Global Industrial Control Systems (ICS) Market Overview:
An industrial control system is an information system that is used to control industrial processes such as manufacturing, product handling, production, and distribution. It is handling various components, such as monitoring devices and software. The goal of an industrial control system is to ensure daily autonomous and efficient industrial operation with minimal human input. There are a wide variety of advantages, including improved efficiency, reduced cost for greater profits, ICS contributing to product quality in many ways, etc. The increasing collaboration between information technology and operational technology is a strong factor driving this market.
As per latest study released by AMA Research, the Global Industrial Control Systems (ICS) market is expected to see growth rate of 8.4% and may see market size of USD218800.0 Million by 2028.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Increased attention in edge computing for faster data processing and low latency
Market Growth Drivers:
Increasing demand for products and services in various industries and The continuous development of technology such as sensor, actuators
Challenges:
Lack of visibility and controls in industrial control system networks
Restraints:
The increasing connectivity of ICS make them susceptible to cyber threats
Opportunities:
Integration of 4.0 industry such as, industrial internet of things, artificial intelligence, big data
Competitive Landscape:
Competition among existing players is due to the stiff market share occupied by leading players. The companies are implementing strategic activities such as acquisition and mergers along with collaboration with companies in other industries to help them in improving sustenance and maintaining their competitive advantages.
Some of the key players profiled in the report are Siemens AG (Germany), Omron Corporation (Japan), Honeywell International Inc. (United States), Rockwell Automation Inc. (United States), Schneider Electric SE (France), Emerson Electric Co (United States), Yokogawa Electric Corporation (Japan), GLC Controls Inc (United States), Mitsubishi Electric Corporation (Japan) and Phoenix Contact GmbH & Co. KG (Germany). Additionally, following companies can also be profiled that are part of our coverage like B&R Industrial Automation GmbH (Austria), Beckhoff Automation GmbH & Co. KG (Germany), COPA-DATA GmbH (Austria), Spiroflow automation (United States), Hitachi Ltd (Japan) and Others.
Considering Market by , the sub-segment i.e. will boost the Industrial Control Systems (ICS) market.Latest Market Insights:
In September 2022, Hitachi Ltd., had acquired flexware innovation Inc., a leading manufacturing system integrator. With this acquisition, will strengthen and enhance it business in the supervisory control and data acquisition, manufacturing execution system.
In June 2023, Spiroflow automation, a leading full service industrial, networking and automation provider has launched the new website. The new digital environment provides and enhanced user experiences for customer looking vital information on factory automation and sophisticated industrial control system for manufacturing and industrial facilities. and In February 2023, ABB launches its ABB ability SYMPHONY plus distributed control system to further support digital transformation for power generation and water industries. New process controller increases performance and enables plant-wide digitalization, offering a non-invasive modernization of the installed base.
What Can be Explored with the Industrial Control Systems (ICS) Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Industrial Control Systems (ICS) Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Industrial Control Systems (ICS)
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Industrial Control Systems (ICS) market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Industrial Control Systems (ICS) market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Manufacturer, Distributors, Research organization, Strategic Business Planners and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.