Operational Technologies Global Market Report 2024

Description

Operational technology (OT) encompasses a fusion of hardware and software systems employed for monitoring, controlling, and managing physical processes, devices, and infrastructure across various industries. It plays a crucial role in optimizing industrial processes, enhancing efficiency, ensuring safety, and facilitating the automation and digitization of industrial operations.

The primary components of operational technologies comprise control systems and field devices. Control systems are automated systems responsible for managing and regulating the behavior of other systems or processes. These technologies are deployed using wired and wireless connections and are applied across diverse verticals, including oil and gas, food and beverages, energy and power, automotive, and others.

The operational technologies market research report is one of a series of new reports from The Business Research Company that provides operational technologies market statistics, including the operational technologies industry global market size, regional shares, competitors with operational technologies market share, detailed operational technologies market segments, market trends, and opportunities, and any further data you may need to thrive in the operational technologies industry. These operational technologies market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The operational technologies market size has grown strongly in recent years. It will grow from $165.67 billion in 2023 to $182.06 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth observed during the historic period can be attributed to several factors, including the adoption of automation technologies, cybersecurity concerns, integration of IoT devices, digital transformation initiatives, and aging infrastructure.

The operational technologies market size is expected to see rapid growth in the next few years. It will grow to $268.42 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The anticipated growth in the forecast period can be attributed to several factors, including the growing adoption of edge computing, deployment of 5G networks, continued emphasis on remote access solutions, increasing focus on sustainability initiatives, and enhancing supply chain resilience. Major trends expected during the forecast period include the development and adoption of standardized protocols, the rise of digital twins, greater utilization of predictive analytics, increased reliance on open-source technologies, and a shift towards human-centric design principles.

A surge in energy demand is anticipated to drive the expansion of the operational technologies market in the foreseeable future. Energy, essential for operating machinery, equipment, and processes crucial to manufacturing, production, and operational activities, is witnessing increased demand due to factors such as population growth, urbanization, industrialization, economic development, and technological advancements. Operational technologies play a pivotal role in modernizing the energy industry, enhancing efficiency, reliability, and sustainability by optimizing operations, integrating renewable energy sources, and fortifying grid resilience to meet evolving market demands. For instance, in July 2021, the International Energy Agency (IEA) reported a global electricity demand increase of nearly 5% in 2021 and approximately 4% in 2022. Consequently, the rising energy demand is fueling growth in the operational technologies market.

Key players in the operational technologies market are innovating with solutions such as industrial edge solutions to cater to evolving enterprise needs and gain a competitive edge. Industrial edge solutions involve deploying computing infrastructure in close proximity to industrial assets for real-time data processing, thereby enhancing operational efficiency and enabling advanced control functionalities. For example, in October 2021, Nokia launched the MX Industrial Edge, an off-the-shelf solution designed for Industry 4.0 applications. This solution integrates high-compute capacity and security with scalability to accelerate enterprises' digitalization journeys in operational technology. It combines computing power, storage, wired and wireless networking, one-click industrial applications, and automated management into a single on-premise platform, simplifying edge requirements for operational technology (OT) digital transformation.

In May 2021, Accenture plc acquired Electro 80 to strengthen its digital operational technology (OT) offerings for Australia's resource sector. Electro 80, based in Australia, specializes in providing operational technology solutions for resource clients, including mining and utility companies.

Major companies operating in the operational technologies market are Huawei Technologies Co., Ltd., General Electric Co, Accenture Corporation, IBM Corporation, Cisco Systems, Ernst & Young Global Limited, Oracle, Schneider Electric SE, Honeywell International Inc., SAP SE, ABB Ltd, Thales Group, Emerson Electric Co., Wipro Limited, Rockwell Automation, Inc., Fortinet, Inc., Yokogawa Electric Corporation, Advantech Co., Ltd., Audubon Companies, Forcepoint LLC, Wunderlich-Malec Engineering, Inc., Gray Matter Systems LLC, iTSM Group, SCADAfence, NTT Ltd.

North America was the largest region in the operational technologies market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the operational technologies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the operational technologies market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The operational technologies market consists of revenues earned by entities by providing services such installation and deployment services, maintenance and support services, and training and education services. The market value includes the value of related goods sold by the service provider or included within the service offering The operational technologies market also includes sales of transmitters, industrial sensors, industrial valves, and actuators. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Operational Technologies Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on operational technologies market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
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Where is the largest and fastest growing market for operational technologies ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The operational technologies market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

Market segmentations break down the market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:1) By Component: Control Systems; Field Devices
2) By Technology: Wired; Wireless
3) By Vertical: Oil And Gas; Food And Beverages; Energy And Power; Automotive; Other Verticals
Companies Mentioned: Huawei Technologies Co., Ltd.; General Electric Co; Accenture Corporation; IBM Corporation; Cisco Systems
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Product Code: r17997

1. Executive Summary

2. Operational Technologies Market Characteristics

3. Operational Technologies Market Trends And Strategies

4. Operational Technologies Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Operational Technologies Market Size and Growth

5.1. Global Operational Technologies Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Operational Technologies Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Operational Technologies Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Operational Technologies Market Segmentation

6.1. Global Operational Technologies Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Control Systems
Field Devices
6.2. Global Operational Technologies Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Wired
Wireless
6.3. Global Operational Technologies Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Oil And Gas
Food And Beverages
Energy And Power
Automotive
Other Verticals

7. Operational Technologies Market Regional And Country Analysis

7.1. Global Operational Technologies Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Operational Technologies Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Operational Technologies Market

8.1. Asia-Pacific Operational Technologies Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Operational Technologies Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Operational Technologies Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Operational Technologies Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Operational Technologies Market

9.1. China Operational Technologies Market Overview
9.2. China Operational Technologies Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Operational Technologies Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Operational Technologies Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Operational Technologies Market

10.1. India Operational Technologies Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Operational Technologies Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Operational Technologies Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Operational Technologies Market

11.1. Japan Operational Technologies Market Overview
11.2. Japan Operational Technologies Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Operational Technologies Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Operational Technologies Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Operational Technologies Market

12.1. Australia Operational Technologies Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Operational Technologies Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Operational Technologies Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Operational Technologies Market

13.1. Indonesia Operational Technologies Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Operational Technologies Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Operational Technologies Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Operational Technologies Market

14.1. South Korea Operational Technologies Market Overview
14.2. South Korea Operational Technologies Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Operational Technologies Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Operational Technologies Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Operational Technologies Market

15.1. Western Europe Operational Technologies Market Overview
15.2. Western Europe Operational Technologies Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Operational Technologies Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Operational Technologies Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Operational Technologies Market

16.1. UK Operational Technologies Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Operational Technologies Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Operational Technologies Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Operational Technologies Market

17.1. Germany Operational Technologies Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Operational Technologies Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Operational Technologies Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Operational Technologies Market

18.1. France Operational Technologies Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Operational Technologies Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Operational Technologies Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Operational Technologies Market

19.1. Italy Operational Technologies Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Operational Technologies Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Operational Technologies Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Operational Technologies Market

20.1. Spain Operational Technologies Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Operational Technologies Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Operational Technologies Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Operational Technologies Market

21.1. Eastern Europe Operational Technologies Market Overview
21.2. Eastern Europe Operational Technologies Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Operational Technologies Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Operational Technologies Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Operational Technologies Market

22.1. Russia Operational Technologies Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Operational Technologies Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Operational Technologies Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Operational Technologies Market

23.1. North America Operational Technologies Market Overview
23.2. North America Operational Technologies Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Operational Technologies Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Operational Technologies Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Operational Technologies Market

24.1. USA Operational Technologies Market Overview
24.2. USA Operational Technologies Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Operational Technologies Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Operational Technologies Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Operational Technologies Market

25.1. Canada Operational Technologies Market Overview
25.2. Canada Operational Technologies Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Operational Technologies Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Operational Technologies Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Operational Technologies Market

26.1. South America Operational Technologies Market Overview
26.2. South America Operational Technologies Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Operational Technologies Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Operational Technologies Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Operational Technologies Market

27.1. Brazil Operational Technologies Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Operational Technologies Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Operational Technologies Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Operational Technologies Market

28.1. Middle East Operational Technologies Market Overview
28.2. Middle East Operational Technologies Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Operational Technologies Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Operational Technologies Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Operational Technologies Market

29.1. Africa Operational Technologies Market Overview
29.2. Africa Operational Technologies Market, Segmentation By Component, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Operational Technologies Market, Segmentation By Technology, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Operational Technologies Market, Segmentation By Vertical, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Operational Technologies Market Competitive Landscape And Company Profiles

30.1. Operational Technologies Market Competitive Landscape
30.2. Operational Technologies Market Company Profiles
- 30.2.1. Huawei Technologies Co., Ltd.
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. General Electric Co
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. Accenture Corporation
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. IBM Corporation
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Cisco Systems
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Operational Technologies Market Other Major And Innovative Companies

31.1. Ernst & Young Global Limited
31.2. Oracle
31.3. Schneider Electric SE
31.4. Honeywell International Inc.
31.5. SAP SE
31.6. ABB Ltd
31.7. Thales Group
31.8. Emerson Electric Co.
31.9. Wipro Limited
31.10. Rockwell Automation, Inc.
31.11. Fortinet, Inc.
31.12. Yokogawa Electric Corporation
31.13. Advantech Co., Ltd.
31.14. Audubon Companies
31.15. Forcepoint LLC

32. Global Operational Technologies Market Competitive Benchmarking

33. Global Operational Technologies Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Operational Technologies Market

35. Operational Technologies Market Future Outlook and Potential Analysis

35.1 Operational Technologies Market In 2028 - Countries Offering Most New Opportunities
35.2 Operational Technologies Market In 2028 - Segments Offering Most New Opportunities
35.3 Operational Technologies Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer