IT/OT Convergence Accelerating Growth Opportunity in the Global Operational Technology (OT) Cybersecurity Market

IT/OT Convergence Accelerating Growth Opportunity in the Global Operational Technology (OT) Cybersecurity Market

Future Growth Potential Driven by Higher Awareness of Securing OT and ICS Environments

RELEASE DATE
14-Dec-2020
REGION
North America
Deliverable Type
Market Research
Research Code: PB72-01-00-00-00
SKU: IT04255-NA-MT_25040
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Description

In the industry 4.0 era, increased connectivity within and across cyber and physical systems has enabled smart manufacturing while escalating cybersecurity risks. This research assesses the global operational technology (OT) cybersecurity market over the 2018 to 2023 period. OT cybersecurity solutions protect OT systems from cyberattacks and include, but are not limited to firewalls, identity and access management, and SIEM solutions. The convergence of IT and OT environments has created a competitive landscape, where vendors deliver machines with proprietary protocols, while IT cybersecurity solutions providers secure the industrial environment. An emerging set of OT or ICS security services providers partners with the above two parties to focus on OT cybersecurity issues.

Manufacturing is one of the critical segments of the OT cybersecurity market. Rising trade protectionism and labor cost concerns are urging enterprises to consider the reallocation of manufacturing sites across the region. With the chance to relocate or overhaul the sites, enterprises have the opportunity to reconsider security when planning the infrastructure for the sites.

Frost & Sullivan estimates that the overall global OT cybersecurity market will be worth $18.13 billion by 2023. North America is expected to be the largest market, followed by Europe. On the other hand, Asia-Pacific’s OT cybersecurity market is projected to grow at a higher CAGR in the forecast period.

Manufacturing and mining will be the largest sectors with a strong growth trajectory over the study period. The impact of COVID-19 will be significant across these sectors and other key segments, including oil and gas, transportation and smart cities, and power verticals from 2020 to 2023. The study also profiles companies with a prominent business presence in the global OT cybersecurity market, including Cisco Cyber Vision, Claroty, Nozomi Networks, and Kaspersky.

Key Issues Addressed

  • Is the OT cybersecurity market growing? How long will it continue to grow, and at what rate?
  • What are the key market trends? What trends will gain importance in the future?
  • What are the key market drivers and restraints?
  • Which regions were 2019’s best performers?
  • What is the market growth forecast from 2019 to 2023?

Author: Amy Lin

RESEARCH: INFOGRAPHIC

This infographic presents a brief overview of the research, and highlights the key topics discussed in it.
Click image to view it in full size

Table of Contents

Why Is It Increasingly Difficult to Grow?

The Strategic Imperative 8™

The Impact of the Top Three Strategic Imperatives on the OT Cybersecurity Market

Growth Opportunities Fuel the Growth Pipeline Engine™

OT Cybersecurity Market Definitions

OT Cybersecurity Market Definitions (continued)

OT Cybersecurity Market Segmentation

OT Cybersecurity Market Segmentation by Industry

OT Cybersecurity Market Segmentation by Region

Key Growth Metrics for the OT Cybersecurity Market

Growth Drivers for the OT Cybersecurity Market

Growth Drivers for the OT Cybersecurity Market (continued)

Growth Restraints for the OT Cybersecurity Market

Growth Restraints for the OT Cybersecurity Market (continued)

Benefits vs Risks in IT-OT Convergence, OT Cybersecurity Market

Regulatory Environment, OT Cybersecurity Market

IT-OT Convergence by Vertical, OT Cybersecurity Market

Adoption Journey, OT Cybersecurity Market

Top Initiatives, OT Cybersecurity Market

Market Share by Region, OT Cybersecurity Market

Revenue Forecast, OT Cybersecurity Market

Revenue Forecast by Solution Type, OT Cybersecurity Market

Revenue Forecast by Region, OT Cybersecurity Market

Revenue Forecast Analysis by Region, OT Cybersecurity Market

Revenue Forecast by Industry Vertical, OT Cybersecurity Market

Revenue Forecast Analysis by Industry Vertical, OT Cybersecurity Market

Cisco Cyber Vision

Cisco Cyber Vision (continued)

Claroty

Claroty (continued)

Nozomi Networks

Nozomi Networks (continued)

Kaspersky

Kaspersky (continued)

Growth Opportunity 1—Managed Security Services for OT Cybersecurity

Growth Opportunity 1—Managed Security Services for OT Cybersecurity (continued)

Growth Opportunity 2—Visibility of Industrial Environment

Growth Opportunity 2—Visibility of Industrial Environment (continued)

List of Exhibits

Legal Disclaimer

In the industry 4.0 era, increased connectivity within and across cyber and physical systems has enabled smart manufacturing while escalating cybersecurity risks. This research assesses the global operational technology (OT) cybersecurity market over the 2018 to 2023 period. OT cybersecurity solutions protect OT systems from cyberattacks and include, but are not limited to firewalls, identity and access management, and SIEM solutions. The convergence of IT and OT environments has created a competitive landscape, where vendors deliver machines with proprietary protocols, while IT cybersecurity solutions providers secure the industrial environment. An emerging set of OT or ICS security services providers partners with the above two parties to focus on OT cybersecurity issues. Manufacturing is one of the critical segments of the OT cybersecurity market. Rising trade protectionism and labor cost concerns are urging enterprises to consider the reallocation of manufacturing sites across the region. With the chance to relocate or overhaul the sites, enterprises have the opportunity to reconsider security when planning the infrastructure for the sites. Frost & Sullivan estimates that the overall global OT cybersecurity market will be worth $18.13 billion by 2023. North America is expected to be the largest market, followed by Europe. On the other hand, Asia-Pacific’s OT cybersecurity market is projected to grow at a higher CAGR in the forecast period. Manufacturing and mining will be the largest sectors with a strong growth trajectory over the study period. The impact of COVID-19 will be significant across these sectors and other key segments, including oil and gas, transportation and smart cities, and power verticals from 2020 to 2023. The study also profiles companies with a prominent business presence in the global OT cybersecurity market, including Cisco Cyber Vision, Claroty, Nozomi Networks, and Kaspersky.--BEGIN PROMO--

Key Issues Addressed

  • Is the OT cybersecurity market growing How long will it continue to grow, and at what rate
  • What are the key market trends What trends will gain importance in the future
  • What are the key market drivers and restraints
  • Which regions were 2019’s best performers
  • What is the market growth forecast from 2019 to 2023

Author: Amy Lin

More Information
Deliverable Type Market Research
No Index No
Podcast No
Author Amy Lin
Industries Information Technology
WIP Number PB72-01-00-00-00
Is Prebook No
GPS Codes 96,599,519