Operational Technology Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028F Segmented By Component (Human Machine Interface (Industrial Valves, Transmitters, Industrial Sensors, Actuators), Control Systems (Supervisory Control and Data Acquisition (SCADA), Distributed Control Systems (DCS), Process Control Domain (PCD), Programmable Logic Controllers (PLC), Safety Instrumented Systems (SIS), Building Management/Automation Systems (BAS))), By Connectivity (Wired, Wireless), By Industry (Discrete (Automotive & Transportation, Aerospace & Defense, Furniture, Machine Manufacturing), Process (Energy and Utilities, Food & Beverage, Pharmaceuticals, Marine & Ports, Metals & Mining, Oil & Gas, Chemicals, Pulp & Paper, Others)), By Region and Competition

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Summary

Report Description

Global operational technology market is predicted to proliferate during the forecast period due to the growing adoption of internet of things (IoT) in supply chains by enterprises to meet the need for growing business. Globally vendors are making significant product innovations by integrating technologies such as artificial intelligence (AI), Internet of Things (IoT), machine learning (ML) to cater to customer needs and market requirements. It gives businesses the opportunity to track assets and secure data while enhancing performance, dependability, and scalability. Operational technology enables controlling, monitoring equipment and maintenance of assets, machines, and systems for organizations across various industries. Additionally, to maintain high business continuity and maximize connectivity, enterprises are increasingly considering more reliable and secure solutions. The systematic integration of digital technologies in industrial systems with cloud computing, enhanced internet connectivity and rise in Information, Communication, and Technology (ICT) expenditure by governments in several developed and developing regions, including North America, Europe, and Asia-Pacific are expected to enhance the features of operational technology. This, in turn, is expected to drive market growth during the forecast period. Operational technology (OT) is the practice of using hardware and software to monitor and manage physical operations, devices, and infrastructure. Many asset-intensive industries use operational technology systems to fulfil a variety of duties, from monitoring critical infrastructure (CI) to managing robots on a production line. Manufacturing, oil and gas, electrical generation and distribution, aviation, maritime, rail, and utilities are the few sectors that employ OT. In addition, operational technology solutions are a combination of technologies and processes that centrally consolidate tracking, monitoring, and diagnostics for asset-intensive sectors to enable them to monitor assets and increase operational efficiency.

Operational technology is expected to become more essential, as more businesses explore giving their employees either a fully virtual working environment or hybrid that blends virtual and in-office working environments. Operational technology enables organizations with real-time update that helps make an important decision. Moreover, several other benefits such as asset theft, increasing asset efficiency, reducing maintenance cost, increasing lifespan asset, and minimizing sudden failure are enabling enterprises to adopt the operational technology.

Furthermore, the use of operational technology enables organizations by maximizing asset utilization, return on investment, remote monitoring, and maintenance of assets, etc. The main goal is to increase throughput, asset utilization, and return on investment and make sure that these assets are safe and being used appropriately. Tracking the location of assets, getting alerts when repair is required, and remotely controlling operating parameters are functions that operational technology solutions may offer. Real-time location systems (RTLS), analytics and reporting, asset performance management (APM), asset condition monitoring (ACM), preventive maintenance, surveillance and security, and network bandwidth management are some of the products which integrate operation technology to enhance the asset utilization.

Increasing use of Predictive Maintenance to Boost the Adoption of Operational Technology

The current surge of digital innovation, remote work, and cloud usage has increased the demand for operational technology with security, which has caused businesses to re-evaluate their network architecture. Operational technology is becoming increasingly popular among organizations that are eager to embrace digital transformation. Manufacturers worldwide are looking for solutions and measures to optimize their operations and improve efficiency.

By utilizing predictive maintenance, manufacturers are lowering the maintenance expenses and decreasing production time. Predictive maintenance application equips the organization with the capabilities to predict asset failure or any quality related issues in the equipment. Predictive maintenance can optimize asset management and reduce costs from unexpected downtime. This has provided the edge for applications performance and offers high-quality user experience which has contributed to the growth in business productivity, agility and control the IT costs.

Moreover, predictive maintenance and asset management applications assist companies to deal with unexpected downtime, improving the overall efficiency of the operations and following the regulations and compliance. All these factors have resulted in the high adoption of predictive maintenance and operational technology systems such as (SCADA) Supervisory Control and Data Acquisition and many more in the industrial setting. Furthermore, operational technology helps with physical access protection, secure management of key material, enhance the overall equipment effectiveness (OEE) by improving the production quality, performance, and availability of manufacturing operations making it possible to immediately identify a security assault. Therefore, increasing use of predictive maintenance to boost the adoption of operational technology is expected to grow the global operational technology market in the forecasting period.

The Growing Adoption of Internet of Things in Supply Chains Proliferating Growth

The supply chain and trade has become an essential component in today’s business reciprocation. The gradual but steady adoption of different technologies including Internet of Things (IoT) in Industry 4.0 (I4.0) is now a prominent area to identify ways for industries to operate their functions. The collaboration between suppliers, manufacturers and customers is very important to enable transparency throughout the order processing stages and product lifecycle. The adoption of Internet of Things (IoT) in supply chain is rapidly growing as many enterprises are heavily relying on industry 4.0 and technological advancement. Most industrial organizations are increasingly deploying IoT technology for improving their supply chain management.

Operational Technology software allows logistics and supply chain enterprises to manage risk, reduce warehouse costs, remotely track assets, keep accurate records, etc. Lack of visibility has always been a roadblock for asset intensive enterprises in manufacturing, retail, oil and gas, construction, manufacturing, and transportation. Moreover, the risk of cyber-attacks has increased significantly. IIoT devices and sensors that are used in critical infrastructure sectors are often vulnerable to cyber-attacks, which can result in operational downtime, physical damage, and even loss of life. With a highly disseminated asset infrastructure, it is imperative to have end-to-end visibility and monitoring of the value chain. Therefore, many enterprises are integrating IoT based solutions such as asset tracking and industrial sensors. These solutions offer real-time approach during supply chain process by achieving greater utilization of assets and increasing operational efficiency in the field. Furthermore, the enablement in supply chain is enabling enterprise with monitoring remotely and track reusable supply chain assets. Thus, the growing adoption of the internet of things in supply chains are driving the growth of global operational technology market in the forecast period.

The Increasing number of cloud-based solutions to Propel Growth of Market

With the growing benefits of integrating cloud services, the enterprises are rapidly adopting cloud-based solutions into their infrastructure. Technology is helping in delivering an effective cloud connection to the network. Cloud-based asset management solutions provide several benefits for businesses of all sizes and in all industries. Operational technology enables businesses to track their assets and inventory in real-time and take advantage of cloud service deployment without having to host and manage on-premises machines. In addition, due to the increasing number of cloud-based solutions, the requirements are changing with the widespread adoption of cloud services that are connected over the internet.

As cloud services connected through the internet become more and more popular, the need for effective cloud based operational technology solutions is evolving and gaining popularity for controlling and monitoring industrial equipment. In practice, companies are compelled to rely more heavily on the cloud to properly manage the life cycle of many businesses that need to manage large and complex portfolios by supporting their cloud-based applications. The number of individuals utilizing the internet has increased, as a result the demand for cloud-based services is rising. Operational technology has greater options because of the usage of cloud-based services, which leads to implementation of hybrid cloud strategy to provide extra capacity, resilience, and scalability. Therefore, the increasing number of cloud-based solutions are attributed to the growth of global operational technology market in the forecast period.

Recent Advancements

·    On March 11, 2023, Tenable unveiled new features for Tenable OT Security, extending protection for industrial control systems, critical infrastructure, and operational technology (OT) independent of deployment size or environment configuration. With the upgrade to the OT active scanner and a stronger interaction with Nessus, Tenable's market-leading vulnerability scanning technology, this most recent version increases Tenable OT Security's vulnerability detection capabilities even further.

·       On March 07, 2023, Optiv, a cyber advisory and solutions leader firm announced a suite of operational technology services advancing End-to-End OT protection in the Cybersecurity market. Additionally, OT/ICS clients can relieve their internal security teams of operational duties by using managed security services from Optiv, which are tailored to each client's particular business requirements. These might include continuous technology configuration and optimization in OT alert triaging, technology management, and Optiv's OT SOC and Advanced Fusion Centre, as well as real-time threat detection and response, platform patching, device maintenance, and real-time alert triaging.

·     On March 01, 2023, Fortinet Inc., a cybersecurity firm announced the strengthening of products and services for operational technology environments as an extension of its Security Fabric for OT. The enhancement will offer better protection for operational technology environments including improving visibility and real-time response across the entire attack surface. The new tools enable security operations center personnel to respond faster to incidents in factories, plants, distant sites, and in vehicles by increasing their effectiveness and efficiency.

Market Segmentation

The global operational technology market is segmented based on component, connectivity, and industry. Based on component, the market is segmented into human machine interface and control systems. Based on human machine interface, the market is further segmented into industrial valves, transmitters, industrial sensors, and actuators. Based on control systems, the market is further divided into supervisory control and data acquisition (SCADA), distributed control systems (DCS), process control domain (PCD), programmable logic controllers (PLC), safety instrumented systems (SIS), building management/automation systems (BAS). Based on connectivity, the market is segmented into wired and wireless. Based on industry, the market is segmented into discrete and process. The discrete segment is split into automotive & transportation, aerospace & defense, furniture, and machine manufacturing. The process segment is further split into energy & utilities, food & beverage, pharmaceuticals, marine & ports, metals & mining, oil & gas, chemicals, pulp & paper, and others.

Company Profiles

Siemens Corporation, ABB Ltd., General Electric Company, Honeywell International Inc., Schneider Electric SE, Emerson Electric Co., IBM Corporation, Oracle Corporation, Rockwell Automation, Inc., and Yokogawa Electric Corporation are among the major players that are driving the growth of the global operational technology market.


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Attribute

Details

Base Year

2022

Historical Years

2018 – 2021

Estimated Year

2023

Forecast Period

2024 – 2028

Quantitative Units

Revenue in USD Billion and CAGR for 2018-2022 and 2023E-2028F

Report Coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Segments Covered

By Component

By Connectivity

By Industry

By Region

Regional Scope

Asia-Pacific, North America, Europe, Middle East & Africa, and South America

Country Scope

China, Japan, India, Australia, South Korea, United States, Canada, Mexico, United Kingdom, Germany, France, Spain, Italy, Israel, Qatar, Saudi Arabia, UAE, Brazil, Argentina, Colombia

Key Companies Profiled

Siemens Corporation, ABB Ltd., General Electric Company, Honeywell International Inc., Schneider Electric SE, Emerson Electric Co., IBM Corporation, Oracle Corporation, Rockwell Automation, Inc., Yokogawa Electric Corporation

Customization Scope

10% free report customization with purchase. Addition or alteration to country, regional & segment scope.

Pricing and Purchase Options

Avail of customized purchase options to meet your exact research needs. Explore purchase options

Delivery Format

PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request)

 

Report Scope:

In this report, the global operational technology market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Operational Technology Market, By Component:
    • Human Machine Interface
      • Industrial Valves
      • Transmitters
      • Industrial Sensors
      • Actuators
    • Control Systems
      • Supervisory Control and Data Acquisition (SCADA)
      • Distributed Control Systems (DCS)
      • Process Control Domain (PCD)
      • Programmable Logic Controllers (PLC)
      • Safety Instrumented Systems (SIS)
      • Building Management/Automation Systems (BAS)
  • Operational Technology Market, By Connectivity:
    • Wired
    • Wireless
  • Operational Technology Market, By Industry:
    • Discrete
      • Automotive & Transportation
      • Aerospace & Defense
      • Furniture
      • Machine Manufacturing
    • Process
      • Energy & Utilities
      • Food & Beverage
      • Pharmaceuticals
      • Marine & Ports
      • Metals & Mining
      • Oil & Gas
      • Chemicals
      • Pulp & Paper
      • Others
  • Operational Technology Market, By Region:
    • Asia-Pacific
      • China
      • Japan
      • India
      • Australia
      • South Korea
    • North America
      • United States
      • Canada
      • Mexico
    • Europe
      • United Kingdom
      • Germany
      • France
      • Spain
      • Italy
    • Middle East & Africa
      • Israel
      • Qatar
      • Saudi Arabia
      • UAE
    • South America
      • Brazil
      • Argentina
      • Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the global operational technology market.

Available Customizations:

With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:

Company Information

Detailed analysis and profiling of additional market players (up to five).

Operational Technology Market is an upcoming report to be released soon. If you wish an early delivery of this report or want to confirm the date of release, please contact us at [email protected]               

Table of content

1.    Product Overview

1.1.  Market Definition

1.2.  Scope of the Market

1.2.1.    Markets Covered

1.2.2.    Years Considered for Study

1.2.3.    Key Market Segmentations

2.    Research Methodology

3.    Executive Summary

4.    Voice of Customer

5.    Global Operational Technology Market Outlook

5.1.  Market Size & Forecast

5.1.1.    By Value

5.2.  Market Share & Forecast

5.2.1.    By Component (Human-Machine Interface, Control Systems)

5.2.1.1.        By Human-Machine Interface (Industrial Valves, Transmitters, Industrial Sensors, Actuators)

5.2.1.2.        By Control Systems (Supervisory Control and Data Acquisition (SCADA), Distributed Control Systems (DCS), Process Control Domain (PCD), Programmable Logic Controllers (PLC), Safety Instrumented Systems (SIS), Building Management/Automation Systems (BAS))

5.2.2.    By Connectivity (Wired, Wireless)

5.2.3.    By Industry (Discrete, Process)

5.2.3.1.        By Discrete (Automotive and Transportation, Aerospace & Defense, Furniture, Machine Manufacturing)

5.2.3.2.        By Process (Energy and Utilities, Food and Beverage, Pharmaceuticals, Marine and Ports, Metals and Mining, Oil & Gas, Chemicals, Pulp and Paper, Others)

5.2.4.    By Region

5.3.  By Company (2022)

5.4.  Market Map

6.    North America Operational Technology Market Outlook

6.1.  Market Size & Forecast

6.1.1.    By Value

6.2.  Market Share & Forecast

6.2.1.    By Component

6.2.2.    By Connectivity

6.2.3.    By Industry

6.2.4.    By Country

6.3.  North America: Country Analysis

6.3.1.    United States Operational Technology Market Outlook

6.3.1.1.        Market Size & Forecast

6.3.1.1.1.           By Value 

6.3.1.2.        Market Share & Forecast

6.3.1.2.1.           By Component

6.3.1.2.2.           By Connectivity

6.3.1.2.3.           By Industry

6.3.2.    Canada Operational Technology Market Outlook

6.3.2.1.        Market Size & Forecast

6.3.2.1.1.           By Value 

6.3.2.2.        Market Share & Forecast

6.3.2.2.1.           By Component

6.3.2.2.2.           By Connectivity

6.3.2.2.3.           By Industry

6.3.3.    Mexico Operational Technology Market Outlook

6.3.3.1.        Market Size & Forecast

6.3.3.1.1.           By Value 

6.3.3.2.        Market Share & Forecast

6.3.3.2.1.           By Component

6.3.3.2.2.           By Connectivity

6.3.3.2.3.           By Industry

7.    Asia-Pacific Operational Technology Market Outlook

7.1.  Market Size & Forecast

7.1.1.    By Value

7.2.  Market Share & Forecast

7.2.1.    By Component

7.2.2.    By Connectivity

7.2.3.    By Industry

7.2.4.    By Country

7.3.  Asia-Pacific: Country Analysis

7.3.1.    China Operational Technology Market Outlook

7.3.1.1.        Market Size & Forecast

7.3.1.1.1.           By Value 

7.3.1.2.        Market Share & Forecast

7.3.1.2.1.           By Component

7.3.1.2.2.           By Connectivity

7.3.1.2.3.           By Industry

7.3.2.    Japan Operational Technology Market Outlook

7.3.2.1.        Market Size & Forecast

7.3.2.1.1.           By Value 

7.3.2.2.        Market Share & Forecast

7.3.2.2.1.           By Component

7.3.2.2.2.           By Connectivity

7.3.2.2.3.           By Industry

7.3.3.    South Korea Operational Technology Market Outlook

7.3.3.1.        Market Size & Forecast

7.3.3.1.1.           By Value 

7.3.3.2.        Market Share & Forecast

7.3.3.2.1.           By Component

7.3.3.2.2.           By Connectivity

7.3.3.2.3.           By Industry

7.3.4.    India Operational Technology Market Outlook

7.3.4.1.        Market Size & Forecast

7.3.4.1.1.           By Value 

7.3.4.2.        Market Share & Forecast

7.3.4.2.1.           By Component

7.3.4.2.2.           By Connectivity

7.3.4.2.3.           By Industry

7.3.5.    Australia Operational Technology Market Outlook

7.3.5.1.        Market Size & Forecast

7.3.5.1.1.           By Value 

7.3.5.2.        Market Share & Forecast

7.3.5.2.1.           By Component

7.3.5.2.2.           By Connectivity

7.3.5.2.3.           By Industry

8.    Europe Operational Technology Market Outlook

8.1.  Market Size & Forecast

8.1.1.    By Value

8.2.  Market Share & Forecast

8.2.1.    By Component

8.2.2.    By Connectivity

8.2.3.    By Industry

8.2.4.    By Country

8.3.  Europe: Country Analysis

8.3.1.    Germany Operational Technology Market Outlook

8.3.1.1.        Market Size & Forecast

8.3.1.1.1.           By Value 

8.3.1.2.        Market Share & Forecast

8.3.1.2.1.           By Component

8.3.1.2.2.           By Connectivity

8.3.1.2.3.           By Industry

8.3.2.    United Kingdom Operational Technology Market Outlook

8.3.2.1.        Market Size & Forecast

8.3.2.1.1.           By Value 

8.3.2.2.        Market Share & Forecast

8.3.2.2.1.           By Component

8.3.2.2.2.           By Connectivity

8.3.2.2.3.           By Industry

8.3.3.    France Operational Technology Market Outlook

8.3.3.1.        Market Size & Forecast

8.3.3.1.1.           By Value 

8.3.3.2.        Market Share & Forecast

8.3.3.2.1.           By Component

8.3.3.2.2.           By Connectivity

8.3.3.2.3.           By Industry

8.3.4.    Italy Operational Technology Market Outlook

8.3.4.1.        Market Size & Forecast

8.3.4.1.1.           By Value 

8.3.4.2.        Market Share & Forecast

8.3.4.2.1.           By Component

8.3.4.2.2.           By Connectivity

8.3.4.2.3.           By Industry

8.3.5.    Spain Operational Technology Market Outlook

8.3.5.1.        Market Size & Forecast

8.3.5.1.1.           By Value 

8.3.5.2.        Market Share & Forecast

8.3.5.2.1.           By Component

8.3.5.2.2.           By Connectivity

8.3.5.2.3.           By Industry

9.    South America Operational Technology Market Outlook

9.1.  Market Size & Forecast

9.1.1.    By Value

9.2.  Market Share & Forecast

9.2.1.    By Component

9.2.2.    By Connectivity

9.2.3.    By Industry

9.2.4.    By Country

9.3.  South America: Country Analysis

9.3.1.    Brazil Operational Technology Market Outlook

9.3.1.1.        Market Size & Forecast

9.3.1.1.1.           By Value 

9.3.1.2.        Market Share & Forecast

9.3.1.2.1.           By Component

9.3.1.2.2.           By Connectivity

9.3.1.2.3.           By Industry

9.3.2.    Argentina Operational Technology Market Outlook

9.3.2.1.        Market Size & Forecast

9.3.2.1.1.           By Value 

9.3.2.2.        Market Share & Forecast

9.3.2.2.1.           By Component

9.3.2.2.2.           By Connectivity

9.3.2.2.3.           By Industry

9.3.3.    Colombia Operational Technology Market Outlook

9.3.3.1.        Market Size & Forecast

9.3.3.1.1.           By Value 

9.3.3.2.        Market Share & Forecast

9.3.3.2.1.           By Component

9.3.3.2.2.           By Connectivity

9.3.3.2.3.           By Industry

10. Middle East & Africa Operational Technology Market Outlook

10.1.             Market Size & Forecast

10.1.1. By Value

10.2.             Market Share & Forecast

10.2.1. By Component

10.2.2. By Connectivity

10.2.3. By Industry

10.2.4. By Country

10.3.             Middle East & Africa: Country Analysis

10.3.1. Israel Operational Technology Market Outlook

10.3.1.1.     Market Size & Forecast

10.3.1.1.1.         By Value 

10.3.1.2.     Market Share & Forecast

10.3.1.2.1.         By Component

10.3.1.2.2.         By Connectivity

10.3.1.2.3.         By Industry

10.3.2. Qatar Operational Technology Market Outlook

10.3.2.1.     Market Size & Forecast

10.3.2.1.1.         By Value 

10.3.2.2.     Market Share & Forecast

10.3.2.2.1.         By Component

10.3.2.2.2.         By Connectivity

10.3.2.2.3.         By Industry

10.3.3. UAE Operational Technology Market Outlook

10.3.3.1.     Market Size & Forecast

10.3.3.1.1.         By Value 

10.3.3.2.     Market Share & Forecast

10.3.3.2.1.         By Component

10.3.3.2.2.         By Connectivity

10.3.3.2.3.         By Industry

10.3.4. Saudi Arabia Operational Technology Market Outlook

10.3.4.1.     Market Size & Forecast

10.3.4.1.1.         By Value 

10.3.4.2.     Market Share & Forecast

10.3.4.2.1.         By Component

10.3.4.2.2.         By Connectivity

10.3.4.2.3.         By Industry

11. Market Dynamics

11.1.             Drivers

11.2.             Challenges

12. Market Trends & Developments

13. Company Profiles

13.1.              Siemens Corporation

13.1.1.    Business Overview

13.1.2.    Key Revenue/Financials

13.1.3.    Recent Developments

13.1.4.    Key Personnel

13.1.5.    Key Product/Service Offered

13.2.                ABB Ltd.

13.2.1.    Business Overview

13.2.2.    Key Revenue/Financials

13.2.3.    Recent Developments

13.2.4.    Key Personnel

13.2.5.    Key Product/Service Offered

13.3.                General Electric Company

13.3.1.    Business Overview

13.3.2.    Key Revenue/Financials

13.3.3.    Recent Developments

13.3.4.    Key Personnel

13.3.5.    Key Product/Service Offered

13.4.                Honeywell International Inc.

13.4.1.    Business Overview

13.4.2.    Key Revenue/Financials

13.4.3.    Recent Developments

13.4.4.    Key Personnel

13.4.5.    Key Product/Service Offered

13.5.                Schneider Electric SE

13.5.1.    Business Overview

13.5.2.    Key Revenue/Financials

13.5.3.    Recent Developments

13.5.4.    Key Personnel

13.5.5.    Key Product/Service Offered

13.6.                Emerson Electric Co.

13.6.1.    Business Overview

13.6.2.    Key Revenue/Financials

13.6.3.    Recent Developments

13.6.4.    Key Personnel

13.6.5.    Key Product/Service Offered

13.7.                IBM Corporation

13.7.1.    Business Overview

13.7.2.    Key Revenue/Financials

13.7.3.    Recent Developments

13.7.4.    Key Personnel

13.7.5.    Key Product/Service Offered

13.8.                Oracle Corporation

13.8.1.    Business Overview

13.8.2.    Key Revenue/Financials

13.8.3.    Recent Developments

13.8.4.    Key Personnel

13.8.5.    Key Product/Service Offered

13.9.                Rockwell Automation, Inc.

13.9.1.    Business Overview

13.9.2.    Key Revenue/Financials

13.9.3.    Recent Developments

13.9.4.    Key Personnel

13.9.5.    Key Product/Service Offered

13.10.          Yokogawa Electric Corporation

13.10.1. Business Overview

13.10.2. Key Revenue/Financials

13.10.3. Recent Developments

13.10.4. Key Personnel

13.10.5. Key Product/Service Offered

14. Strategic Recommendations

15. About Us & Disclaimer

(Note: The companies list can be customized based on the client requirements.)

Figures and Tables

Frequently asked questions

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Key players in the market are Siemens Corporation, ABB Ltd., General Electric Company, Honeywell International Inc., Schneider Electric SE, Emerson Electric Co., IBM Corporation, Oracle Corporation, Rockwell Automation, Inc., Yokogawa Electric Corporation and others.

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The operational technology solutions are a combination of technologies and processes that centrally consolidate tracking, monitoring, and diagnostics for asset-intensive sectors to enable them to monitor assets and increase operational efficiency.

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The implementation of operational technology services has advantages that allow businesses to reduce overall maintenance costs via predictive maintenance, schedule, and plan maintenance proactively, automate equipment alerts and communication, and aids in ensure regulatory compliance.

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The increasing use of predictive maintenance, growing adoption of internet of things in supply chains and increased number of cloud-based solution are expected to be the main drivers for the growth of the global operational technology market during the forecast period.

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Sakshi Bajaal

Business Consultant
Press Release

Operational Technology Market is led by Increasing Popularity of Controlling and Monitoring Equipment

Oct, 2023

Increasing use of predictive maintenance is driving the implementation of the operational technology market across the globe.

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