Discover Top Posts Tagged with #operational technology security

OT Security Risks in Oil and Gas Operations

Operational Technology security in the oil and gas sector focuses on protecting industrial systems such as SCADA, PLCs, DCS, and other control technologies that manage critical operations across drilling, refining, storage, and pipeline transportation. As oil and gas companies increasingly adopt digital technologies and connect industrial environments with IT networks, the risk of cyberattacks on operational infrastructure continues to rise. Effective OT security helps organizations safeguard critical assets, maintain operational continuity, prevent safety incidents, and reduce the risk of disruptions caused by ransomware, insider threats, and other cyber threats targeting industrial environments.

In this blog, you’ll find the major OT security risks in oil and gas operations, the impact of cyber threats on industrial infrastructure, and why implementing strong cybersecurity for oil and gas industry environments is essential for operational resilience.

Operational Technology (OT) security in the oil and gas sector focuses on protecting industrial systems such as SCADA.

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Fortinet boosts OT security with advanced features and partnerships

Fortinet has upgraded its Operational Technology (OT) Security Platform with new features and enhanced partnerships. Key updates include advanced secure networking capabilities, ruggedized appliances like the FortiSwitch Rugged series, and expanded OT security operations through AI-driven tools like FortiSOAR and FortiNDR. These improvements aim to address rising cyber threats in cyber-physical…

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Operating Technology Security Systems are usually run by antiquated software and not accessible on the internet.

Operational Technology (OT) is a hardware and software combination that is used to control and monitor devices, physical processes, and infrastructure. Operational technology is used in a variety of asset-intensive industries to conduct tasks ranging from controlling robots on the production floor to monitoring crucial infrastructure. Power generating and electricity, manufacturing, transportation and logistics, mining, and other industries are all implementing operational technology solutions. Over the projection period, demand for operational technology is predicted to rise. The increase is mostly due to an increase in the frequency of cyber assaults against OT systems.

Information Technology (IT) and operational technology (OT) networks used to function separately. Operational Technology Security System are mainly run on antiquated software and are not accessible through the internet. As Industry 4.0 becomes more widely used, the technology divide between IT and OT systems is narrowing. Organizations may control whole plant processes remotely using OT with an open system, resulting in increased efficiency and production. Industrial systems, on the other hand, are growing increasingly vulnerable as they become more interconnected.

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#Operational Technology Security

Operational Technology Security Market to Show Rapid Growth as IIoT Solution Adoption Rise 2025

Operational Technology Security Market

Market Research Future (MRFR) in its new “Operational Technology (OT) Security Market” report, reveals that the worldwide market of operational technology security that was valued at USD 200.0 million in 2018 is likely to increase to USD 3,531.0 million by 2025. MRFR insights suggest that the global operational technology security market is expected to thrive at a lucrative 42.2% across the forecast span of 2018 to 2025.

The growth of the operational technology security market can be attributed to increase cases of data breach, surge in cyber threats, convergence of IT and OT ecosystems, and increase in dependence on legacy systems. The growing rate of adoption of the industrial Internet of Things (IIoT) solutions by enterprises can contribute to the expansion of the operational technology security market across the forecast period. Worklife flexibility is highly appreciated by employees. Hence, the BYOD culture is gaining popularity. But, at the same time this is likely to increase operational risks. The surge in the adoption of OT security solutions by enterprises can prompt the expansion of the market. On the contrary, mounting complexities of systems and lack of expertise can restrict the expansion of the OT security market in the years of assessment.

Segmental Analysis

The global market of OT security market is segmented by deployment mode, industry, and component.

By component, the market is segmented into services and solutions. The solution segment is expected to secure the grand share of the global market. This is due to the dependence of enterprise on legacy systems that create scope for cyber-attacks. On the other side, the services segment is expected to expand at a higher CAGR. The solution segment is sub-segmented into OT endpoint security, OT network segmentation, incident response, anomaly detection, and reporting. The services segment is sub-segmented into managed services and professional services. The professional services segment is further narrowed down to deployment, consulting services, implementation services, and other type of support services.

By deployment, the market is segmented into hybrid, cloud, and on-premise. The on-premise segment is expected to dictate the market progress. The expansion of the on-premise segment can be attributed to seamless operation of OT security solutions. The hybrid segment is likely to gain high profit across the forecast span.

By industry, the market is segmented into power and electrical, manufacturing, transportation, mining, and others. The manufacturing segment is classified into process manufacturing and discrete manufacturing. As per MRFR’s analysis, the manufacturing segment is expected to make the highest profit for the global OT security market owing to the rise in the frequency of cyber-attacks. The power and electrical segment is likely to register the highest CAGR in the period of forecast.

Regional Analysis

By region, the global OT security market has been segmented into North America, Europe, Asia-Pacific, the Middle East and Africa, and South America. North America accounted for the largest market in 2018 owing to the presence of vendors and technical skillset to deploy the solution. Europe gained the second spot in the OT security market attributed to the increasing investments in OT spending and increased adoption of OT security solutions across the energy and power sector.

Key Players

The key players in the global OT security market are Forescout Technologies Inc (US), MAVERICK Technologies, LLC (US), Rockwell Automation, Inc. (US), Schneider Electric (France), Symantec Corporation (US), Cyberbit Ltd (Israel), Palo Alto Networks, Inc. (US), Cisco Systems, Inc (US), Honeywell International Inc (US), General Electric (Wurldtech) (US), Siemens (Germany). Carbon Black, Inc (US), Kaspersky Lab (Russia), Verve Industrial Protection (US), and PAS Global, LLC (US)

More Information@

Operational Technology Security Market by Share, Growth and Forecast – 2025 | MRFR

Operational Technology Security Market is likely to register a CAGR of 42.2% during the Assessment…

Read on marketresearchfuture.com

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Jan 09, 2019 (Heraldkeeper via COMTEX) -- Summary WiseGuyReports.com adds “Operational Technology Security Market 2019 Global Analysis, Growth, Trends and...

“Operational Technology Security Market 2019 Global Analysis, Growth, Trends and Opportunities Research Report Forecasting to 2024” reports to its database.

#Operational Technology Security

Operational Technology Security Market is likely to register a CAGR of 42.2% during the Assessment Period, Global Operational Technology Security Market Research Report by Component, Deployment Modeand by Region | Operational Technology Security Industry

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Operational Technology Security Market is estimated to grow at a CAGR of 16.4% during forecast 2025

Summary

Global Operational Technology Security Market Size, Share, Growth, Trends, Analysis by Component [Solution (OT Endpoint Security, OT Network Segmentation, Anomaly Detection, Incident Response and Reporting), Services [Professional Service (Consulting Services, Deployment and Implementation Services, Other Support Service), Managed Services], Deployment Mode(Cloud, On-Premise, Hybrid), Industry [Manufacturing(Discrete and Process), Power and Electrical, Mining, Transportation) and by Region (North America, Europe, Asia-Pacific, Middle East and Africa and South America) - Forecast till 2025

Operational Technology Security Market Overview

According to MRFR analysis, the global OT security market was valued at USD 200.0 million in 2018 and is expected to register a CAGR of 42.2% during the forecast period to reach USD 3,531.0 million by 2025. The propelling factors that contribute to the market growth include the integration of IT and OT systems, surge in the risk of cyber threats on critical infrastructure and increasing dependence on legacy systems.

The global OT security market has been segmented based on component, deployment mode, industry, and region.

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Key Players

Market Segmentation

By component, the global Operational Technology (OT) Security Market has been bifurcated into solutions and services. The solution segment accounted for the larger market share in 2018 owing to dependence on legacy systems which are vulnerable to cyber attacks. However, the services segment is expected to exhibhit the higher CAGR. The solution segment is further categorized into OT network segmentation, OT endpoint security, and anomaly detection, and incident response and reporting. Also, the services segment has been sub-divided into professional services and managed services. The professional services segment has been categorized into consulting services, deployment and implementation services, and other support services. The professional services accounted for the larger market share in 2018 whereas managed services segment is projected to exhibit the higher CAGR.

By deployment mode, the OT market has been segmented into cloud, on-premise, and hybrid. The on-premise segment accounted for the largest market share in 2018; the growth has been attributed to seamless operation and functionality of the solution that drives the adoption. Additionally, hybrid mode is presumed to exhibit the highest CAGR during the forecast period.

Based on industry, the global OT security market has been categorized into manufacturing, power and electrical, mining, transportation, and others. Furthermore, the manufacturing segment has been subdivided into discrete manufacturing and process manufacturing. The manufacturing segment accounted for the largest market share in 2018 due to the increasing frequency of cyberattacks. Whereas, the power and electrical segment is anticipated to exhibit the highest CAGR during the forecast period.

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About Market Research Future

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

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