Global Operational Technology Market Market Size, Share, Growth, Industry Trends and Forecast 2020-2030

The operational technology market size was valued at USD 37.6 billion in 2020 and is expected to grow at a CAGR of 8.4% between 2020 and 2030. Operational technology is a category of hardware and software that monitors and controls how physical devices perform. An important feature of operational technology is the ability to monitor and control physical devices remotely. Operational Technology has become a common, crucial element of critical infrastructure systems since it is widely used in power plants, refineries, nuclear plants, etc. Earlier was only used in industrial control systems for manufacturing, transportation and utilities and also the technologies had networking limitation. The conventional operational technology which was only used in industrial control systems is now being replaced by operational technology with the technological advancements in communication and networking resulting to emerge the trend for smart operational technologies. This has provided administrators to perform their tasks remotely within the network and getting work done in the real time.
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Market Dynamics and Factors:
Growing industrialization and increasing demand for smart automation solutions are driving the growth of the global operational technology market. Moreover, evolution of the Industrial Internet of Things (IIoT) is further supplementing the market growth. Furthermore, with the increasing cyber-attacks on operational technology, a new global alliance ‘Operational Technology Cyber Security Alliance (OTCSA)’ has formed with the purpose of protecting operational technology used in critical and industrial infrastructure from cyber-threats. This will further give ample opportunities for the operational technology market growth. However, lack of efficient government initiatives and disruptions in supply chain are expected to hamper the growth of operational technology market to some extent.
Market Segmentation:
Global Operational Technology Market – By Component
Field devices
Control systems
Services
Global Operational Technology Market – By Networking Technology
Wired Technology
Wireless Technology
Global Operational Technology Market – By End-User
Process Industry
Non-Process Industry
Global Operational Technology Market – By Region
North America
U.S.
Canada
Mexico
Europe
U.K.
France
Germany
Italy
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia Pacific
ROW
Latin America
Middle East
Africa
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Geographic Analysis:
North America accounts for highest market share in terms of revenue in the global operational technology market owing to the adoption of smart automation technologies and a significant number of established operational technology players present in the region. Moreover, the players in North America are emphasizing on modernizing their facilities with advanced technologies which is further boosting the market growth. Europe is the second largest region in the global operational technology market in terms of market size.
Competitive Scenario:
Some of the major players of global operational technology market are Siemens AG, General Electric, Rockwell Automation, Inc., John Wood Group PLC, IBM Corporation, Hewlett Packard Enterprise Development LP, Accenture plc, Oracle Corporation, Schneider Electric SE, ABB Group, Huawei Technologies Co., Ltd. and Tesla, Inc.
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How will this Market Intelligence Report Benefit You?
The report offers statistical data in terms of value (US$) as well as Volume (units) till 2030.
Exclusive insight into the key trends affecting the Global Operational Technology Market industry, although key threats, opportunities and disruptive technologies that could shape the Global Operational Technology Market Market supply and demand.
The report tracks the leading market players that will shape and impact the Global Operational Technology Market Market most.
The data analysis present in the Global Operational Technology Market Market report is based on the combination of both primary and secondary resources.
The report helps you to understand the real effects of key market drivers or retainers on Global Operational Technology Market Market business.
The 2021 Annual Global Operational Technology Market Market offers:
100+ charts exploring and analysing the Global Operational Technology Market Market from critical angles including retail forecasts, consumer demand, production and more
15+ profiles of top producing states, with highlights of market conditions and retail trends
Regulatory outlook, best practices, and future considerations for manufacturers and industry players seeking to meet consumer demand
Benchmark wholesale prices, market position, plus prices for raw materials involved in Global Operational Technology Market Market type
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