Connect with us
MARE BALTICUM Gaming & TECH Summit 2024

Artificial Intelligence

Operational Technology (OT) Security Market worth $44.9 billion by 2029- Exclusive Report by MarketsandMarkets™

Published

on

operational-technology-(ot)-security-market-worth-$44.9-billion-by-2029-exclusive-report-by-marketsandmarkets™

CHICAGO, May 8, 2024 /PRNewswire/ — Operational technology (OT) security is expected to grow in the future due to factors like digitalization driving adoption, convergence with IT security, and a focus on threat detection and response. Anticipate a concentration on adhering to regulations, incorporating IT security operations, and consistently innovating to tackle changing cyber threats and guarantee operational durability in over-the-horizon settings.

The Operational Technology Security Market is expected to grow from USD 20.7 billion in 2024, to USD 44.9 billion by 2029, at a compound annual growth rate (CAGR) of 16.8% during the forecast period, according to a new report by MarketsandMarkets™. The escalating reliance on Operational Technology (OT) in vital infrastructure underscores the urgency for robust security measures. Unlike Information Technology (IT), OT systems oversee real-time physical processes, rendering them vulnerable to disruptions and attacks. This overview primes a thorough examination of OT security, encompassing its definition, significance, and evolving threat landscape. It delves into critical concepts like attack vectors, threat actors, and security controls while tackling challenges such as system heterogeneity and limited security expertise. Moreover, it delineates prevailing and emerging OT security solutions, encompassing frameworks, products, services, and best practices. SIEM for OT, asset discovery and management, network security, vulnerability management, IAM, and data security are vital components tailored to address OT environments’ evolving cyber threats, enhancing overall security posture.
Browse in-depth TOC on “Operational Technology Security Market”509 – Tables 64 – Figures437 – Pages
Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=18524133
Scope of the Report
Report Metrics
Details
Market size available for years
2018–2029
Base year considered
2023
Forecast period
2024–2029
Forecast units
Value (USD Billion)
Segments Covered
By Offering, By Organization Size, By Deployment mode, By Vertical, and By Region
Geographies covered
North America, Europe, Asia Pacific, Middle East Africa, and Latin America
Major companies covered
Major vendors in the global Operational Technology Security Market include Fortinet (US), Forcepoint (US), Cisco (US), Tenable (US), Forescout (US), Checkpoint (Israel), Broadcom (US), Trellix (US), Microsoft (US), OKTA (US), Palo Alto Networks (US), Qualys (US), Zscaler (US), BeyondTrust (US), CyberArk (US), Rapid7 (US), Sophos (US), Tripwire (US), Radiflow (Israel), Kaspersky (Russia), SentinelOne (US), Thales (France), Armis (US), Darktrace(US), Nozomi networks (US), Honeywell (US), Schneider Electric (France), Siemens (Germany), ABB (Switzerland), Forcepoint (US)
By offering the services segment to grow with the highest CAGR during the forecast period.
The global OT security market, by service, has been segregated into consulting & integration, support & maintenance, training & development, incident response services, and managed security services. Various industries and business models are at risk of disruption due to rapid technological advancements, which introduce new business models and alter distribution channels and interactions. OT security services are crucial for integrating and managing solutions across business operations, offering comprehensive support to protect critical infrastructure from cyber threats. Increased virtualization and cloud computing adoption drive demand for these solutions globally. They also aid organizations in real-time analysis of dynamic network communication and managing relationships with suppliers, partners, and vendors.
Request Sample Pages@ https://www.marketsandmarkets.com/requestsampleNew.asp?id=18524133
By Deployment mode, the cloud segment will grow at a higher CAGR during the forecast period.
Cloud-based OT security solutions provide businesses with a cost-effective means to bolster their security measures, irrespective of industry. Offering easy access and implementation without extensive on-site setups, cloud deployment’s flexibility, and scalability are desirable as more enterprises embrace virtualization and cloud computing. This shift reduces infrastructure costs and eliminates constant IT maintenance, making it especially appealing for small to medium-sized enterprises (SMEs) with limited budgets. Streamlining access control management in physical and virtual environments, these solutions ensure robust protection against cyber threats. As businesses increasingly migrate their IT operations to the cloud, the demand for cloud-based security solutions continues to surge, enabling companies to focus on core activities while entrusting IT security complexities to specialized cloud services, driving market expansion.
By region, Asia Pacific will grow at the highest CAGR during the forecast period.
The Operational Technology (OT) Security Market in the Asia Pacific region is rapidly expanding. Companies operating in the market focus on providing comprehensive solutions and services to protect critical infrastructure, industrial processes, and essential services. The region is undergoing rapid digital transformation, with increased IT and OT systems integration. While digitalization enhances operational efficiency, it also introduces new security risks. OT security solutions must cater to the challenges of securing converged networks and effectively manage the associated risks. Governments in the Asia Pacific region have implemented various initiatives and regulations to enhance OT security. For instance, countries like Singapore have established cybersecurity frameworks, while Australia has specific guidelines for securing critical infrastructure. Compliance with these regulations is essential for organizations operating in the region. Attacks on critical infrastructure have a ripple effect on the economy.
Top Key Companies in Operational Technology (OT) Security Market:
Fortinet (US), Forcepoint(US), Cisco(US), Tenable (US), Forescout (US), Checkpoint (Israel), Broadcom (US), Trellix (US), Microsoft (US), OKTA(US), Palo Alto Networks(US), Qualys (US), Zscaler (US), BeyondTrust (US), CyberArk (US), Rapid7 (US), Sophos (US), Tripwire (US), Radiflow (Israel), Kaspersky (Russia), SentinelOne (US), Thales (France), Armis (US), Darktrace(US), Nozomi networks (US), Honeywell (US), Schneider Electric(France), Siemens (Germany), ABB(Switzerland), Forcepoint(US)  are the key players and other players in the Operational Technology Security Market.
Recent Development
In December 2023, Fortinet, a global cybersecurity leader, announced new integrated operational technology (OT) security solutions and services, setting them apart in the market. Recognizing the rising risks across OT environments, Fortinet offers purpose-built solutions that consolidate security measures, reduce operational overhead, and enforce policies. These include the FortiSwitch Rugged 424F, FortiAP 432F access point, and FortiExtender Vehicle 211F wireless gateway, along with updates to FortiOS, FortiAnalyzer, FortiNDR, FortiDeceptor, and FortiGuard OT Security Service.In April 2023, The FortiGate 7080F represents a cutting-edge lineup of next-generation firewalls (NGFWs) designed specifically for businesses. These innovative firewalls go beyond traditional point products, streamlining operations and simplifying security infrastructure.In May 2021, Forcepoint acquired Cyberinc IT Services and IT Consulting company based in the US. Forcepoint has intelligent remote browser isolation (RBI) technology that gives administrators granular control. It also has Smart Isolation capabilities to help Forcepoint enhance user productivity, lower operational burdens, and eliminate traditional monolithic products through a best-in-class SASE cloud service.In January 2021, Francisco Partners, a leading global investment firm that specializes in partnering with technology and technology-enabled businesses, acquired Forcepoint, a leading provider of cybersecurity solutions.Inquire Before Buying@ https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=18524133
Operational Technology (OT) Security Market Advantages:
OT security solutions provide continuous operations and minimise possible disruptions by defending vital infrastructure from cyber threats, including industrial plants, transportation networks, and power plants.By helping businesses conform to industry-specific standards and regulations like NERC CIP, IEC 62443, and NIST, OT security solutions help them maintain cybersecurity compliance and prevent fines and legal repercussions.Advanced threat detection and response capabilities catered to the particularities of OT settings are made possible by OT security solutions. These solutions provide prompt incident response and mitigation in addition to providing fast identification of anomalies, incidents, and security breaches.Organisations can identify and track OT assets, keep an eye on their settings and vulnerabilities, and enforce security policies to prevent unauthorised changes or access by using OT security solutions, which also provide inventory management and asset visibility tools.In order to ensure comprehensive and well-coordinated cybersecurity defence throughout the entire organisation, OT security solutions integrate with IT security systems and tools, facilitating easy collaboration between IT and OT teams, sharing of threat intelligence, and coordination of security activities.By detecting and fixing vulnerabilities, enhancing system dependability, and putting proactive steps in place to stop and lessen cyber incidents, OT security solutions improve operational resilience by reducing the impact of interruptions on business operations and continuity.Report Objectives
To define, describe, and forecast the Operational Technology Security Market based on offering, organization size, deployment mode, vertical, and region.To forecast the market size of five central regions: North America, Europe, Asia Pacific (APAC), Middle East & Africa (MEA), and Latin America.To analyze the subsegments of the market concerning individual growth trends, prospects, and contributions to the overall market.To provide detailed information related to the primary factors (drivers, restraints, opportunities, and challenges) influencing the growth of the Operational Technology Security Market.To analyze opportunities in the market for stakeholders by identifying high-growth segments of the Operational Technology Security Market.To profile the key players of the Operational Technology Security Market and comprehensively analyze their market size and core competencies.Track and analyze competitive developments, such as new product launches, mergers and acquisitions, partnerships, agreements, and collaborations in the global Operational Technology Security Market.Browse Adjacent Market: Information Security Market Research Reports & Consulting
Browse Other Reports:
Perimeter Security Market – Global Forecast to 2029
Self-Sovereign Identity Market- Global Forecast to 2029
Attack Surface Management Market- Global Forecast to 2029
DDoS Protection and Mitigation Security Market- Global Forecast to 2027
Threat Intelligence Market- Global Forecast to 2026
About MarketsandMarkets™
MarketsandMarkets™ has been recognized as one of America’s best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets™ is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America’s best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines – TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the ‘GIVE Growth’ principle, we work with several Forbes Global 2000 B2B companies – helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore™ (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets™.com or follow us on Twitter, LinkedIn and Facebook.
Contact:Mr. Aashish MehraMarketsandMarkets™ INC.630 Dundee RoadSuite 430Northbrook, IL 60062USA: +1-888-600-6441Email: [email protected] Insight: https://www.marketsandmarkets.com/ResearchInsight/operational-technology-ot-security-market.aspVisit Our Website: https://www.marketsandmarkets.com/Content Source: https://www.marketsandmarkets.com/PressReleases/operational-technology-ot-security.asp
Logo: https://mma.prnewswire.com/media/2297424/MarketsandMarkets_Logo.jpg
 

View original content:https://www.prnewswire.co.uk/news-releases/operational-technology-ot-security-market-worth-44-9-billion-by-2029–exclusive-report-by-marketsandmarkets-302139906.html

Continue Reading

Artificial Intelligence

Digital China’s Guo Wei Shares ‘China’s Sample’ of Global Digital Innovation with London Business School

Published

on

digital-china’s-guo-wei-shares-‘china’s-sample’-of-global-digital-innovation-with-london-business-school

LONDON, May 22, 2024 /PRNewswire/ — On May 21st, at the invitation of London Business School (LBS), Guo Wei, Chairman of Digital China, participated in the esteemed “Managing the Digital Organization” lecture, engaging with a cohort of prospective business leaders. Focusing on the trending topics of ‘Artificial Intelligence’ and ‘Digital Transformation’, he imparted the digital philosophy and practices of Chinese enterprises amidst the digital civilization era.

Digital China, a prominent player in China’s digital economy, has harnessed over two decades of deep involvement in the nation’s information industry to embrace the power of digitization. This has culminated in what Guo Wei refers to as ‘China’s Vibrant Blueprint for Digital Transformation’, carving a distinctive path of digital metamorphosis. Notably, Digital China’s transformation narrative has been incorporated into LBS’s esteemed case library, underscoring its significance as a teaching instrument.
In his lecture, Guo Wei emphasized that the digital economy now constitutes the backbone of supply, with digital technology emerging as the paramount catalyst for economic expansion. The hastening pace of global digitization propels us into an epoch of digital civilization. For multinational corporations, digital strategies have escalated to the status of corporate strategy, and the amassing of data assets constitutes the pivotal lever for business innovation. Amidst this evolution, AI-fueled digital-cloud integration signifies a disruptive technological innovation, poised to invigorate the global landscape. Digital China feels honored to reprise its role in elite international business school case repositories, thereby contributing insights to academia. This recognition signifies that Chinese enterprises’ digital and AI acumen resonates globally, exemplifying world-class practices.
Professor Julian Birkinshaw, Vice Dean and Professor of Strategy and Entrepreneurship at LBS, remarked, “As a global institution, we constantly seek out exemplary cases worldwide. Digital China was chosen not solely due to its prominence in China but also its sophisticated implementation of digital technologies, demonstrating adaptability and offering invaluable insights to our students about the contemporary business milieu. The story of Digital China encapsulates Mr. Guo Wei’s philosophy – digitization transcends being a mere process; it embodies the existential rationale for companies. This philosophy underpins our decision to feature Digital China in our case studies.”
Photo – https://mma.prnewswire.com/media/2419014/Digital_China_s_Guo_Wei_Professor_Julian_Birkinshaw.jpg

View original content:https://www.prnewswire.co.uk/news-releases/digital-chinas-guo-wei-shares-chinas-sample-of-global-digital-innovation-with-london-business-school-302152277.html

Continue Reading

Artificial Intelligence

Saviynt Appoints James Ross as RVP-ANZ to Strategically Accelerate Growth in the Australia and New Zealand Region

Published

on

saviynt-appoints-james-ross-as-rvp-anz-to-strategically-accelerate-growth-in-the-australia-and-new-zealand-region

LOS ANGELES, May 22, 2024 /PRNewswire/ — Saviynt, a leading provider of cloud-native identity and governance platform solutions, today announced the appointment of James Ross as RVP-ANZ as the company has seen rapid growth in the Australia and New Zealand (ANZ) region, with double digit growth year over year.

Saviynt has solidified its position as a key player in the cloud identity security landscape with its Identity Cloud. The company’s continued focus on innovation and client satisfaction has contributed significantly to building a safer Australia with prominent customers across the energy and utilities, finance, retail, energy, and transport and logistics sectors.
“James’ appointment as the Regional Vice President (RVP) for ANZ marks a strategic move to accelerate growth and solidify market presence in the region,” said Dan Mountstephen, SVP APAC at Saviynt. “With a proven track record of dynamic leadership at Collibra, ForgeRock, and CA Technologies, James brings a wealth of experience and expertise to the role. His visionary approach and collaborative spirit are poised to inspire and mobilize teams toward ambitious targets.”
Saviynt has consistently expanded its client base and deepened its relationships with existing customers through customized solutions and unparalleled support, cementing its reputation as a trusted partner in the region’s cybersecurity ecosystem. As RVP ANZ, Ross is set to foster key partnerships and implement agile strategies to propel the company towards new heights of success in the dynamic ANZ market.
“Joining Saviynt excites me because it’s an opportunity to help more organizations simplify their identity ecosystem in order to drive efficiencies and improved security posture. I am committed to leveraging Saviynt’s cutting-edge solutions to continue to broaden our partnerships in the region to improve our accessibility for customers, strengthen our regional delivery, whilst continuing to provide a great customer experience,” said Ross.
To learn more about Saviynt, please visit our website.
About Saviynt
Saviynt empowers enterprises to secure their digital transformation, safeguard critical assets, and meet regulatory compliance. With a vision to provide a secure and compliant future for all enterprises, Saviynt’s cutting-edge solutions have been recognized as industry leaders. For more information, please visit www.saviynt.com.
Press Contact
Jacklyn [email protected]
Photo: https://mma.prnewswire.com/media/2418209/James_Ross_RVP_ANZ_Saviynt.jpg
 

View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/saviynt-appoints-james-ross-as-rvp-anz-to-strategically-accelerate-growth-in-the-australia-and-new-zealand-region-302151644.html

Continue Reading

Artificial Intelligence

Appdome Sweeps Cybersecurity Excellence Awards

Published

on

appdome-sweeps-cybersecurity-excellence-awards

Unified Mobile Defense Platform Recognized for Innovation and Leadership Across Nine Cybersecurity Categories
REDWOOD CITY, Calif., May 21, 2024 /PRNewswire/ — Appdome, the mobile app economy’s one-stop shop for mobile defense, today announced it has received a total of nine (9) Cybersecurity Excellence Awards. The Appdome Unified Mobile App Defense Platform was awarded best in class across nine categories in recognition of the comprehensive breadth, depth and value of the Appdome platform to brands and enterprises alike.

“We congratulate Appdome on being recognized as an award winner in 9 categories of the 2024 Cybersecurity Excellence Awards,” said Holger Schulze, CEO of Cybersecurity Insiders and founder of the 600,000-member Information Security Community on LinkedIn, which organizes the 9th annual Cybersecurity Excellence Awards. “With over 600 entries across more than 300 categories, the awards are highly competitive. Appdome’s achievement reflects outstanding commitment to the core principles of excellence, innovation, and leadership in cybersecurity.”
Within a single pane of glass, Appdome delivers the most complete set of no-code, no-SDK, fully automated mobile defenses to mobile brands and enterprises, empowering mobile developers, cybersecurity, fraud and IT teams to deliver on any mobile cyber objective quickly and easily.
The nine (9) categories in which Appdome received a Cybersecurity Excellence Award are:
Mobile Security Platform: Appdome is the only enterprise-grade mobile security platform built for full mobile defense lifecycle management, visibility and control to brands and enterprises alike, including key features for build, test, release, monitor, response, and compliance automation. Mobile Security Automation: Appdome is the only mobile defense solution that uses machine learning to code and build over 300+ mobile app security, anti-fraud, anti-cheat, anti-malware, anti-bot, geo-compliance and other defenses in Android & iOS apps in the DevOps pipeline.Mobile Social Engineering Defense:  The Appdome Social Engineering Prevention solution is the first of its kind to protect mobile users from voice phishing (Vishing) scams and other imposter scams, T.O.A.D. attacks, Remote Access Trojans (RATs), Gold Pickaxe, FaceID bypass and more without an SDK or external servers.Mobile Bot Defense: The Appdome MOBILEBot™ Defense solution is the first mobile anti-bot solution to come out of the box compatible with any industry standard web application firewall (WAF) on the market and provide multi-layered bot, credential stuffing and Account Take Over (ATO) defense without an SDK, external server, performance limits, or restrictions.Mobile Geo Compliance:  Only the Appdome Mobile Geo-Compliance solution guarantees accurate and authentic geo location of mobile devices, applications and users without code or coding in the mobile app, without implementing an SDK and without deploying additional servers.Mobile XDR: The Appdome ThreatScope™ Mobile XDR solution is the only mobile attack and threat monitoring service that comes pre-packaged into the mobile defense lifecycle, requires no device agent, device profile, separate code, coding, SDK or server, and provides real-time detection and automated response across internal (employee facing) and external (consumer facing) Android & iOS apps.DevOps Mobile Security Tool: The Appdome platform’s fully integrated Security Release Management™ capabilities and Appdome Certified Secure™ mobile DevSecOps certification offer the only true enterprise-grade compliance assurance, audit and control for mobile defense at brands and enterprises, allowing quick verification that all security, anti-fraud and compliance objectives have been met.   Mobile Application Security:  With 300+ separate defenses for mobile apps, Appdome has the most comprehensive set of mobile application security features available in one product, fully compatible with all mobile Android & iOS apps.”Nine Cybersecurity Excellence Awards for Mobile Defense tells a very compelling story for the incredibly complex Dev, Sec, and Ops challenges organizations face detecting and defeating mobile-based risks and attacks,” said Chris Roeckl, Chief Product Officer at Appdome. “Point products make these challenges worse by adding complexity and overloading already taxed cyber and engineering teams. Appdome is the only platform simplifying work, bringing all these unique challenges under a single pane of glass, delivering 300+ protections and simultaneously resolving the security, fraud, resilience and compliance challenges brands and enterprises face.”
Learn more about the award-winning Appdome Platform at www.appdome.com or request a personalized demo at https://www.appdome.com/request-a-demo/appdome-home/
The full list of awards are available from the Cybersecurity Excellence Awards website  https://cybersecurity-excellence-awards.com/
About AppdomeThe Appdome mission is to protect every mobile app and mobile user in the world. Appdome provides the mobile industry’s only Unified Mobile App Defense platform, powered by a patented mobile coding engine, Threat-Events™ Threat-Aware UX/UI Control, and ThreatScope™ Mobile XDR. Using Appdome, mobile brands eliminate complexity, ship faster and save money by delivering 300+ Certified Secure™ mobile app security, anti-malware, anti-fraud, mobile anti-bot, anti-cheat, geo compliance, MiTM attack prevention, code obfuscation, social engineering and other protections in Android and iOS apps with ease, inside the mobile DevOps and CI/CD pipeline. Leading financial, healthcare, government and m-commerce brands use Appdome to protect Android and iOS apps, mobile customers and mobile businesses globally. Appdome holds several patents including U.S. Patents 9,934,017 B2, 10,310,870 B2, 10,606,582 B2, 11,243,748 B2 and 11,294,663 B2. Additional patents pending.
Logo – https://mma.prnewswire.com/media/772169/AppDome_Logo_9_27_23.jpg

View original content:https://www.prnewswire.co.uk/news-releases/appdome-sweeps-cybersecurity-excellence-awards-302151786.html

Continue Reading

Trending