According to a market report by Lucintel, the future of the operational technology (OT) security market looks promising with opportunities in the BFSI, manufacturing, energy & power generation, and oil & gas industries. The global operational technology (OT) security market is expected to grow with a CAGR of 15% to 17% from 2023 to 2028. The major drivers for this market are initiatives taken by governments toward digitalization, increased regulatory requirements, and rise in cyberattacks on OT infrastructure.
Cloud and on-premises are the major segments of operational technology (OT) security market by deployment mode. Lucintel forecasts that cloud will remain the larger segment over the forecast period as cloud-based deployment mode of OT security solutions provides organizations with cloud-based solutions that offer scalability, speed, and enhanced OT security.
Within this market, energy and power generation is expected to remain the fastest growing segment as OT systems are typically used in thermal and hydropower plants. Additionally private consumer data coming into utility systems through smart metering and smart home initiatives.
North America will remain the largest region as this region has seen highly innovative and rapidly adopting technological and digital transformations.
Emerging trends, which have a direct impact on the dynamics of the industry, include increase in demand for professional and managed security services, rising risk of cyber threats on critical infrastructure, and increasing investments to adopt the industrial internet of things (IIOT) solution. Accenture, Belden, Cisco Systems, Claroty, CyberX, Cyberbit, Darktrace, Bayshore Networks, Hitachi Systems Security, Fortinet, and IBM are the major suppliers in the global operational technology (OT) security market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global operational technology (OT) security market by offering, organization size, deployment mode, end use industry, and region. Lucintel has compiled a comprehensive research report titled “Growth Opportunities in the Global Operational Technology (OT) Security Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy, as it provides comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global operational technology (OT) security market by offering, organization size, deployment mode, end use industry, and region, as follows:
Operational Technology (OT) Security Market by Offering [Value ($B) Shipment Analysis from 2017 to 2028]:
· Solutions
· Services
Operational Technology (OT) Security Market by Organization Size [Value ($B) Shipment Analysis from 2017 to 2028]:
· Large Enterprises
· SMEs
Operational Technology (OT) Security Market by Deployment Mode [Value ($B) Shipment Analysis from 2017 to 2028]:
· Cloud
· On-Premises
Operational Technology (OT) Security Market by End Use Industry [Value ($B) Shipment Analysis from 2017 to 2028]:
· BFSI
· Manufacturing
· Energy and Power Generation
· Oil and Gas
· Others
Operational Technology (OT) Security Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
· North America
· Europe
· Asia Pacific
· The Rest of the World
A more than 150 pages and in-depth TOC on “Global Operational Technology (OT) Security Market". To download report brochure, please go to
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About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers the following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the infrastructure as code (IaC) market by offering (solutions and services), organization size (large enterprises and SMEs), deployment mode (cloud and on-premises), end use industry (BFSI, manufacturing, energy and power generation, oil and gas, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?