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

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.