Global Operational Technologies Market By Component, By Networking Technology, By Industry, By Region: Global & Segmental Insights, Trends and Forecasts, 2023 – 2031
- Industry: Semiconductors & Electronics
- Report ID: TNR-110-995
- Number of Pages: 420
- Table/Charts : Yes
- November, 2023
- Base Year : 2024
- No. of Companies : 10+
- No. of Countries : 29
- Views : 10193
- Covid Impact Covered: Yes
- War Impact Covered: Yes
- Formats : PDF, Excel, PPT
Global Operational Technologies Market Recorded Revenue Worth US$ 151.26 Billion in 2022, Growing at an Estimated CAGR of 6.2% from 2023-2031.
Operational Technologies refer to the specialized hardware and software systems used to manage and control physical processes in industries such as manufacturing, energy, and utilities. Unlike Information Technologies (IT), which handles data and communication, operational technology focuses on real-time control, monitoring, and automation of machinery, equipment, and processes. Operational technologies often involve industrial control systems (ICS), supervisory control and data acquisition (SCADA) systems, and programmable logic controllers (PLCs). The integration of operational technology with IT, known as the Industrial Internet of Things (IIoT), enhances efficiency, data analysis, and decision-making within industrial operations.
Wired networking technology, often using Ethernet cables, has been a longstanding and reliable choice for connecting devices within industrial settings. It offers stable and high-speed connections, making it suitable for applications where consistent and low-latency communication is essential. While it might not experience explosive growth like wireless technology, wired networking remains a dominant choice in industries where reliability and security are paramount.
COVID-19 Impact Analysis on Global Operational Technologies Market
Before the COVID-19 pandemic, the operational technologies market was steadily evolving, with a focus on automation, efficiency, and connectivity. Industries were gradually adopting advanced operational technologies like control systems and sensors to optimize processes and enhance productivity. However, the pandemic acted as a catalyst for change. The immediate need for remote monitoring, touchless operations, and resilient supply chains accelerated the adoption of operational technologies. This shift highlighted the significance of wireless networking technology and the Industrial Internet of Things (IIoT), allowing industries to adapt to disruptions. Post-COVID-19, the operational technologies market continues to grow as organizations prioritize digital transformation, real-time data insights, and agile operational strategies to navigate uncertainties and future challenges.
Global Operational Technologies Market Revenue & Forecast, (US$ Million), 2015 – 2031
The integration of Industry 4.0 principles is a significant driver for the operational technologies market. Industries are increasingly embracing smart manufacturing and automation to enhance efficiency and competitiveness. A survey found that 68% of manufacturers believed that Industry 4.0 technologies would significantly impact their operations. The seamless convergence of operational technologies and IT systems enables real-time data exchange, predictive maintenance, and agile decision-making. This integration optimizes production processes and reduces downtime. As a result, the demand for operational technologies solutions such as advanced control systems and industrial IoT platforms continues to rise.
Security remains a crucial restraint in the operational technologies market. The increased connectivity of industrial systems exposes vulnerabilities to cyber threats. According to a survey by 47% of industrial organizations experienced at least one cybersecurity incident in 2020. The complex nature of operational technologies environments, often comprising legacy systems, poses challenges in implementing robust cybersecurity measures. Breaches can lead to operational disruptions, data breaches, and even safety hazards. Balancing connectivity with stringent cybersecurity measures is essential to ensure the reliability and integrity of operational technology systems, which can sometimes slow down the pace of adoption.
Process industries, which include sectors like chemicals, oil and gas, and food and beverage, dominate the operational technologies market. These industries require precise control and monitoring of continuous processes. Operational technologies, such as control systems and process optimization tools, are critical for maintaining efficiency and ensuring product quality. The process industry’s heavy reliance on automation, regulation, and optimization has made operational technologies a cornerstone of its operations.
North America accounted for ~45.4% the global operational technologies market in 2022. The region’s advanced industrial infrastructure and early adoption of automation and IT integration have contributed to its prominence. According to a survey, 68% of North American manufacturers have invested in smart factory initiatives. The presence of established industries such as automotive, aerospace and electronics has driven the demand for operational technologies like advanced control systems and industrial IoT platforms.
Competitive Landscape
Key players operating in the global operational technologies market are
- ABB
- Emerson Electric Co.
- Fuji Electric Co., Ltd.
- General Electric
- Hitachi, Ltd.
- HollySys Group Beijing
- Honeywell International Inc.
- IBM Corporation
- Mitsubishi Electric Corporation
- OMRON Corporation
- Oracle
- Rockwell Automation Inc.
- Schneider Electric
- Siemens
- Yokogawa Electric Corporation
- Other Industry Participants
Global Operational Technologies Market Key Insights
Report Specifications | Details |
Market Revenue in 2022 | US$ 151.26 Bn |
Market Size Forecast by 2031 | US$ 261.27 Bn |
Growth Rate (CAGR) | 6.2% |
Historic Data | 2015 – 2021 |
Base Year for Estimation | 2022 |
Forecast Period | 2023 – 2031 |
Report Inclusions | Market Size & Estimates, Market Dynamics, Competitive Scenario, Trends, Growth Factors, Market Determinants, Key Investment Segmentation, Product/Service/Solutions Benchmarking |
Segments Covered | By Component, By Networking Technology, By Industry |
Regions Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
Countries Covered | U.S., Canada, Mexico, Rest of North America, France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe, China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific, Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa, Brazil, Argentina, Rest of Latin America |
Key Players | ABB, Emerson Electric Co., Fuji Electric Co., Ltd., General Electric, Hitachi, Ltd., HollySys Group Beijing, Honeywell International Inc., IBM Corporation, Mitsubishi Electric Corporation, OMRON Corporation, Oracle, Rockwell Automation Inc., Schneider Electric, Siemens, Yokogawa Electric Corporation, Other Industry Participants |
Customization Scope | Customization allows for the inclusion/modification of content pertaining to geographical regions, countries, and specific market segments. |
Pricing & Procurement Options | Explore purchase options tailored to your specific research requirements |
Contact Details | Consult With Our Expert
Japan (Toll-Free): +81 663-386-8111 South Korea (Toll-Free): +82-808- 703-126 Saudi Arabia (Toll-Free): +966 800-850-1643 United Kingdom: +44 753-710-5080 United States: +1 302-232-5106 E-mail: askanexpert@thenicheresearch.com
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Global Operational Technologies Market:
By Component
- Field Instruments
-
- Industrial Valves
- Transmitters
- Pressure Transmitters
- Temperature Transmitters
- Level Transmitters
- Industrial Sensors
- Actuators
- Linear Actuators
- Rotary Actuators
- Control Systems
-
- Supervisory Control And Data Acquisition (SCADA)
- Plant Asset Management
- Distributed Control System (DCS)
- Human-Machine Interface (HMI)
- Manufacturing Execution System (MES)
- Warehouse Management System (WMS)
- Functional Safety
- Services
By Networking Technology
- Wired Networking Technology
-
- Profibus
- Modbus
- Profinet
- Ethernet/IP
- Others
- Wireless Networking Technology
-
- WLAN
- ISA100.11A
- Cellular
- ZigBee
- WHART
- Others
By Industry
- Process Industry
-
- Oil and Gas
- Chemicals
- Pharmaceuticals
- Metals and Mining
- Food and Beverages
- Energy and Power
- Pulp and Paper
- Others
- Discrete Industry
-
- Automotive
- Aerospace and Defense
- Semiconductor and Electronics
- Medical Devices
- Machine Manufacturing
- Others
By Region
- North America (U.S., Canada, Mexico, Rest of North America)
- Europe (France, The UK, Spain, Germany, Italy, Nordic Countries (Denmark, Finland, Iceland, Sweden, Norway), Benelux Union (Belgium, The Netherlands, Luxembourg), Rest of Europe
- Asia Pacific (China, Japan, India, New Zealand, Australia, South Korea, Southeast Asia (Indonesia, Thailand, Malaysia, Singapore, Rest of Southeast Asia), Rest of Asia Pacific)
- Middle East & Africa (Saudi Arabia, UAE, Egypt, Kuwait, South Africa, Rest of Middle East & Africa)
- Latin America (Brazil, Argentina, Rest of Latin America)
Report Coverage and Deliverables
Table of Contents
Global Operational Technologies Market:
By Component
By Networking Technology
By Industry
By Region
**Note: The report covers cross-segmentation analysis by region further into countries
The Niche Research approach encompasses both primary and secondary research methods to provide comprehensive insights. While primary research is the cornerstone of our studies, we also incorporate secondary research sources such as company annual reports, premium industry databases, press releases, industry journals, and white papers.
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Our data collection primarily focuses on individual countries within our research scope, enabling us to estimate regional market sizes. Typically, we employ a bottom-up approach, meticulously tracking trends in different countries. We analyze growth drivers, constraints, technological innovations, and opportunities for each country, ultimately arriving at regional figures.Our process begins by examining the growth prospects of each country. Building upon these insights, we project growth and trends for the entire region. Finally, we utilize our proprietary model to refine estimations and forecasts.
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- Supply Side Analysis: We initiate a supply side analysis by directly contacting market participants, through telephonic interviews and questionnaires containing both open-ended and close-ended questions. We gather information on their portfolios, segment revenues, developments, and growth strategies.
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The forecasts we provide are based on a comprehensive assessment of various factors, including:
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- Historical Performance and Growth of Market Participants: We assess the historical performance and growth trajectories of key market participants. This analysis provides insights into the competitive landscape and individual company strategies.
- Market Determinants Impact Analysis (Next Eight Years): We conduct a rigorous analysis of the factors that are projected to influence the market over the next eight years. This includes assessing both internal and external determinants that can shape market dynamics.
- Drivers and Challenges for the Forecast Period:Identify the factors expected to drive market growth during the forecast period, as well as the challenges that the industry may face. This analysis aids in deriving an accurate growth rate projection.
- New Acquisitions, Collaborations, or Partnerships: We keep a close watch on any new acquisitions, collaborations, or partnerships within the industry. These developments can have a significant impact on market dynamics and competitiveness.
- Macro and Micro Factors Analysis:A thorough examination of both macro-level factors (e.g., economic trends, regulatory changes) and micro-level factors (e.g., technological advancements, consumer preferences) that may influence the market during the forecast period.
- End-User Sentiment Analysis: To understand the market from the end-user perspective, we conduct sentiment analysis. This involves assessing the sentiment, preferences, and feedback of the end-users, which can provide valuable insights into market trends.
- Perspective of Primary Participants: Insights gathered directly from primary research participants play a crucial role in shaping our forecasts. Their perspectives and experiences provide valuable qualitative data.
- Year-on-Year Growth Trend: We utilize a year-on-year growth trend based on historical market growth and expected future trends. This helps in formulating our growth projections, aligning them with the market’s historical performance.
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