Press release
Operational Technology Market 2018 Controls Network For A Rail System And Control System For A Power Station
Market Highlights:
Operational technology can be defined as the hardware and software used to detect or cause changes in physical processes via direct monitoring or physical devices control such as valves, pumps, etc. It is the usage of computers to monitor the physical state of a system, such as the control network for a rail system and control system for a power station.
The global operational technology Industry is expected to grow in the forecast years owing to the increased communications and monitoring of machines, the evolution of IIoT, and; development in automation ecosystem with the help of organic growth strategies such as mergers and acquisitions, and collaborations; and rise in demand for industrialization in emerging countries during the forecast period.
The supervisory control and data acquisition (SCADA) systems command the maximum share in the operational technology Industry. The increased rate of adoption of IoT has led to the use of connected devices, and the increased automation demand will keep propelling the Industry for control systems. The swift demand for digital transformation has elevated the requirements for control systems.
Top Players:
The major companies that provide operational technology solutions include Emerson, Accenture, ABB Ltd, Rockwell Automation, Schneider Electric, IBM Corporation, Oracle, SAP SE, General Electric, Siemens AG, Yokogawa Electric, Huawei Technologies, among others.
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Wired technology is anticipated to hold the maximum share of the overall operational technology Industry. Owing to the safety and reliability of wired networks, they are considered to be the most preferred technology in the industrial firms. The wired networking technologies that are necessary for establishment of connectivity among the OT solutions include HART, Foundation Fieldbus, Industrial Ethernet, PROFINET, Modbus, and others. These are highly used in the end-user industry such as chemical, food and beverages, oil and gas, pharmaceutical, and others.
Industry Segments
The global operational technology Industry is segmented on the basis of component, networking technology, end-user and regions.
• Based on the components, the global operational technology Industry is divided into field devices, control systems, and services.
• Based on the networking technology, the global operational technology Industry is divided into wired technology, and wireless technology.
• Based on the end-user, the global operational technology Industry is segmented into process industry, and non-process industry.
Regional Analysis
Based on regions, the global operational technology Industry is segmented into North America, Europe, Asia Pacific, Middle East & Africa (MEA), and Latin America. The North American operational technology Industry is estimated to grow at a swift rate during the forecast period. The presence of large number of technology providers and start-up companies are providing their products and solutions to both process and non-process industries. Various end-user industries such as food and beverages, oil and gas, and chemical present in this region have invaded the Industry through partnerships and collaborations. This has led to the creation of huge growth potential for the operational technology Industry.
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