Latin America Operational Technology Market Size & Outlook
Latin America operational technology market, 2018-2030 (US$M)
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Latin America operational technology market highlights
- The Latin America operational technology market generated a revenue of USD 10,179.0 million in 2023.
- The market is expected to grow at a CAGR of 10.5% from 2024 to 2030.
- In terms of segment, computer numerical control was the largest revenue generating component in 2023.
- Building Management System is the most lucrative component segment registering the fastest growth during the forecast period.
- Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 10,179.0 million |
| Market revenue in 2030 | USD 20,425.4 million |
| Growth rate | 10.5% (CAGR from 2023 to 2030) |
| Largest segment | Computer numerical control |
| Fastest growing segment | Building Management System |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Supervisory Control and Data Acquisition, Distributed Control System, Manufacturing Execution System Market, Functional Safety, Building Management System, Plant Asset Management, Variable Frequency Drives, Computer Numerical Control |
| Key market players worldwide | ABB Ltd, Emerson Electric Co, GE Aerospace, Hitachi Ltd, Honeywell International Inc, International Business Machines Corp, OMRON Corp, Rockwell Automation Inc, Siemens AG, Schneider Electric SE |
Other key industry trends
- In terms of revenue, Latin America region accounted for 5.3% of the global operational technology market in 2023.
- Globally, North America is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 106,868.4 million by 2030.
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Operational Technology Market Scope
Operational Technology Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
Latin America operational technology market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to operational technology market will help companies and investors design strategic landscapes.
Computer numerical control was the largest segment with a revenue share of 34.31% in 2023. Horizon Databook has segmented the Latin America operational technology market based on supervisory control and data acquisition, distributed control system, manufacturing execution system market, functional safety, building management system, plant asset management, variable frequency drives, computer numerical control covering the revenue growth of each sub-segment from 2018 to 2030.
The increasing demand for cybersecurity solutions in Latin America, driven by the growing internet access and expanding wireless networks, has a direct and positive impact on operational technology. As organizations prioritize cybersecurity, the protection of operational technology systems from potential threats and vulnerabilities is strengthened.
Moreover, the integration of IoT as part of broader corporate transformation plans enhances the capabilities of operational technology applications. The rapid development of IoT solutions, particularly in countries such as Brazil, contributes to improved data security, efficient data processing from operational technology sensors, and overall resilience in the face of evolving cyber threats.
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Target buyers of Latin America operational technology market databook
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Our clientele includes a mix of operational technology market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of continent-level data and insights on the Latin America operational technology market, including forecasts for subscribers. This continent databook contains high-level insights into Latin America operational technology market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Latin America operational technology market report size, by country, 2018-2030 (US$M)
Latin America Operational Technology Market Share, 2023 & 2030 (US$M)
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