The Asia Pacific Operational Technology (OT) Security Market would witness market growth of 16.4% CAGR during the forecast period (2022-2028).
Operational technology is in charge of the procedures that, if compromised, could cause key services to go down and cause fatalities. Operational technology solutions are essential for the smooth running of important infrastructure such as water treatment facilities, traffic management, and emergency services. Negative effects may result even from a successful attack on OT organizations not in charge of vital infrastructure. For instance, if safety checks are deleted by a hacker, a food processing facility could distribute contaminated food.
While data theft has been the main goal of cybercriminals, they are now increasingly focusing on OT networks since they are aware of the possibility of disruption brought on by insufficient OT security. Attacks that are more damaging and complex are being developed expressly with operational technology businesses in mind. When IT and OT networks were physically cut off from one another, operational technology networks were historically safeguarded by an air gap.
Greater capacity is required as a result of the demand-supply imbalance, and the Indian manufacturing industry is projected to offer a wide range of investment and trade opportunities. Additionally, the Indian manufacturing sector is increasingly reorienting itself toward more automated and process-driven production. Businesses that formerly relied on labor-intensive techniques are looking to increase automation in order to lower risk and increase efficiency.
The China market dominated the Asia Pacific Operational Technology (OT) Security Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $3,000.7 million by 2028.The Japan market is estimated to grow a CAGR of 15.7% during (2022 - 2028). Additionally, The India market would experience a CAGR of 17.1% during (2022 - 2028).
Based on Offering, the market is segmented into Solutions and Services. Based on Vertical, the market is segmented into Manufacturing, Energy & Power, Oil & Gas, BFSI and Others. Based on Deployment Mode, the market is segmented into On-premise and Cloud. Based on Organization Size, the market is segmented into Large Enterprises and Small & Medium Enterprises. Based on countries, the market is segmented into China, Japan, India, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
Free Valuable Insights: The Worldwide Operational Technology (OT) Security Market is Projected to reach USD 34.9 Billion by 2028, at a CAGR of 15.5%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Microsoft Corporation, Broadcom, Inc. (Symantec Corporation), Cisco Systems, Inc., Fortinet, Inc., Forcepoint LLC (Francisco Partners), Tenable Holdings, Inc., Check Point Software Technologies Ltd., FireEye, Inc., Palo Alto Networks, Inc., and Kaspersky Lab.
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