Market Trends of Operational Technology (OT) Security Industry
Cloud Segment to Hold a Significant Market Share
- Industries and businesses are increasingly adopting technologies like artificial intelligence, cloud computing, edge computing, machine learning, and IoT. Many industry leaders are integrating IIoT into their operations to drive business expansion. Government initiatives, including 'Make in India' and 'Industry 4.0', are raising awareness about the advantages of these advanced technologies, fostering a conducive environment for the uptake of cloud-based services.
- Cloud-based OT solutions offer numerous advantages, such as enabling real-time monitoring and analyzing security events within the OT environment. Such timely insights are vital for identifying and addressing threats before they become significant security incidents. Implementing a cloud-based security solution is more straightforward and demands less time and resources than conventional methods. Teams can concentrate on essential security responsibilities with the cloud service provider managing maintenance, updates, and patches.
- Strategies such as Zero Trust, the shared-responsibility model of cloud security, and platform-based cloud security have significantly bolstered security across all tiers—data, application, device, and platform. Additionally, APIs (application programming interfaces) empower manufacturers to swiftly scale their strategies, rendering cloud systems perpetually adaptable to their evolving needs and accelerating adoption.
- As the number of cyberattacks on critical industrial and commercial infrastructure continues to increase, unique features of cloud-based solutions, especially their flexibility and scalability, are anticipated to drive their adoption during the forecast period. For instance, according to IBM, in 2023, the manufacturing sector witnessed the highest number of cyberattacks (25%).
Understand The Key Trends Shaping This Market
Download PDF
Asia-Pacific to Witness Significant Growth
- As advanced digital technologies gain traction in Asia-Pacific, the adoption of operational technology (OT) security solutions is anticipated to surge. The region's expanding commercial and industrial infrastructure further bolsters this growth. With numerous multinational companies operating online and on-premises, the risk of cyber-attacks escalates. Consequently, this heightened risk presents lucrative opportunities for cybersecurity and OT security firms to cater to the diverse needs of these businesses.
- In China, initiatives like digitization and Industry 4.0 are driving a surge in automation across various sectors. These initiatives emphasize the need for innovative solutions, such as robots and advanced control systems, to refine production processes. Bolstered by state investments in factories, infrastructure, and machinery, China's robust manufacturing capabilities have fueled its impressive economic growth.
- The Chinese government is ramping up its focus on cybersecurity and data protection in response to the evolving manufacturing landscape. A notable move came in January 2024 when the Ministry of Industry and Information Technology rolled out guidelines for Cybersecurity Protection in Industrial Control Systems. These guidelines tackle key security vulnerabilities, bolster technical response strategies, and enhance the industry's defenses against network security threats. They also boost threat detection and response capabilities, ensuring a safer operational environment for the industry.
- India is witnessing rapid digitization and industrialization. Recognizing the importance of safeguarding critical infrastructure, the Indian government has ramped up efforts to bolster cybersecurity in the industrial sector. The government aims to fortify the nation's cybersecurity stance through initiatives like the National Cyber Security Policy and the formation of Computer Emergency Response Teams (CERTs). Regulatory frameworks and standards, including the Indian Electricity Grid Code and the Industrial Automation System Security Guidelines, enforce security measures in industrial control systems.
- Given the promising growth prospects, market vendors are intensifying efforts to bolster their presence. For instance, Fortinet, a global frontrunner in cybersecurity, is at the forefront of merging networking with security. Recently, the company underscored its dedication to enhancing security in the operational technology (OT) and critical infrastructure (CI) sectors. This commitment was highlighted by their announcement of new leadership, which is expected to steer OT and CI cybersecurity initiatives across Asia-Pacific.
Get Analysis on Important Geographic Markets
Download PDF
