OT Definition - Operational Technology
OT Definition - Operational Technologies (OT). The hardware and software dedicated to detecting or causing changes in physical processes through direct monitoring and/or control of physical. Devices such as valves, pumps, sensors, cameras, electronic locks, thermostats, machines, robots and autonomous systems. IIoT, Cities, Energy, Science, Industry, Facilities, Healthcare, Manufacturing, Infrastructure and Business Operations.
OT is the use of computers to monitor or alter the physical state of a system, such as the control system for a power station or the control network for a rail system. The term has become established to demonstrate the technological and functional differences between traditional IT systems and Industrial Control Systems environment.
OT Definition - Critical Infrastructure
The Operational Technology (OT) networks (such as industrial control and supervisory control and data acquisition systems (ICS/SCADA) that run today’s modern society are a collection of connected devices designed to work together as an integrated and system. If one of these systems fails, it can have a dangerous domino effect. For example, electricity requires telecommunications to transfer information on wheeling power from the electrical grid.
This same telecommunications is used to enable financial transactions for both electrical producers and consumers. Electric generators rely on coal, natural gas, oil, etc. to power the telecommunication and financial companies. Railroads and trucks provide transportation for the delivery of their products to produce energy.
The resources and services produced by the 16 Critical Infrastructure Key Resources (CIKRs) are intertwined in order to enable and sustain society’s standard of living.
OT Definition - OT Market
Global Forecast to 2022",the operational technology (OT) market is expected to be valued at USD 40.42 Billion by 2022, growing at a CAGR of 6.7% between 2017 and 2022. The factors that are driving the growth of this market are the increasing demand for industrialization in emerging economies; evolution of IIoT, and increased communication and monitoring machines; and growing demand for smart automation solutions.
“OT market for DCS expected to grow at the highest rate during the forecast period”
The market for distributed control system (DCS) is expected to grow at the highest CAGR between 2017 and 2022. The acceleration in adoption of IoT has increased the use of connected devices; demand for automation will continue to drive 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.
OT Definition - Oil & Gas
“The OT market for the oil and gas industry to grow at a high rate between 2017 and 2022”
Among the process industries, the oil and gas industry accounted for the largest share of the overall OT market based on the end-user industry in 2016. Since the past few years, the global oil and gas industry has been witnessing challenges such as falling oil and gas prices, sluggish demand, and environmental concerns. OT enables the oil and gas industry to monitor the facilities remotely and gain knowledge about daily inventories and the equipment condition. The increasing number of oil and gas companies is investing in the improved control systems, software, and analytics to optimize their operations and give them a competitive advantage.
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