Industry Background:
Industrial controls are the different types of control systems and associated instrumentation that include the devices, systems, networks, and controls used to operate and/or automate industrial processes. Depending on the industry, each controls systems functions differently and are built to electronically manage tasks efficiently. Today the devices and protocols used in control systems are used in nearly every industrial sector and critical infrastructures such as the manufacturing, energy, transportation and water treatment industries. There are several types of industrial control systems are used such as distributed control system (DCS), supervisory control & data acquisition system (SCADA), manufacturing execution system (MES), and Others.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | ABB Ltd (Switzerland), Mitsubishi Electric Factory Automation (Japan), Siemens (Germany), Honeywell International Incorporation (United States), Emerson (United States), Schneider Electric SE (France) and Omron Corporation (Japan) |
According to AMA, the market for Industrial Controls is expected to register a CAGR of 5.2% during the forecast period to 2030. This growth is primarily driven by An upsurge in demand for IoT-based smart solutions and automation in various industries, Increase in demand for mass production in manufacturing industries to cater to the needs of the growing population and Growth in adoption of ICS by industries and rise in R&D investments.
Globally, a noticeable market trend is evident Rapid Technological Advancements in Industrial Controls & Automation Major Manufacturers, such as ABB Ltd (Switzerland), Mitsubishi Electric Factory Automation (Japan), Siemens (Germany), Honeywell International Incorporation (United States), Emerson (United States), Schneider Electric SE (France) and Omron Corporation (Japan), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Key Developments in the Market:
In November 2023,Motion & Control Enterprises announced Wednesday that it has acquired Buford, Georgia-based Applied Industrial Controls Inc. and Engineered Systems Group LLC.
In January 2022, Emerson continues to develop its focus on edge computing technologies for industry with the introduction of its PACSystems Edge Solutions. The new portfolio of turnkey industrial edge hardware and software solutions designed to help OEMs, system integrators, and end users “reduce the time spent integrating, developing, and validating digital transformation projects.
Influencing Trend:
Rapid Technological Advancements in Industrial Controls & Automation
Market Growth Drivers:
An upsurge in demand for IoT-based smart solutions and automation in various industries, Increase in demand for mass production in manufacturing industries to cater to the needs of the growing population and Growth in adoption of ICS by industries and rise in R&D investments
Challenges:
Lack of Skilled Personnel
Restraints:
Increase in cyber-attack threats and unavailability of authentication procedure to secure ICS and Lack of skilled professionals and awareness towards industrial security solutions
Opportunities:
Deployment of smart grid for the protection of critical infrastructure from cyber-attacks and Cloud computing for Industrial Control System (ICS)
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Manufacturers landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Industrial Controls Market
- Analysis about New Entrants in Industrial Controls Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Industrial Controls Study Sheds Light on
The Industrial Controls Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Industrial Controls industry Manufacturers. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Industrial Controls industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Manufacturers can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.