New Year and Chrismas Offer
Operational Technology Market

Operational Technology Market Size, Share & Segment 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), By Regions And Global Forecast 2022-2028

Report Id: SNS/SEMI/1558 | June 2022 | Region: Global | 125 Pages

Report Scope & Overview:

Operational Technology Market Size was valued at USD 148.73 billion in 2021 and is expected to reach USD 228.1 billion by 2028, and grow at a CAGR of 6.3% over the forecast period 2022-2028.

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.

Operational Technology Market Revenue Graph

MARKET DYNAMICS: 

KEY DRIVERS:

  • 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.

RESTRAINTS: 

  • High installation cost.

  • High maintenance costs are associated with it.

OPPORTUNITIES: 

  • Emerging economies are seeing rapid industrial growth.

CHALLENGES: 

  • Increasing automated cyber attacks

IMPACT OF COVID-19: 

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.

COMPETITIVE LANDSCAPE:

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.

KEY MARKET SEGMENTATION:

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

Operational Technology Market Segment Pie Chart

REGIONAL ANALYSIS:

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.

REGIONAL COVERAGE:

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The 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

 

Operational Technology Market Report Scope:
Report Attributes Details
Market Size in 2021 US$ 148.73 Billion
Market Size by 2028 US$ 228.1 Billion
CAGR CAGR of 6.3% From 2022 to 2028
Base Year 2021
Forecast Period 2022-2028
Historical Data 2017-2020
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • 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)
Regional Analysis/Coverage 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)
Company Profiles ABB, Schneider Electric, Honeywell International Inc, IBM, Siemens, Rockwell Automation, Emerson Electric Co, General Electric and Others.
Key Drivers • 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.
Restraints • IHigh installation cost.
• High maintenance costs are associated with it


Frequently Asked Questions (FAQ) :

The Operational Technology Market size was valued at 148 billion in 2021 at a CAGR of 6.3%.

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.

Manufacturers, Consultants, Association, Research Institutes, private and university libraries, suppliers, and distributors of the product.


Table of Contents

 

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

 

2. Research Methodology

 

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

 

4. Impact Analysis

4.1 COVID 19 Impact Analysis

4.2 Impact of Ukraine-Russia War

 

5. Value Chain Analysis

 

6. Porter’s 5 forces model

 

7.  PEST Analysis

 

8. Global Operational Technology Market Segmentation, by Components

8.1Introduction

8.2 Industrial valves

8.3 Industrial sensors

8.4 Transmitters

8.5 Actuators

8.6 Functional Safety

8.7 SCADA

8.8 MES

8.9 DCS

8.10 PAM

8.11 WMS

8.12 HMI

8.13 Other

 

9. Global Operational Technology Market Segmentation, by Technology

9.1 Introduction

9.2 Wired

9.3 Wireless

9.4 Other

 

10. Global Operational Technology Market Segmentation, By Industry

10.1 Introduction

10.2 Oil & Gas

10.3 Pharmaceuticals

10.4 Energy & Power

10.5 Pulp & Paper

10.6 Food & Beverages

10.7 Chemicals

10.8 Metals & Mining

10.9 Automotive

10.10 Semiconductor & Electronics

10.11 Machine Manufacturing

10.12 Aerospace & Defense

10.13 Medical Devices

10.14 Others

 

11. Regional Analysis

11.1 Introduction

11.2 North America

11.2.1 USA

11.2.2    Canada

11.2.3    Mexico

11.3        Europe

11.3.1    Germany

11.3.2    UK

11.3.3    France

11.3.4    Italy

11.3.5    Spain

11.3.6    The Netherlands

11.3.7    Rest of Europe

11.4        Asia-Pacific

11.4.1    Japan

11.4.2    South Korea

11.4.3    China

11.4.4    India

11.4.5    Australia

11.4.6    Rest of Asia-Pacific

11.5        The Middle East & Africa

11.5.1    Israel

11.5.2    UAE

11.5.3    South Africa

11.5.4    Rest

11.6        Latin America

11.6.1    Brazil

11.6.2    Argentina

11.6.3    Rest of Latin America

 

12. Company Profiles

12.1 IBM

12.1.1 Financial

12.1.2 Products/ Services Offered

12.1.3 SWOT Analysis

12.1.4 The SNS view

12.2 ABB

12.3 Schneider Electric

12.4 Honeywell International Inc

12.6 Siemens

12.7 Rockwell Automation

12.8 Emerson Electric Co

12.9 General Electric

12.10 Other

 

13. Competitive Landscape

13.1 Competitive Benchmark

13.2 Market Share analysis

13.3 Recent Developments

 

14. Conclusion

 

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

Each report that we prepare takes a timeframe of 350-400 business hours for production. Starting from the selection of titles through a couple of in-depth brain storming session to the final QC process before uploading our titles on our website we dedicate around 350 working hours. The titles are selected based on their current market cap and the foreseen CAGR and growth.

 

The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.

Consultants are those set of people who have at least 12 years of experience and expertise within the industry whereas Subject Matter Experts are those with at least 15 years of experience behind their back within the same space. The data with the help of two main processes i.e., FGDs (Focused Group Discussions) and IDs (Individual Discussions). This gives us a 3rd party nonbiased primary view of the market scenario making it a more dependable one while collation of the data pointers.

Step 3: Data Bank Validation

Once all the information is collected via primary and secondary sources, we run that information for data validation. At our intelligence centre our research heads track a lot of information related to the market which includes the quarterly reports, the daily stock prices, and other relevant information. Our data bank server gets updated every fortnight and that is how the information which we collected using our primary and secondary information is revalidated in real time.

Step 4: QA/QC Process

After all the data collection and validation our team does a final level of quality check and quality assurance to get rid of any unwanted or undesired mistakes. This might include but not limited to getting rid of the any typos, duplication of numbers or missing of any important information. The people involved in this process include technical content writers, research heads and graphics people. Once this process is completed the title gets uploader on our platform for our clients to read it.

Step 5: Final QC/QA Process:

This is the last process and comes when the client has ordered the study. In this process a final QA/QC is done before the study is emailed to the client. Since we believe in giving our clients a good experience of our research studies, therefore, to make sure that we do not lack at our end in any way humanly possible we do a final round of quality check and then dispatch the study to the client.