Product Code: GVR-4-68040-110-4
Operational Technology Market Growth & Trends:
The global operational technology market size is expected to reach USD 364.74 billion by 2030, according to a new report by Grand View Research, Inc.. The industry is anticipated to expand at a lucrative CAGR of 9.7% from 2023 to 2030. This surge is attributed to the increasing reliance on digital technologies in industrial systems, making OT systems more vulnerable to cyber-attacks. Additionally, stringent government regulations, such as the cybersecurity framework for improving industrial control systems (ICS), drive organizations to adopt comprehensive OT security measures. Moreover, the convergence of IT and OT systems creates interconnectedness, exposing OT systems to cyber threats from IT networks. As a result, there is a growing demand for robust OT solutions to protect critical industrial processes from potential cyber risks.
Operational technologies interact with the physical environment, enabling direct control and monitoring of devices, processes, and events. OT examples include DCS, SCADA, PLCs, BMS, CNC systems, scientific equipment, fire control systems, and physical access control mechanisms. OT is vital in operating critical infrastructure such as manufacturing plants, power plants, and water treatment facilities. These technologies are crucial for ensuring efficient and secure management of industrial processes and are integral components of various essential systems in modern society.
The competitive landscape is constantly evolving in the market, and companies are continuously innovating and devising new growth strategies to maintain a leading position in the market. Major players invest in research and development to create innovative security solutions, incorporating AI and machine learning technologies. Additionally, major players engage in mergers and acquisitions to expand their product range and market presence. Product launches catering to evolving customer needs further solidify their position in the competitive landscape. As the OT market continues to flourish, these strategic efforts ensure these companies are well-equipped to capitalize on the market's growth and effectively cater to customer demands.
Operational Technology Market Report Highlights:
- The computer numerical control (CNC) segment led the market in 2022, accounting for over 33% share of the global revenue. The growth is attributed to the widespread adoption of CNC in diverse industries owing to their ability to automate manufacturing processes
- The wired segment led the market in 2022, accounting for over 70% of global revenue. This growth is attributed to its reliability and security compared to wireless alternatives, making it indispensable for critical infrastructure applications
- The on-premise segment will likely account for a sizable share of the global market due to the rise in investments by companies in advanced solutions and systems. Moreover, the growing cases of cyber-attacks and data breaches are compelling companies to implement the solution on their premises
- North America dominated the market in 2022 owing to the increase in government initiatives concerning expenditures in OT solutions. Moreover, the expanding number of operational technology businesses globally is projected to support market expansion
Table of Contents
Chapter 1. Methodology And Scope
- 1.1. Research Methodology
- 1.2. Research Scope And Assumptions
- 1.3. Information Procurement
- 1.3.1. Purchased Database
- 1.3.2. GVR's Internal Database
- 1.3.3. Secondary Sources & Third-Party Perspectives
- 1.3.4. Primary Research
- 1.4. Information Analysis
- 1.4.1. Data Analysis Models
- 1.5. Market Formulation & Data Visualization
- 1.6. Data Validation & Publishing
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segmental Outlook
- 2.3. Competitive Insights
Chapter 3. Market Variables, Trends, And Scope
- 3.1. Market Lineage
- 3.2. Industry Value Chain Analysis
- 3.3. Operational Technology Market - Market Dynamics
- 3.3.1. Market Driver Analysis
- 3.3.1.1. The Growing Demand For Real-Time Data Analysis And Predictive Maintenance
- 3.3.1.2. Surging Adoption Of Cloud-Based Ot Solutions
- 3.3.2. Market Restraint Analysis
- 3.3.2.1. High Installation And Maintenance Costs.
- 3.3.3. Industry Challenges
- 3.4. Business Environmental Tools Analysis: Operational Technology Market
- 3.4.1. Porter's Five Forces Analysis
- 3.4.1.1. Bargaining Power Of Suppliers
- 3.4.1.2. Bargaining Power Of Buyers
- 3.4.1.3. Threat Of Substitution
- 3.4.1.4. Threat Of New Entrants
- 3.4.1.5. Competitive Rivalry
- 3.4.2. Pestle Analysis
- 3.4.2.1. Political Landscape
- 3.4.2.2. Economic Landscape
- 3.4.2.3. Social Landscape
- 3.4.2.4. Technology Landscape
- 3.4.2.5. Environmental Landscape
- 3.4.2.6. Legal Landscape
- 3.5. Economic Mega Trend Analysis
Chapter 4. Operational Technology Market: Component Estimates & Trend Analysis
- 4.1. Operational Technology Market, By Component: Key Takeaways
- 4.2. Operational Technology Market: Component Movement Analysis, 2022 & 2030
- 4.3. Supervisory Control And Data Acquisition (SCADA)
- 4.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
- 4.3.1.1. Programmable Logic Controller (Plc)
- 4.3.1.2. Remote Terminal Units (RTU)
- 4.3.1.3. Human-Machine Interface (Hmi)
- 4.3.1.4. Others
- 4.4. Distributed Control System (DCS)
- 4.4.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
- 4.5. Manufacturing Execution System Market
- 4.5.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
- 4.6. Functional Safety
- 4.6.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
- 4.7. Building Management System
- 4.7.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
- 4.8. Plant Asset Management (PAM)
- 4.8.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
- 4.9. Variable Frequency Drives (VFD)
- 4.9.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
- 4.10. Computer Numerical Control (CNC)
- 4.10.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
- 4.11. Others
- 4.11.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
Chapter 5. Operational Technology Market: Connectivity Estimates & Trend Analysis
- 5.1. Operational Technology Market, By Connectivity: Key Takeaways
- 5.2. Operational Technology Market: Connectivity Movement Analysis, 2022 & 2030
- 5.3. Wired
- 5.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
- 5.4. Wireless
- 5.4.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
Chapter 6. Operational Technology Market: Deployment Estimates & Trend Analysis
- 6.1. Operational Technology Market, By Deployment: Key Takeaways
- 6.2. Operational Technology Market: Deployment Movement Analysis, 2022 & 2030
- 6.3. Cloud
- 6.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
- 6.4. On-Premises
- 6.4.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
Chapter 7. Operational Technology Market: Enterprise Size Estimates & Trend Analysis
- 7.1. Operational Technology Market, By Enterprise Size: Key Takeaways
- 7.2. Operational Technology Market: Enterprise Size Movement Analysis, 2022 & 2030
- 7.3. Smes
- 7.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
- 7.4. Large Enterprises
- 7.4.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
Chapter 8. Operational Technology Market: Industry Estimates & Trend Analysis
- 8.1. Operational Technology Market, By Industry: Key Takeaways
- 8.2. Operational Technology Market: Industry Movement Analysis, 2022 & 2030
- 8.3. Process Industry
- 8.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
- 8.3.1.1. Oil & Gas
- 8.3.1.2. Chemicals
- 8.3.1.3. Pulp & Paper
- 8.3.1.4. Pharmaceuticals
- 8.3.1.5. Mining & Metals
- 8.3.1.6. Energy & Power
- 8.3.1.7. Others
- 8.4. Discrete Industry
- 8.4.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
- 8.4.1.1. Automotive
- 8.4.1.2. Semiconductor & Electronics
- 8.4.1.3. Aerospace & Defense
- 8.4.1.4. Heavy Manufacturing
- 8.4.1.5. Others
Chapter 9. Operational Technology Market: Regional Estimates & Trend Analysis
- 9.1. Operational Technology Market: Regional Movement Analysis, 2022 & 2030
- 9.2. North America
- 9.2.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
- 9.2.2. U.S.
- 9.2.2.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
- 9.2.3. Canada
- 9.2.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
- 9.3. Europe
- 9.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
- 9.3.2. Germany
- 9.3.2.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
- 9.3.3. France
- 9.3.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
- 9.3.4. U.K.
- 9.3.4.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
- 9.4. Asia Pacific
- 9.4.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
- 9.4.2. China
- 9.4.2.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
- 9.4.3. Japan
- 9.4.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
- 9.4.4. India
- 9.4.4.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
- 9.4.5. South Korea
- 9.4.5.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
- 9.4.6. Australia
- 9.4.6.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
- 9.5. Latin America
- 9.5.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
- 9.5.2. Brazil
- 9.5.2.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
- 9.5.3. Mexico
- 9.5.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
- 9.6. Middle East & Africa
- 9.6.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
- 9.6.2. KSA
- 9.6.2.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
- 9.6.3. UAE
- 9.6.3.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
- 9.6.4. South Africa
- 9.6.4.1. Market Estimates And Forecasts, 2017 - 2030 (USD Billion)
Chapter 10. Competitive Landscape
- 10.1. Company Categorization
- 10.2. Company Market Positioning
- 10.3. Company Heat Map Analysis
- 10.4. Strategy Mapping
- 10.4.1. Expansion
- 10.4.2. Mergers & Acquisition
- 10.4.3. Partenerships & Collaborations
- 10.4.4. New Product Launches
- 10.4.5. Research & Development
- 10.5. Company Profiles/Listing
- 10.5.1. Abb
- 10.5.1.1. Overview
- 10.5.1.2. Financial Performance
- 10.5.1.3. Product Benchmarking
- 10.5.2. Emerson Electric Co.
- 10.5.2.1. Overview
- 10.5.2.2. Financial Performance
- 10.5.2.3. Product Benchmarking
- 10.5.3. Fortinet, Inc.
- 10.5.3.1. Overview
- 10.5.3.2. Financial Performance
- 10.5.3.3. Product Benchmarking
- 10.5.4. Forcepoint
- 10.5.4.1. Overview
- 10.5.4.2. Financial Performance
- 10.5.4.3. Product Benchmarking
- 10.5.5. General Electric
- 10.5.5.1. Overview
- 10.5.5.2. Financial Performance
- 10.5.5.3. Product Benchmarking
- 10.5.6. Honeywell International Inc.
- 10.5.6.1. Overview
- 10.5.6.2. Financial Performance
- 10.5.6.3. Product Benchmarking
- 10.5.7. Huawei Technologies Co., Ltd.
- 10.5.7.1. Overview
- 10.5.7.2. Financial Performance
- 10.5.7.3. Product Benchmarking
- 10.5.8. Ibm Corporation.
- 10.5.8.1. Overview
- 10.5.8.2. Financial Performance
- 10.5.8.3. Product Benchmarking
- 10.5.9. Rockwell Automation
- 10.5.9.1. Overview
- 10.5.9.2. Financial Performance
- 10.5.9.3. Product Benchmarking
- 10.5.10. Schneider Electric
- 10.5.10.1. Overview
- 10.5.10.2. Financial Performance
- 10.5.10.3. Product Benchmarking