Dublin, Jan. 22, 2021 (GLOBE NEWSWIRE) — The “Global Operational Technology (OT) Cybersecurity Market 2020-2023 – IT/OT Convergence are Accelerating Growth Opportunities” report has been added to ResearchAndMarkets.com’s offering.
Global OT cybersecurity market will be worth $18.13 billion by 2023.
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.
In the industry 4.0 era, increased connectivity within and across cyber and physical systems has enabled smart manufacturing while escalating cybersecurity risks.
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.
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.
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?
Key Topics Covered:
1. Strategic Imperatives
- Why Is It Increasingly Difficult to Grow?
- The Strategic Imperative
- The Impact of the Top Three Strategic Imperatives on the OT Cybersecurity Market
- Growth Opportunities Fuel the Growth Pipeline Engine
2. Growth Opportunity Analysis, Global OT Cybersecurity Market
- OT Cybersecurity Market Definitions
- OT Cybersecurity Market Segmentation
- OT Cybersecurity Market Segmentation by Industry
- OT Cybersecurity Market Segmentation by Region
3. Growth Opportunity Analysis, OT Cybersecurity Market
- Key Growth Metrics for the OT Cybersecurity Market
- Growth Drivers for the OT Cybersecurity Market
- Growth Restraints for the OT Cybersecurity Market
- 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
4. Market Revenue and Forecast, 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
5. Key Vendor Profiles, OT Cybersecurity Market
- Cisco Cyber Vision
- Nozomi Networks
6. Growth Opportunity Universe, OT Cybersecurity Market
- Growth Opportunity 1 – Managed Security Services for OT Cybersecurity
- Growth Opportunity 2 – Visibility of Industrial Environment
For more information about this report visit https://www.researchandmarkets.com/r/9ug4i5
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