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Operational Technology Market by Component (Field Devices, Control Systems, Services), Networking Technology (Wired Technology, Wireless Technology), End-User Industry, and Region - Global Forecast to 2022

LONDON, April 20, 2017 /PRNewswire/ -- "OT market expected to grow at a significant rate between 2017 and 2022"

The operational technology (OT) market is expected to grow at a CAGR of 6.7% between 2017 and 2022 and is expected to be worth at USD 40.42 billion by 2022. The key factors driving the growth of the OT market are the development strategies implemented by the players operating in the automation ecosystem, such as mergers and acquisitions, partnerships, and collaborations; increasing demand for industrialization in emerging economies; and evolution of IIoT with the increased communication and monitoring of machines. However, the major restraining factors for the growth of this market are supply chain disruptions, lack of efficient government initiatives, and so on.
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"SCADA systems expected to hold the largest share of the OT market based on control systems during the forecast period"

The supervisory control and data acquisition (SCADA) systems hold the largest share in the OT market for control systems. The acceleration in adoption of IoT has increased the use of connected devices, and the demand for automation will keep driving the market for control systems such as DCS and SCADA systems. The rapid demand for digital transformation has raised the requirements for control systems. Moreover, IIoT is urging the industries to automate their plant and their production process to gain a competitive edge over the peers. DCS provides the finest control for regulatory applications and is used for the integration of power measuring devices, drives, and soft starters.

"Wired technology expected to hold the largest share of the overall OT market in 2017"

Wired networks are safe and reliable, and hence they continue to be one of the most preferred technology in the industrial organizations. The wired networking technologies which are essential for establishing connectivity among the OT solutions are Industrial Ethernet, Modbus, PROFINET, Foundation Fieldbus, HART, and others (CAN, SDI, and CDE). These are widely used in the end-user industry across various process industries such as oil and gas, food and beverages, chemical, pharmaceutical, and others.

"OT market in North America expected to grow at the fastest rate during the forecast period"

The OT market in North America is expected to grow at the fastest rate between 2017 and 2022. North America is one of the key growth regions for the OT market. A significant number of technology providers as well as new start-up companies are offering their products and solutions to process as well as non-process industries through system integrators and IT service providers. Various industries such as food and beverages, oil and gas, and chemical functional in the region have significantly entered the market through partnerships and collaborations. This development has created a huge growth potential for the OT market in North America.

The break-up of the profiles of primary participants for the report has been given below.
• By Company Type: Tier 1 = 55%, Tier 2 = 30%, and Tier 3 = 15%
• By Designation: C-Level Executives = 50%, Directors = 25%, and Others = 25%
• By Region: North America = 35%, Europe = 25%, APAC = 30%, and RoW = 10%

The key players operating in the OT market are ABB (Switzerland), General Electric (US), Yokogawa Electric (Japan), Rockwell Automation (US), IBM (US), Oracle (US), SAP SE (Germany), Siemens AG (Germany), Emerson (US), Schneider Electric (France), Huawei Technologies (China), Accenture (US), and so on.

Research Coverage:
The research report on the OT market covers the market segmented on the basis of following segments: component, networking technology, end-user industry, and geography. The market has been segmented on the basis of components into field devices, control systems, and services.

On the basis of networking technology, the OT market has been classified into wired technology and wireless technology. The market has been segmented on the basis of end-user industry into the process (food and beverages, chemical, oil and gas, energy and power, metals and mining, and others including pulp and paper and pharmaceutical industries) and the non-process (aerospace and defense, automotive, medical, agriculture, and building) industries. The report covers the market based on four major regions: North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).

Key Benefits of Buying the Report:
- Illustrative segmentation, analysis, and forecast for the market based on component, networking technology, end-user industry, and geography have been conducted to give an overall view of the OT market.
- The value chain analysis is provided to provide an in-depth insight into the OT market.
- The major drivers, restraints, opportunities, and challenges for the OT market have been detailed in this report.
- The report includes a detailed competitive landscape, in-depth DIVE analysis, and revenue of the key players.
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/operational-technology-market-by-component-field-devices-control-systems-services-networking-technology-wired-technology-wireless-technology-end-user-industry-and-region---global-forecast-to-2022-300443178.html

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