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Information Technology/Operational Technology (IT/OT) Security Convergence in the Smart Building Technology Market, Forecast to 2022

  • Report

  • 117 Pages
  • July 2019
  • Region: Global
  • Frost & Sullivan
  • ID: 4828808

Digitalization and Cyberattacks driving adoption of IT/OT Security in Smart Buildings

Automation, IoT, and digitalization are rapidly changing, and enterprise operations and building operations have not made an exception either. Today, smart devices control building management activities including temperature control, access control, lighting control, communication, and safety systems in many enterprises. At the same time, such converged Information Technology/Operational Technology (IT/OT) environment has made enterprises more vulnerable to cyberattacks.

With diverse protocols, hardware, and software systems, the OT devices controlling building operations provide a heterogeneous environment. Coupled with IT devices and a common network connection, the attack surface expands, providing a thriving ground for cyber adversaries to play on.

This study explores the impact of such IT/OT convergence in smart buildings on the cyber posture of an enterprise. The study provides detailed insights on key market trends, risk posture, market dynamics, and vendor dynamics in this market.

Research Scope

Geographical Analysis:

  • Europe, the Middle East, and Africa
  • Asia-Pacific
  • North America and Latin America
  • The base year for the study is 2018 and the forecast period is from 2019 to 2022.

Insights included:

  • Market Dynamics
  • Market Trends
  • IT/OT Security Risk Matrix Across Verticals and Regions
  • Competitor Analysis and Key Vendor Profiles
  • Insights for CISOs
  • Growth Opportunities

Research Highlights

The IT/OT security market for smart buildings is in its early growth stage, contributing to a small percentage of Industrial Cybersecurity Systems (ICS) security vendors. The growing frequency of cyberattacks exploiting gaps in building OT devices is driving a remarkable increase in the adoption of IT/OT security among enterprises. However, the security budget constraint continues to be a significant challenge for growth. Verticals such as healthcare, hospitality, finance, and data centers promise high growth opportunities for vendors in this market owing to the high cost of the impact of cyberattacks in these verticals. Technological capabilities, scalability, and interoperability are key factors of differentiation among vendors operating in the IT/OT security market.

Table of Contents

Executive Summary
  • Key Findings
  • Market State-360 Degree Snapshot

Research Scope and Segmentation
  • Research Scope
  • Key Questions this Study will Answer
  • Market Definitions
  • Geographical Segmentation

Market Overview
  • Internet of Things (IoT) Penetration
  • IoT Penetration by Region
  • Smart Building Control Devices-Commercial
  • IT/OT Convergence
  • IT/OT Convergence-Merits Versus Risks
  • Notable IT/OT Cyberattacks
  • IT/OT Convergence-Cyber Risks in Smart Buildings
  • BAS
  • BAS-Security Vulnerabilities
  • IT/OT Security-Entry Points

Market Dynamics
  • IT/OT Security Ecosystem-Types of Stakeholders
  • Distribution Channels
  • Distribution Channels-Discussion
  • Business Models
  • Regulations and Standards

Market Trends
  • Market Impact of Growth Trends
  • Digitization of Building Operations
  • IT/OT Cybersecurity Spend
  • IT/OT Security Implementation Challenges
  • Technology (Mis)Alignment

Total IT/OT Security Market Forecasts
  • Forecast Assumptions
  • Risks to Market Forecasts
  • Revenue Forecast
  • Revenue Forecast Discussion
  • Percent Revenue Forecast by Business Size
  • Percent Revenue Forecast Discussion by Business Size
  • Percent Revenue Forecast by Region
  • Revenue Forecast by Region
  • Revenue Forecast Discussion by Region
  • Percent Revenue Forecast by Verticals
  • Revenue Forecast by Verticals
  • Revenue Forecast Discussion by Verticals

IT/OT Security Risk Matrix
  • IT/OT Security Risk Matrix by Verticals
  • IT/OT Security Risk Matrix Discussion by Verticals
  • IT/OT Security Risk Matrix by Country/Region
  • IT/OT Security Risk Matrix Discussion by Country/Region

Competitive Analysis
  • Competitive Environment
  • Key Competitor Profile-Aperio Systems (Aperio)
  • Key Competitor Profile-Bayshore Networks (Bayshore)
  • Key Competitor Profile-Check Point Software Technologies (Check Point)
  • Key Competitor Profile-Claroty
  • Key Competitor Profile-Cyberbit
  • Key Competitor Profile-Forescout Technologies (Forescout)
  • Key Competitor Profile-Fortinet
  • Key Competitor Profile-Indegy
  • Key Competitor Profile-Iotium
  • Key Competitor Profile-Radiflow
  • Key Competitor Profile-Siemens Smart Infrastructure
  • Key Competitor Profile-T-Systems Telekom Security (T-Systems)

Insights for CISOs
  • Implementation Steps
  • Step 1-Asset Inventory
  • Step 2-Vulnerability, Risk, and Impact Assessment
  • Step 3-Stakeholder Responsibility
  • Step 4-Vendor Selection
  • Step 5-Continued Audit and Improvement
  • Cyber Resilience Model
  • Common Mistakes to Avoid

Growth Opportunities
  • Growth Opportunity 1-Deep Learning and AI
  • Growth Opportunity 2-Partnerships
  • Growth Opportunity 3-Vertical Focus
  • Growth Opportunity 4-Threat Protection
  • Strategic Imperatives for Success and Growth

The Last Word
  • Legal Disclaimer

  • Partial List of Companies Interviewed
  • Learn More-Next Steps
  • List of Exhibits

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Aperio Systems
  • Bayshore Networks
  • Black Point
  • Check Point Software Technologies
  • Claroty
  • Cyber
  • Cyberbit
  • CyberX
  • Cylance
  • Forescout Technologies
  • Fortinet
  • Indegy
  • IoTium
  • Nozomi Checkpoint
  • Radiflow
  • Siemens Smart Infrastructure
  • T-Systems Telekom Security