Lucintel's latest market report analyzed that operational technology (OT) security provides attractive opportunities in the BFSI, manufacturing, energy & power generation, and oil & gas industries. The operational technology (OT) security market is expected to reach $XX billion by 2028 with a CAGR of 15% to 17%. In this market, cloud is the largest segment by deployment mode, whereas energy and power generation is largest by end use industry. 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 provides strategic growth path in this market.
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Based on deployment mode, the operational technology (OT) security market is segmented into cloud and on-premises. The cloud segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to as cloud-based deployment mode of OT security solutions provides organizations with cloud-based solutions that offer scalability, speed, and enhanced OT security.
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The Operational Technology (OT) Security Market is marked by the presence of several big and small players. Some of the prominent players offering operational technology (OT) security include Accenture, Belden,Cisco Systems, Claroty, CyberX, Cyberbit, Darktrace, Bayshore Networks, Hitachi Systems Security,Fortinet, and IBM.
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