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Operational Technology Market Share

Report ID: GMI9039
Published Date: Apr 2024
Report Format: PDF

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Operational Technology Market Share

ABB and Schneider Electric held a significant share of over 20% in 2023. ABB is a global leader in OT solutions, offering a comprehensive portfolio of products, systems, and services tailored to industrial automation, electrification, and digitalization needs. In the market, ABB provides cutting-edge solutions that enable organizations to optimize processes, improve productivity, and enhance operational efficiency across diverse industries.

Schneider Electric is a global leader in energy management and automation solutions, offering a wide range of products and services for various industries, including power, buildings, infrastructure, and data centers. The company specializes in providing integrated solutions that optimize energy efficiency, reliability, and sustainability across the entire lifecycle of assets and infrastructure.

Operational Technology Market Companies

Major players operating in the operational technology industry are:

ABB
Schneider Electric
TE Connectivity
Emerson Electric co.
Fortinet, Inc.
Honeywell International Inc.
General Electric

Authors: Suraj Gujar, Deeksha Vishwakarma

Frequently Asked Questions (FAQ) :

Operational technology market size crossed USD 165 billion in 2023 and is expected to register over 7% CAGR from 2024-2032 owing to the proliferation of cyber threats targeting Operational Technology (OT) systems, including ransomware, malware, and targeted attacks worldwide.

The cloud segment recorded over 65% share in 2023 due to rising challenge of cybersecurity threats and customer needs, leading to organizations, focusing on several new capabilities that take security for OT environments to the next level.

North America operational technology industry recorded over 39% CAGR from 2024-2032 due to technological advancements, increasing investments in industrial automation, and the adoption of Industry 4.0 initiatives in the region.

ABB, Schneider Electric, TE Connectivity, Emerson Electric co., Fortinet, Inc., Honeywell International Inc., and General Electric, are some of the major operational technology companies worldwide.