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Operational Technology Market Worth 40.42 Billion USD by 2022
[April 13, 2017]

Operational Technology Market Worth 40.42 Billion USD by 2022

PUNE, India, April 13, 2017 /PRNewswire/ --

According to a new market research report "Operational Technology Market by Component (Field Devices, Control Systems, Services), Networking Technology (Wired Technology, Wireless Technology), End-User Industry, and Region - Global Forecast to 2022", published by MarketsandMarkets™, the market is expected to be valued at USD 40.42 Billion by 2022, growing at a CAGR of 6.7% between 2017 and 2022.

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Browse 80 market data Tables and 61 Figures spread through 232 Pages and in-depth TOC on "Operational Technology Market"

http://www.marketsandmarkets.com/Market-Reports/operational-technology-market-175373380.html

Early buyers will receive 10% customization on this report. 

The factors that are driving the growth of this market are the increasing demand for industrialization in emerging economies; evolution of IIoT, and increased communication and monitoring machines; and growing demand for smart automation solutions.

"OT market for DCS expected to grow at the highest rate during the forecast period" 

The market for distributed control system (DCS) is expected to grow at the highest CAGR between 2017 and 2022. The acceleration in adoption of IoT has increased the use of connected devices; demand for automation will continue to drive the market for control systems such as DCS and SCADA systems. The rapid demand for digital transformation has raised the requirements for control systems. Moreover, IIoT is urging the industries to automate their plant and their production process to gain a competitive edge over the peers. DCS provides the finest control for regulatory applications and is used for the integration of power measuring devices, drives, and soft starters.

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"The OT market for the oil and gas industry to grow at a high rate between 2017 and 2022" 

Among the process industries, the oil and gas industry accounted for the largest share of the overall OT market based on the end-user industry in 2016. Since the past few years, the global oil ad gas industry has been witnessing challenges such as falling oil and gas prices, sluggish demand, and environmental concerns. OT enables the oil and gas industry to monitor the facilities remotely and gain knowledge about daily inventories and the equipment condition. The increasing number of oil and gas companies is investing in the improved control systems, software, and analytics to optimize their operations and give them a competitive advantage.

"North America expected to lead the OT market between 2017 and 2022" 

North America is expected to hold the largest size of the OT market during the forecast period. The players in North America are emphasizing on modernizing their plants and facilities with advanced technologies. Furthermore, the adoption of smart automation technologies and a significant number of established players are driving the demand for the OT market in North America.


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The major players operating in the OT market are ABB (Switzerland), Siemens AG (Germany), General Electric (US), Honeywell International Inc. (US), Schneider Electric (France), Yokogawa Electric (Japan), Rockwell Automation, Inc. (US), Emerson (US), IBM (US), Oracle (US), SAP SE (Germany), Huawei Technologies (China), NEC Corporation (Japan), Cisco Systems (US), Accenture (US), Wipro (US), Cognizant (US), Hewlett-Packard (US).

Browse Related Reports 

Industrial IoT Market by Device & Technology (Sensors, RFID, Industrial Robotics, DCS, Condition Monitoring, Smart Meters, AHS, Camera System, Networking Technologies), Software (PLM Systems, MES, SCADA), Vertical, and Geography - Global Forecast to 2022

http://www.marketsandmarkets.com/Market-Reports/industrial-internet-of-things-market-129733727.html

Smart Factory Market by Technology (DCS, PLC, MES, ERP, SDADA, PAM, HMI, PLM), Component (Sensors, Industrial Robots, Machine Vision Systems, Industrial 3D Printing), End-User Industry, and Region - Global Forecast to 2022

http://www.marketsandmarkets.com/Market-Reports/smart-factory-market-1227.html

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About MarketsandMarkets

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their pain points around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model - GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "RT" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.


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SOURCE MarketsandMarkets


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