LAMEA Operational Technology (OT) Security Market Size, Share & Industry Trends Analysis Report By Offering, By Vertical (Manufacturing, Energy & Power, Oil & Gas, BFSI), By Deployment Mode, By Organization Size, By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Latin America, Middle East and Africa Operational Technology (OT) Security Market would witness market growth of 22.6% CAGR during the forecast period (2022-2028).
While this does not offer complete security against cyber threats, it made it easier for an attacker to reach and exploit vulnerable OT assets. Companies must restore the air gap as IT and OT networks merge in order to safeguard older systems that weren't intended to be linked to the Internet. A firewall that is familiar with OT-specific protocols can examine traffic for potentially dangerous content or orders and impose access rules beyond OT network segment boundaries due to network segmentation, which enables the separation of assets inside the network.
As a result of the possibility of false positive mistakes in threat prevention systems, cybersecurity tactics are frequently detection-focused. A mistaken labelling and blocking of a normal process as harmful could have an effect on the system's performance and availability. Due to this, OT security was frequently reactive, with viruses and threats being treated as needed. This kind of security causes OT systems to become infected with malware, endangering their ability to function.
The LAMEA region has consistently placed a strong emphasis on sustainable development while simultaneously hoping to grow its oil and gas sector, which already makes a significant contribution to the region's economic development. The oil industry has a significant impact on both the UAE's internal and exterior policies. Since the discovery of oil and gas more than 50 years ago, the United Arab Emirates has been a significant player in the hydrocarbon energy sector.
The Brazil market dominated the LAMEA 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 $721.9 million by 2028.The Argentina market is experiencing a CAGR of 23.3% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 22.3% 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 Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
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.
Scope of the Study
Market Segments Covered in the Report:
- Energy & Power
- Oil & Gas
By Deployment Mode
By Organization Size
- Large Enterprises
- Small & Medium Enterprises
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- 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.
- Kaspersky Lab
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