PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1517584
PUBLISHER: Global Market Insights Inc. | PRODUCT CODE: 1517584
Operational Technology Market - By offering, By Connectivity, By Deployment Type By End-user, Forecast 2024 - 2032
Global Operational Technology Market will indicate over 7% CAGR from 2024 to 2032, catapulted by an enhanced emphasis on securing operational technology systems against cyber threats and vulnerabilities. According to IT Governance, the number of data breaches and cyber-attack incidents in December 2023 reached 1,351, with a total of 2,241,916,765 records breached during that month.
The increasing focus on cybersecurity has propelled the demand for robust security solutions across industrial environments. As organizations seek to protect their critical infrastructure from cyber threats, investments in advanced cybersecurity measures, including intrusion detection systems and secure communication protocols, are rising. This heightened emphasis not only enhances the resilience of operational technology systems but also encourages innovation in security technologies. Consequently, businesses are more inclined to adopt integrated solutions that ensure both operational efficiency and cybersecurity, further propelling growth in the operational technology market and fostering a safer industrial landscape.
The overall operational technology industry is categorized based on offering, connectivity, deployment type, end-user, and region.
The software segment will grab a considerable operational technology market share through 2032 due to the increasing complexity and scale of industrial processes. Modern industries require advanced software to manage, monitor, and optimize these processes effectively. Additionally, the push towards automation and the need for seamless integration between OT and IT systems are driving the demand for specialized OT software. Enhanced data analytics capabilities provided by OT software allow for better decision-making and improved operational efficiency, further contributing to the growing demand in this segment.
The on-premises segment will infer a noteworthy CAGR in the operational technology market from 2024 to 2032. The demand for operational technology (OT) in the on-premises segment is rising due to the need for greater control, security, and customization of industrial processes. On-premises OT solutions allow companies to maintain direct oversight of their critical systems, ensuring data privacy and reducing reliance on external networks. This is particularly important for industries handling sensitive information or operating in areas with limited internet connectivity. Furthermore, on-premises deployments offer the flexibility to tailor solutions to specific operational needs, enhancing efficiency and reliability in complex industrial environments.
Asia Pacific operational technology market size is expanding because of rapid industrialization and urbanization. Countries like China, India, and Southeast Asian nations are heavily investing in smart manufacturing, infrastructure development, and energy projects. Additionally, the increasing focus on improving productivity and efficiency in various industries ushers the adoption of advanced OT solutions. Government initiatives supporting digitalization and technological advancements boost the OT market. Asia Pacific's expanding production sector, coupled with the need for modernization, significantly contributes to the rising demand for OT in Asia Pacific.
Table of Contents
Chapter 1 Methodology & Scope
- 1.1 Market scope & definition
- 1.2 Base estimates & calculations
- 1.3 Forecast parameters
- 1.4 Data sources
- 1.4.1 Primary
- 1.4.2 Secondary
- 1.4.2.1 Paid sources
- 1.4.2.2 Public sources
Chapter 2 Executive Summary
- 2.1 Industry 360 degree synopsis, 2018 - 2032
- 2.2 Business trends
- 2.2.1 Total Addressable Market (TAM), 2024-2032
Chapter 3 Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Vendor matrix
- 3.3 Technology & innovation landscape
- 3.4 Patent analysis
- 3.5 Key news and initiatives
- 3.6 Regulatory landscape
- 3.7 Impact forces
- 3.7.1 Growth drivers
- 3.7.1.1 Increasing focus towards cybersecurity concerns
- 3.7.1.2 Rising adoption of cloud-based OT Solutions
- 3.7.1.3 Rising trend of digital technologies in the industrial sector
- 3.7.1.4 Growing adoption of Saas solutions
- 3.7.1.5 Surge in integration of government initiatives in security standards
- 3.7.2 Industry pitfalls & challenges
- 3.7.2.1 Interoperability issues
- 3.7.2.2 Shortage of skilled professionals with expertise in both OT and IT disciplines
- 3.7.1 Growth drivers
- 3.8 Growth potential analysis
- 3.9 Porter's analysis
- 3.9.1 Supplier power
- 3.9.2 Buyer power
- 3.9.3 Threat of new entrants
- 3.9.4 Threat of substitutes
- 3.9.5 Industry rivalry
- 3.10 PESTEL analysis
Chapter 4 Competitive Landscape, 2023
- 4.1 Company market share analysis
- 4.2 Competitive positioning matrix
- 4.3 Strategic outlook matrix
Chapter 5 Market Estimates & Forecast, By Offering, 2018 - 2032 (USD Billion)
- 5.1 Key trends
- 5.2 Hardware
- 5.2.1 Industrial sensors
- 5.2.2 Controllers
- 5.2.3 Actuators
- 5.2.4 Human-Machine Interfaces (HMI)
- 5.3 Software
- 5.3.1 Data Acquisition (DAQ) Software
- 5.3.2 Control system software
- 5.3.3 Industrial automation software
- 5.3.4 Enterprise Asset Management (EAM) Systems
- 5.4 Services
- 5.4.1 System Design and Integration
- 5.4.2 Implementation and Deployment
- 5.4.3 Maintenance and Support
- 5.4.4 Security Services
Chapter 6 Market Estimates & Forecast, By Connectivity, 2018 - 2032 (USD Billion)
- 6.1 Key trends
- 6.2 Wired
- 6.3 Wireless
Chapter 7 Market Estimates & Forecast, By Deployment Type, 2018 - 2032 (USD Billion)
- 7.1 Key trends
- 7.2 Cloud
- 7.3 On-Premises
Chapter 8 Market Estimates & Forecast, By End-user, 2018 - 2032 (USD Billion)
- 8.1 Key trends
- 8.2 Process Industry
- 8.2.1 Oil & Gas
- 8.2.2 Chemicals
- 8.2.3 Pulp & Paper
- 8.2.4 Pharmaceuticals
- 8.2.5 Others
- 8.3 Discrete Industry
- 8.3.1 Automotive
- 8.3.2 Semiconductor & Electronics
- 8.3.3 Aerospace & Defense
- 8.3.4 Others
Chapter 9 Market Estimates & Forecast, By Region, 2018 - 2032 (USD Billion)
- 9.1 Key trends
- 9.2 North America
- 9.2.1 U.S.
- 9.2.2 Canada
- 9.3 Europe
- 9.3.1 UK
- 9.3.2 Germany
- 9.3.3 France
- 9.3.4 Italy
- 9.3.5 Spain
- 9.3.6 Rest of Europe
- 9.4 Asia Pacific
- 9.4.1 China
- 9.4.2 India
- 9.4.3 Japan
- 9.4.4 South Korea
- 9.4.5 ANZ
- 9.4.6 Rest of Asia Pacific
- 9.5 Latin America
- 9.5.1 Brazil
- 9.5.2 Mexico
- 9.5.3 Rest of Latin America
- 9.6 MEA
- 9.6.1 UAE
- 9.6.2 Saudi Arabia
- 9.6.3 South Africa
- 9.6.4 Rest of MEA
Chapter 10 Company Profiles
- 10.1 ABB
- 10.2 Cisco Systems, Inc.
- 10.3 Emerson Electric co.
- 10.4 Forcepoint
- 10.5 Fortinet, Inc.
- 10.6 General Electric
- 10.7 Honeywell International Inc.
- 10.8 Huawei Technologies Co., Ltd.
- 10.9 Rockwell Automation
- 10.10 Schneider Electric
- 10.11 TE Connectivity
- 10.12 Yokogawa Electric Corporation
