Category : Semiconductor and Electronics | Published at : July-2020 | Delivery Format : PDF | Status: Published | Pages : 190
Acumen research and consulting, estimates that the global industrial control market is anticipated to reach market size of around US$ 175 Bn by 2027 and is anticipated to grow at a CAGR of around 5% in terms of revenue during the forecast period 2020 – 2027. Industrial control systems include numerous processing machines, computers, and components. These systems are designed to track, monitor, and conduct different manufacturing operations & automate processes with exceptional precision, improved product quality, and reliability.
Market Insights
The major factor driving the growth of industrial control market and is expected to grow during forecast period due to rising demand for digitization, advance technologies and connectivity. The industrial control market has tremendous capacity to grow due to digitization, improved customer interactions and user interface. Extensive developments by companies in the R&D of industrial control systems and increasing smart grid deployments for the defense of critical infrastructure from cyber-attacks are providing substantial growth opportunities for the growth of industrial control market. In addition, growing demand for cloud infrastructure is providing broad potential for the sector. Organizations are constantly innovating approaches to better modify the management and monitoring strategies for the applications and is providing real-time insight to assess inappropriate behavior and take appropriate action. As the frequency of cyber-attacks on essential systems is growing day by day, the industry is expected to boost momentum in the coming years. Owing to the unavailability of authentication methods in many sectors, protecting the industrial control system networks from both internal and external attacks is a major concern. During operational malfunctioning, it is difficult to determine whether it is being affected by human-error, security-breach or system failures. Factors such as lack of qualified professionals, and awareness about industrial security solutions can hinder the market growth. In addition, high deployment costs for industry control system in companies are expected to hinder the growth of the industrial control market.
Report coverage
The market research study on “Industrial Control Market (By Fabric Type: Polyester, Vinyl, Leather, Nylon, Others; By Vehicle Type: Passenger Vehicle, Commercial Vehicle; By Application: Carpets, Upholstery, Pre- assembled interior components, Tires, Safety Belts, Airbags, Others) - Global Industry, Analysis, Market Size, Opportunities and Forecast, 2020 - 2027” offers detailed insights on the global industrial control market entailing insights on its different market segments. Market dynamics with drivers, restraints and opportunities with their impact are provided in the report. The report also provides competitive landscape to understand the current stance of particular player. The report provides insights on global industrial control market are drug class, type, distribution channel and major geographic regions. The industrial control market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. For each region, the market size for different segments has been covered under the scope of report.
Asia Pacific accounts to hold large market share for industry controls market due to increase in urbanization and industrialization. Other factors such as rising awareness regarding energy conservation and need for providing uninterrupted electricity supply to people in North America and Europe is expected to boost the growth of industrial control market during forecast period. Moreover, North America held second largest market shares of global industrial control market in 2019 due to high number of industrial automation system providers. For instance, in January 2019, National Instruments (NI) launched an Industrial Internet of Things (IIoT) lab in Austin, Texas, where companies where focused to work together and innovate the advance solution. Europe contributes the significant growth in industrial controls market due to increasing adoption of control systems in the oil & gas industry. A need for economic development of water & Wastewater, oil & gas, and power infrastructure is rapidly growing in Europe, in which industrial controls are being used to analyze the drilling ground and for retaining the drill speed are the factors that drives the growth of Europe industrial control market. However, that factor that may impede the growth of industrial control market in Europe is due to increasing cyber-attack threats in critical infrastructure.
Key Players
Major players included in this report are Emerson Electric Corporation, ABB Ltd., Kawasaki Robotics, Honeywell International Incorporation, Mitsubishi Electric Factory Automation, Rockwell Automation, Inc., Omron Corporation, Siemens, Schneider Electric SA, Yokogawa Electric Corporation, and others.
The global industrial control market is segmented as below:
Market Segmentation
Industrial Control Market By Control System
Distributed Control System (DCS)
Supervisory Control & Data Acquisition System (SCADA)
Manufacturing Execution System (MES)
Other
Industrial Control Market By Component
Modular Terminal Blocks
Relays and Optocouplers
Surge Protectors
Marking Systems
Printing
Ferulles Cable Lugs
Handtools
Testers
Enclosure Products
PCB Connectors and Terminals
Heavy Duty Connectors
Analog Signal Conditioner
Electronics Housings
Power Supplies
Industrial Ethernet
Remote IO
Industrial Control Market By End-User
Automotive
Utility
Electronics & Semiconductor
Mining
Others
Industrial Control Market By Geography
North America
- U.S.
- Canada
Europe
- UK
- Germany
- France
- Spain
- Rest of Europe
Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions
Industrial control systems include numerous processing machines, computers, and components. These systems are designed to track, monitor, and conduct different manufacturing operations & automate processes with exceptional precision, improved product quality, and reliability.
The major factor driving the growth of industrial control market and is expected to grow during forecast period due to rising demand for digitization, advance technologies and connectivity
The industrial control market value is anticipated to be worth around US$ 175 Bn in 2027.
The CAGR of the global industrial control market from 2020-2027 is above 5%.
The industrial control market analysis is provided for major regional markets including North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
The key players operating in industrial control market such as Emerson Electric Corporation, ABB Ltd., Kawasaki Robotics, Honeywell International Incorporation, Mitsubishi Electric Factory Automation, Rockwell Automation, Inc., Omron Corporation, Siemens, Schneider Electric SA, Yokogawa Electric Corporation, and others.
Asia Pacific accounts to hold large market share for industry controls market.
