According to the study undertaken by Astute Analytica, the global industrial controls market is anticipated to register a CAGR of 5.5% during the forecast period 2022-2030. The global industrial controls market was valued at US$ 203.6 Billion in 2021 and is forecasted to reach US$ 326.6 Billion by 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 systems (ICSs) are used for various kinds of social infrastructure and have extensive demand in multiple industries owing to their ability to control automated processes. Moreover, multiple industries, such as automotive, utility, energy, manufacturing, and transportation require an industrial control network in order to improve product quality, and plant efficiency, as well as to facilitate uniform production in industries. Furthermore, the most common type of ICSs is Supervisory Control and Data Acquisition (SCADA) systems and Distributed Control Systems (DCS).
Factor such as increasing focus on smart factories and rising demand for mass production drives the growth in the global industrial controls market over the forecast period. Also, the increasing focus of manufacturers and governing bodies on smart factories due to the emergence of new technologies further boost the market growth. Moreover, the increase in the adoption of edge computing in the manufacturing sector provides a lucrative growth trend in the industrial control market. Furthermore, as the industrial control systems are connected to the internet and carry critical data, they are often the focus of cyber-attackers worldwide. In addition, 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.
Market Insights
Global Industrial Controls Market Insights by Component
Based on component, the global industrial controls market is 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) and Intelligent Electronic Device (IED). The Industrial Automation and Control System (IACS) segment holds the highest share in 2021 and is also expected to grow at the highest CAGR during the forecast period. Moreover, these systems help to ensure the supervision and control of a series of processes involved in the production and delivery of goods and services, especially in essential services, utility, and telecommunication.
Global Industrial Controls Market Insights by Type
Based on type, the global industrial controls market is classified into Supervisory Control and Data Acquisition (SCADA), Distributed Control Systems (DCS), process control systems, safety instrumented systems, and energy management systems. The Distributed Control Systems (DCS) segment holds the largest share in 2021 in the industrial controls market. Also, they help to mitigate designs and integration of risks and are used in various industries like chemical plants, oil and gas industries, food processing units, nuclear power plants, automobiles etc. Moreover, the process control systems segment is expected to grow with the highest CAGR over the forecast period. They make sure that industrial processes are carried out efficiently and deliver the desired output. These are increasingly being adopted in manufacturing units in order to manage energy and power consumption by devices, lower manufacturing costs, and enhance product quality.
Global Industrial Controls Market Insights by Network Component
In terms of network component, the global industrial controls market is segmented into fieldbus, communication routers, firewall, MODEMS and remote access points. The Fieldbus segment dominated the industrial controls market in 2021. Whereas the 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. Moreover, they enable organizations to extend their corporate wireless network SSIDs to mobile, remote, and temporary workspaces.
Global Industrial Controls Market Insights by End User
Based on end-user, the global industrial controls market is classified into oil and gas, chemical, pharmaceutical, food and beverage, medical device, automotive, aerospace and defense, and others. The automotive segment holds the highest share in the industrial controls market in 20021. The rising need for factory automation and increasing production of vehicles have resulted in the large-scale adoption of smart industrial controls in manufacturing units. Furthermore, the food and beverage segment is expected to grow with the highest CAGR over the forecast period. Moreover, real-time data tracking is very crucial in the food industry as consumers nowadays expect traceability throughout the entire supply chain.
Global Industrial Controls Market Insights by Regional Outlook
By region, Europe holds the largest market share in 2021 and is also anticipated to project the highest CAGR over the forecast period. Europe is extensively focusing on adopting industrial automation in various industries, with major firms launching industrial automation products in the market. Moreover, Europe strengthen to become a leader in manufacturing innovation and factory automation in the coming years.
Top 10 Industrial Control Systems (ICS) cyber security attacks
Strategies adopted by Key Market Players
Competitive Insight
Global Industrial Controls Market is highly competitive in order to increase its presence in the marketplace. Some of the key players operating in the market include 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.
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:
By Type segment of the Global Industrial Controls Market is sub-segmented into:
By Network Component segment of the Global Industrial Controls Market is sub-segmented into:
By End User segment of the Global Industrial Controls Market is sub-segmented into:
By Region segment of the Global Industrial Controls Market is sub-segmented into:
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