Honeywell International Inc., ABB, and Emerson Electric Co. are Dominating the Global Operational Technology Market in 2020

Global Operational Technology Market is expected to grow at a CAGR of 6.5% in the forecast period of 2021 to 2028. The years considered for study are as mentioned below.

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Major players operating in the global operational technology market are introducing a wide range of hardware and software products. This will help companies maximize their sales with enhanced service portfolio.

For instance,

  • In March 2021, Clarifai, Inc. partnered with CheckMarc to reduce the spread of offensive images, videos, and text content and increase the company’s product reliability. This move will help the company grow and enhance its reputation across the globe.

Honeywell International Inc., is the dominating player in the global operational technology market. Other key players in the market include Gray Matter Systems LLC, Forcepoint, IBM, ABB, General Electric, Schneider Electric, Rockwell Automation, Inc., Emerson Electric Co., Advantech Co., Ltd., Huawei Technologies Co., Ltd., Oracle, Wipro Limited, SCADAfence, SAP SE, Cisco Systems, Accenture plc, Wunderlich-Malec Engineering, Inc., Yokogawa Electric Corporation, and others.

Operational Technology MarketHoneywell International Inc.

Honeywell International Inc., is headquartered in North Carolina, the U.S. and was established in 1885. The company is engaged in designing and providing various operational technology solutions and services to its customers. The product categories of the company include fire and gas services, industrial cyber security services, and OneWireless services, Honeywell forge cyber security and monitoring and safety systems, sensor, and switches. The controls segment is market focused category

  • In February 2021, Honeywell International Inc. was given a major contract for Control, Safety and Security Systems by SEPCO Electric Power Construction Corporation (SEPCO). 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 help the company solidify its presence in security segment

The company has presence in North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. In addition to it, It also generates its revenue from various subsidiary companies such as ADI-Gardiner Limited (U.K.), Honeywell Holdings Pty Ltd. (Australia), Honeywell Korea Ltd. (Korea), Honeywell Japan Inc., (Japan), and others.

ABB

ABB is headquartered in Zurich, Switzerland and was established in 1988. The company is engaged in providing various types of solutions in electrification, industrial automation, motion, and robotics & discrete automation. The product categories of the company include low voltage products and systems, medium voltage products, mechanical power transmission, PLC automation, and robotics, out of which PLC automation, manufacturing execution systems, and control systems segment are market focused categories.

  • In October 2019, ABB entered into a partnership with Operational Technology Cyber Security Alliance (OTCSA). This partnership focused on security of OT 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 share

The company has presence in North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. In addition to it, the company also generates its revenue from the various subsidiary companies such as ABB S.A. (Argentina), ABB Electrification Canada ULC (Canada), ABB Beijing Switchgear Limited (China), and others.

Emerson Electric Co.

Emerson Electric Co. is headquartered in Missouri, the U.S. and was established in 1890. The company is engaged in providing automated, commercial, and residential solutions to various industries. Product categories of the company include automation solutions, commercial, and residential solutions out of which automation solutions segment is a market focused category.

  • In July 2019, Emerson Electric Co. launched a product, which is inspired by Cloud-based technology. Key feature of this product is it’s driven by Cloud-Based SCADA. This can help in cloud-based monitoring, control, and optimization of systems. The product can be deployed in industries such as oil and gas, which can significantly increase the production and can lower operating costs. This product launch was done to strengthen the company’s product portfolio for oil and gas industries.

The company has presence in North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. In addition to it, the company also generates its revenue from various subsidiary companies such as Rosemount Inc. (U.S.) InSinkErator (U.S.), Open Systems International (U.S.), GreenLee (U.S.), and others.