Europe Operational Technology Market Size, Share & Industry Trends Analysis Report By Networking Technology (Wired and Wireless), By Component, By Industry, By Country and Growth Forecast, 2022 - 2028
The Europe Operational Technology Market would witness market growth of 5.2% CAGR during the forecast period (2022-2028).
Connecting IT and OT reduces the risk for businesses in a variety of ways. Conventionally, floor operators had to read, gather, and input data by hand in order to disseminate it across the plant floor and subsequently with the rest of the company. Irrespective of any regulatory checks and balances in place, this manner of sharing information increases the risk of human mistakes dramatically. People can gain the better data accessibility, stability, and fluidity found in IT infrastructure brought to an OT workplace by employing IT technology. Because data is transferred directly from one place to another, there is less chance of human error.
People can access a bigger volume of high-quality data without affecting the existing SCADA system by unifying a supervisory control and data acquisition (SCADA) system into an IT infrastructure. People can access more data using technologies like SQL databases without jeopardizing the SCADA system's operation, lowering the risk of downtime and revenue loss.
The allies throughout the world value UK cyber knowledge, and the UK has played a key role in boosting international capabilities and resolving to combat harmful cyber activities. In contrast to some of the opponents' indiscriminate activities, there has been the use of offensive cyber capabilities responsibly, in accordance with both UK and international law and the publicly stated principles.
The Cyber Security Ambassadors program has forged long-term partnerships and assisted UK businesses in securing important foreign contracts. The Digital Access Programme, for example, has successfully collaborated with partner countries in Africa, Asia, and Latin America by providing technical advice to improve the cyber-security capacity of their governments, business sectors, and users – including by growing cyber-hygiene skills in underserved communities to allow the weakest to protect itself from the risks and challenges of being online.
The Germany market dominated the Europe Operational Technology Market by Country in 2021, and would continue to be a dominant market till 2028; thereby, achieving a market value of $14,738.1 million by 2028. The UK market is anticipated to grow at a CAGR of 4.3% during (2022 - 2028). Additionally, The France market would showcase a CAGR of 6% during (2022 - 2028).
Based on Networking Technology, the market is segmented into Wired and Wireless. Based on Component, the market is segmented into Control Systems (Distributed Control System & SCADA, Warehouse Management System, Plant Asset Management & Functional Safety, Human Machine Interface, and Manufacturing Execution System), Field Devices (Industrial Sensors, Industrial Valves, Transmitters, and Actuators), and Services. Based on Industry, the market is segmented into Machine Manufacturing, Automotive, Aerospace & Defense, Semiconductor & Electronics, Chemical, Oil & Gas, Pharmaceuticals & Medical Devices, Pulp & Paper, Metals & Mining, Food & Beverages, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Siemens AG, ABB Group, Schneider Electric SE, Mitsubishi Electric Corporation, General Electric (GE) Co., Honeywell International, Inc., Oracle Corporation, IBM Corporation, Rockwell Automation, Inc., and Emerson Electric Co.
Scope of the Study
Market Segments covered in the Report:
By Networking Technology
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