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Operational Technology Industry Report Analysis By opportunities
Operational technology is a category of hardware and software that monitors and controls how physical devices perform. An important feature of operational technology is the ability to monitor and control physical devices remotely. Operational Technology has become a common, crucial element of critical infrastructure systems since it is widely used in power plants, refineries, nuclear plants, etc. Earlier was only used in industrial control systems for manufacturing, transportation, and utilities, and also the technologies had networking limitations. The conventional operational technology which was only used in industrial control systems is now being replaced by operational technology with the technological advancements in communication and networking resulting in the emergence of the trend for smart operational technologies. This has provided administrators to perform their tasks remotely within the network and get work done in the real-time.
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North America is projected to have the highest CAGR, owing to the acceptance of smart automation technologies and a significant number of established operational technology players present in the region. Furthermore, the players in North America are emphasizing modernizing their facilities with advanced technologies which are further boosting the market growth. The growth is accredited to the growing in demand from process industries and non-process industries which are witnessing a significant rise in their operational activities.
Some of the key players profiled in the Operational Technology Market include ABB, Advantech Co., Ltd., Cognizant, Emerson Electric Co., FANUC INDIA Private Limited, General Electric Company, Hewlett Packard Enterprise Development LP, Honeywell International Inc., Huawei Technologies Co., Ltd., John Wodd Group PLC, Oracle, Rockwell Automation, Inc., SCADAfence, Schneider Electric, Siemens, Wipro Limited, Wunderlich-Malec Engineering, Inc., Yokogawa India Ltd.
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