Operational Technology Security Market will accelerate at a CAGR of 15.97% through 2022-2027|Rising need to improve business efficiency to boost market growth- Technavio

NEW YORK, July 3, 2023 /PRNewswire/ -- The operational technology security market size is estimated to increase by USD 17,756.09 million from 2022 to 2027, with a CAGR of 15.97%, according to a recent market study by Technavio. This report also offers a 5-year historical (2017-2021) data projection of market size, segmentation, and region. Discover some insights on market size before buying the full report -Request a sample report

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Operational Technology Security Market 2023-2027: Vendor Analysis and Scope

The operational technology security market report also offers information on the criticality of inputs, R&D, CAPEX, technology, and products of 15 vendors listed Below -

Alphabet Inc., AO Kaspersky Lab, BeyondTrust Corp., Broadcom Inc., Check Point Software Technologies Ltd., Cisco Systems Inc., CyberArk Software Ltd., Darktrace Holdings Ltd., Forcepoint LLC, Forescout Technologies Inc., Fortinet Inc., Fortra LLC, Microsoft Corp., Nozomi Networks Inc., Okta Inc., Palo Alto Networks Inc., Radiflow, Sophos Ltd., Tenable Holdings Inc., and Zscaler Inc.

Chart & Data Table on 5-Year Historic (2017-2021) Market Size, Comparative Analysis of Segments, and Y-O-Y Growth of Operational technology security market Download Sample

Operational Technology Security Market – Market Segmentation

The market is segmented by end-user (SMEs and large enterprises), application (power generation and electrical, manufacturing, transportation and logistics, mining, and Others), and Geography (North America, Europe, APAC, Middle East and Africa, and South America)

• The market share growth in the SME segment will be significant during the forecast period. Small and medium-sized enterprises (SMEs) are adopting new technologies and advanced operational processes which allow them to work efficiently. These technologies include machine learning and AI-based manufacturing robots. Advanced operational technology security is needed by small businesses to maintain price competitiveness and product quality. To hacking and phishing, they are adopting increasingly sophisticated cybersecurity measures to protect the security of their data and operational processes. Hence, these factors are expected to drive the growth of the segment during the forecast period.

Geographic Overview

The market is segmented by region North America, Europe, APAC, South America, and Middle East and Africa. An analysis of key leading countries has been included.

• North America is estimated to contribute 33% to the growth of the global OT security market during the forecast period. The growth in the region is due to the early adoption of advanced technologies. In addition, the region is the largest producer of OT security data and a major end-user. The various advanced technologies such as artificial intelligence, virtualization, and cloud computing used in the sectors are creating numerous use cases for technological operational security in the region. Hence, these factors are expected to drive the market growth in the region during the forecast period.

Operational Technology Security Market – Market Dynamics

Key driver

The rising need to improve business efficiency is notably driving market growth. The amount of data generated from various industries is due to the increasing number of connected devices. As a result, these data can be used to optimize costs, provide better service, and increase sales. The business models which were used earlier were experience and perception driven, now they have started shifting towards data-driven. To improve productivity, the company has started using automation and flexible production techniques in manufacturing. In addition, businesses are saving money on planned repairs, reducing maintenance costs, and avoiding downtime with the help of predictive asset maintenance. Hence, these factors are expected to drive the market growth during the forecast period.

Major Trends

Growing dependence on the Internet is a key trend in the market. This growth is due to the increasing access to the internet for daily activities and critical business. There is an increase in the amount of data shared on the social media platforms among users. In addition, banks and credit card companies are allowing their customers to conduct online transactions. The key requirement for any organization is reducing lead times and costs, optimizing capacity, and increasing profits from developing IT infrastructure. Operational security protects an organization's processes from external and internal threats. Hence these benefits offered by operational security are expected to drive the market during the forecast period.

Significant Challenges 

The high cost of ownership is challenging the operational technology (OT) security market growth. The complex programming processes and data integration are the factors that add time and cost to the service provided by the companies. Also, most providers charge extra if there is any need for software updates. The vendors refuse to provide any technical support to older software which forces the end-users to purchase the new updated software. licensing, system design and customization, implementation, training, maintenance, and support costs are included in Pricing for in-house technology security solutions. Furthermore, these costs are increasing due to increased demand and the need to customize products according to the requirements of the end users. Hence, these high costs are expected to restrict market growth during the forecast period.

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What are the key data covered in this Operational Technology Security Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the operational technology security market between 2023 and 2027
• Precise estimation of the size of the operational technology security market and its contribution to the market with a focus on the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the operational technology security market across North America, Europe, APAC, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of operational technology security market vendors.

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Table of Contents

1 Executive Summary

• 1.1 Market Overview
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 ($ million)
• Exhibit 16: Chart on Global Market: Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market: Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global operational technology security market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on global operational technology security market 2017 - 2021 ($ million)

• 4.2 End-users Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – End-users Segment 2017 - 2021 ($ million)

• 4.3 Application Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Application Segment 2017 - 2021 ($ million)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 ($ million)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 ($ million)

5 Five Forces Analysis

• 5.1 Five forces summary
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by End-user

• 6.1 Market segments
• Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)

• 6.2 Comparison by End-user 
• Exhibit 32: Chart on Comparison by End-user
• Exhibit 33: Data Table on Comparison by End-user

• 6.3 SMEs - Market size and forecast 2022-2027 
• Exhibit 34: Chart on SMEs - Market size and forecast 2022-2027 ($ million)
• Exhibit 35: Data Table on SMEs - Market size and forecast 2022-2027 ($ million)
• Exhibit 36: Chart on SMEs - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on SMEs - Year-over-year growth 2022-2027 (%)

• 6.4 Large enterprises - Market size and forecast 2022-2027 
• Exhibit 38: Chart on Large enterprises - Market size and forecast 2022-2027 ($ million)
• Exhibit 39: Data Table on Large enterprises - Market size and forecast 2022-2027 ($ million)
• Exhibit 40: Chart on Large enterprises - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Large enterprises - Year-over-year growth 2022-2027 (%)

• 6.5 Market opportunity by End-user 
• Exhibit 42: Market opportunity by End-user ($ million)
• Exhibit 43: Data Table on Market opportunity by End-user ($ million)

7 Market Segmentation by Application

• 7.1 Market segments
• Exhibit 44: Chart on Application - Market share 2022-2027 (%)
• Exhibit 45: Data Table on Application - Market share 2022-2027 (%)

• 7.2 Comparison by Application 
• Exhibit 46: Chart on Comparison by Application
• Exhibit 47: Data Table on Comparison by Application

• 7.3 Power generation and electrical - Market size and forecast 2022-2027 
• Exhibit 48: Chart on Power generation and electrical - Market size and forecast 2022-2027 ($ million)
• Exhibit 49: Data Table on Power generation and electrical - Market size and forecast 2022-2027 ($ million)
• Exhibit 50: Chart on Power generation and electrical - Year-over-year growth 2022-2027 (%)
• Exhibit 51: Data Table on Power generation and electrical - Year-over-year growth 2022-2027 (%)

• 7.4 Manufacturing - Market size and forecast 2022-2027 
• Exhibit 52: Chart on Manufacturing - Market size and forecast 2022-2027 ($ million)
• Exhibit 53: Data Table on Manufacturing - Market size and forecast 2022-2027 ($ million)
• Exhibit 54: Chart on Manufacturing - Year-over-year growth 2022-2027 (%)
• Exhibit 55: Data Table on Manufacturing - Year-over-year growth 2022-2027 (%)

• 7.5 Transportation and logistics - Market size and forecast 2022-2027 
• Exhibit 56: Chart on Transportation and logistics - Market size and forecast 2022-2027 ($ million)
• Exhibit 57: Data Table on Transportation and logistics - Market size and forecast 2022-2027 ($ million)
• Exhibit 58: Chart on Transportation and logistics - Year-over-year growth 2022-2027 (%)
• Exhibit 59: Data Table on Transportation and logistics - Year-over-year growth 2022-2027 (%)

• 7.6 Mining - Market size and forecast 2022-2027 
• Exhibit 60: Chart on Mining - Market size and forecast 2022-2027 ($ million)
• Exhibit 61: Data Table on Mining - Market size and forecast 2022-2027 ($ million)
• Exhibit 62: Chart on Mining - Year-over-year growth 2022-2027 (%)
• Exhibit 63: Data Table on Mining - Year-over-year growth 2022-2027 (%)

• 7.7 Others - Market size and forecast 2022-2027 
• Exhibit 64: Chart on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 65: Data Table on Others - Market size and forecast 2022-2027 ($ million)
• Exhibit 66: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 67: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 7.8 Market opportunity by Application 
• Exhibit 68: Market opportunity by Application ($ million)
• Exhibit 69: Data Table on Market opportunity by Application ($ million)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 70: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 71: Chart on Market share by geography 2022-2027 (%)
• Exhibit 72: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 73: Chart on Geographic comparison
• Exhibit 74: Data Table on Geographic comparison

• 9.3 North America - Market size and forecast 2022-2027 
• Exhibit 75: Chart on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 76: Data Table on North America - Market size and forecast 2022-2027 ($ million)
• Exhibit 77: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 78: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027 
• Exhibit 79: Chart on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 80: Data Table on Europe - Market size and forecast 2022-2027 ($ million)
• Exhibit 81: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 82: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 APAC - Market size and forecast 2022-2027 
• Exhibit 83: Chart on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 84: Data Table on APAC - Market size and forecast 2022-2027 ($ million)
• Exhibit 85: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 86: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 87: Chart on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 88: Data Table on Middle East and Africa - Market size and forecast 2022-2027 ($ million)
• Exhibit 89: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 90: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027 
• Exhibit 91: Chart on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 92: Data Table on South America - Market size and forecast 2022-2027 ($ million)
• Exhibit 93: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 94: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 US - Market size and forecast 2022-2027 
• Exhibit 95: Chart on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 96: Data Table on US - Market size and forecast 2022-2027 ($ million)
• Exhibit 97: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 98: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.9 China - Market size and forecast 2022-2027 
• Exhibit 99: Chart on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 100: Data Table on China - Market size and forecast 2022-2027 ($ million)
• Exhibit 101: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 102: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.10 Germany - Market size and forecast 2022-2027 
• Exhibit 103: Chart on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 104: Data Table on Germany - Market size and forecast 2022-2027 ($ million)
• Exhibit 105: Chart on Germany - Year-over-year growth 2022-2027 (%)
• Exhibit 106: Data Table on Germany - Year-over-year growth 2022-2027 (%)

• 9.11 Canada - Market size and forecast 2022-2027 
• Exhibit 107: Chart on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 108: Data Table on Canada - Market size and forecast 2022-2027 ($ million)
• Exhibit 109: Chart on Canada - Year-over-year growth 2022-2027 (%)
• Exhibit 110: Data Table on Canada - Year-over-year growth 2022-2027 (%)

• 9.12 UK - Market size and forecast 2022-2027 
• Exhibit 111: Chart on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 112: Data Table on UK - Market size and forecast 2022-2027 ($ million)
• Exhibit 113: Chart on UK - Year-over-year growth 2022-2027 (%)
• Exhibit 114: Data Table on UK - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 115: Market opportunity by geography ($ million)
• Exhibit 116: Data Tables on Market opportunity by geography ($ million)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 117: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape
• Exhibit 118: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption
• Exhibit 119: Overview on factors of disruption

• 11.4 Industry risks
• Exhibit 120: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered
• Exhibit 121: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 122: Matrix on vendor position and classification

• 12.3 Alphabet Inc.
• Exhibit 123: Alphabet Inc. - Overview
• Exhibit 124: Alphabet Inc. - Business segments
• Exhibit 125: Alphabet Inc. - Key news
• Exhibit 126: Alphabet Inc. - Key offerings
• Exhibit 127: Alphabet Inc. - Segment focus

• 12.4 BeyondTrust Corp.
• Exhibit 128: BeyondTrust Corp. - Overview
• Exhibit 129: BeyondTrust Corp. - Product / Service
• Exhibit 130: BeyondTrust Corp. - Key news
• Exhibit 131: BeyondTrust Corp. - Key offerings

• 12.5 Broadcom Inc.
• Exhibit 132: Broadcom Inc. - Overview
• Exhibit 133: Broadcom Inc. - Business segments
• Exhibit 134: Broadcom Inc. - Key news
• Exhibit 135: Broadcom Inc. - Key offerings
• Exhibit 136: Broadcom Inc. - Segment focus

• 12.6 Check Point Software Technologies Ltd. 
• Exhibit 137: Check Point Software Technologies Ltd. - Overview
• Exhibit 138: Check Point Software Technologies Ltd. - Product / Service
• Exhibit 139: Check Point Software Technologies Ltd. - Key offerings

• 12.7 Cisco Systems Inc.
• Exhibit 140: Cisco Systems Inc. - Overview
• Exhibit 141: Cisco Systems Inc. - Business segments
• Exhibit 142: Cisco Systems Inc. - Key news
• Exhibit 143: Cisco Systems Inc. - Key offerings
• Exhibit 144: Cisco Systems Inc. - Segment focus

• 12.8 CyberArk Software Ltd. 
• Exhibit 145: CyberArk Software Ltd. - Overview
• Exhibit 146: CyberArk Software Ltd. - Product / Service
• Exhibit 147: CyberArk Software Ltd. - Key offerings

• 12.9 Darktrace Holdings Ltd. 
• Exhibit 148: Darktrace Holdings Ltd. - Overview
• Exhibit 149: Darktrace Holdings Ltd. - Product / Service
• Exhibit 150: Darktrace Holdings Ltd. - Key offerings

• 12.10 Forcepoint LLC
• Exhibit 151: Forcepoint LLC - Overview
• Exhibit 152: Forcepoint LLC - Product / Service
• Exhibit 153: Forcepoint LLC - Key offerings

• 12.11 Forescout Technologies Inc. 
• Exhibit 154: Forescout Technologies Inc. - Overview
• Exhibit 155: Forescout Technologies Inc. - Product / Service
• Exhibit 156: Forescout Technologies Inc. - Key news
• Exhibit 157: Forescout Technologies Inc. - Key offerings

• 12.12 Fortinet Inc.
• Exhibit 158: Fortinet Inc. - Overview
• Exhibit 159: Fortinet Inc. - Product / Service
• Exhibit 160: Fortinet Inc. - Key offerings

• 12.13 Microsoft Corp.
• Exhibit 161: Microsoft Corp. - Overview
• Exhibit 162: Microsoft Corp. - Business segments
• Exhibit 163: Microsoft Corp. - Key news
• Exhibit 164: Microsoft Corp. - Key offerings
• Exhibit 165: Microsoft Corp. - Segment focus

• 12.14 Okta Inc.
• Exhibit 166: Okta Inc. - Overview
• Exhibit 167: Okta Inc. - Product / Service
• Exhibit 168: Okta Inc. - Key offerings

• 12.15 Palo Alto Networks Inc. 
• Exhibit 169: Palo Alto Networks Inc. - Overview
• Exhibit 170: Palo Alto Networks Inc. - Product / Service
• Exhibit 171: Palo Alto Networks Inc. - Key news
• Exhibit 172: Palo Alto Networks Inc. - Key offerings

• 12.16 Tenable Holdings Inc. 
• Exhibit 173: Tenable Holdings Inc. - Overview
• Exhibit 174: Tenable Holdings Inc. - Product / Service
• Exhibit 175: Tenable Holdings Inc. - Key offerings

• 12.17 Zscaler Inc.
• Exhibit 176: Zscaler Inc. - Overview
• Exhibit 177: Zscaler Inc. - Product / Service
• Exhibit 178: Zscaler Inc. - Key offerings

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 179: Inclusions checklist
• Exhibit 180: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 181: Currency conversion rates for US$

• 13.4 Research methodology
• Exhibit 182: Research methodology
• Exhibit 183: Validation techniques employed for market sizing
• Exhibit 184: Information sources

• 13.5 List of abbreviations
• Exhibit 185: List of abbreviations

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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provide actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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