Operational Technology Security Market

Operational Technology Security Market Overview from 2024 to 2034

The operational technology security market is expected to be valued at USD 18.4 billion in 2024. The market is expected to grow at a CAGR of 16.6% from 2024 to 2034. By 2034, the operational technology security industry is slated to hit USD 85.5 billion.

Operational Technology Security Market Analysis

• The rising threat of cyber-attacks is necessitating the deployment of operational technology security services.
• As the line between operational technology and other digital infrastructures like IT and the Internet of Things (IoT) gets blurred, the security components of these technologies are being used for operational technology, too.
• Governmental use of operational technology increases the demand for operational technology security, as governments are eager not to let any of their sensitive and confidential information escape.
• Users of operational technology have to keep up with the work of hackers and other ill-intentioned online presences who develop innovative ways to breach the system. Operational technology security is helping users to do so.
• Users of operational technology are often big enterprises that cannot afford downtime to fix security issues. Operational technology security ensures the continuous running of systems.

Attributes	Details
Operational Technology Security Market Value for 2024	USD 18.4 billion
Projected Market Value for 2034	USD 85.5 billion
Value-based CAGR from 2024 to 2034	16.6%

Operational Technology Security Market Trends

• Companies are rapidly adopting the latest operational technologies to keep up with or stay ahead of competitors. To ensure the smooth running of these technologies, operational technology security is sought.
• Organizations are becoming increasingly conscious of the ill effects of security breaches, such as financial losses and the sullying of reputations, and thus there is more of a drive to adopt operational technology security.
• Entities in the operational technology security field are collaborating with freelance security experts, government agencies, and others to provide better results.
• Operational technology security is becoming more advanced with the incorporation of AI, machine learning, and other technologies.
• Services offered by operational technology security vendors are increasing. Services such as vulnerability assessment and network mapping tools not only decrease the threat of data breaches but also increase the confidence of organizations in the security systems.
• Remote operating and monitoring of operational technology systems is increasing as a result of the lessening function of the physical components. To ensure the remote processes are risk-free, operational technology security is being sought.
• Enterprises employ operational technology across a wide range of systems and devices. Operational technology security faces the problem of integrating all these disparate systems into a cohesive security program, lessening the confidence of enterprises in the security measure.

Category-wise Outlook

Operational technology security as a packaged solution is the highly popular type of offering in the market. On-premises deployment continues to rule the roost when it comes to operational technology security.

Solution is the Predominant Component Desired by Organizations as Part of Operational Technology Security

The solution component of operational technology security is expected to progress at a CAGR of 16.4% over the forecast period. Factors driving the growth of the solution component are:

• A pre-packaged solution helps organizations achieve uniformity across systems and devices in their measure to protect operational technology from threats.
• The solution component of operational technology security is long-lasting as opposed to service, which might be hindered, and thus solution is the top component in the market.

Attributes	Details
Top Component	Solution
CAGR (2024 to 2034)	16.4%

On-premises Deployment Dominates the Operational Technology Security Market

On-premises deployment is anticipated to register a CAGR of 16.2% over the forecast period. Some of the factors for the growth of on-premises deployment are:

• Although cloud systems offer enhanced storage capabilities, the risk is run by the employees of the organization not being familiar with it. Thus, on-premise deployment is preferred by organizations.
• On-premise deployment allows organizations to keep a closer eye on the operation of security measures and is thus trusted.

Attributes	Details
Top Deployment	On-premise
CAGR (2024 to 2034)	16.2%

Country-wise Analysis

The overwhelming technological developments in Asia Pacific are helping the market’s cause in the region. Increasing usage of technologies like AI and machine learning for a number of applications are propelling the market in North America and Europe. North American and European companies’ desire to have the best security solutions regardless of the price is another factor positively impacting the market in the region.

Countries	CAGR (2024 to 2034)
United States	16.8%
United Kingdom	17.1%
China	17.3%
Japan	18.0%
South Korea	18.3%

Rise in Industrial Use of Operational Technology Helping the Market’s Cause in South Korea

The market in South Korea is anticipated to register a CAGR of 18.3% over the forecast period. Some of the factors driving the encouraging growth of the market in the country are:

• Transportation, energy, and manufacturing are some of the industries adopting operational technology, and in turn operational technology security, in South Korea.
• There has been an increase in cyberattacks on public infrastructure in the country and operational technology security is being employed to curb them.

Japanese Companies Taking Help of Foreign Enterprises to Boost Operational Technology Security

The market in Japan is set to expand at a CAGR of 18.0% over the forecast period. Prominent factors driving the growth of the market are:

• Japanese companies are taking the help of foreign security providers to toughen up their operational technology operations.
• Japan has seen a host of cyber breaches of factories and industrial units, prompting industrialists to invest in operational technology security.

Government Encouragement for Modernization of Industries Aiding the Market in China

The market is expected to register a CAGR of 17.3% in China. Some of the factors driving the growth of the market in China are:

• There is public encouragement for Chinese industries to adopt technologies like IoT and operational technology, and thus, there is a greater need for operational technology security in Chinese industries.
• Collaboration between public organizations and private security providers is boosting the market in China.

Operational Technology Security Helping Secure Government Information in the United Kingdom

The market in the United Kingdom is set to progress at a CAGR of 17.1% through 2034. Factors influencing the growth of the market in the United Kingdom include:

• Operational technology security providers have been called upon to do government work in the United Kingdom. For example, Thales was entrusted to do a security assessment of the Royal Mint, the coin maker of the United Kingdom.
• Operational technology security is being used by companies in the nuclear sector in the United Kingdom as a way to secure sensitive information.

Operational Technology Security Solutions in the Wake of Cyber Attacks on Essential Services in the United States

The market in the United States is expected to register a CAGR of 16.8% through 2034. Some of the reasons for the growth of operational technology security in the country are:

• Providers of essential services like ambulances and water have been subject to cyber-attacks in the United States. Thus, operational technology security is the need of the hour for many enterprises in the country.
• Increasing concerns over large-scale cyber-attacks formulated by geopolitical enemies are driving the United States government towards security measures like operational technology security.

Competitive Landscape in the Operational Technology Security Market

The sprawl of operation technology is wide, and thus, there are multiple avenues for growth in the market. Market players are hitting on collaborative strategies to make use of different capabilities possessed by them.

It is not just fellow players that are being approached for partnerships, cyber security experts, government organizations, and others are also becoming a part of the collaboration strategy of companies in the market for operational technology security.

Recent Developments in the Operational Technology Security Market

• In July 2023, Dragos and Macnica Corporation signed an agreement for the launch of the former’s operational technology security in Japan.
• In January 2024, Fortinet announced the launch of FortiSwitch 424F and the FortiExtender Vehicle 211F, as well as improvements to its FortiGuard OT Security Service as measures to improve the security of operational technology.
• In March 2023, Tenable updated its Tenable Security Solution for operational technology with features like advanced vulnerability and threat detection and enhanced dashboards and reporting systems.

Key Companies in the Operational Technology Security Market

• Honeywell International Inc.
• Schneider Electric
• Palo Alto Networks
• Cisco Systems Inc.
• Fortinet Inc.
• General Electric
• HCL Technologies Ltd
• Vmware, Inc.
• Broadcom
• Kaspersky Lab
• General Electric
• Rockwell Automation, Inc
• Pas Global LLC (Hexagon AB)
• Forescout Technologies Inc
• Darktrace
• Nozomi Networks Inc
• Scadafence

Key Market Segmentation

By Component:

• Solution
• Services

By Deployment Mode:

• On-Premise
• Cloud

By Organization Size:

• Large Enterprises
• Small and Medium Enterprises (SMEs)

By End-user:

• Manufacturing
• Energy and Power
• Oil and Gas
• BFSI
• Transportation and Logistics
• Others

By Region:

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• Middle East and Africa (MEA)

Frequently Asked Questions

How Big is the Operational Technology Security Market?

The size of the operational technology security market is estimated to be USD 18.4 billion in 2024.

Which are the Key Companies in the Operational Technology Security Market?

Thales Group, Kaspersky Lab, Cisco System, Inc., and Fortinet, Inc. are some of the key companies in the market.

How Big will the Operational Technology Security Market Be by 2034?

The operational technology security market is expected to reach a valuation of USD 85.5 billion in 2034.

Which Component is Leading the Operational Technology Security Market?

The solution segment is expected to grow at a predicted CAGR of 16.4% over the forecast period.

What are the Trends in the Operational Technology Security Market?

The use of AI and machine learning, as well as vulnerability assessment and network mapping services are two of the trends in the market.

How will the Operational Technology Security Market Progress over the Forecast Period?

The market is expected to progress at an extraordinary CAGR of 16.6% from 2024 to 2034.