Market Overview:
The global operational technology market is expected to grow at a CAGR of 6.5% during the forecast period 2018-2030. The market growth can be attributed to the increasing demand for industrial automation and rising adoption of IIoT across various industries. The global operational technology market by type is segmented into field devices, control system, and services. Field devices are further classified into sensors, actuators, and controllers. Control system is further classified into programmable logic controller (PLC), distributed control systems (DCS), supervisory control and data acquisition (SCADA), safety instrumented systems (SIS), human machine interface (HMI) and others. Services are further classified into managed services, professional services, training & education services, and support & maintenance services. The field devices segment held the largest share in the global operational technology market in 2016 owing to the increasing demand for industrial automation across various industries worldwide.
Product Definition:
Operational technology (OT) is a term used in industrial and commercial settings to refer to the systems and equipment that are used to manage or operate a business. OT encompasses all of the hardware, software, networks, and processes that are used in factories, office buildings, hospitals, transportation systems, and other businesses.
Global Operational Technology Market Size Growth Rate by Component: 2016 VS 2021 VS 2027:
Global OTT market is expected to grow at a CAGR of XX% from 2016 to 2021. The growth can be attributed to the increasing adoption of cloud-based solutions and services by enterprises for storing data, applications, and media content. Additionally, growing demand for Over The Top (OTT) platforms among consumers has resulted in increased investments by service providers in technological advancements such as improved user interface and quality of experience (QoE).
Field Devices:
The global field devices and it's usage in OT market size was valued at USD 6.5 billion in 2016. It is expected to expand at a CAGR of XX% over the forecast period. The growth can be attributed to increasing adoption of smart field devices for remote sensing, monitoring, and automation purposes across various industries such as oil & gas, agriculture, mining & minerals among others.
Application Insights:
The food and beverage segment dominated the global operational technology market in terms of revenue share in 2016. The chemical segment is anticipated to witness the highest growth over the forecast period. This can be attributed to increasing demand for chemicals, which are used in a variety of end-use industries such as pharmaceuticals, paints and coatings, adhesives and sealants, printing ink ingredients among others.
Chemical manufacturing companies are increasingly deploying OTT solutions due to various benefits it offers including real-time data from plants¢â‚¬â„¢ sensors & equipment; advanced analytics; predictive maintenance with plant floor robots; remote monitoring with video management systems that enable managers to have full control over their operations from anywhere in the world through an internet browser or mobile app.
Regional Analysis:
The North America regional market accounted for the largest revenue share in 2017. The region is expected to maintain its dominance over the forecast period owing to early adoption of OT and increasing demand from end-use industries such as oil & gas, automotive, aerospace & defense, and others. Moreover, presence of key players in this region is also likely to contribute toward market growth.
Asia Pacific regional market is anticipated to witness significant growth over the forecast period owing to rising demand from end-use industries such as chemical and oil & gas which are located across emerging economies including China and India. In addition, growing investments by various government organizations for developing operational technology solutions are also contributing toward industry growth across APAC region. For instance.
Growth Factors:
- Increasing demand for Operational Technology from process industries to improve their production efficiency and quality.
- Proliferation of IIoT and big data, which is resulting in increased adoption of Operational Technology solutions for data-driven decision making.
- Emergence of new technologies such as cloud, mobility, and analytics that are helping organizations optimize their operations with better insights and real-time intelligence.
- Growing need for safety, security, and compliance in industrial environments due to increasing cyber threats and regulations mandating operational transparency across industries 5 Increased focus on sustainability by process industries to reduce environmental impact has led to increased adoption of Operational Technology solutions that help optimize energy usage
Scope Of The Report
Report Attributes
Report Details
Report Title
Operational Technology Market Research Report
By Type
Global Operational Technology Market Size Growth Rate by Component: 2016 VS 2021 VS 2027, Field Devices, Control System, Services
By Application
Food & Beverage, Chemical, Oil & Gas, Automotive, Aerospace & Defense, Medical, Others
By Companies
ABB, Siemens, Honeywell, General Electric, Schneider Electric, Rockwell Automation, Yokogawa Electric, Emerson Electric, Advantech, Fanuc, Nextnine, Scadafence, Wood Group Mustang, Wunderlich-Malec Engineering, Tesco Controls, SAP, IBM, Cisco Systems, Oracle, Huawei Technologies, Hewlett-Packard Enterprise, NEC Corporation, Cognizant, Accenture, Wipro
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
188
Number of Tables & Figures
132
Customization Available
Yes, the report can be customized as per your need.
Global Operational Technology Market Report Segments:
The global Operational Technology market is segmented on the basis of:
Types
Global Operational Technology Market Size Growth Rate by Component: 2016 VS 2021 VS 2027, Field Devices, Control System, Services
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Food & Beverage, Chemical, Oil & Gas, Automotive, Aerospace & Defense, Medical, Others
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- ABB
- Siemens
- Honeywell
- General Electric
- Schneider Electric
- Rockwell Automation
- Yokogawa Electric
- Emerson Electric
- Advantech
- Fanuc
- Nextnine
- Scadafence
- Wood Group Mustang
- Wunderlich-Malec Engineering
- Tesco Controls
- SAP
- IBM
- Cisco Systems
- Oracle
- Huawei Technologies
- Hewlett-Packard Enterprise
- NEC Corporation
- Cognizant
- Accenture
- Wipro
Highlights of The Operational Technology Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Global Operational Technology Market Size Growth Rate by Component: 2016 VS 2021 VS 2027
- Field Devices
- Control System
- Services
- By Application:
- Food & Beverage
- Chemical
- Oil & Gas
- Automotive
- Aerospace & Defense
- Medical
- Others
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Operational Technology Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Operational technology is the application of technology in order to improve business efficiency and effectiveness. It encompasses a wide range of disciplines, including information systems, engineering, and management. Operational technology can help organizations streamline operations by automating processes and improving communication between employees.
Some of the major companies in the operational technology market are ABB, Siemens, Honeywell, General Electric, Schneider Electric, Rockwell Automation, Yokogawa Electric, Emerson Electric, Advantech, Fanuc, Nextnine, Scadafence, Wood Group Mustang, Wunderlich-Malec Engineering, Tesco Controls, SAP, IBM, Cisco Systems, Oracle, Huawei Technologies, Hewlett-Packard Enterprise, NEC Corporation, Cognizant, Accenture, Wipro.
The operational technology market is expected to grow at a compound annual growth rate of 6.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Operational Technology Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Operational Technology Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Operational Technology Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Operational Technology Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Operational Technology Market Size & Forecast, 2018-2028
4.5.1 Operational Technology Market Size and Y-o-Y Growth
4.5.2 Operational Technology Market Absolute $ Opportunity
Chapter 5 Global Operational Technology Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Operational Technology Market Size Forecast by Type
5.2.1 Global Operational Technology Market Size Growth Rate by Component: 2016 VS 2021 VS 2027
5.2.2 Field Devices
5.2.3 Control System
5.2.4 Services
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Operational Technology Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Operational Technology Market Size Forecast by Applications
6.2.1 Food & Beverage
6.2.2 Chemical
6.2.3 Oil & Gas
6.2.4 Automotive
6.2.5 Aerospace & Defense
6.2.6 Medical
6.2.7 Others
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Operational Technology Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Operational Technology Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Operational Technology Analysis and Forecast
9.1 Introduction
9.2 North America Operational Technology Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Operational Technology Market Size Forecast by Type
9.6.1 Global Operational Technology Market Size Growth Rate by Component: 2016 VS 2021 VS 2027
9.6.2 Field Devices
9.6.3 Control System
9.6.4 Services
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Operational Technology Market Size Forecast by Applications
9.10.1 Food & Beverage
9.10.2 Chemical
9.10.3 Oil & Gas
9.10.4 Automotive
9.10.5 Aerospace & Defense
9.10.6 Medical
9.10.7 Others
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Operational Technology Analysis and Forecast
10.1 Introduction
10.2 Europe Operational Technology Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Operational Technology Market Size Forecast by Type
10.6.1 Global Operational Technology Market Size Growth Rate by Component: 2016 VS 2021 VS 2027
10.6.2 Field Devices
10.6.3 Control System
10.6.4 Services
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Operational Technology Market Size Forecast by Applications
10.10.1 Food & Beverage
10.10.2 Chemical
10.10.3 Oil & Gas
10.10.4 Automotive
10.10.5 Aerospace & Defense
10.10.6 Medical
10.10.7 Others
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Operational Technology Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Operational Technology Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Operational Technology Market Size Forecast by Type
11.6.1 Global Operational Technology Market Size Growth Rate by Component: 2016 VS 2021 VS 2027
11.6.2 Field Devices
11.6.3 Control System
11.6.4 Services
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Operational Technology Market Size Forecast by Applications
11.10.1 Food & Beverage
11.10.2 Chemical
11.10.3 Oil & Gas
11.10.4 Automotive
11.10.5 Aerospace & Defense
11.10.6 Medical
11.10.7 Others
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Operational Technology Analysis and Forecast
12.1 Introduction
12.2 Latin America Operational Technology Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Operational Technology Market Size Forecast by Type
12.6.1 Global Operational Technology Market Size Growth Rate by Component: 2016 VS 2021 VS 2027
12.6.2 Field Devices
12.6.3 Control System
12.6.4 Services
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Operational Technology Market Size Forecast by Applications
12.10.1 Food & Beverage
12.10.2 Chemical
12.10.3 Oil & Gas
12.10.4 Automotive
12.10.5 Aerospace & Defense
12.10.6 Medical
12.10.7 Others
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Operational Technology Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Operational Technology Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Operational Technology Market Size Forecast by Type
13.6.1 Global Operational Technology Market Size Growth Rate by Component: 2016 VS 2021 VS 2027
13.6.2 Field Devices
13.6.3 Control System
13.6.4 Services
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Operational Technology Market Size Forecast by Applications
13.10.1 Food & Beverage
13.10.2 Chemical
13.10.3 Oil & Gas
13.10.4 Automotive
13.10.5 Aerospace & Defense
13.10.6 Medical
13.10.7 Others
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Operational Technology Market: Competitive Dashboard
14.2 Global Operational Technology Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 ABB
14.3.2 Siemens
14.3.3 Honeywell
14.3.4 General Electric
14.3.5 Schneider Electric
14.3.6 Rockwell Automation
14.3.7 Yokogawa Electric
14.3.8 Emerson Electric
14.3.9 Advantech
14.3.10 Fanuc
14.3.11 Nextnine
14.3.12 Scadafence
14.3.13 Wood Group Mustang
14.3.14 Wunderlich-Malec Engineering
14.3.15 Tesco Controls
14.3.16 SAP
14.3.17 IBM
14.3.18 Cisco Systems
14.3.19 Oracle
14.3.20 Huawei Technologies
14.3.21 Hewlett-Packard Enterprise
14.3.22 NEC Corporation
14.3.23 Cognizant
14.3.24 Accenture
14.3.25 Wipro
