How Has the Operational Technologies Market Evolved Historically and What is its Current Size?
The operational technologies market has seen considerable growth due to a variety of factors.
• The operational technologies market has seen rapid growth in recent years. It will grow from $182.06 billion in 2024 to $201.09 billion in 2025, with a compound annual growth rate (CAGR) of 10.5%.
The growth is driven by the adoption of automation technologies, cybersecurity concerns, IoT integration, digital transformation, and the need to upgrade aging infrastructure.
What Is The Projected Growth Of The Operational Technologies Template Market?
The operational technologies market is expected to maintain its strong growth trajectory in upcoming years.
• The operational technologies market is expected to grow rapidly, reaching $295.48 billion by 2029 with a CAGR of 10.1%.
Growth drivers include the adoption of edge computing, deployment of 5G networks, remote access emphasis, sustainability focus, and supply chain resilience. Key trends include standardized protocol development, digital twin adoption, predictive analytics, open-source technologies, and human-centric design.
What Are The Key Drivers Fueling Growth In The Operational Technologies Market?
The surge in energy needs is projected to stimulate the operational technologies market's expansion in the coming years. Energy, in this context, is the power or electricity required to run machinery, equipment, and systems essential for manufacturing, production, and operational tasks. Factors spurring energy demand include population increase, urbanization, industrialization, economic growth, and technology advancements. Operational technologies are instrumental in revolutionizing the energy sector by enhancing efficiency, dependability, and sustainability. These improvements are achieved through operation optimization, integration of renewable energy, and strengthening grid resilience to accommodate the shifting needs of the energy market. For example, the International Energy Agency (IEA), an autonomous intergovernmental organization based in France, predicts that in 2024, after a 2.2% growth in global electricity demand in 2023, an average annual increase of 3.4% is expected until 2026. Thus, the burgeoning demand for energy is fueling the growth of the operational technologies market.
What Are The Principal Market Segments In The Global Operational Technologies Industry?
The operational technologies market covered in this report is segmented –
1) By Component: Control Systems, Field Devices
2) By Technology: Wired, Wireless
3) By Vertical: Oil And Gas, Food And Beverages, Energy And Power, Automotive, Other Verticals
Subsegments:
1) By Control Systems: Supervisory Control And Data Acquisition (SCADA) Systems, Distributed Control Systems (DCS), Programmable Logic Controllers (PLC), Human Machine Interface (HMI), Safety Instrumented Systems (SIS), Automation Controllers
2) By Field Devices: Sensors, Actuators, Valves, Transmitters, Relays
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Which Emerging Market Trends Are Altering The Operational Technologies Industry?
Major players in the operational technologies sector are prioritizing the development of high-tech solutions, such as industrial edge solutions, with the goal of improving real-time data processing, enhancing operational productivity, and facilitating predictive upkeep. Industrial edge solutions refer to distributed computing systems that process data at or near the point of creation in industrial settings, facilitating real-time analysis, increased efficiency, and diminished latency in manufacturing and operational functions. To illustrate, Ola Electric Mobility, an electric two-wheeler production company based in India, unveiled the Ola Digital Twin platform in October 2024 to overhaul manufacturing procedures and product evolution. This platform utilizes innovative technologies like Krutrim AI, simulations, and IoT to duplicate real-world manufacturing environments digitally. It brings improved manufacturing planning, generative AI potential, AI-guided quality inspections, thermal simulations for data centers and chilling systems, and link up with NVIDIA Isaac Sim for virtual robot training. This initiative establishes a fresh benchmark for proficiency and ingenuity in the electric vehicle sector.
Who Are the Key Players In The Operational Technologies Market?
Major companies operating in the operational technologies market are:
• Huawei Technologies Co.Ltd.
• General Electric Co
• Accenture Corporation
• IBM Corporation
• Cisco Systems
• Ernst & Young Global Limited
• Oracle
• Schneider Electric SE
• Honeywell International Inc.
• SAP SE
• ABB Ltd.
• Thales Group
• Emerson Electric Co.
• Wipro Limited
• Rockwell AutomationInc.
• FortinetInc.
• Yokogawa Electric Corporation
• Advantech Co.Ltd.
• Audubon Companies
• Forcepoint LLC
• Wunderlich-Malec EngineeringInc.
• Gray Matter Systems LLC
• iTSM Group
• SCADAfence
• NTT Ltd.
What Are The Regional Insights Into The Operational Technologies Market?
North America was the largest region in the operational technologies market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the operational technologies market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
