Operational Technology Market
Global Operational Technology Market Size, Share & Trends Analysis Report by Components (Human-Machine Interface and Control Systems), by Networking Technology (Wired and Wireless), and by Industry (Process Industry and Discrete Industry) Forecast Period (2022-2028)
The global operational technology market is anticipated to grow at a significant CAGR during the forecast period. Operational technology systems are hardware and software. They are used to detect the cause of change via direct monitoring with the support of a physical device. Additionally, operational technology performs several applications using various technologies such as Supervisory Control and Data Acquisition (SCADA), Distributed Control Systems (DCS), Process Control Domains (PCD), and Programmable Logic Controllers (PLC). The major factor driving the growth of the global operational technology market during the forecast is the growing adoption of Industry 4.0 as well as the growing emphasis on industrial automation in manufacturing processes. Additionally, the growth of the market can also be attributed to the growing demand for software systems to reduce the time and cost of operations in industries across the globe.
Impact of COVID-19 Pandemic on Global Operational Technology Market
The COVID-19 pandemic had impacted the global operational technology market to a great extent. During COVID-19, as of May 2020, 212 countries had been impacted by the pandemic, and the governments of these countries had ordered nationwide lockdowns which shut down operations of various companies. Additionally, the operation, subsystems, and components of several industries were halted due to disruption in the supply chain which negatively impacted the market growth. However, as the COVID-19 situation normalizes, the global operational technology market started to recover due to the lifting of government regulations which recovered the supply chain and manufacturing operations of companies.
Segmental Outlook
The global operational technology market is segmented based on components, networking technology and industry. Based on the component, the market is sub-segmented into the human-machine interface (industrial valves, transmitters, industrial sensors, actuators) and control systems (SCADA, PAM, MES, WMS, DCS, HMI, functional safety). Based on the networking technology, the market is sub-segmented into wired and wireless. Based on the industry, the market is sub-segmented into process industry (oil & gas, food & beverages, pharmaceuticals, chemicals, energy & power, metals & mining, pulp & paper and others) and discrete industry (automotive, aerospace & defense, semiconductor & electronics, medical devices, machine manufacturing and others).
Global Operational Technology Market Share by Component, 2021 (%)
Industrial Sensors within Human-Machine Interface Segment Expected to Hold a Prominent Share in the Global Operational Technology Market
Based on the component, the industrial sensors under the human-machine interface segment in the global operational technology market hold a prominent share. The factor driving the growth of the segment includes the increase in expansion of the wireless sensors market. Additionally, the growth of the segment can also be attributed to the opportunities offered to the key players by the implementation of predictive maintenance in industries across the globe.
Regional Outlook
The global operational technology market is further segmented based on geography including North America (the US, and Canada), Europe (UK, Germany, Italy, Spain, France, and Others), Asia-Pacific (India, China, Japan, South Korea, and Others), and the Rest of the World (the Middle East & Africa, and Latin America).
Global Operational Technology Market Growth by Region, 2022-2028
The Asia-Pacific Region is Anricipated to Hold Considerable Share of the Global Operational Technology Market
The Asia-Pacific region is anticipated to hold a prominent share in the operational technology market. The major factor driving the growth of the market in the region is the growing demand for smart tools due to the increasing adoption of automation in industries. Additionally, the growing adoption of technologies such as Industry 4.0, smart factories, IoT, and IIoT is also driving the growth of the market in the region. Furthermore, the growing need to optimize productivity as well as reduce operational and maintenance costs is driving the growth of the market in the Asia-Pacific region during the forecast period.
Market Players Outlook
The major companies serving the global operational technology market include ABB Ltd., Honeywell International Inc., Rockwell Automation Inc., Schneider Electric, Siemens AG, among others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers and acquisitions, partnerships, collaborations, and geographical expansion, to stay competitive in the market. For instance, in September 2021, Siemens launched Sitrans IQ. It is a new digitalization portfolio designed for targeted monitoring of critical measurement points to complete asset management covering instrumentation for multiple plants. Additionally, it meets all types of requirements which include apps for smart asset management, smart inventory management, remote monitoring, Bluetooth connectivity for field devices, and condition monitoring of capital assets.
The Report Covers
- Market value data analysis of 2021 and forecast to 2028.
- Annualized market revenues ($ million) for each market segment.
- Country-wise analysis of major geographical regions.
- Key companies operating in the global operational technology market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.
- Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
- Analysis of market entry and market expansion strategies.
- Competitive strategies by identifying ‘who-stands-where’ in the market.
1. Report Summary
• Current Industry Analysis and Growth Potential Outlook
• Impact of COVID-19 on the Global Operational Technology Market
• Recovery Scenario of Global Operational Technology Market
1.1. Research Methods and Tools
1.2. Market Breakdown
1.2.1. By Segments
1.2.2. BY Region
2. Market Overview and Insights
2.1. Scope of the Report
2.2. Analyst Insight & Current Market Trends
2.2.1. Key Findings
2.2.2. Recommendations
2.2.3. Conclusion
3. Competitive Landscape
3.1. Key Company Analysis
3.1.1. ABB Ltd.
3.1.1.1. Overview
3.1.1.2. Financial Analysis
3.1.1.3. SWOT Analysis
3.1.1.4. Recent Developments
3.1.2. Honeywell International Inc.
3.1.2.1. Overview
3.1.2.2. Financial Analysis
3.1.2.3. SWOT Analysis
3.1.2.4. Recent Developments
3.1.3. Rockwell Automation Inc.
3.1.3.1. Overview
3.1.3.2. Financial Analysis
3.1.3.3. SWOT Analysis
3.1.3.4. Recent Developments
3.1.4. Schneider Electric
3.1.4.1. Overview
3.1.4.2. Financial Analysis
3.1.4.3. SWOT Analysis
3.1.4.4. Recent Developments
3.1.5. Siemens AG
3.1.5.1. Overview
3.1.5.2. Financial Analysis
3.1.5.3. SWOT Analysis
3.1.5.4. Recent Developments
3.2. Key Strategy Analysis
3.3. Impact of Covid-19 on Key Players
4. Market Segmentation
4.1. Global Operational Technology Market by Component
4.1.1. Human-Machine Interface
4.1.2. Control Systems
4.2. Global Operational Technology Market by Networking Technology
4.2.1. Wired
4.2.2. Wireless
4.3. Global Operational Technology Market by Industry
4.3.1. Process Industry
4.3.2. Discrete Industry
5. Regional Analysis
5.1. North America
5.1.1. United States
5.1.2. Canada
5.2. Europe
5.2.1. UK
5.2.2. Germany
5.2.3. Italy
5.2.4. Spain
5.2.5. France
5.2.6. Rest of Europe
5.3. Asia-Pacific
5.3.1. China
5.3.2. India
5.3.3. Japan
5.3.4. South Korea
5.3.5. Rest of Asia-Pacific
5.4. Rest of the World
6. Company Profiles
6.1. Emerson Electric Co.
6.2. Fuji Electric Co., Ltd.
6.3. General Electric
6.4. Hitachi, Ltd.
6.5. HOLLYSYS
6.6. Mitsubishi Electric Corp.
6.7. IBM Corp.
6.8. Oracle Corp.
6.9. Omron Corp.
6.10. Yokogawa Electric Corp.
1. GLOBAL OPERATIONAL TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028 ($ MILLION)
2. GLOBAL OPERATIONAL TECHNOLOGY BY HUMAN-MACHINE INTERFACE MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
3. GLOBAL OPERATIONAL TECHNOLOGY BY CONTROL SYSTEMS MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
4. GLOBAL OPERATIONAL TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY NETWORKING TECHNOLOGY, 2021-2028 ($ MILLION)
5. GLOBAL WIRED OPERATIONAL TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
6. GLOBAL WIRELESS OPERATIONAL TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
7. GLOBAL OPERATIONAL TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY INDUSTRY, 2021-2028 ($ MILLION)
8. GLOBAL OPERATIONAL TECHNOLOGY FOR PROCESS INDUSTRY MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
9. GLOBAL OPERATIONAL TECHNOLOGY FOR DISCRETE INDUSTRY MARKET RESEARCH AND ANALYSIS BY REGION, 2021-2028 ($ MILLION)
10. GLOBAL OPERATIONAL TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY GEOGRAPHY, 2021-2028 ($ MILLION)
11. NORTH AMERICAN OPERATIONAL TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
12. NORTH AMERICAN OPERATIONAL TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028 ($ MILLION)
13. NORTH AMERICAN OPERATIONAL TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY NETWORKING TECHNOLOY, 2021-2028 ($ MILLION)
14. NORTH AMERICAN OPERATIONAL TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY INDUSTRY, 2021-2028 ($ MILLION)
15. EUROPEAN OPERATIONAL TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
16. EUROPEAN OPERATIONAL TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028 ($ MILLION)
17. EUROPEAN OPERATIONAL TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY NETWORKING TECHNOLOGIES, 2021-2028 ($ MILLION)
18. EUROPEAN OPERATIONAL TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY INDUSTRY, 2021-2028 ($ MILLION)
19. ASIA-PACIFIC OPERATIONAL TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
20. ASIA-PACIFIC OPERATIONAL TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028 ($ MILLION)
21. ASIA-PACIFIC OPERATIONAL TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY NETWORKING TECHNOLOGY, 2021-2028 ($ MILLION)
22. ASIA-PACIFIC OPERATIONAL TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY INDUSTRY, 2021-2028 ($ MILLION)
23. REST OF THE WORLD OPERATIONAL TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY COUNTRY, 2021-2028 ($ MILLION)
24. REST OF THE WORLD OPERATIONAL TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY COMPONENT, 2021-2028 ($ MILLION)
25. REST OF THE WORLD OPERATIONAL TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY NETWORKING TECHNOLOGY, 2021-2028 ($ MILLION)
26. REST OF THE WORLD OPERATIONAL TECHNOLOGY MARKET RESEARCH AND ANALYSIS BY INDUSTRY, 2021-2028 ($ MILLION)
1. IMPACT OF COVID-19 ON GLOBAL OPERATIONAL TECHNOLOGY MARKET, 2021-2028 ($ MILLION)
2. IMPACT OF COVID-19 ON GLOBAL OPERATIONAL TECHNOLOGY MARKET BY SEGMENT, 2021-2028 ($ MILLION)
3. RECOVERY OF GLOBAL OPERATIONAL TECHNOLOGY MARKET, 2022-2028 (%)
4. GLOBAL OPERATIONAL TECHNOLOGY MARKET SHARE BY COMPONENT, 2021 VS 2028 (%)
5. GLOBAL OPERATIONAL TECHNOLOGY BY HUMAN-MACHINE INTERFACE MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
6. GLOBAL OPERATIONAL TECHNOLOGY BY CONTROL SYSTEMS MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
7. GLOBAL OPERATIONAL TECHNOLOGY MARKET SHARE BY NETWORKING TECHNOLOGY, 2021 VS 2028 (%)
8. GLOBAL WIRED OPERATIONAL TECHNOLOGY MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
9. GLOBAL WIRELESS OPERATIONAL TECHNOLOGY MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
10. GLOBAL OPERATIONAL TECHNOLOGY MARKET SHARE BY INDUSTRY, 2021 VS 2028 (%)
11. GLOBAL OPERATIONAL TECHNOLOGY FOR PROCESS INDUSTRY MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
12. GLOBAL OPERATIONAL TECHNOLOGY FOR DISCRETE INDUSTRY MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
13. GLOBAL OPERATIONAL TECHNOLOGY MARKET SHARE BY GEOGRAPHY, 2021 VS 2028 (%)
14. US OPERATIONAL TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
15. CANADA OPERATIONAL TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
16. UK OPERATIONAL TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
17. FRANCE OPERATIONAL TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
18. GERMANY OPERATIONAL TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
19. ITALY OPERATIONAL TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
20. SPAIN OPERATIONAL TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
21. REST OF EUROPE OPERATIONAL TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
22. INDIA OPERATIONAL TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
23. CHINA OPERATIONAL TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
24. JAPAN OPERATIONAL TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
25. SOUTH KOREA OPERATIONAL TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
26. REST OF ASIA-PACIFIC OPERATIONAL TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
27. REST OF THE WORLD OPERATIONAL TECHNOLOGY MARKET SIZE, 2021-2028 ($ MILLION)
