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.
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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.
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- Market Coverage
- Market number available for – 2022-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered- By Source, By Product Type, By Applications
- Competitive Landscape- Archer Daniels Midland Co., Ingredion Inc., Kerry Group Plc, Cargill Inc., and others
Market Segmentation
Global Operational Technology Market by Component
- Human-Machine Interface
- Control Systems
Global Operational Technology Market by Networking Technology
- Wired
- Wireless
Global Operational Technology Market by Industry
- Process Industry
- Discrete Industry
Regional Analysis
- North America
- United States
- Canada
- Europe
- UK
- Germany
- Italy
- Spain
- France
- Rest of Europe
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Rest of the World
Company Profiles
- Emerson Electric Co.
- Fuji Electric Co., Ltd.
- General Electric
- Hitachi, Ltd.
- HOLLYSYS
- Mitsubishi Electric Corp.
- IBM Corp.
- Oracle Corp.
- Omron Corp.
- Yokogawa Electric Corp.
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.
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