What Has Been the Growth of the Information Technology (IT) Or Operational Technology (OT) Convergence Market So Far?
The information technology (it) or operational technology (ot) convergence market has seen considerable growth due to a variety of factors.
• The information technology (IT) or operational technology (OT) convergence market has experienced rapid growth in recent years. It will rise from $63.95 billion in 2024 to $75.32 billion in 2025, at a CAGR of 17.8%.
This growth is attributed to the integration of advanced technologies in industrial automation, the rise of smart technologies, increased connectivity, and the merging of IT and OT systems.
What Is the Forecasted Market Size and Growth Rate for The Information Technology (IT) Or Operational Technology (OT) Convergence Market Size In The Coming Years?
The information technology (it) or operational technology (ot) convergence market is expected to maintain its strong growth trajectory in upcoming years.
• The IT/OT convergence market is projected to grow to $143.23 billion by 2029 with a CAGR of 17.4%.
Growth is fueled by industrial automation adoption, connected device and IoT usage, rising cyber-attacks on critical infrastructure, OT security awareness, and government regulations. Key trends include cloud migration, cybersecurity integration, edge computing adoption, digital twin technology, and AI/machine learning integration.
What Factors Are Driving Growth In The Information Technology (IT) Or Operational Technology (OT) Convergence Market?
The rise in cyberattacks is expected to stimulate the growth of the information technology (IT) or operational technology (OT) convergence market. Cyberattacks are deliberate attempts to breach digital systems, and their prevalence is increasing due to greater digital reliance and connectivity. IT or OT convergence plays an essential role in strengthening cybersecurity resilience by improving organizational security posture. AAG IT Services reported a 81% rise in cyberattacks in Australia between 2021 and 2022, with attacks on financial websites increasing by over 200%. Thus, the growing frequency of cyberattacks is fueling the IT or OT convergence market's growth.
What Are The Main Segments Of The Global Information Technology (IT) Or Operational Technology (OT) Convergence Market?
The information technology (IT) or operational technology (OT) convergence market covered in this report is segmented –
1) By Type: Cloud Deployment, Local Deployment
2) By Network Technology: Wired, Wireless
3) By Application: Industrial, Business, Other Applications
4) By Industry: Energy And Utilities, Healthcare, Retail, Consumer Packaged Goods, Transportation And Logistics, Infrastructure And Construction, Telecommunications, Automotive, Agriculture, Other Industries
Subsegments:
1) By Cloud Deployment: Public Cloud, Private Cloud, Hybrid Cloud
2) By Local Deployment: On-premises Deployment, Edge Computing Deployment, Distributed Deployment
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What Trends Are Reshaping The Future Of The Information Technology (IT) Or Operational Technology (OT) Convergence Market?
Leading enterprises in the convergence of information technology (IT) and operational technology (OT) are prioritizing the creation of open digital commerce platforms like the Siemens Xcelerator. The goal of these platforms is to expedite digital transformation processes across product creation, production, and operational procedures. Introduced in June 2022 by the German tech firm, Siemens AG, the Siemens Xcelerator is an innovative, open digital business platform featuring a diverse assortment of IoT-powered hardware and software. It also includes a rich partner ecosystem and a marketplace. This platform is designed to provide a seamless link between the physical and digital realms by integrating OT data within IT frameworks. This amalgamation enables improved visibility and optimization, and also fosters the formulation of innovative business models. The Siemens Xcelerator is a cloud-based, open software platform that provides a unique and unified truth source, accessible to engineers, suppliers, vendors, partners, and customers, wherever they are and whenever they want. The robust partner ecosystem of Siemens Xcelerator helps in making the offerings of both Siemens and its certified partners accessible, thereby encouraging co-creation and cooperation across the industrial value chain.
Who Are the Key Players In The Information Technology (IT) Or Operational Technology (OT) Convergence Market?
Major companies operating in the information technology (IT) or operational technology (OT) convergence market are:
• Microsoft Corporation
• Verizon Communications Inc.
• Dell Technologies Inc.
• Huawei Technologies Co. Ltd.
• Siemens AG
• Intel Corporation
• Accenture plc
• International Business Machines Corporation
• Cisco Systems Inc.
• Mitsubishi Electric Corporation
• Honeywell International Inc.
• Fujitsu Limited
• ABB Ltd.
• Hewlett Packard Enterprise Company
• Cognizant
• HCL Technologies Limited
• Wipro Limited
• Rockwell Automation
• Palo Alto Networks Inc.
• PTC Inc.
• Sierra Wireless
• TeamViewer
• Birlasoft
• Allied Telesis
• Armis Inc.
• OTORIO Ltd.
• MachineMetrics
What Is The Most Dominant Region In The Information Technology (IT) Or Operational Technology (OT) Convergence Market?
North America was the largest region in the information technology (IT) or operational technology (OT) convergence market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the information technology (IT) or operational technology (OT) convergence market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
