Operational Technology Market To Reach $364.74 Billion By 2030

Operational Technology Market Growth & Trends

The global operational technology market size is expected to reach USD 364.74 billion by 2030, growing at a CAGR of 10% from 2024 to 2030, according to a new report by Grand View Research, Inc. The increased demand for operational technologies (OT) security solutions arises from the growing dependence on digital technologies within industrial systems, resulting in heightened vulnerability of OT systems to cyber threats. Furthermore, the imposition of strict government regulations, such as the cybersecurity framework aimed at enhancing industrial control systems (ICS), compels organizations to implement extensive OT security protocols. Moreover, the integration of IT and OT systems leads to increased interconnectedness, thereby exposing OT systems to cyber threats originating from IT networks. Consequently, there is an escalating need for resilient OT solutions to safeguard vital industrial processes against potential cyber risks.

Operational technologies enable direct control and monitoring of devices, processes, and events within the physical environment. Examples include DCS, SCADA, PLCs, BMS, CNC systems, and more. These technologies operate critical infrastructure such as manufacturing plants, power plants, and water treatment facilities, ensuring efficient and secure management of industrial processes. They are integral components of various essential systems in modern society, playing crucial roles in maintaining functionality and reliability while safeguarding against potential disruptions and hazards.

In the dynamic operational technology market, the competitive environment is in constant flux, prompting companies to continually innovate and develop fresh growth strategies to uphold their market leadership. Key players prioritize research and development to craft advanced security solutions infused with AI and machine learning. For instance, Huawei Technologies Co., Ltd. is poised to transform manufacturing by spearheading the integration of Information and Communications Technologies (ICT) and Operational Technologies (OT) to enable smarter production processes. In alignment with global initiatives such as Germany's Industry 4.0, China's Made in China 2025, and the US's Industrial Internet, Huawei is at the forefront of driving digitalization across every manufacturing sector.

In North America, operational technology serves as a cornerstone of industrial operations, supporting sectors including manufacturing, transportation and logistics, and healthcare. With a focus on efficiency and reliability, OT systems in North America are integral for maintaining critical infrastructure and ensuring smooth production processes. Companies in sectors such as automotive, aerospace, and energy rely heavily on OT to streamline operations and minimize downtime. As technological advancements continue to reshape industries in North America, the integration of OT with emerging technologies such as AI and automation holds the promise of further optimizing performance and driving innovation. Meanwhile, in the Asia Pacific region, operational technology plays a central role in fueling the rapid industrialization and economic growth of emerging economies.

 Request a free sample copy or view report summary: Operational Technology Market Report

Operational Technology Market Report Highlights

• Computer Numerical Control (CNC) technology stands out as a dominant force within the operational technology market. Its widespread adoption across various industries, including manufacturing, aerospace, and automotive, highlights its significance in driving precision, automation, and efficiency in industrial processes

• The wired segment is experiencing significant growth in 2023. This preference for wired solutions highlighted the reliability, security, and consistent performance that wired technologies offer, particularly in critical industrial settings where uninterrupted connectivity is paramount

• The large enterprises segment has gained dominance in the market, with a significant market share in 2023. Their ability to invest in and implement advanced OT solutions is greater than that of smaller businesses, allowing them to streamline operations and enhance efficiency on a larger scale

• The discrete Industry segment secured dominance in the market, capturing a substantial market share by 2023. OT solutions customized for discrete manufacturing environments offer capabilities such as real-time monitoring, quality control, and production optimization, which are essential for maximizing efficiency and ensuring product quality

• Advancements in AI and machine learning are driving growth in the market. These technologies enable OT systems to swiftly analyze extensive data sets and generate actionable insights in real time. As a result, businesses can make informed decisions more efficiently, leading to enhanced productivity and overall performance

• With the increasing connectivity of industrial systems and the rise of IoT devices, the vulnerability to cyber threats has become a significant concern for businesses. As a result, there's an increased focus on integrating robust cybersecurity measures into OT solutions to protect critical infrastructure and sensitive data

Operational Technology Market Segmentation

Grand View Research has segmented the global operational technology market based on component, connectivity, deployment, enterprise size, industry, and region:

Operational Technology (OT) Component Outlook (Revenue, USD Billion, 2017 - 2030)

• Supervisory Control and Data Acquisition (SCADA)

  • Programmable Logic Controller (PLC)

  • Remote Terminal Units (RTU)

  • Human-machine Interface (HMI)

  • Others

• Distributed Control System (DCS)

• Manufacturing Execution System (MES)

• Functional Safety

• Building Management System (BMS)           

• Plant Asset Management (PAM)

• Variable Frequency Drives (VFD)

• Computer Numerical Control (CNC)

• Others

Operational Technology (OT) Connectivity Outlook (Revenue, USD Billion, 2017 - 2030)

• Wired

• Wireless

Operational Technology (OT) Deployment Outlook (Revenue, USD Billion, 2017 - 2030)

• Cloud

• On-premises

Operational Technology (OT) Enterprise Size Outlook (Revenue, USD Billion, 2017 - 2030)

• SMEs

• Large Enterprises

Operational Technology (OT) Industry Outlook (Revenue, USD Billion, 2017 - 2030)

• Process Industry

  • Oil & Gas

  • Chemicals

  • Pulp & Paper

  • Pharmaceuticals

  • Mining & Metals

  • Energy & Power

  • Others

• Discrete Industry

  • Automotive

  • Semiconductor & Electronics

  • Aerospace & Defense

  • Heavy Manufacturing

  • Others

Operational Technology (OT) Regional Outlook (Revenue, USD Billion, 2017 - 2030)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • France

• Asia Pacific

  • China

  • Japan

  • India

  • South Korea

  • Australia

• Latin America

  • Brazil

  • Mexico

• Middle East and Africa

  • Kingdom of Saudi Arabia (KSA)

  • UAE

  • South Africa

List of Key Players in the Operational Technology Market

• ABB

• Emerson Electric Co.

• General Electric

• Hitachi, Ltd.

• Honeywell International Inc.

• IBM Corporation

• OMRON Corporation

• Rockwell Automation

• Siemens

• Schneider Electric