Industrial controls systems are advanced factory automations technologies that control the equipment and machines in the industries. The emergence of automation technologies has revolutionized the manufacturing sectors witnessing huge uptake of these technologies. Automation signifies to reduced human intervention, reduced human errors and hence reduced operational cost which is encouraging various industrial units to adopt the control systems. The huge uptake defines the growing market landscape of industrial controls systems.
Acknowledging the kind of traction, the market is garnering currently, Market Research Future (MRFR) in its recently published study report asserts that the global industrial controls systems market will grow enormously by 2023 registering a phenomenal CAGR throughout the forecast period (2018 to 2023).
These industrial control systems comprise uses of robotics to gain the advantages in controlling, better precision, reduced assembly time, reduction in labour costs, and reduction in the risk of exposure to production hazards which drive the market growth.
Additionally, adoption of IOT and advancement in M2M communication technology are factors propelling the growth of the market. At the same time these systems play a significant role in reducing energy consumption and increasing operational efficiency that act as key drivers for the market.
On the other hand, factors such as the lack of technical efficiency among the professionals taking care of implementation of these processes are expected obstruct the growth of the market to some extent. Nevertheless, this challenge may get ruled out soon with the emergence of industrial training programs.
Also, to shift from traditional manufacturing to smart manufacturing demands high investment; whereas, due to low profit margin SMEs sometimes can’t arrange funds. These limited re-investment opportunities are factors restraining the market growth. Alternatively, industrial revolution 4.0 would create opportunities in the market.
Regional Analysis
On the basis of geography, the market is studied for North America, Europe, Asia-Pacific, Middle East & Africa, and Central & South America. Among the regions mentioned above, North America is expected to dominate the market throughout the forecast period. The factors boosting the growth of the market in North America include the presence of the largest market for oil & gas and increasing focus on digitization of oil fields with the adoption of industry 4.0, presence of key market players in the automation industry. However, the lack of a skilled workforce and limited awareness about factory automation methods can hamper the growth of the industrial controllers market. On the other hand, increased adoption of industrial robots, adoption of automation in mining and water treatment, and the presence of foreign developers of automation operating in Canada are fuelling the growth of the industrial controllers market.
Asia-Pacific region is expected to show the highest CAGR during the forecast period. The growth is anticipated due to emerging economies such as China and India, and developed countries such as South Korea, Japan and Singapore. China experiences a high demand for automation in oil & gas and metal & mining industries. The country’s government also favors the manufacturing of industrial robots. Moreover, the presence of key electronic component manufacturers in the region also fuels the market growth.
Key Players:
Fervent players driving the market for industrial control systems include Schneider Electric (France), ABB Ltd (Switzerland), Honeywell International Inc (US), Rockwell Automation (US), Siemens AG (Germany), Omron Co (Japan), General Electric Co (US), Emerson Electric Co (US)., Yokogawa Electric Co (Japan), and Alstom (France).
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Automation signifies to reduced human intervention, reduced human errors and hence reduced operational cost which is encouraging various industrial units to adopt the control systems.
The huge uptake defines the growing market landscape of industrial controls systems.Acknowledging the kind of traction, the market is garnering currently, Market Research Future (MRFR) in its recently published study report asserts that the global industrial controls systems market will grow enormously by 2023 registering a phenomenal CAGR throughout the forecast period (2018 to 2023).These industrial control systems comprise uses of robotics to gain the advantages in controlling, better precision, reduced assembly time, reduction in labour costs, and reduction in the risk of exposure to production hazards which drive the market growth.Additionally, adoption of IOT and advancement in M2M communication technology are factors propelling the growth of the market.
Nevertheless, this challenge may get ruled out soon with the emergence of industrial training programs.Industrial controllers increase product quality, quantity, and reliability while reducing design and production costs by using new integrated services and solutions.
The global industrial controller market has been segmented based on type, control, application, and region.By type, the market has been segmented into programmable logic control (PLC), distributed control system (DCS), and supervisory control and data acquisition (SCADA).
PLCs are also capable of handling complicated logic operations and facilitating fault diagnostics.
The various functions of PLCs are driving their use in industries such as chemicals, cement, food, and paper.
Industrial Controllers Market ReportGlobal Industrial Control Systems Market — Competitive AnalysisHighly competitive industrial control systems market appears to be fragmented owing to the presence of several players accounting for a substantial market share.
Well-established players incorporate collaboration, acquisition, partnership, product & technology launch, and expansion to gain a competitive advantage and thus to maintain their positions in the market.
Expansion in emerging market is helping those established key players to extend their sales networks.Key Players:Fervent players driving the market for industrial control systems include Schneider Electric (France), ABB Ltd (Switzerland), Honeywell International Inc (US), Rockwell Automation (US), Siemens AG (Germany), Omron Co (Japan), General Electric Co (US), Emerson Electric Co (US)., Yokogawa Electric Co (Japan), and Alstom (France).Industry/Innovation/Related News:November 20, 2018 — — Dragos, Inc. (Germany), a leading developer of Industrial Controls Systems announced its collaboration with General Electric Company (US), a multinational conglomerate to strengthen industrial threat detection and response.
The Duo, together will leverage their respective expertise to help ICS owners and operators detect and respond to industrial cyber security threats more effectively.Industrial controllers increase product quality, quantity, and reliability while reducing design and production costs by using new integrated services and solutions.
PLCs are ruggedized computers used for the automation of electromechanical processes across industries.
PLCs are also capable of handling complicated logic operations and facilitating fault diagnostics.
