Industrial Controls Market by Type (Distributed Control System, Supervisory Control & Data Acquisition System, Manufacturing Execution System, Programmable Logic Controller (PLC), Product Lifecycle Management (PLM), Enterprise Resource Planning (ERP), Human Machine Interface (HMI) and Others), Component (Modular Terminal Blocks, Relays & Optocouplers, Surge Protectors, Marking Systems, Printing, Ferulles Cable Lugs, Handtools, Testers, Enclosure Products, PCB Connectors & Terminals, Heavy Duty Connectors, Analog Signal Conditioner, Electronic Housings, Power Supplies, Industrial Ethernet, and Remote IO), Application and End User (Automotive, Utility, Electronics & Semiconductors, Oil and Gas, Chemical and Petrochemical, Power, Life Sciences, Food and Beverage and Mining), and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America), global opportunity analysis and Industry Forecast, 2023-2030.
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The global Industrial Controls market size was estimated at USD 140 billion in 2023 and is projected to reach USD 239.9354 billion in 2030 at a CAGR of 8% during the forecast period 2023-2030.
The Prominent Players in the Industrial Controls market are:
· ABB Ltd.
· Emerson Electric Corporation
· Honeywell International Incorporation
· Kawasaki Robotics control system
· Mitsubishi Electric Factory Automation
· Omron Corporation
· Rockwell Automation Inc.,
· Siemens AG
· Schneider Electric SA
· Yokogawa Electric Corporation
· Endress+Hauser AG
· General Electric
· GLC Controls Inc. and More
The pandemic has had a significant impact on businesses around the world, with countries such as India and China bearing the brunt of the outbreak, but markets have recovered. The demand for industrial control systems in the industrial sector is expected to increase. The increasing use of various smart solutions compatible with IoT is increasing the demand for industrial control.
In addition, a great advantage for the supplier is the increase in the demand for mass production in the manufacturing industry, in the industrial sector there is a growing demand for industrial control equipment to monitor and control physical processes in the power and oil and gas industries. These factors have led to market expansion and increased demand for Industrial Controls solutions.
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Industrial controls systems refer to various automation devices, machines and equipment used in industry. They are developed to better control and monitor industrial processes and automate tasks to increase efficiency and reliability while improving quality. These systems include a variety of controls systems such as supervisory control and data acquisition or SCADA, programmable logic controllers or PLCs, and distributed controls systems or DCS.
They can help automate processes, critical infrastructure or remote monitoring and management. They also help collect data from remote devices, monitor the operation of distributed factories, and perform automated electromechanical processes. Rapid adoption of cloud-based services and growing automation trends in industry are important factors for the global industry. Market dominance. Automation helps industries achieve better accuracy and quality while reducing costs.
Growth is driven by the demand for intelligent controls systems and automation in various industries, mass production in industry and the adoption of industrial controls systems in various end-uses such as automotive and mining, as well as increasing R&D investments. in the industrial control market. However, increasing cyber-attacks, lack of authentication procedures, lack of experienced professionals and awareness of industrial security solutions are restraining the growth of the industrial controls market. In addition, the deployment of a smart grid to protect critical infrastructure against cyber-attacks and cloud computing for industrial controls systems creates lucrative opportunities for the industrial surveillance market.
North America to Dominate the Market
· North America is on the brink of the fourth industrial revolution. The data generated is used for high-volume production, while the data is integrated into various production systems throughout the supply chain. The region is also one of the world's largest automotive markets, with more than 13 major automotive manufacturers operating. The automobile industry was one of the largest income generators in the region. Due to significant adoption of industrial control systems and automation technologies in the automotive industry, the region offers a huge opportunity for market growth.
· Several key vendors operating in the country are launching new upgrades to support the growth of smart factories along with the development of industrial control systems. Such technological development indicates regional growth in the studied market.
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