San Antonio – Apr 6, 2022– Frost & Sullivan’s recent analysis of the global industrial cybersecurity market finds that organizations looking to build an effective operational technology (OT) security posture face a critical shortage of OT security expertise. This creates lucrative growth prospects for OT security vendors. As a result, the global industrial cybersecurity market will likely hit $10.2 billion by 2025 from $3.3 billion in 2020, registering exponential growth at a compound annual growth rate (CAGR) of 25.3%.
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“Industrial cybersecurity is pivoting toward convergence and creating an ecosystem of trust. More companies from different backgrounds will form strategic partnerships to deliver fully integrated and joint solutions,” said Sankara Narayanan Venkataramani, Industrial Automation Industry Analyst at Frost & Sullivan. “In addition, successful OT alert management to reduce high volumes of false positives will be essential amid increasing threats and vulnerabilities.”
Venkataramani added: “Advanced technologies such as artificial intelligence (AI), self-learning AI, and machine learning (ML) will be differentiating factors in detecting advanced and unknown threats, and more companies will embrace AI and ML.”
Security vendors’ move to meet customer needs in the evolving threat landscape presents them with the following opportunities:
• Providing device-based querying or active querying to end customers, so they know what is happening at the network and device levels.
• Using AI and ML to fill gaps in OT security against cyber threats and protect large-scale processes in critical infrastructure and manufacturing organizations.
• Acquiring firms in the OT security space with purpose-built platforms and connections to industrial cybersecurity to elevate a company’s security portfolio.
Increasing Sophistication of Attacks and Evolving Threat Landscape Powering Global Industrial Cybersecurity, Outlook 2022 is the latest addition to Frost & Sullivan’s Industrial Automation research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.
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Increasing Sophistication of Attacks and Evolving Threat Landscape Powering Global Industrial Cybersecurity, Outlook 2022
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