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), Country (U.S., Canada, and Mexico), Industry Trends and Forecast to 2028.
Market Analysis and Insights: North America operational technology Market
North America operational technology market is expected to gain substantial growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyzes that the market is growing with the CAGR of 6.4% in the forecast period and expected to reach USD 10,174.99 million by 2028.
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).
Some of the factors, which are increasing adoption of operational technology are automation, safety instrumented services, and technical advancements in hardware and software. Rising adoption of automated solutions and enhanced monitoring and control system is boosting the growth of the market. However, failure of critical functioning of OT systems is a major challenge for the growth of the market.
This operational technology market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographical expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an analyst brief, our team will help you create a revenue impact solution to achieve your desired goal.
North America Operational Technology Market Scope and Market Size
The North America operational technology market is segmented on the basis of component, deployment, connectivity, technology, and end-user. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of component, the global operational technology market is segmented into hardware, software/platform, and services. The hardware segment is expected to hold largest share of the market during 2021 as the operational technology is dependent on hardware, such as sensors, switches, controllers, and others, which are essential components for operational technology market.
- On the basis of deployment, the global operational technology market is segmented into cloud, hybrid, and on premise. The cloud segment is expected to hold largest share of the market during 2021 as cloud provides greater scalability compared to other deployment models.
- On the basis of organization size, the North America operational technology market is segmented into large enterprise and small and medium size business. The large enterprise segment is expected to hold largest share of the market during 2021 as large enterprises are equipped with safety instruments with high precision and quality.
- On the basis of connectivity, the global operational technology market is segmented into wireless and wired. The wireless connectivity segment is expected to hold largest share of the market during 2021 as wireless connectivity helps in increasing efficiency, saving cost, and requires less maintenance.
- On the basis of technology, the 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). The SCADA segment is expected to hold largest share of the market during 2021as it provides various advantages, such as increased reliability, reduced costs, improved worker safety, greater customer satisfaction, and improved utilization.
- On the basis of end-user, the North America 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. The oil & gas segment is expected to hold largest share of the market during 2021as the OT technology is majorly used for leak detection, process safety, and process improvements, which is dominated by oil & gas industry.
North America Operational Technology Market Country Level Analysis
The operational technology market is analyzed and market size information is provided by country, components, application, vertical, and product.
The countries covered in North America operational technology market report are the U.S., Canada, and Mexico.
The U.S. accounted for highest share in the North America operational technology market owing to factors such as presence of large number of companies manufacturing operational technologies hardware and software and increasing automation in process safety and process improvement.
The country section of the North America operational technology market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points, such as new sales, replacement sales, country demographics, regulatory acts, and import-export analysis, are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to high competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Increasing adoption of Contract Manufacturing
The North America operational technology market also provides you with detailed market analysis for every country growth in installed base of different kind of products for operational technology market, impact of technology using life line curves and changes in requirement of abrasives products, regulatory scenarios, and their impact on the market. The data is available for historic period 2019.
Competitive Landscape and Operational Technology Market Share Analysis
The North America operational technology market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, company strengths and weaknesses, product launch, clinical trials pipelines, brand analysis, product approvals, patents, product width and breadth, application dominance, and technology lifeline curve. The above data points provided are only related to the companies’ focus on the North America operational technology market.
Some of the major players operating in the North America operational technology market are Fortinet, Inc., Gray Matter Systems LLC, Forcepoint, IBM, ABB, General Electric, Schneider Electric, Rockwell Automation, Inc., Emerson Electric Co., Advantech Co., Ltd., Honeywell International Inc., Huawei Technologies Co., Ltd., Oracle, Wipro Limited, SCADAfence, SAP SE, Cisco Systems, Accenture, Wunderlich-Malec Engineering, Inc., Yokogawa Electric Corporation, and others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
For instance,
- In October 2019, ABB entered into a partnership with Operational Technology Cyber Security Alliance (OTCSA). This partnership focused on security of 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.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for operational technology market through expanded product range.
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