Global Operational Technology Security Market Research Report Forecast to 2030

The global market for operational technology security is likely to increase at a substantial rate over the forecast period of 2022-2030. Due to the increase in cyberattacks and network security threats, smart operational technologies, and the convergence of IT and OT ecosystems, the global operational technology (OT) security market is anticipated to develop. Industrial internet of things (IIoT) solution adoption is anticipated to present a wide range of opportunities for market participants. Budgetary restrictions and conventional OT security methods, however, can prevent the sector from expanding. 

Because of the potential advantages, including cost and risk savings, improved performance, and increased flexibility, the convergence of operation technology (OT) and information technology (IT) has gained popularity in recent years. In contrast to IT, which comprises all the technologies required for information processing, OT refers to the hardware, sensors, and software needed to operate and monitor machines and other equipment. With independent technology stacks, protocols, standards, governance models, and organisational structures, OT and IT have traditionally been kept in separate realms in the majority of industries. However, as technologies like Internet Protocol (IP) have become more widely used, OT has been able to embrace more IT-like strategies.

Segment Overview
The component, deployment, end use, and regional segments have been used to divide the market for global operational technology security market. The global market has been bifurcated into solution and services based on the component of operational technology security. 

The end user segment has been divided into power & electrical, mining, transportation, manufacturing, others. By deployment, the market has been bifurcated into on-premise, cloud, and hybrid.

Regional Analysis
The operational technology security market is segmented into Americas (North and South), Asia Pacific, Europe, and Middle East & Africa. In terms of market share, North America is anticipated to garner key position among the other regional competitors, partly because the region is adopting emerging technologies at larger pace than others.

Industry awareness and adoption rates are projected to increase as a result of government efforts like Make in India, the Industrial Value Chain Initiative Forum, and Industry 4.0. Furthermore, in the near future, market expansion may be facilitated by IoT investments made by industry leaders. Additionally, the market for operational technology security has a wide range of opportunities due to the fast industrialization and integration of automation to lessen the burden on production lines. Therefore, during the course of the projection period, organisations operating in the worldwide operational technology security market should benefit from the increased investments in IIOT solutions.

Major Players
VMware, Inc., Honeywell International, Inc., HCL Technologies Ltd., Schneider Electric Se, Broadcom, Cisco Systems, Inc., and Kaspersky Lab are some of the affluent contenders holding sizeable operational technology security market share.

COVID 19 Impacts
The global shutdown of offices and other facilities caused by the COVID-19 pandemic has presented a tremendous challenge to businesses worldwide: finding a way to stay operational in spite of the move to remote IT infrastructures, such as cloud systems, data centres, departmental servers, and digital devices. The cybersecurity company Darktrace reported that the percentage of attacks targeting people working from home rose from 12% to over 60% within six weeks of the lockdown. To combat this, micro, small, and medium enterprises began investing in advanced antivirus software.