Operational Technology Market to Perceive Remarkable Growth of 36080.59 million by 2029, Size, Share, Trends, Demand, Opportunities and Segmentation Analysis
The increase in demand for operational technology among utility companies acts as one of the major factors driving the growth of operational technology market. These are being deployed due to their benefits such as cost-saving, environmental protection and safety improvement.
HOUSTON, Nov. 21, 2022 (GLOBE NEWSWIRE) — Data Bridge Market research has a newly released expansive study titled “Operational Technology Market” which guarantees you will remain better informed than your competition. This study provides a broader perspective of the marketplace with its comprehensive market insights and analysis which eases survival and success in the market. Due to high demand and the value of market research for the success of different sectors, the Operational Technology market report has been prepared by covering many work areas. This Operational Technology market report lets you know how the market is going to perform in the forecast years by giving you information about market definitions, classifications, applications, and engagements. Operational Technology is a professional and complete report focusing on primary and secondary drivers, market share, competitor analysis, leading segments, and geographical analysis. Objectivity has been kept at the center while obtaining the best result via this Operational Technology market report for the Operational Technology industry.
The Operational Technology Market was valued at USD 21315.90 million in 2021 and is expected to reach USD 36080.59 million by 2029, registering a CAGR of 6.80% during the forecast period of 2022-2029. Oil and Gas account for the largest end-user segment in the respective market owing to the high use for leak detection, process safety, and process improvements. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Operational Technology Market Overview:
Operational technology systems are hardware and software that detect the cause of change through direct monitoring using a physical device. Operational Technology (OT) uses various technologies such as Supervisory Control and Data Acquisition (SCADA), Distributed Control Systems (DCS), Process Control Domains (PCD), and Programmable Logic Controllers (PLC) to perform its applications. It is popularly used in industrial control systems, which can be deployed anywhere including power stations paper industries, and others. In recent times, merging or convergence of operational technology with Information Technology (IT) systems has led to development of Industrial Internet of Things (IIOT).
Operational technology has become a crucial component of every digital product, including medical devices, wearables, and smart devices, among others. Various industries are relying heavily on OT such as the automotive and transportation, building and infrastructure, energy and utilities, food and beverage, oil and gas, among others.
This operational technology market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on operational technology market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Some of the major players operating in the operational technology market:
- Fortinet, Inc. (US)
- Gray Matter Systems LLC (US)
- Forcepoint (US)
- IBM Corporation (US)
- ABB (Sweden)
- General Electric (US)
- Schneider Electric (France)
- Rockwell Automation, Inc. (US)
- Emerson Electric Co. (US)
- Advantech Co., Ltd. (Taiwan)
- Honeywell International Inc. (US)
- Huawei Technologies Co., Ltd. (China)
- Oracle (US)
- Wipro Limited (India)
- SCADAfence (Ireland)
- SAP SE (Germany)
- Cisco Systems (US)
- Accenture (Ireland)
- Wunderlich-Malec Engineering, Inc. (US)
- Yokogawa Electric Corporation (Japan)
Recent Developments
- In December 2019, SCADAfence partnered with Fortinet for developing a solution for Operational Technology (OT) security. This solution set the benchmark for the future developments and helped the company gain trust and reliability among customers.
- In October 2019, ABB entered into a partnership with Operational Technology Cyber Security Alliance (OTCSA). This partnership focused on security for operational technology in critical infrastructures and Industrial Control Systems (ICS). This solution will deal with the cybersecurity issues in systems and solutions for infrastructure and industry. Both the companies will mutually benefit, which will help them expand their market.
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Operational Technology Market Drivers:
- Use in Utility Companies
The increase in demand for operational technology among utility companies acts as one of the major factors driving the growth of operational technology market. These are being deployed due to their benefits such as cost-saving, environmental protection and safety improvement.
- Technological Advancements
The increase in the use of operational technology due to continuous technological advancements along with lower power consumption accelerate the market growth. The surge in the popularity of the technology owing to its characteristics such as added convenience, increased productivity and better reliability and quality has a positive impact on the market.
- Industry 4.0
The rise in the emergence of industry 4.0 across both manufacturing and process industries accelerate the market growth. These services are deployed as a part of their digitalization initiatives. Several governments are incorporating operational technology (OT).
Additionally, rapid urbanization, change in lifestyle, surge in investments and increased consumer spending positively impact the operational technology market.
Opportunities:
Furthermore, surge in the adoption of emerging technologies such as IIoT and cloud computing in industrial environments extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Also, increased demand for safety compliance automation solutions will further expand the market.
The objective of Study:
- To provide a detailed analysis of the market structure along with a forecast of the various segments and sub-segments of the Operational Technology market
- To provide insights about factors affecting the market growth. To analyze the Operational Technology market based on various factors-price analysis, supply chain analysis, Porte five force analysis etc.
- To provide historically and forecast revenue of the market segments and sub-segments with respect to four main geographies and their Countries-North America, Europe, Asia, Latin America and Rest of the World.
- To provide country-level analysis of the market with respect to the current market size and future prospective.
- To provide country-level analysis of the market for segment by Component, Deployment and sub-segments.
- To provide strategic profiling of key players in the market, comprehensively analyzing their core competencies, and drawing a competitive landscape for the market.
- To track and analyze competitive developments such as joint ventures, strategic alliances, mergers and acquisitions, new product developments, and research and developments in the Operational Technology market.
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Operational Technology Market Segmentations:
By Component:
- Hardware
- Software/Platform
- Services
By Deployment:
- On Premise
- Hybrid
- Cloud
By Organization Size:
- Small and Medium Business
- Large Enterprises
By Connectivity:
- Wired
- Wireless
By Technology:
- Supervisory Control and Data Acquisition (SCADA)
- Distributed Control Systems (DCS)
- Process Control Domains (PCD)
- Safety Instrumented Systems (SIS)
- Building Management/Automation Systems (BAS)
By End-User:
- Automotive and Transportation
- Building and Infrastructure
- Energy and Utilities
- Food and Beverage
- Life Sciences
- Marine and Ports
- Metals and Mining
- Oil and Gas
- Chemicals
- Pulp and Paper
Operational Technology Market Regional Analysis/Insights:
The countries covered in the operational technology market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points such as down-stream and upstream value chain analysis, technical trends and porter’s five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Operational Technology Market Report Answers the Following Questions:
- What will the market growth rate, growth momentum or acceleration market carry during the forecast period?
- Which are the key factors driving Operational Technology?
- Which region is expected to hold the highest market share in Operational Technology?
- What trends, challenges and barriers will impact the development and sizing of Global Operational Technology?
- What is sales volume, revenue, and price analysis of top manufacturers of Operational Technology?
- What are the Operational Technology opportunities and threats faced by the vendors in the Operational Technology Industry?
Table of Content: Global Operational Technology Market
- Introduction
- Market Segmentation
- Executive Summary
- Premium Insights
- Market Overview
- Global Operational Technology Market, By Component
- Global Operational Technology Market, By Deployment
- Global Operational Technology Market, By Organization Size
- Global Operational Technology Market, By Connectivity
- Global Operational Technology Market, By Technology
- Global Operational Technology Market, By End-User
- Global Operational Technology Market, By Region
- Global Operational Technology Market: Company Landscape
- SWOT Analyses
- Company Profile
- Questionnaires
- Related Reports
To Get the Full Table of Contents, Visit @ http://www.databridgemarketresearch.com/toc/?dbmr=global-operational-technology-market
Browse Related Reports:
- Europe Operational Technology Market, By Component (Hardware, Software/Platform, Services), Deployment (On Premise, Hybrid, Cloud), Organization Size (Small & Medium Business, Large Enterprises), Connectivity (wired, Wireless), Technology (Supervisory Control and Data Acquisition (SCADA), Distributed Control Systems (DCS), Process Control Domains (PCD), Programmable Logic Controllers (PLC), Safety Instrumented Systems (SIS), Building Management/Automation Systems (BAS)), End-user (Automotive and Transportation, Building and Infrastructure, Energy and Utilities, Food and Beverage, Life Sciences, Marine and Ports, Metals and Mining, Oil & Gas, Chemicals, Pulp and Paper, Others) – Trends and Forecast to 2028: http://www.databridgemarketresearch.com/reports/europe-operational-technology-market
- North America Operational Technology Market, By Component (Hardware, Software/Platform, Services), Deployment (On Premise, Hybrid, Cloud), Organization Size (Small & Medium Business, Large Enterprises), Connectivity (wired, Wireless), Technology (Supervisory Control and Data Acquisition (SCADA), Distributed Control Systems (DCS), Process Control Domains (PCD), Programmable Logic Controllers (PLC), Safety Instrumented Systems (SIS), Building Management/Automation Systems (BAS)), End-user (Automotive and Transportation, Building and Infrastructure, Energy and Utilities, Food and Beverage, Life Sciences, Marine and Ports, Metals and Mining, Oil & Gas, Chemicals, Pulp and Paper, Others) – Industry Trends and Forecast to 2028: http://www.databridgemarketresearch.com/reports/north-america-operational-technology-market
- Asia-Pacific Operational Technology Market, By Component (Hardware, Software/Platform, Services), Deployment (On Premise, Hybrid, Cloud), Organization Size (Small & Medium Business, Large Enterprises), Connectivity (wired, Wireless), Technology (Supervisory Control and Data Acquisition (SCADA), Distributed Control Systems (DCS), Process Control Domains (PCD), Programmable Logic Controllers (PLC), Safety Instrumented Systems (SIS), Building Management/Automation Systems (BAS)), End-user (Automotive and Transportation, Building and Infrastructure, Energy and Utilities, Food and Beverage, Life Sciences, Marine and Ports, Metals and Mining, Oil & Gas, Chemicals, Pulp and Paper, Others) – Trends and Forecast to 2028: http://www.databridgemarketresearch.com/reports/asia-pacific-operational-technology-market
- Middle East and Africa Operational Technology Market, By Component (Hardware, Software/Platform, Services), Deployment (On Premise, Hybrid, Cloud), Organization Size (Small & Medium Business, Large Enterprises), Connectivity (wired, Wireless), Technology (Supervisory Control and Data Acquisition (SCADA), Distributed Control Systems (DCS), Process Control Domains (PCD), Programmable Logic Controllers (PLC), Safety Instrumented Systems (SIS), Building Management/Automation Systems (BAS)), End-user (Automotive and Transportation, Building and Infrastructure, Energy and Utilities, Food and Beverage, Life Sciences, Marine and Ports, Metals and Mining, Oil & Gas, Chemicals, Pulp and Paper, Others) – Trends, and Forecast to 2028: http://www.databridgemarketresearch.com/reports/middle-east-and-africa-operational-technology-market
- Operational Technology Network Segmentation Market, By End-Use Industry (Power & Electrical, Manufacturing, Transportation, Mining, Others), Deployment (On-Premise, Cloud), Component (Solution, Services), Vertical (Government and Defense, BFSI, IT and Telecom, Healthcare, Retail, Manufacturing, Energy & Utilities, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) http://www.databridgemarketresearch.com/reports/global-operational-technology-network-segmentation-market
- Operational Technology Endpoint Security Market, By Deployment (On-Premise, Hybrid and Cloud), End-User (Commercial, Consumer), Enterprise Size (Large Enterprises, Small & Medium Enterprises), Industry (BFSI, Telecom & IT, Retail, Healthcare, Government and Public Sector, Education, Transportation), Solution (Endpoint Protection Platform, Endpoint Detection and Response), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa) http://www.databridgemarketresearch.com/reports/global-operational-technology-endpoint-security-market
- Cryptocurrency Mining Market, By Mining Enterprise (Large Miners and Small Miners), Revenue Source (Transaction Fees and Block Rewards), Mining Type (Self-Mining, Cloud Mining Services, Remote Hosting Services), Hardware (ASIC, GPU, CPU, and Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Saudi Arabia, U.A.E, Egypt, Israel, South Africa, Rest of Middle East and Africa) http://www.databridgemarketresearch.com/reports/global-cryptocurrency-mining-market
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