What are the driving factors for the operational technology market?

 

The major driving factors of the operational technology market include the growing adoption of Industry 4.0, rising emphasis on industrial automation in manufacturing processes, increasing government involvement in supporting industrial automation, growing emphasis on regulatory compliances, increasing complexities in the supply chain, and surging demand for software systems that reduce time and cost.

Which are the significant players operating in the operational technology market?

Major companies offering operational technology technologies include ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Rockwell Automation (US), Honeywell International Inc. (US), Emerson Electric Co. (US), IBM (US), and General Electric (US).

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Which region will lead the operational technology market in the future?

APAC is expected to lead the operational technology market during the forecast period. .

Does this report include the impact of COVID-19 on the operational technology market?

Yes, the report includes the impact of COVID-19 on the operational technology market. It illustrates the post- COVID-19 market scenario.

What is the total CAGR expected to be recorded for the operational technology market during 2022-2027?

The global operational technology market is expected to record the CAGR of 6.5% from 2022–2027.

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