Global Operational Technology Market Size study & Forecast, by Component, by Connectivity, by Industry, by Technology and Regional Analysis, 2023-2030

Description

List of Tables

Global Operational Technology Market is valued at approximately USD 159.4 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 6.10% over the forecast period 2023-2030. Operational Technology (OT) refers to the hardware and software systems used to monitor, control, and manage physical devices and processes in various industries and infrastructures. It is often used in industrial settings, such as manufacturing, energy production, transportation, and utilities, to automate and optimize operations. The Operational Technology market is expanding because of factors such as the rising adoption of the industrial Internet of Things (IIoT), increasing initiatives for digital transformation and Integration with Artificial Intelligence (AI) and Machine Learning (ML) across the industrial sector.

The increasing adoption and integration of Industrial Internet of Things (IIoT) technologies are major factors driving the growth of the operational technology (OT) market. IIoT refers to the network of connected devices, sensors, and equipment used in industrial settings to gather data and enable communication between various machines and systems. This connectivity and data exchange enhance operational efficiency, productivity, and automation in industries. According to Statista, in the year 2020, the Industrial Internet of Things (IIoT) market size worldwide stood at USD 216.13 billion which increased to USD 263.52 billion in the year 2021 and it is projected to reach USD 1110 billion by the year 2028. This increase in market size indicates the rising adoption of IoT in the industrial sector which integrates sensors, connectivity, and data analytics platforms to enable smart automation in the industry, resulting in market growth. In addition, increasing emphasis on real-time data analysis and predictive maintenance as well as strategic initiatives by governments to promote the adoption of operational technologies are creating new opportunities for market growth. However, high installation and maintenance costs and a lack of skilled professionals stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Operational Technology Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to factors such as the rising adoption of smart manufacturing technologies, the presence of key market players, rising industrial automation and the emergence of new technologies such as machine learning and artificial intelligence in the industrial sector. Whereas, Asia Pacific is projected to grow at a significant rate owing to factors such as the rising number of industrial buildings, rising development of smart manufacturing, and rising adoption of IoT devices in industrial settings.

Major market player included in this report are:

ABB Ltd.
Siemens AG
Honeywell International Inc.
General Electric Company
Schneider Electric SE
Rockwell Automation Inc.
Emerson Electric Co.
Oracle Corporation
IBM Corporation
Yokogawa Electric Corporation

Recent Developments in the Market:

In December 2021, General Electric successfully entered into an agreement to acquire Opus One Solutions Energy Corporation. Opus One Solutions is a prominent software company known for its expertise in assisting electric utilities in effectively integrating renewables and Distributed Energy Resources (DERs) across the electric grid. With this acquisition, General Electric aims to bolster utilities' decision-making capabilities, empowering them to adopt renewable energy sources and DERs at a significant scale, thus advancing the sustainability and efficiency of the electrical infrastructure.
In March 2022, Oracle Corporation revealed 11 new computing, networking, and storage services and capabilities. This product launch aimed to reduce costs while enabling users to complete tasks more swiftly and safely. Customers now have a variety of innovative services to pick from that offer an agile core infrastructure, dynamically modify resources to meet application needs, and drastically cut costs.

Global Operational Technology Market Report Scope:

Historical Data: 2020 - 2021
Base Year for Estimation: 2022
Forecast period: 2023-2030
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered: Component, Connectivity, Industry, Technology, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Component:

Field Instruments
Control Systems
Services

By Connectivity:

Wired
Wireless

By Industry:

Process Industry
Discrete Industry

By 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))

By Region:

North America

U.S.
Canada

Europe

UK
Germany
France
Spain
Italy
ROE

Asia Pacific

China
India
Japan
Australia
South Korea
RoAPAC

Latin America

Brazil
Mexico

Middle East & Africa

Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary

1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Operational Technology Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Operational Technology Market, by Component, 2020-2030 (USD Billion)
- 1.2.3. Operational Technology Market, by Connectivity, 2020-2030 (USD Billion)
- 1.2.4. Operational Technology Market, by Industry, 2020-2030 (USD Billion)
- 1.2.5. Operational Technology Market, by Technology, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption

Chapter 2. Global Operational Technology Market Definition and Scope

2.1. Objective of the Study
2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates

Chapter 3. Global Operational Technology Market Dynamics

3.1. Operational Technology Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
  - 3.1.1.1. Rising adoption of industrial Internet of Things (IIoT)
  - 3.1.1.2. Increasing initiatives for digital transformation
  - 3.1.1.3. Integration with Artificial Intelligence (AI) and Machine Learning (ML) across industrial sector
- 3.1.2. Market Challenges
  - 3.1.2.1. High installation and maintenance costs
  - 3.1.2.2. Lack of skilled professionals
- 3.1.3. Market Opportunities
  - 3.1.3.1. Increasing emphasis on real-time data analysis and predictive maintenance
  - 3.1.3.2. Strategic initiatives by governments to promote adoption of operational technologies

Chapter 4. Global Operational Technology Market Industry Analysis

4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
4.2. Porter's 5 Force Impact Analysis
4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion

Chapter 5. Global Operational Technology Market, by Component

5.1. Market Snapshot
5.2. Global Operational Technology Market by Component, Performance - Potential Analysis
5.3. Global Operational Technology Market Estimates & Forecasts by Component 2020-2030 (USD Billion)
5.4. Operational Technology Market, Sub Segment Analysis
- 5.4.1. Field Instruments
- 5.4.2. Control Systems
- 5.4.3. Services

Chapter 6. Global Operational Technology Market, by Connectivity

6.1. Market Snapshot
6.2. Global Operational Technology Market by Connectivity, Performance - Potential Analysis
6.3. Global Operational Technology Market Estimates & Forecasts by Connectivity 2020-2030 (USD Billion)
6.4. Operational Technology Market, Sub Segment Analysis
- 6.4.1. Wired
- 6.4.2. Wireless

Chapter 7. Global Operational Technology Market, by Industry

7.1. Market Snapshot
7.2. Global Operational Technology Market by Industry, Performance - Potential Analysis
7.3. Global Operational Technology Market Estimates & Forecasts by Industry 2020-2030 (USD Billion)
7.4. Operational Technology Market, Sub Segment Analysis
- 7.4.1. Process Industry
- 7.4.2. Discrete Industry

Chapter 8. Global Operational Technology Market, by Technology

8.1. Market Snapshot
8.2. Global Operational Technology Market by Technology, Performance - Potential Analysis
8.3. Global Operational Technology Market Estimates & Forecasts by Technology 2020-2030 (USD Billion)
8.4. Operational Technology Market, Sub Segment Analysis
- 8.4.1. Supervisory Control and Data Acquisition (SCADA)
- 8.4.2. Distributed Control Systems (DCS)
- 8.4.3. Process Control Domains (PCD)
- 8.4.4. Programmable Logic Controllers (PLC)
- 8.4.5. Safety Instrumented Systems (SIS)
- 8.4.6. Building Management/Automation Systems (BAS)

Chapter 9. Global Operational Technology Market, Regional Analysis

9.1. Top Leading Countries
9.2. Top Emerging Countries
9.3. Operational Technology Market, Regional Market Snapshot
9.4. North America Operational Technology Market
- 9.4.1. U.S. Operational Technology Market
  - 9.4.1.1. Component breakdown estimates & forecasts, 2020-2030
  - 9.4.1.2. Connectivity breakdown estimates & forecasts, 2020-2030
  - 9.4.1.3. Industry breakdown estimates & forecasts, 2020-2030
  - 9.4.1.4. Technology breakdown estimates & forecasts, 2020-2030
- 9.4.2. Canada Operational Technology Market
9.5. Europe Operational Technology Market Snapshot
- 9.5.1. U.K. Operational Technology Market
- 9.5.2. Germany Operational Technology Market
- 9.5.3. France Operational Technology Market
- 9.5.4. Spain Operational Technology Market
- 9.5.5. Italy Operational Technology Market
- 9.5.6. Rest of Europe Operational Technology Market
9.6. Asia-Pacific Operational Technology Market Snapshot
- 9.6.1. China Operational Technology Market
- 9.6.2. India Operational Technology Market
- 9.6.3. Japan Operational Technology Market
- 9.6.4. Australia Operational Technology Market
- 9.6.5. South Korea Operational Technology Market
- 9.6.6. Rest of Asia Pacific Operational Technology Market
9.7. Latin America Operational Technology Market Snapshot
- 9.7.1. Brazil Operational Technology Market
- 9.7.2. Mexico Operational Technology Market
9.8. Middle East & Africa Operational Technology Market
- 9.8.1. Saudi Arabia Operational Technology Market
- 9.8.2. South Africa Operational Technology Market
- 9.8.3. Rest of Middle East & Africa Operational Technology Market

Chapter 10. Competitive Intelligence

10.1. Key Company SWOT Analysis
- 10.1.1. Company 1
- 10.1.2. Company 2
- 10.1.3. Company 3
10.2. Top Market Strategies
10.3. Company Profiles
- 10.3.1. ABB Ltd.
  - 10.3.1.1. Key Information
  - 10.3.1.2. Overview
  - 10.3.1.3. Financial (Subject to Data Availability)
  - 10.3.1.4. Product Summary
  - 10.3.1.5. Recent Developments
- 10.3.2. Siemens AG
- 10.3.3. Honeywell International Inc.
- 10.3.4. General Electric Company
- 10.3.5. Schneider Electric SE
- 10.3.6. Rockwell Automation Inc.
- 10.3.7. Emerson Electric Co.
- 10.3.8. Oracle Corporation
- 10.3.9. International Business Machine Corporation
- 10.3.10. Yokogawa Electric Corporation

Chapter 11. Research Process

11.1. Research Process
- 11.1.1. Data Mining
- 11.1.2. Analysis
- 11.1.3. Market Estimation
- 11.1.4. Validation
- 11.1.5. Publishing
11.2. Research Attributes
11.3. Research Assumption

LIST OF TABLES

TABLE 1. Global Operational Technology Market, report scope
TABLE 2. Global Operational Technology Market estimates & forecasts by Region 2020-2030 (USD Billion)
TABLE 3. Global Operational Technology Market estimates & forecasts by Component 2020-2030 (USD Billion)
TABLE 4. Global Operational Technology Market estimates & forecasts by Connectivity 2020-2030 (USD Billion)
TABLE 5. Global Operational Technology Market estimates & forecasts by Industry 2020-2030 (USD Billion)
TABLE 6. Global Operational Technology Market estimates & forecasts by Technology 2020-2030 (USD Billion)
TABLE 7. Global Operational Technology Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 8. Global Operational Technology Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 9. Global Operational Technology Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 10. Global Operational Technology Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 11. Global Operational Technology Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 12. Global Operational Technology Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 13. Global Operational Technology Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 14. Global Operational Technology Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 15. Global Operational Technology Market by segment, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 16. Global Operational Technology Market by region, estimates & forecasts, 2020-2030 (USD Billion)
TABLE 17. U.S. Operational Technology Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 18. U.S. Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 19. U.S. Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 20. Canada Operational Technology Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 21. Canada Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 22. Canada Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 23. UK Operational Technology Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 24. UK Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 25. UK Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 26. Germany Operational Technology Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 27. Germany Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 28. Germany Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 29. France Operational Technology Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 30. France Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 31. France Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 32. Italy Operational Technology Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 33. Italy Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 34. Italy Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 35. Spain Operational Technology Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 36. Spain Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 37. Spain Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 38. RoE Operational Technology Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 39. RoE Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 40. RoE Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 41. China Operational Technology Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 42. China Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 43. China Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 44. India Operational Technology Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 45. India Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 46. India Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 47. Japan Operational Technology Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 48. Japan Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 49. Japan Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 50. South Korea Operational Technology Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 51. South Korea Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 52. South Korea Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 53. Australia Operational Technology Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 54. Australia Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 55. Australia Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 56. RoAPAC Operational Technology Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 57. RoAPAC Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 58. RoAPAC Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 59. Brazil Operational Technology Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 60. Brazil Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 61. Brazil Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 62. Mexico Operational Technology Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 63. Mexico Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 64. Mexico Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 65. RoLA Operational Technology Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 66. RoLA Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 67. RoLA Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 68. Saudi Arabia Operational Technology Market estimates & forecasts, 2020-2030 (USD Billion)
TABLE 69. South Africa Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 70. RoMEA Operational Technology Market estimates & forecasts by segment 2020-2030 (USD Billion)
TABLE 71. List of secondary sources, used in the study of global Operational Technology Market
TABLE 72. List of primary sources, used in the study of global Operational Technology Market
TABLE 73. Years considered for the study
TABLE 74. Exchange rates considered

List of tables and figures and dummy in nature, final lists may vary in the final deliverable

LIST OF FIGURES

FIG 1. Global Operational Technology Market, research methodology
FIG 2. Global Operational Technology Market, Market estimation techniques
FIG 3. Global Market size estimates & forecast methods
FIG 4. Global Operational Technology Market, key trends 2022
FIG 5. Global Operational Technology Market, growth prospects 2023-2030
FIG 6. Global Operational Technology Market, porters 5 force model
FIG 7. Global Operational Technology Market, pest analysis
FIG 8. Global Operational Technology Market, value chain analysis
FIG 9. Global Operational Technology Market by segment, 2020 & 2030 (USD Billion)
FIG 10. Global Operational Technology Market by segment, 2020 & 2030 (USD Billion)
FIG 11. Global Operational Technology Market by segment, 2020 & 2030 (USD Billion)
FIG 12. Global Operational Technology Market by segment, 2020 & 2030 (USD Billion)
FIG 13. Global Operational Technology Market by segment, 2020 & 2030 (USD Billion)
FIG 14. Global Operational Technology Market, regional snapshot 2020 & 2030
FIG 15. North America Operational Technology Market 2020 & 2030 (USD Billion)
FIG 16. Europe Operational Technology Market 2020 & 2030 (USD Billion)
FIG 17. Asia pacific Operational Technology Market 2020 & 2030 (USD Billion)
FIG 18. Latin America Operational Technology Market 2020 & 2030 (USD Billion)
FIG 19. Middle East & Africa Operational Technology Market 2020 & 2030 (USD Billion)