
modernizing infrastructure and adopting digital technologies in sectors such as
manufacturing, utilities, and transportation. However, the integration of IT
and OT has also expanded the attack surface necessitating greater focus on OT
security.
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