Global Operational Technology Market is Expected to grow at 6.5% CAGR in the Forecast Period of 2021 to 2028

Global Operational Technology Market is expected to grow at 6.5% CAGR stoked by rising adoption of AI in operational technology systems.

Operational technology market has shown an exceptional penetration in countries such as the U.S. as the demand for merging operational technology (OT) and Information Technology (IT) systems is boosting the growth in developed countries. In developing countries, rapid industrialization is creating growth opportunity for the global operational technology market.

Operational Technology Market Scenario

According to Data Bridge Market Research, the market for operational technology in North America holds highest share followed by Europe and Asia-Pacific. Market leader is Honeywell International Inc., which holds an estimated share of approximately 10% to 15% in the global market. The company has gained outstanding sales by providing operational technology products and major projects.

For instance,

  • In February 2021, Honeywell International Inc. was given a major contract for control, safety, and security systems by SEPCO Electric Power Construction Corporation. The company will primarily focus on cyber-secure automation control systems using operational technology that gives operators complete visibility of processes across the site to improve efficiency. This project will boost the confidence of the company as well as help solidify its presence in security segment.

Operational Technology MarketTrends Impacting the Market

Now the question is which other region Honeywell International Inc., ABB and Emerson Electric Co. are targeting? Data Bridge Market Research has forecast a large growth in North America operational technology market and the market leaders targeting the U.S. and Canada to be their next pocket revenue for 2021.

Operational technology is becoming more competitive every year with companies including Honeywell International Inc., ABB and Emerson Electric Co. as they are the market leaders for operational technology. New reports from Data Bridge Market Research highlight major growth factors and opportunities in the operational technology market.

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Operational Technology Market Development

  • In May 2021, Rockwell Automation, Inc. entered into a partnership with Cisco. This partnership is primarily focused on expanding the company’s threat detection services. Key features of this partnership is improved threat detection using Cyber Vision systems for information technology (IT) and operational technology (OT). This was a strategical move from both these companies to expand their market share and customer base.

Scope of the Operational Technology Market

All country based analysis of the global operational technology market is further analyzed based on maximum granularity into further segmentation. On the basis of component, the global operational technology market is segmented into hardware, software/platform, and services. On the basis of deployment, the global operational technology market is segmented into cloud, hybrid, and on premise. On the basis of organization size, the market is segmented into large enterprise and small and medium size business. On the basis of connectivity, the global operational technology market is segmented into wireless and wired. On the basis of technology, the global operational technology market is segmented into Supervisory Control and Data Acquisition (SCADA), Programmable Logic Controllers (PLC), Safety Instrumented Systems (SIS), Distributed Control Systems (DCS), Building Management/Automation Systems (BAS), and Process Control Domains (PCD). On the basis of end-user, the global operational technology market is segmented into oil & gas, chemicals, marine and ports, energy & utilities, metals and mining, automotive and transportation, pulp and paper, food & beverage, life sciences, buildings and infrastructure, and others.

To know more about the study

Key Pointers Covered in Operational Technology Market Industry Trends and Forecast to 2028

  • Market Size
  • Market Standards and Changes
  • Market Trials in Different Regions
  • Market Requirements in Different Regions
  • Market Shares in Different Regions
  • Recent Developments for Market Competitors
  • Recent Market Value for Different regions
  • Sales Data for Market Competitors
  • Market Key Vendors and Disruptors Study

Key Market Competitors Covered in the Report

  • Honeywell International Inc.
  • ABB
  • Emerson Electric Co.
  • Schneider Electric
  • Rockwell Automation, Inc.
  • General Electric
  • Advantech Co., Ltd
  • Accenture
  • Cisco Systems, Inc.
  • Forcepoint
  • Fortinet, Inc.
  • GrayMatter
  • Huawei Technologies Co., Ltd.
  • IBM Corporation
  • Oracle Corporation
  • SAP SE
  • SCADAfence
  • Wipro Limited
  • Wunderlich-Malec Engineering, Inc.
  • Yokogawa Electric Corporation

Above are the key players covered in the report, to know about more and exhaustive list of operational technology, contact us:

Research Methodology: Global Operational Technology Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecast using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or you can drop down your enquiry.

The key research methodology used by DBMR research team is data triangulation, which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, top to bottom analysis, and vendor share analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Primary Respondents

  • Demand Side: Managers, Directors, Government, manufacturing companies, automotive companies,
  • Supply Side: Service Providers, Operational Technology Companies, Marketing Managers, Logistics Managers, and C-Level Executives among others.

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