Operational Technology Market

Market Leadership - Operational Technology Market

The global operational technology market was valued at USD 149.6 billion in 2022 and is projected to reach USD 216.3 billion by 2027; it is expected to grow at a CAGR of 6.5% from 2022 to 2027. The major drivers of the market include the surging adoption of Industry 4.0, rising emphasis on industrial automation in manufacturing processes, increasing government involvement in supporting industrial automation, growing emphasis on regulatory compliances, increasing complexities in the supply chain, and surging demand for software systems that reduce time and cost. The operational technology market has been segmented by component, networking technology, industry, and geography.

Major companies offering smart manufacturing technologies include ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Rockwell Automation (US), Honeywell International Inc. (US), Emerson Electric Co. (US), IBM (US), and General Electric (US). Many major companies focus on implementing organic growth strategies, such as product launches, and inorganic strategies, such as partnerships and expansions, to increase their revenue.

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Top 5 Players in Operational Technology Market:

Schneider Electric

Schneider Electric is a European multinational corporation specializing in energy management and automation solutions. The company serves the residential and commercial buildings and industrial infrastructure segments. It operates through the Energy Management (medium voltage, low voltage, and secure power) and Industrial Automation segments in 4 key markets: nonresidential and residential buildings, utilities and infrastructure, industry and machine manufacturers, and data centers and networks. Schneider provides an OASyS dynamic network of applications (DNA) based on real-time SCADA solutions. OASyS DNA offers real-time data related to field activities through enterprise networks. The company serves automotive, oil & gas, food & beverages, mining & minerals, and network & data centers industries with many subsidiaries across the world; the major ones are Schneider (US), Schneider (Europe) GmbH (Switzerland), Schneider Belgium NV (Belgium), and Schneider Electric (India).

Siemens

Siemens is a leading conglomerate pioneer in electrical engineering. The company is well-known for establishing major electrical infrastructure, trains & railways electrification, industrial automation, motors & drives, and healthcare diagnostics machines. Siemens operates through 4 reportable segments: Digital Industries, Smart Infrastructure, Mobility, and Siemens Healthineers. Siemens provides a complete range of automation products & components—from field devices such as industrial control equipment, sensors, and process analysis equipment, to plant-level software such as plant operations management and plant performance analytics software solutions. The company has a wide geographic presence, mainly across regions such as the Americas, Europe, Asia, Australia, Africa, and the Middle East. It is listed on the Frankfurt Stock Exchange as FWB: SIE.

Emerson Electric Co.

Emerson Electric Co. is a manufacturer of electric motors and fans. The company was founded as The Emerson Electric Manufacturing Company in St. Louis, Missouri, US. Emerson is primarily engaged in the manufacturing and development of process control systems, valves, and analytical instruments. It delivers products and services to industrial, commercial, and consumer markets. The company operates through 2 business segments, namely, Automation Solutions and Commercial & Residential Solutions. The company offers Plantweb digital ecosystem which enables measurable performance improvement in the areas of production, reliability, safety, and energy management by empowering personnel with new insights and actionable information. The company is listed on the New York Stock Exchange as NYSE: EMR. The company has geographic presence in the US, Canada, Asia, Europe, the Middle East/Africa, and Latin America.

Honeywell International, Inc.

Honeywell International Inc. offers manufacturing products, solutions, and services. It operates through 4 segments: Aerospace, Honeywell Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. Honeywell offers industrial automation and control solutions through the Honeywell Process Solutions (HPS) business unit, which provides services for oil & gas, refining, power generation, chemicals, pulp & paper, metals, minerals, and mining industries. Honeywell UOP, a Honeywell company, formerly known as UOP LLC or Universal Oil Products, provides software services and technologies to refining, petrochemicals, and oil & gas industries. Honeywell UOP and HPS together provide fully integrated solutions to customers to improve the safety of manufacturing plants. Honeywell has a presence in North America, Europe, the Middle East, Asia Pacific, Africa, and South America. It is listed in the Nasdaq Stock Market in the US and is among the Fortune 100 companies.

Rockwell Automation Inc

Rockwell Automation is one of the largest companies offering power, control, and information solutions for industrial automation. It operates through three business segments: Intelligent Devices, Software & Control, and Lifecycle Services. The Software & Control segment offers a comprehensive portfolio of production automation and operations platforms, including hardware and software. This integrated portfolio merges information technology (IT) and operational technology (OT) to provide the benefits of the connected enterprise to production systems. The company offers industrial sensors under the Allen-Bradley brand. The sensors and devices of the company consist of presence-sensing devices, limit switches, and condition-sensing devices. Industrial automation sensors come under condition sensing devices. The company also provides comprehensive MES solutions in the operational technology market. Rockwell Automation Inc. serves customers across more than 80 countries. The company continues the business founded as the Allen-Bradley Company in 1903, which it purchased in 1985. The company garners 55% of its sales from the US. Other countries where the company has a presence include China, Canada, Mexico, Italy, the UK, Germany, and Brazil.

Related Reports:

Operational Technology Market with COVID-19 Impact, by Components (Field Devices, Control Systems, & Services), Networking Technology, Industry (Process and Discrete), and Geography (North America, Europe, Asia Pacific, RoW) - Global Forecast to 2027

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Operational Technology Market Size,  Share & Growth Report
Report Code
SE 5166
RI Published ON
3/29/2022
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