Europe Operational Technology Market, By Component (Hardware, Software/Platform, Services), Deployment (On Premise, Hybrid, Cloud), Organization Size (Small & Medium Business, Large Enterprises), Connectivity (wired, Wireless), Technology (Supervisory Control and Data Acquisition (SCADA), Distributed Control Systems (DCS), Process Control Domains (PCD), Programmable Logic Controllers (PLC), Safety Instrumented Systems (SIS), Building Management/Automation Systems (BAS)), End-user (Automotive and Transportation, Building and Infrastructure, Energy and Utilities, Food and Beverage, Life Sciences, Marine and Ports, Metals and Mining, Oil & Gas, Chemicals, Pulp and Paper, Others), Country (Germany, U.K., France, Switzerland, Italy, Spain, Netherlands, Russia, Belgium, Turkey, Rest of Europe), Market Trends and Forecast to 2028
Market Analysis and Insights: Europe Operational Technology Market
Europe operational technology market is expected to gain substantial growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyzes that the market is growing with a CAGR of 6.7% in the forecast period and is expected to reach USD 9,138.67 million by 2028. Increasing popularity of controlling and monitoring equipment is a major factor fuelling the growth of the market.
Operational technology systems are hardware and software that detect the cause of change through direct monitoring using a physical device. Operational Technology (OT) uses various technologies such as Supervisory Control and Data Acquisition (SCADA), Distributed Control Systems (DCS), Process Control Domains (PCD), and Programmable Logic Controllers (PLC) to perform its applications. It is popularly used in industrial control systems, which can be deployed anywhere including power stations paper industries, and others. In recent times, merging or convergence of operational technology with Information Technology (IT) systems has led to development of Industrial Internet of Things (IIOT).
Some of the factors, which are driving the market are rising demand for smart automated solutions and increasing mergers of OT and IT systems. However, security risk in OT systems over data platform can be a restraining factor. The Europe operational technology market growth is enhancing due to increasing operational technology deployments in buildings and infrastructure industries, which can be an opportunity for the market. Failures in critical functioning of OT systems can be a major challenge for the market growth in region.
This operational technology market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an analyst brief, our team will help you create a revenue impact solution to achieve your desired goal.
Europe Operational Technology Market Scope and Market Size
Europe operational technology market is segmented on the basis of component, deployment, organization size, connectivity, technology, and end-user. The growth among segments helps you analyze niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of component, the Europe operational technology market is segmented into hardware, software/platform, and services. The hardware segment is expected to hold largest share of the market during 2021 owing to growing demand for smart automated solutions in industries across Europe.
- On the basis of deployment, the Europe operational technology market is segmented into on premise, hybrid, and cloud. The cloud segment is expected to hold largest share of the market during 2021. The growth is attributed to rising demand for strengthening security, increasing production efficiency, and reducing resolution time in various industries including manufacturing, life science, pulp & paper, and others across European countries.
- On the basis of organization size, the Europe operational technology market is segmented into small & medium size business, large enterprise. The large enterprise segment is expected to hold largest share of the market during 2021. This is mainly due to growing demand for smart automated solutions, strengthening security, and increasing production efficiency in industries across Europe.
- On the basis of connectivity, the Europe operational technology market is segmented into wired and wireless. The wireless segment is expected to hold largest share of the market during 2021 owing to growing demand for smart automated solutions, which prove to be highly efficient in monitoring and controlling.
- On the basis of technology, the Europe operational technology market is segmented into Supervisory Control and Data Acquisition (SCADA), Distributed Control Systems (DCS), Process Control Domains (PCD), Programmable Logic Controllers (PLC), Safety Instrumented Systems (SIS), and Building Management/Automation Systems (BAS). The SCADA segment is expected to hold largest share of the market during 2021 owing to rising demand for merging operational technology and information technology, which proves to be highly accurate, efficient, and helps industries to boost up productivity significantly.
- On the basis of end user, the Europe operational technology market is segmented into automotive and transportation, buildings and infrastructure, energy and utilities, food and beverage, life sciences, marine and ports, metals and mining, oil & gas, chemicals, pulp and paper, and others. The oil & gas segment is expected to hold largest share of the market during 2021 owing to rapid industrialization in emerging economies and increasing need for upgrading existing systems for improving the productivity.
Europe Operational Technology Market Country Level Analysis
Europe operational technology market is analyzed and market size information is provided by component, deployment, organization size, connectivity, technology, and end-user.
Countries covered in Europe operational technology Market report are the UK, Germany, France, Switzerland, Italy, Spain, Netherlands, Russia, Belgium, Turkey, and the Rest of Europe.
The U.K. dominates the operational technology market owing to increasing popularity of controlling and monitoring equipment among various industries in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impact the current and future trends of the market. Data points, such as new sales, replacement sales, country demographics, regulatory acts, and import-export tariffs, are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Europe brands and their challenges faced due to high competition from local and domestic brands and impact of sales channels are considered while providing forecast analysis of the country data.
Rising Demand of Operational Technology
Europe operational technology market also provides you with detailed market analysis for every country growth in industry with sales, components sales, impact of technological development in operational technology, and changes in regulatory scenarios with their support for the market. The data is available for historic period 2019.
Competitive Landscape and Europe Operational Technology Market Share Analysis
Europe operational technology market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Europe presence, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, and technology lifeline curve. The above data points provided are only related to the companies’ focus on the Europe operational technology market.
Major players covered in the report are Honeywell International Inc., ABB, SCADAfence, Forcepoint, General Electric, Rockwell Automation, Inc., Fortinet, Inc., IBM Corporation, Advantech Co., Ltd., Emerson Electric Co., Wipro Limited, Schneider Electric, SAP SE, Cisco Systems, Inc., Accenture, Yokogawa Electric Corporation, Huawei Technologies Co., Ltd., Oracle Corporation, and others. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately. Various product developments are also initiated by the companies worldwide, which are also accelerating the growth of Europe operational technology market.
For instance,
- In May 2021, Rockwell Automation, Inc. entered into a partnership with Cisco. This partnership is primarily focused on expanding the company’s Threat Detection services. The key feature of this partnership was improved threat detection using cyber vision systems for information technology and operational technology. This was a strategical move from both these companies to expand their market and customer base.
- In February 2020, Schneider Electric launched a new upgraded EcoStruxure Power SCADA Operation Software. Key feature of this new product is real-time vision and control for timely response. It is being upgraded owing to the growing of cybersecurity issues and issues graphics customization. This software also offers safety, reliability, and compliance, which can help the company expand its market share.
Partnership, joint ventures and other strategies enhances the company market share with increased coverage and presence. It also provides the benefit for organisation to improve their offering for Europe operational technology market through expanded range of size.
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