JERSEY CITY, N.J., Aug. 18, 2022 (GLOBE NEWSWIRE) — Verified Market Research recently released the following report:operational technology marketBy Component (Human Machine Interface, Control Systems), By Network Technology (Wired, Wireless), By End-Use Industry (Process Industry, Discrete Industry), By Geography. According to Verified Market Research, the operational technology market will be valued at US$142.02 billion in 2022 and is projected to reach US$259.86 billion by 2030, growing at a CAGR of 7.23% from 2023 to 2030. increase.
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Global Operational Technology Market Overview
Increasing demand for operational technology from end-use industries is one of the key factors expected to drive market growth during the forecast period. Rising support from various governments for IT innovation in many countries is expected to offer great potential opportunities for the key players of the market during the forecast period. Governments around the world are taking initiatives and funding many industries to explore and consolidate operational technology.
Companies from developed countries are moving their manufacturing and production plants to developing countries such as China, India and Brazil. This is primarily due to the low cost of manufacturing and the ready availability of labor. These developments have increased the demand for technologies such as operational technologies to monitor, manage and control processes and assets in developing countries. However, high cost of operational technology related software and hardware is one of the key factors that may hamper the market growth during the forecast period.
Main development
- In January 2022, ABB and Red Hat announced a partnership to deliver ABB automation and industrial software solutions at the intersection of operational technology (OT) and information technology (IT), expanding deployment capabilities into the industrial ecosystem. and improved agility.
- In July 2022, Rockwell Automation Inc. announced a partnership with Dragos to help industrial organizations prepare for, respond to, and recover from cyber incidents in their operational technology (OT) environments. Improved preparation.
main player
Major players in the market are Siemens, ABB, Schneider Electric, Honeywell International Inc., IBM, Rockwell Automation, Emerson Electric Co., General Electric, Advantech Co., Ltd., SCADAfence.
Validated market research has segmented the global operational technology market based on component, network technology, end-use industry, and geography.
- Operational Technology Market by Component
- human machine interface
- control system
- Operational technology market by network technology
- Operational Technology Market by End-Use Industry
- process industry
- Discrete industry
- Operational Technology Market by Region
- North America
- Europe
- Germany
- France
- England
- rest of europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- line
- Middle East and Africa
- latin america
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