Blockchain Press Releases

Operational Technology (OT) Security Market worth $38.2 billion by 2028 – Exclusive Report by MarketsandMarkets™

Published

2 years ago

June 23, 2023

CHICAGO, June 23, 2023 /PRNewswire/ — With the rising IIoT usage, changing threat landscape, integration of AI/ML, risk-based approaches, convergence of IT and OT security, regulatory advancements, and continued vendor innovation, the future of the OT security industry appears bright. The need for cutting-edge OT security solutions to safeguard crucial infrastructure will be fuelled by these considerations.

The global Operational Technology (OT) Security Market size is expected to grow from an estimated value of USD 17.9 billion in 2023 to 38.2 billion USD by 2028, at a Compound Annual Growth Rate (CAGR) of 16.3% from 2023 to 2028, according to a new report by MarketsandMarkets™. Some factors driving the market growth include the rising demand for Industry 4.0 and smart infrastructure and the convergence of OT and IT infrastructure to fuel OT security market growth.

Browse in-depth TOC on “Operational Technology (OT) Security Market“

349 – Tables
55 – Figures
310 – Pages

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Scope of the Report

Report Metrics	Details
Market size available for years	2017–2028
Base year considered Advertisement	2022
Forecast period	2023–2028
Forecast units	Value (USD) Advertisement
Segments covered	Offering, deployment mode, organization size, vertical, and region
Geographies covered	Americas, Europe, Asia Pacific, and Middle East and Africa
Major companies covered Advertisement	Broadcom (US), Cisco (US), Fortinet (US), Forcepoint (US), Forescout (US), Trellix (US), Zscaler (US), Darktrace (UK), CyberArk (US), BeyondTrust (US), Microsoft (US), Kaspersky (Russia), Nozomi Networks (US), Rapid7 (US), Checkpoint (Israel), Okta (US), Palo Alto Networks (US), Qualys (US), Radiflow (US), SentinelOne (US), Sophos (UK), Tenable (US), Thales (France), Tripwire (US), Armis (US), Seckiot (France), Siga OT Solutions (Israel), OPSWAT (US), Claroty (US), Cydome (Israel), Dragos (US), Mission Secure (US), Ordr (US), runZero (US), Scadafence (US) and Sectrio (US).

By deployment mode, the On-Premises segment is projected to hold the largest market share during the forecast period.

The Operational Technology (OT) Security Market can be classified based on deployment into two main segments: cloud and on-premises, per business requirements. These deployment options offer distinct advantages and considerations for organizations seeking to secure their critical infrastructure from cyber threats. The cloud deployment mode of OT security solutions provides enterprises with cloud-based solutions that offer speed, scalability, and enhanced OT security. As more applications are deployed in the cloud, there is an increase in the need for cloud-based OT security solutions among SMEs and large enterprises. The on-premises deployment mode enables organizations to control all OT security solutions, such as NGFWs, threat investigation, antivirus/antimalware protection, and next-generation intrusion prevention systems.

By verticals, the manufacturing segment holds a larger market size during the forecast period.

OT security solutions are being implemented across various verticals, such as manufacturing, energy & power (generation), oil & gas (distribution), transportation, and logistics. Among the verticals, the manufacturing vertical dominates the OT security solutions market size. The increasing attacks on the manufacturing vertical imply a crucial need for companies with OT infrastructure responsibility to secure the endpoints of their OT systems and networks. The drivers for market size growth of OT security solutions include the requirement of OT security solutions and services to help organizations overcome operational challenges and overcome the challenges associated with the cost of supplies and increased cost of inventory management, resulting in the increment of OT security solutions demand in the market.

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By region, Asia Pacific is to grow at the highest CAGR during the forecast period.

The OT security market is categorized into the following regions: Americas, Europe, Asia Pacific, and Middle East and Africa. During the forecast period, the Asia Pacific region is expected to exhibit the most rapid growth, measured by its Compound Annual Growth Rate (CAGR). This growth can be attributed to the swift adoption of OT solutions in emerging economies in Asia, including India, China, Japan, and other countries. Effective government regulations and advancements in technology drive this adoption. The growth of OT solutions in the region is fueled by several factors, such as a surge in investments in security solutions to protect ICS/SCADA systems against cyber threats and advancements in technologies such as artificial intelligence, machine learning, and advanced analytics. Many organizations in the Asia Pacific region recognize the significance of OT security for safeguarding their business operations and draw lessons from developed countries in the Americas and Europe. These factors collectively contribute to the Asia Pacific region experiencing the highest CAGR growth among all the regions in the OT security market.

Top Key Companies in Cloud Infrastructure Operational Technology (OT) Security Market:

Major vendors in the global Operational Technology (OT) Security Market include Broadcom (US), Cisco (US), Fortinet (US), Forcepoint (US), Forescout (US), Trellix (US), Zscaler (US), Darktrace (UK), CyberArk (US), BeyondTrust (US), Microsoft (US), Kaspersky (Russia), Nozomi Networks (US), Rapid7 (US), Checkpoint (Israel), Okta (US), Palo Alto Networks (US), Qualys (US), Radiflow (US), SentinelOne (US), Sophos (UK), Tenable (US), Thales (France), Tripwire (US), Armis (US), Seckiot (France), Siga OT Solutions (Israel), OPSWAT (US), Claroty (US), Cydome (Israel), Dragos (US), Mission Secure (US), Ordr (US), runZero (US), Scadafence (US) and Sectrio (US).

Recent Development

In May 2023, Forcepoint upgraded the Forcepoint NGFW with advanced vulnerabilities and situation detection technology.
In April 2023, Fortinet launched new solutions such as FortiGate 7080F. It 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 March 2023, Tenable enhanced the Tenable Security Solution with Upgraded management experience for Tenable OT Security sensors, advanced Vulnerability and Threat Detection and Enhanced Dashboards and Reporting system.
In December 2022, Microsoft enhanced the Microsoft Sentinel Solution which provides features such as as MultiCloud SOAR, Enrichment and Threat Intelligence, Incident Management and Remediation and Response.
In November 2022, Okta introduced a series of innovative enhancements to its Workforce Identity Cloud, reinforcing its unified control platform for efficient identity management across all enterprise resources and user profiles.

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Operational Technology (OT) Security Market Advantages:

Protection from cyberthreats and attacks that target industrial systems is strong thanks to OT security solutions. These devices are frequently linked to the internet and exposed to a number of dangers, including malware, ransomware, unauthorised access, and data breaches. Assuring the integrity and availability of crucial operations, OT security solutions assist in recognising and mitigating these threats.
OT systems are essential to the operation of important infrastructure in numerous sectors, including energy, transportation, manufacturing, and utilities. An OT security framework aids in defending against hostile activity, decreasing the possibility of disruptions that could result in significant monetary losses, safety risks, and reputational harm.
For critical infrastructure, the adoption of strong security measures is required by a number of industry laws and standards, including NERC CIP, IEC 62443, and NIST SP 800-82. Organisations can achieve regulatory compliance by investing in OT security solutions, avoiding fines and legal repercussions while showcasing their dedication to cybersecurity.
The maintenance of business continuity and operational resilience depends heavily on OT security solutions. Organisations may reduce downtime, swiftly recover from cyber events, and guarantee the continuity of their crucial activities by identifying vulnerabilities, putting preventive measures into place, and creating incident response plans.
Improved insight into industrial networks and assets is provided by OT security solutions. These technologies provide early identification of potential threats and offer actionable information for preventative security steps by monitoring network traffic, system behaviour, and abnormalities. Organisations can make better decisions and manage risks when they have a thorough awareness of their OT environment thanks to this visibility.
The OT security market is always changing to handle new threats and weaknesses. Organisations may keep on top of the curve and adjust to fresh difficulties brought on by quickly developing cyber threats by investing in OT security solutions. Organisations can effectively reduce the risks brought on by the shifting threat landscape thanks to regular updates, patches, and developments in OT security technologies.

Report Objectives

To define, describe, and forecast the OT Security market based on offering, solutions, services, deployment mode, organization size, vertical, and region.
To provide detailed information about the major factors (drivers, opportunities, restraints, and challenges) influencing the growth of the OT Security market
To forecast the size of the market segments with respect to five main regions: Americas, Europe, Asia Pacific, and Middle East and Africa
To analyze subsegments of the market with respect to individual growth trends, prospects, and contributions to the overall market
To profile the key players of the OT Security market and comprehensively analyze their market size and core competencies.
To profile key players and comprehensively analyze their market rankings and core competencies.
To map the competitive intelligence based on company profiles, key player strategies, and game-changing developments such as product developments, collaborations, and acquisitions.
To track and analyze the competitive developments, such as product enhancements and new product launches; acquisitions; and partnerships and collaborations, in the OT Security market globally.

Browse Adjacent Market: Information Security Market Research Reports & Consulting

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Fraud Detection and Prevention Market – Global Forecast to 2028

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Quantum Cryptography Market – Global Forecast to 2028

Healthcare Cybersecurity Market – Global Forecast to 2028

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Blockchain

Blocks & Headlines: Today in Blockchain – May 7, 2025 | Coinbase, Riot Games, Curve DAO, Litecoin, AR.IO

Published

9 hours ago

May 7, 2025

Peter Tolan

Today’s blockchain and cryptocurrency landscape is as dynamic as ever, with marquee partnerships, industry-wide reckonings, and groundbreaking applications reshaping how we think about digital assets. In this op-ed style daily briefing, we explore five major developments from May 6 – 7, 2025:

Coinbase & Riot Games Forge Esports Alliance
“Too Many Blockchains?” Industry Introspection
Blockchain’s Health-Tech Revolution
Valour Adds Curve DAO & Litecoin ETPs in the Nordics
AR.IO Enables Credit-Card Onramps for Web3 Identity & Hosting

Through concise yet detailed coverage, we analyze each story’s implications for blockchain, cryptocurrency, Web3, DeFi, and NFTs. Welcome to your Blocks & Headlines daily briefing—where opinion meets analysis.

1. Coinbase & Riot Games Forge Esports Alliance

Source: Coinbase Blog
Date: May 6, 2025

In a landmark partnership that bridges digital finance with digital competition, Coinbase has been named the exclusive cryptocurrency exchange and official blockchain technology partner of Riot Games’ global League of Legends and VALORANT esports events. Starting with the VCT Masters tournament in Toronto on June 7, Coinbase will integrate “live Econ Reports” and “Gold Grind” segments into broadcasts, offering running analyses of in-game currency flows, alongside exclusive digital drops like emotes and icons redeemable by viewers.

Opinion: This move is a masterstroke for mainstream crypto adoption. Esports’ digitally native fanbase aligns perfectly with blockchain’s ethos of transparency and community governance. Coinbase’s embrace of in-game analytics not only educates viewers on micro-economies but also paves the way for future on-chain game mechanics—potentially unlocking true digital ownership of skins and items as NFTs. Expect other exchanges to follow suit or risk missing out on Gen Z’s next frontier of fandom.

2. “Too Many Blockchains?” Industry Introspection

Source: Blockworks
Date: May 6, 2025

As venture capital floods yet another dozen Layer-1 protocols each quarter, seasoned observers are questioning sustainability. Donovan Choy of Blockworks highlights that new chains like Camp Network, Unto, and Miden collectively raised north of $70 million in the past week alone—despite Sui’s market-cap spike lacking any commensurate fee revenue. While some attribute this proliferation to speculative greed chasing the elusive L1 premium, others credit genuine technical divergence—differing visions on execution environments, MEV capture, and data-availability layers.

Opinion: The free market appears to be self-correcting: L1 valuations are compressing, and public markets are already signaling fatigue. Yet, technical fragmentation has its merits—competition drives innovation in consensus, sharding, and gas-fee economics. The looming challenge is application-chain misalignment: developers face choice paralysis and liquidity fragmentation. A pivot toward cross-chain composability—and perhaps the rise of federated execution environments—will determine which chains survive the next cycle. Investors should look for interoperability roadmaps rather than mere tokenomics hype.

3. Blockchain’s Health-Tech Revolution

Source: DataHorizzon Research via OpenPR
Date: May 7, 2025

Blockchain in healthcare is projected to surge from a $4.57 billion market in 2023 to $34.7 billion by 2033 (CAGR 22.9%). Key drivers include:

Data Integrity & Security: Immutable ledgers ensure tamper-proof electronic health records, bolstering HIPAA and GDPR compliance.
Interoperability: Permissioned smart contracts automate cross-institutional data access, alleviating EHR fragmentation.
Supply-Chain Traceability: Real-time drug tracking combats counterfeits and streamlines recalls.
Claims Automation: Shared ledgers reduce fraud and billing lags via automated smart-contract adjudication.
Research Collaboration: Timestamped trial data and consent forms create verifiable audit trails.

Leading players—IBM Watson Health, Guardtime, Longenesis, Chronicled, BurstIQ, and more—are moving beyond pilots in Estonia and Merck’s vaccine cold-chain projects toward enterprise-scale rollouts.

Opinion: Healthcare’s conservative nature makes blockchain’s strides here particularly noteworthy. The confluence of AI analytics with secure datasets promises predictive diagnostics powered by immutable provenance. Yet, regulatory uncertainty and integration with legacy EHR platforms remain significant hurdles. The winners will be those who offer turnkey compliance frameworks and hybrid on-chain/off-chain models that respect “right to be forgotten” laws while preserving auditability.

4. Valour Adds Curve DAO & Litecoin ETPs in the Nordics

Source: GlobeNewswire (via GlobeNewswire and CoinCentral)
Date: May 7, 2025

DeFi Technologies’ subsidiary Valour has listed single-asset SEK-denominated ETPs for Curve DAO (CRV) and Litecoin (LTC) on Sweden’s Spotlight Stock Market—bringing its Nordic ETP lineup to over 67 products on the path to 100 by year-end. Upcoming listings include Tron (TRX), Stellar (XLM), and leveraged Bitcoin (BTC 2×) and Ethereum (ETH 2×) products.

Opinion: ETPs bridge traditional capital markets with on-chain assets, offering regulated wrappers for institutional and retail investors. Valour’s Nordic expansion underscores Europe’s leadership in crypto security tokenization. However, as ETP count balloons, product fatigue may set in. Success lies not in sheer quantity but in thematic curation and transparent fee structures—particularly for DeFi-native tokens like CRV, where governance risk and protocol upgrades can materially impact value.

5. AR.IO Enables Credit-Card Onramps for Web3 Identity & Hosting

Source: Chainwire (as published by MENAFN)
Date: May 6, 2025

AR.IO—the world’s first permanent cloud network built on Arweave—has launched “Turbo,” an open-source bundler that lets users purchase Arweave credits via credit card for its ArNS domain‐name and web-hosting service. ArNS domains are immutable smart contracts on Arweave, offering permanent websites and on-chain identities without renewal fees, served by 400+ decentralized gateways.

Opinion: Simplifying fiat → crypto onramps remains a critical barrier for mainstream Web3 adoption. By integrating credit-card payments, AR.IO lowers friction for developers and businesses wanting censorship-resistant hosting. The true long-term play is embedding real-world payment rails into decentralized infrastructure—setting a precedent for other ledger-based services (e.g., Filecoin, IPFS pinning). If AR.IO can combine permanency with user-friendly billing, we may witness a tipping point in Web3’s shift from hobbyist experiments to enterprise solutions.

Conclusion

Today’s slate of headlines spans from consumer-facing esports innovations to deep industry self-reflection, from life-saving healthcare applications to sophisticated investment vehicles, and finally, critical infrastructure enabling mainstream onramps. Across every sector—gaming, finance, healthcare, asset management, and infrastructure—the recurring theme is bridging gaps:

On-chain & off-chain: through fiat onramps and traditional ETP listings
New chains & legacy systems: via interoperability and hybrid architectures
Speculation & real-world utility: with tangible ROI in healthcare and esports

For enthusiasts and professionals alike, the imperative is clear: focus on solutions that marry blockchain’s core benefits—transparency, security, decentralization—with seamless user experiences and regulatory alignment. Only then will we see blockchain and crypto transcend niche fervor to become indispensable pillars of tomorrow’s digital economy.

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Blockchain Press Releases

GRVT Launches Biggest Ever Trading Competition for Retail Traders, Offering Up to 175,000 USDT in Prizes

Published

17 hours ago

May 7, 2025

CISION (PR Newswire)

grvt-launches-biggest-ever-trading-competition-for-retail-traders,-offering-up-to-175,000-usdt-in-prizes

SINGAPORE, May 7, 2025 /PRNewswire/ — GRVT (pronounced “gravity”), the world’s first licensed onchain exchange – is excited to announce its largest trading competition to date, running from May 7 to June 5, 2025. The competition offers retail traders the chance to win a share of up to 175,000 USDT and 85 million Trader Points.

The event is open to all KYC-verified GRVT users and features a volume-based rewards system with nine reward bands and 15 prize levels. Participants will be rewarded based on their total trading volume during the competition period. The total reward pool will expand as the overall trading volume increases.

Early participants can also take advantage of special bonus rewards, and lucky traders will receive exclusive GRVT-branded merchandise.

Hong Yea, co-founder and CEO of GRVT, commented, “This trading competition marks the biggest event for our retail traders since our Mainnet launch at the end of last year. I am incredibly proud of what the team has delivered since Mainnet, and I’m grateful for the enthusiasm and support from our global community. We are committed to continuous improvement and look forward to bringing even more exciting opportunities to our users.”

For full details about the GRVT Trading Competition, including the complete rules and reward structure, please visit: https://help.grvt.io/en/articles/11168184-grvt-trading-rush

Disclaimer: Perpetuals trading of cryptocurrencies is subject to high market risk and price volatility and you may be called upon at short notice to commit further margin deposits or risk being liquidated. This content is not a distribution of, or an offer or solicitation to provide, financial services or products, nor a representation as to their suitability or legality for you. GRVT is not a regulated entity and your funds are not subject to regulatory protection. Before making any decision based on this content, please seek financial and legal advice, and carefully review our Risk Disclosure and Disclaimer in full.

Singapore users: GRVT is not licensed, approved, authorised, designated, recognised, registered or otherwise regulated under any legislation administered by the Monetary Authority of Singapore (“MAS”). As such, users will not have the benefit of any regulatory safeguards imposed by the MAS.

About GRVT

GRVT (pronounced “gravity”) is a blockchain-based platform that is democratizing how wealth is created and shared. It allows everyday people to trade, invest, and grow their wealth by providing direct access to top industry traders and investors. As the world’s first licensed onchaindecentralized exchange, GRVT is where traditional banking meets decentralized innovation on one regulated, compliant, trustless financial market place.

GRVT official website: https://grvt.io/

For media inquiries, contact: [email protected]

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Blockchain Press Releases

Pharos Network Unveils High-Performance Layer 1 Testnet to Unlock RWA Adoption

Published

17 hours ago

May 7, 2025

CISION (PR Newswire)

HONG KONG, May 7, 2025 /PRNewswire/ — Pharos Network, a high-performance blockchain built for real-world assets (RWAs), announced the launch of its Testnet today. Designed for institutional-grade RWAs and enterprise-scale DeFi, Pharos offers a next-generation, modular infrastructure that addresses the key bottlenecks preventing institutions from entering Web3. The platform powers scalable deployment of decentralized applications, enables efficient payment solutions, and unlocks new use cases for tokenized assets.

The Pharos Testnet achieves up to 30,000 transactions per second with one-second finality, setting a new benchmark for Layer 1 blockchain performance. Its GPU-like architecture could support billions of users and reduce storage usage by 80%. The network also features built-in support for decentralized AI and privacy preserving SPN. With ZK-based KYC/AML capabilities, Pharos ensures enterprise-ready security and compliance. It remains fully EVM-compatible, offering faster and cheaper transactions, while enabling flexible, on-chain innovation.

Pharos’s product stack directly addresses the core bottlenecks in RWA adoption—scalability, compliance, and flexibility—unlocking new use cases across sectors such as renewable energy industry finance, payment, supply chain finance, and tokenized real estate. Its modular, high-throughput infrastructure enables secure deployment of RWA at scale, while meeting the regulatory and performance demands of the financial industry.

A growing ecosystem is already emerging on the Pharos Testnet, enabling innovative Defi use cases for RWAs. As an early collaborator of Pharos, OKX Wallet will support Pharos Testnet natively at launch. Early Pharos ecosystem projects include Zenith Swap, ELFi, Buzzing Club, Nextmate.AI, Faroswap, R2, OpenFi, Hemera, Blocksense, Supra, and more.

Founded by former AntChain and Alibaba blockchain leaders, the Pharos team brings deep enterprise experience, uniquely positioning it to deliver enterprise-grade solutions for institutions exploring green finance, payments, and new forms of programmable ownership and asset tokenization.

“The Pharos Testnet represents a significant milestone in our mission to unlock the true potential of RWAs. By providing a high-performance, scalable, and adaptable platform, Pharos meet the needs of bringing real world assets on a chain and bringing utilities to these assets.” said Alex Zhang, CEO of Pharos Network. “We’re excited to watch innovation flourish on Pharos and accelerate the convergence of traditional finance and decentralized technology.

Developers and users can access and experience the Testnet by visiting testnet.pharosnetwork.xyz.

About Pharos

Pharos Network is a revolutionary Layer 1 blockchain platform that sets new benchmarks in decentralized technology with its extreme performance and scalability. Founded by ex-blockchain leaders from Ant Financial and Alibaba, Pharos aims to build the best chain for RWAs and enterprise-grade DeFi, achieving the highest EVM Layer-1 performance with 50K TPS and being the first to reach 2 gigagas/sec. In addition, Pharos is a co-developer of SmartCogent, an AI toolkit for large language models (LLMs), and the core development team of DTVM technology. For more information, please visit https://pharosnetwork.xyz.

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