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

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 |
2022 |
Forecast period |
2023–2028 |
Forecast units |
Value (USD) |
Segments covered |
Offering, deployment mode, organization size, vertical, and region |
Geographies covered |
Americas, Europe, Asia Pacific, and Middle East and Africa |
Major companies covered |
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.
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Blockchain Press Releases
Bybit Unveils Its Web3 Vision: Pioneering Simplicity, Openness, and Equality in the Decentralized Ecosystem

DUBAI, UAE, Dec. 8, 2023 /PRNewswire/ — Bybit, the world’s third-largest crypto exchange by volume, today unveiled its forward-thinking Web3 vision on its 5th anniversary, aimed at creating a decentralized ecosystem that is Simpler, Open, and Equal for all.
“Our Web3 vision is an extension of our promise to be the Crypto Ark, safeguarding user assets and seamlessly integrating them into the world of crypto. We want to help bridge more users from Web2 into Web3, by building a decentralized ecosystem that’s simpler, open and equal for all,” said Ben Zhou, Co-founder and CEO of Bybit.
Bybit’s Web3 Mission and Values: Openness Redefined
At the core of Bybit’s Web3 vision lies a commitment to openness. Bybit aims to be open to all builders, creators, and partners in the blockchain space. This translates into a commitment to collaboration, exploration and innovation with our community and partners to build an environment where blockchain technology empowers everyone equally.
Bybit’s goal is to connect and open up currently segregated walled systems into an unified experience that connects users seamlessly across various Web3 ecosystems, platforms and services.
Unlocking the Promise of Web3
Bybit’s strategic approach to achieving its Web3 vision is multifaceted, encompassing infrastructure, application, ecosystem and user engagement initiatives:
- Opening Up and Simplifying Access to Web3
- Bybit Web3 will introduce multi-wallet integration, seamlessly blending ease with advanced technology, empowering users to manage both custodial wallet and MPC wallets for various uses.
- Users can easily access dApps, NFT marketplaces, and the entire spectrum of Web3 features and services directly from the Bybit Wallet. This streamlined approach allows users to conveniently manage their DeFi portfolios, encompassing buying, selling, trading, swapping, and staking DeFi assets, all within a few clicks on a single platform.
- Deepening Ecosystem Partnerships, Equalising Access to Opportunities
- Building upon a successful 2023 marked by empowering partners to embrace the Web3 space, such as the Oracle Red Bull Racing Velocity series, Bybit will continue to upgrade its Web3 infrastructure, foster more partnerships with prominent blockchain ecosystems and projects, including the launch of its revamped NFT marketplace.
- Users can expect a more diverse and dynamic marketplace, a broader range of curated digital assets, and increased liquidity, all of which will facilitate easier participation in the opportunities within the DeFi and NFT space.
- Brands and businesses seeking to transition into or harness the Web3 space can look forward to enhanced support, such as tailored programmes and collaborative initiatives, empowering them to harness opportunities presented by the evolving decentralized landscape.
- Bringing Simplicity, Enjoyment, and Rewards to Web3
- Bybit is dedicated to injecting fun and rewards into the open exploration of Web3 for all users and partners, cultivating a more inclusive and participatory experience in the decentralized realm.
- The community can anticipate more support, incentives and initiatives empowering them to develop their research, analysis, and investment skills, as well as to build and expand the Crypto Ark and Bybit Web3 ecosystem together.
“In a world where division prevails, we aim to build an ecosystem that breaks down barriers and enables equal opportunities for everyone,” adds Ben.
“This unwavering commitment aligns with Bybit’s broader vision to democratize access to the transformative power of Web3, ensuring that its benefits extend far beyond the realms of technology and finance.”
#Bybit #TheCryptoArk #BybitWeb3
About Bybit
Bybit is a top-three cryptocurrency exchange by volume with 20 million users established in 2018. It offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information please visit: https://www.bybit.com
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Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X (Twitter) | Youtube
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Blockchain Press Releases
Innovative Crypto-Native Money: Bybit to Integrate Ethena’s USDe Stablecoin

DUBAI, UAE, Dec. 7, 2023 /PRNewswire/ — Bybit, the world’s third-largest crypto exchange by volume, is proud to announce the partnership of its institutional team with Ethena Labs, heralding the integration of the new USDe stablecoin on its platform.
Ethena’s synthetic dollar protocol, USDe, offers a groundbreaking solution for decentralized money, independent of traditional banking infrastructure. It provides a censorship-resistant, scalable, and stable solution. By delta-hedging staked Ether (ETH) collateral on Bybit, USDe ensures full collateral backing without sacrificing ETH yield.
Bybit will play a crucial role in Ethena’s strategy, handling a significant portion of the initial hedging flow for USDe. This partnership represents a strategic step towards creating a crypto-native solution to digital money.
The introduction of USDe on Bybit also provides the opportunity for users to diversify their stablecoin holdings into a crypto-native product. This offers an uncorrelated risk profile compared to the centralized stablecoins currently dominating exchanges.
Ethena keeps its assets with qualified custodians demonstrating Bybit’s commitment to providing trading infrastructure that meets the demands of large institutional players. Indeed, Ethena’s approach to separate custody and execution, similar to traditional markets, and its commitment to using off-exchange custodians for accessing centralized liquidity, positions it as a transformative force in the industry.
“Our collaboration with Ethena Labs represents our commitment to solving some of the biggest challenges in crypto today, not least, the creation of a decentralized stablecoin,” said Ben Zhou, co-founder and CEO of Bybit. “The integration of USDe on Bybit expands our stablecoin offerings, providing our users with an array of uncorrelated solutions accessible from our Unified Trading Account.”
#Bybit / #TheCryptoArk
About Bybit
Bybit is a top-three cryptocurrency exchange by volume with 20 million users established in 2018. It offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
For more details about Bybit, please visit Bybit Press.
For media inquiries, please contact: [email protected]
For more information, please visit: https://www.bybit.com
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X (Twitter) | Youtube

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Blockchain Press Releases
US blockchain company, Constellation Network, Welcomes Leading Experts from Top Enterprises and U.S. Government Agencies to their Enterprise Advisory Board.

SAN FRANCISCO, Dec. 6, 2023 /PRNewswire/ — Constellation Network, a trailblazing US blockchain enterprise, proudly unveils its Enterprise Advisory Board, marking a significant stride in expanding its influence across commercial, enterprise, and federal sectors. This board, comprising distinguished leaders from diverse backgrounds, underscores Constellation’s commitment to innovation and security, notably as the first blockchain to develop secure communications for the US Department of Defense.
The board members, selected for their expertise and visionary leadership, include:
Erik Bethel, a global finance expert with significant public and private sector experience, including a pivotal role at the World Bank. His insights into blockchain and AI technologies are invaluable for advancing Constellation’s strategic objectives.
Michael Sandoval, a former Microsoft executive and current CEO of AI Research Corporation, brings a wealth of experience in AI, cybersecurity, and technological architecture, enhancing Constellation’s approach to secure communications and blockchain technology.
Alan Boehme, with over 25 years in global corporations, including H&M and Coca-Cola, offers a deep understanding of emerging technologies. His expertise will be pivotal in guiding Constellation’s technological innovations and applications across industries.
Art Seabolt, a technology specialist with four decades of experience, including senior executive roles, contributes his knowledge in large-scale data management and technology innovation, crucial for Constellation’s big data and blockchain initiatives.
Ken Spedden, recognized by the White House Office of Science and Technology Policy for his technological innovations, brings a unique perspective on applying technology to complex societal and security challenges. His experience in inter-agency collaboration and technology application bolsters Constellation’s mission in leveraging blockchain for wide-ranging societal and national security needs.
The formation of this board is a testament to Constellation Network’s dedication to harnessing Web3 technology for addressing global and industry-specific challenges. This initiative is a key component of Constellation’s strategy to pioneer blockchain applications that are secure, scalable, and transformative.
For more details about these advisors and their contribution to Constellation Network’s vision, visit https://constellationnetwork.io/team.
About Constellation Network, Inc.
Constellation Network is a dynamic force in blockchain, offering an open-source framework for business development. The assembly of this board is a decisive move in solidifying Constellation’s position as a leader in blockchain.
Twitter: @conste11ation
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