The Operational Technology Market Size was valued at USD 158.1 billion in 2022 and is expected to reach USD 257.74 billion by 2030 and grow at a CAGR of 6.3% over the forecast period 2023-2030.
Operating technology is a combination of hardware and software, which monitors, controls, and controls industrial processes and industrial equipment. OT stores materials such as factories, power plants, equipment, machinery, and other equipment. High IoT penetration and growing demand for automated services across all industries are at the forefront of this market. In addition, OT market growth has been largely due to the growing demand for M2M Communication, Human-Machine Interface, Safety Automation Systems, remote diagnostics, Automation Systems, Operator Interface Terminal, and tools based on Programmable Logic controls, focused on something. planning, etc. In addition, industrial development in developing countries, and the government efforts to digitize and growing investment to develop 5G have contributed to the adoption of OT in various sectors, thus advancing the OT industry.
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Governments are taking strategic steps to encourage the adoption of Operational Technologies.
With smart automation, there is a growing demand for smart industrial automation all over the world.
High installation cost.
High maintenance costs are associated with it.
Emerging economies are seeing rapid industrial growth.
Increasing automated cyber attacks
COVID-19 has had a devastating effect on the global economy and on all industries around the world. Governments in various countries have set boundaries to prevent the spread of the plague. The global shutdown of the first phase of the epidemic in various countries has had a profound impact on people's lives and quality of life. This has led to a global supply chain disruption. The global economy has shrunk as the demand for commodities has dropped dramatically. Production in all industries is limited due to this epidemic leading to shortages of immature materials. Depreciation and disruption to the supply chain are factors that contribute to a decline in productivity. During this time, the main objective of the companies was to sustain their businesses, where operational technology played a key role in well-performing companies with limited resources available and staff.
Oil & Gas
Energy & Power
Pulp & Paper
Food & Beverages
Metals & Mining
Semiconductor & Electronics
Aerospace & Defense
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The major factors driving the growth of APAC technology market performance are the growing demand for smart tools due to increased industrial automation, the growing adoption of technologies such as Industry 4.0, industry intelligence, IoT, and the growing need to increase productivity and reduce operating and maintenance costs. Government support in the various APAC countries for industrial development is one of the key factors that will increase the need for operational technology in the coming years. Various efforts by local governments, such as China's Made in China 2025, South Korea's Industrial Value Chain Initiative (IVI), The Manufacturing Innovation Strategy 3.0 (Strategy 3.0), and India's Samarth Udyog Bharat 4.0, may play a major role in industrial development and as a result create opportunities for growth in the technology market.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
The Key Players in the Global Operational Technology Market are ABB, Schneider Electric, Honeywell International Inc, IBM, Siemens, Rockwell Automation, Emerson Electric Co, General Electric and Others.
Honeywell International Inc-Company Financial Analysis
|Market Size in 2022
|US$ 158.1 Billion
|Market Size by 2030
|US$ 257.41 Billion
|CAGR of 6.3% From 2023 to 2030
|Report Scope & Coverage
|Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
|• By Components (Industrial Valves, Industrial Sensors, Transmitters, Actuators, Functional Safety, SCADA, MES, DCS, PAM, WMS, HMI)
• By Technology (Wired, Wireless)
• By Industry (Oil & Gas, Pharmaceuticals, Energy & Power, Pulp & Paper, Food & Beverages, Chemicals, Metals & Mining, Automotive, Semiconductor & Electronics, Machine Manufacturing, Aerospace & Defense, Medical Devices, Others)
|North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|ABB, Schneider Electric, Honeywell International Inc, IBM, Siemens, Rockwell Automation, Emerson Electric Co, General Electric and Others.
|• Governments are taking strategic steps to encourage the adoption of Operational Technologies.
• With smart automation, there is a growing demand for smart industrial automation all over the world.
|• IHigh installation cost.
• High maintenance costs are associated with it
Ans: The Operational Technology Market size was valued at US$ 158.1 billion in 2022.
Growing adoption of technologies such as Industry 4.0, industry intelligence, IoT, and the growing need to increase productivity and reduce operating and maintenance costs are the factors driving the growth of the APAC market.
Governments are taking strategic steps to encourage the adoption of Operational Technologies and With smart automation, there is a growing demand for smart industrial automation all over the world are the driving factors of the Operational Technology Market.
Yes, and they are Raw material vendors, Distributors/traders/wholesalers/suppliers, Regulatory authorities, including government agencies and NGO, Commercial research & development (R&D) institutions, Importers and exporters, Government organizations, research organizations, and consulting firms, Trade/Industrial associations, End-use industries.
Ans: The Operational Technology Market is to grow at a CAGR of 6.3% over the forecast period 2023-2030.
Table of Contents
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
18.104.22.168 United Kingdom
22.214.171.124 South Korea
126.96.36.199 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Global Operational Technology Market Segmentation, by Components
8.2 Industrial valves
8.3 Industrial sensors
8.6 Functional Safety
9. Global Operational Technology Market Segmentation, by Technology
10. Global Operational Technology Market Segmentation, By Industry
10.2 Oil & Gas
10.4 Energy & Power
10.5 Pulp & Paper
10.6 Food & Beverages
10.8 Metals & Mining
10.10 Semiconductor & Electronics
10.11 Machine Manufacturing
10.12 Aerospace & Defense
10.13 Medical Devices
11. Regional Analysis
11.2 North America
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12. Company Profiles
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.3 Schneider Electric
12.4 Honeywell International Inc
12.7 Rockwell Automation
12.8 Emerson Electric Co
12.9 General Electric
13. Competitive Landscape
13.1 Competitive Benchmark
13.2 Market Share Analysis
13.3 Recent Developments
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