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High penetration of IoT and growing requirements for automated services across industries are the key drivers of Operational Technology (OT) Market.

HYDERABAD, TELANGANA, INDIA, December 27, 2022 /EINPresswire.com/ -- IndustryARC, in its latest report, predicts that the Operational Technology (OT) Market is expected to reach US$26.59 billion after growing at an estimated CAGR of 6.21% during 2022-2027. Operational technology is a combination of hardware and software, that monitors, controls, and manages industrial processes as well as industrial equipment. OT keeps things such as factories, power plants, facility equipment, machines, and others running. High penetration of IoT and growing requirements for automated services across industries are the key drivers of this market. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

Interested in knowing more relevant information? Click here:
https://www.industryarc.com/pdfdownload.php?id=505372

Key Takeaways:

This IndustryARC report on the Operational Technology (OT) Market highlights the following areas –

• Control systems held the major market share of OT industry, high penetration of industrial 4.0 and growing demand for automation are the key factors behind this growth.

• APAC is anticipated to witness the fastest growth during the forecast period due to the rapid industrialization in most of the developing countries of this region.

• The market of OT is estimated to witness significant upsurge during the forecast period, owing to the rising penetration of automation.

Segmental Analysis:

• By Component - The OT market is segmented into Field Devices, Control Systems and Services. Control systems held the largest share of 32.4% of OT market in 2020 and is estimated to grow with a significant amount of growth during the forecast period 2021-2026.

• By End-User Industry - The market is segmented into Process Industries and Non-Process Industry, based on end-user industry. Process industry held the major OT market share of around 21.3% in 2020 and among all the process industries, Pharmaceutical industry is anticipated to witness the fastest growth in 2021-2026.

• By Geography - The OT market is segmented into the North America, Europe, APAC, South America and RoW regions. According to OT market report of IndustryARC, APAC is anticipated to witness the fastest market growth in terms of CAGR during the forecast period.

Click on the following link to buy the Operational Technology (OT) Market Report:
https://www.industryarc.com/reports/request-quote?id=505372

Competitive Landscape:

The top 5 players in the Operational Technology (OT) Industry are -

1. ABB Ltd.
2. Cisco Systems, Inc.
3. SAP SE
4. Schneider Electric SE
5. Siemens AG

Click here to browse the complete report summary:
https://www.industryarc.com/Research/Operational-Technology-Market-Research-505372

Why Choose IndustryARC?

IndustryARC is one of the leading market research and consulting firms in the world. It produces over 500 unique market reports annually. If you are looking for a detailed overview of a particular market, you can simply connect with the team at IndustryARC. You can not only buy your preferred market report from the website, but also get personalized assistance on specific reports.

Related Reports:

A. Automation Market – Forecast (2021 - 2026):

https://www.industryarc.com/Report/15493/automation-market.html

B. Smart Factory and Industrial Automation Market – Forecast (2021 - 2026):

https://www.industryarc.com/Report/19013/smart-factory-and-industrial-automation-market

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