Operational Technology (OT) Security Market
The global operational technology (OT) security market generated $15.2 billion in 2022 and is estimated to reach $84.2 billion by 2032, witnessing a CAGR of 19.0% from 2023 to 2032.
The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscapes, and competitive scenarios. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Covid-19 Scenario-
The COVID-19 outbreak had a positive impact on the global operational technology (OT) security market due to the rapid shift towards digitalization, which created a robust demand for AI-powered OT security solutions that offer real-time reporting and agile efficiency features.
In addition, the pandemic had forced many businesses to move work to remote locations. This has increased the reliance on digital systems and the susceptibility of OT systems. To defend their systems from cyberattacks, businesses are now making investments in the operational technology security sector.
This led to an increased investment in operational technology (OT) security solutions that can assist businesses in mitigating risks and ensuring the continuity of their operations.
The report comprehensively analyzes the global operational technology (OT) security market, covering its various segments such as component, deployment mode, organization size, end-user, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
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The growth of the operational technology (OT) security market is attributed to several factors, including the increase in the use of OT security solutions that are cloud-based, the surge in the integration of government initiatives to security norms, and the increasing demand for cyber threat modeling solutions. By region, North America held the major share in 2022, garnering more than one-third of the global operational technology (OT) security market revenue.
Based on region, the market in North America was the largest in 2022, accounting for more than one-third of the global operational technology (OT) security market revenue and is likely to maintain its dominance during the forecast period. The market in Asia-Pacific, however, is expected to manifest the fastest CAGR of 21.8% during the forecast period. The other provinces studied in the report include Europe and LAMEA.
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The key players of the global operational technology (OT) security market analyzed in the research include Microsoft Corporation, Forcepoint, Darktrace Holdings Limited, Cisco System, Inc., Palo Alto Networks Inc., Broadcom Inc., Fortinet, Inc., Kaspersky Lab, Forescout, and Thales Group.
These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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