Europe Operational Technology Market 2021 with 6.7% CAGR: Emerging Trends, In Depth Analysis of Industry Size and Share, Key Market Dynamics, Restraints and Forecast to 2028

 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.

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