During the time of forecasting, the power generation and electrical industry is anticipated to have a leading position in the global operational technology security market. The advantage of operational technology encourages infrastructure and IT network convergence, which boosts operational effectiveness.
The demand for operational technology security in the power production and electrical sector has expanded as a result of the digital transformation. Electrical grids are one example of how this is happening as they get smarter and more connected. Smart grid also makes use of big data analytics and IoT technology. A smart grid is an electrical network that uses digital communications technology to enable the two-way movement of data and electricity.
The market for Operational Technology security was valued at US$ 14,803.2 Mn in 2020 and is projected to grow at a CAGR of 7.7% from 2021 to 2028 to reach US$ 26,518.7 Mn.
Top Companies in the Operational Technology Security Industry:
1. Accenture plc: Global management consulting company Accenture was established in 1989 and is headquartered in Dublin, Ireland. The company focuses on providing management consulting, systems integration, business process outsourcing, risk management, information technology, and infrastructure outsourcing services. The banking, financial markets, travel, utilities, communications, healthcare, natural resources, energy, media, technology, and retail sectors are just a few of the many industries that Accenture serves. SKS Group, a consultancy company that works with banks in Germany, Austria, and Switzerland to modernise their technological infrastructure and meet regulatory requirements using SAP S/4HANA® solutions, has been acquired by Accenture (NYSE: ACN).
2. Belden Inc: Distributors, end users, installers, and original equipment manufacturers can all purchase signal transmission components from Belden Inc. Enterprise Solutions and Industrial Solutions are the two divisions in which the company operates. The Enterprise Solutions division offers cabling and connectivity solutions, network infrastructure solutions, and solutions for commercial audio/video and security applications. A supplier of high-performance networking components and machine connectivity products is the Industrial Solutions category. Built in 1902. United States headquarters. Sichert (April 2023) NetModule (March 2022) and Macmon Security (January 2022) are the most recent acquisitions.
3. Cisco Systems, Inc.: Internet Protocol (IP)-based networking technologies are designed, produced, and sold by Cisco Systems to its clients. The company provides a range of goods and services, including as networking software, routers, video, wireless, security, voice, and unified communication, as well as data centre, virtualization, and unified computing solutions. It also offers telepresence, collaboration, and webex. Established in 1984. Admin centre in the U.S.
4. Claroty Ltd: Creator of an industrial cybersecurity platform for businesses with highly automated production facilities and factories that are subject to substantial financial and security risk. Built in 2014. With $400 million, U.S. Corporate Advances Mission to Secure All Cyber-Physical Systems financing and purchasing of medicine
5. CyberX: Creator of an ICS and IIoT risk-reduction platform for industrial cybersecurity. Through data collection across the IIoT environment and the use of Big Data and Machine Learning to enhance the detection of anomalous behaviours, the company's platform offers complete visibility into the IIoT environment as well as real-time detection and alerts of operational incidents, cyber threats, and system tampering. This enables businesses to get immediate results. built in 2013. Microsoft buys CyberX to speed up and secure customers' IoT implementations, with headquarters in the U.S.
6. Cyberbit: Creator of a cyber-range platform that offers a cloud-based, on-demand cyber skilling spectrum and illogical learning routes for developing and using these abilities in practical situations. Built in 2015. Headquarters in Israel. Cyberbit completes $70 million in funding for product improvement.
7. Darktrace: With the first at-scale AI implementation in cybersecurity, Darktrace PLC is a provider of AI for businesses. It is a self-learning AI pioneer and a leader in autonomous response technology. The platform developed by the Group combines machine learning and AI algorithms to counteract cyber threats across many digital domains, including as networks and the cloud, the Internet of Things, and industrial control systems. Geographically, it has a strong presence in the United Kingdom, Europe, and the rest of the world. However, the USA and Canada account for the majority of its revenue. Built in 2013. Located in England, in the United Kingdom.
Definition: OT systems include sensors, monitors, actuators, generators, industrial robots, programmable logic controllers (PLCs), remote processing units (RPUs), and other technologies that, today, are part of the Industrial Internet of Things (IIoT).
