LONDON, April 20, 2017 /PRNewswire/ -- "OT market expected to grow at a significant rate between 2017 and 2022" The operational technology (OT) market is expected to grow at a CAGR of 6.7% between 2017 and 2022 and is expected to be worth at USD 40.42 billion by 2022. The key factors driving the growth of the OT market are the development strategies implemented by the players operating in the automation ecosystem, such as mergers and acquisitions, partnerships, and collaborations; increasing demand for industrialization in emerging economies; and evolution of IIoT with the increased communication and monitoring of machines. However, the major restraining factors for the growth of this market are supply chain disruptions, lack of efficient government initiatives, and so on. Download the full report: https://www.reportbuyer.com/product/4837043/"SCADA systems expected to hold the largest share of the OT market based on control systems during the forecast period" The supervisory control and data acquisition (SCADA) systems hold the largest share in the OT market for control systems. The acceleration in adoption of IoT has increased the use of connected devices, and the demand for automation will keep driving the market for control systems such as DCS and SCADA systems. The rapid demand for digital transformation has raised the requirements for control systems. Moreover, IIoT is urging the industries to automate their plant and their production process to gain a competitive edge over the peers. DCS provides the finest control for regulatory applications and is used for the integration of power measuring devices, drives, and soft starters. "Wired technology expected to hold the largest share of the overall OT market in 2017" Wired networks are safe and reliable, and hence they continue to be one of the most preferred technology in the industrial organizations. The wired networking technologies which are essential for establishing connectivity among the OT solutions are Industrial Ethernet, Modbus, PROFINET, Foundation Fieldbus, HART, and others (CAN, SDI, and CDE). These are widely used in the end-user industry across various process industries such as oil and gas, fod and beverages, chemical, pharmaceutical, and others.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/operational-technology-market-by-component-field-devices-control-systems-services-networking-technology-wired-technology-wireless-technology-end-user-industry-and-region---global-forecast-to-2022-300443178.html
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