Industrial Controls Market - Industry Dynamics, Market Size, And Opportunity Forecast To 2030

The Global Industrial Controls Market is estimated to witness a rise in revenue from US$ 203.60 Bn in 2021 to US$ 326.60 Bn by 2030. The market is registering a CAGR of 5.5% during the forecast period 2022-2030. Moreover, in terms of volume, the global industrial controls market is expected to project a CAGR of 4.2% during the forecast period 2022-2030. 

Industrial control units help in assessing process control and quality control of manufacturing process. Industrial Control Systems (ICS) are connected to various components like computers, modems, controllers, communications paths and other network devices. Industrial control systems (ICSs) are used for various kinds of social infrastructure, in order to maintain and perform various industrial tasks with high precision and reliability.

Market Dynamics

The major factor responsible for the growth of the global industrial controls market includes the increasing focus on smart factories and rising demand for mass production. Factories are no longer a simple place for mass production of products, it has revolutionized and upgraded their manufacturing process with the rapid integration of smart devices like industrial control systems. The increasing focus on smart factories has increased the use of industrial control systems in emerging smart factories. Moreover, the increasing population and their rising demand for more products have made large companies pay more attention to mass production. Furthermore, as the industrial control systems are connected to the internet and carry critical data, they are often the focus of cyber-attackers worldwide. Therefore, the vulnerability of industrial controls to cyber-attacks restricts market growth. In addition, rising investments in R&D for manufacturing innovation provide a lucrative growth opportunity for the industrial controls market.

Report Summary

The study of the global industrial controls market considers various market determinants, industry value chain analysis, and competitor analysis of the market. The report discusses the analysis of the industrial controls industry for the period 2017-2030, where the base year is 2021 and the forecast period is 2022-2030. The report provides a detailed analysis of the global industrial controls market across 15 Chapters and 229 pages. The report includes data presentation across 72 tables and 121 statistical figures.

The report provides PESTLE analysis, which is a tool to examine the external market environment factors that have an impact on the industry. The PESTLE analysis examines the Political, Economic, Social, Technological, Environmental, and Legal factors in the external environment. Thus, sufficiently examining the threats and weaknesses of the industry. The research report also provides Porter’s five forces analysis wherein the bargaining power of buyers is the moderate and competitive rivalry is high. 

The subsequent section provides details of the market analysis based on different segments such as components, type, network component, end-user and region. The report includes a detailed study of the value chain of the industry. It includes technology providers, assembling, distributer, and end-users. The report also covers extensively the key competitors in the market for global industrial controls. 

Impact of COVID-19 on Global Industrial Controls Market 

The sudden outbreak of COVID-19 has resulted in massive disruption in the supply chain of important components like semiconductors, chips, and other basic raw materials along with acute labor shortage. The industrial control market has been significantly impacted by the COVID-19 outbreak as production facilities of major sectors like automobile, electronics, food & beverage, etc. were shut down. These long-term shutdowns because of shortages of parts and labor and most importantly, because of Covid-19 restrictions, continued to limit manufacturing's growth potential.

During the pandemic, automobile and component manufacturing plants are being shuttered around the world, resulting in low demand for distributed control units for the engine manufacturing process. Similarly, the food & beverage sector, which is the second-largest user of the industrial controls market, met with the worst outcomes of the pandemic with restaurants, and food outlets being forced to close during the peak of the pandemic thereby, diminishing B2B sales. 

Key Takeaways from the Global Industrial Controls Market Report

• In terms of components, the Industrial Automation and Control System (IACS) segment held the largest share in the market in 2021 and is expected to grow at the highest CAGR during the forecast period. The growing adoption of Industry 4.0 and IIoT, and the growing wireless sensors market drive the IACS segment growth.
• On the basis of type, the Distributed Control Systems (DCS) segment holds the largest market share in 2021 owing to the rising use of smart devices and field buses in large and complex industrial processes. Moreover, the process control systems are expected to grow with the highest CAGR over the forecast period.
• Based on network component, the fieldbus segment dominated the industrial controls market in 2021. Moreover, remote access points segment is anticipated to grow at the highest CAGR over the forecast period due to the increasing trend of remote work culture.
• In terms of end user, the automotive segment holds the highest share in the industrial controls market in 20021. Furthermore, the food and beverage segment are expected to grow with the highest CAGR over the forecast period.
• By region, Europe accounted for the largest share of the industrial controls market in 2021 and is also expected to project the highest CAGR over the forecast period. Moreover, the increase in demand for modernization of oil & gas, water & wastewater, and power infrastructures among others drives the growth in the region.

Competitive Landscape

The key players in the Global Industrial Controls Market are Emerson Electric Co., Endress+Hauser AG, Honeywell International Inc., Mitsubishi Electric Corp., Omron Corporation, Rockwell Automation, Inc., Schneider Electric SE, Siemens AG, Yokogawa Electric Corporation, GE Digital and ABB Ltd. (ABB Ability) among others. Through extensive research, it is found that big players have adopted various competitive strategies such as mergers & acquisitions in order to have a grip on emerging markets. Furthermore, leading companies are expanding their geographical boundaries by acquiring small brands and domestic companies.

Segmentation Overview 

Global Industrial Controls Market is segmented based on components, type, network component, end-user, and region. The industry trends in the global industrial controls market are sub-divided into different categories in order to get a holistic view of the global marketplace. 

Following are the different segments of the Global Industrial Controls Market:

By Components segment of the Global Industrial Controls Market is sub-segmented into:

• IT and OT
• Programmable Logic Controller (PLC)
• Remote Thermal Unit (RTU)
• Control Loop
• Industrial Automation and Control System (IACS)
• Programmable Automation Controller (PAC)
• Human Machine Interface (HMI)
• Master Thermal Unit (MTU)
• Intelligent Electronic Device (IED)

By Type segment of the Global Industrial Controls Market is sub-segmented into:

• Supervisory Control and Data Acquisition (SCADA)
• Distributed Control Systems (DCS)
• Process Control System
• Safety Instrumented System
• Energy Management System

By Network Component segment of the Global Industrial Controls Market is sub-segmented into:

• Fieldbus
• Communication Router
• Firewall
• MODEMS
• Remote Access Points

By End User segment of the Global Industrial Controls Market is sub-segmented into:

• Oil and Gas
• Chemical
• Pharmaceutical
• Food and Beverage
• Medical Device
• Automotive
• Aerospace and Defense
• Others

By Region segment of the Global Industrial Controls Market is sub-segmented into:

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • Western Europe
    • The UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Western Europe
  • Eastern Europe
    • Poland
    • Russia
    • Rest of Eastern Europe
• Asia Pacific
  • China
  • India
  • Japan
  • Australia & New Zealand
  • ASEAN
  • Rest of Asia Pacific
• Middle East & Africa (MEA)
  • UAE
  • Saudi Arabia
  • South Africa
  • Rest of MEA
• South America
  • Argentina
  • Brazil
  • Rest of Latin America