Summary
A new market study, titled “Global Industrial Controls and Factory Automation Market , Industrial Controls and Factory Automation , Industrial Controls and Factory Automation Market Share , Industrial Controls and Factory Automation Market Forecast ” has been featured on WiseGuyReports.
The Global Industrial Controls and Factory Automation Market were estimated as USD 109.0 Billion in 2014 and is projected to witness a stable growth over the forecast period. Growing demand of automation for streamlining the processes through real time gathering and control in Chemical, Oil & gas, Water treatment, Automotive industries is projected to fuel the market growth.
Extensive application of technology in manufacturing processes, need for supply chain and mass production for catering the growing population are few factors positively influencing the industry growth. Furthermore, growing government initiatives for adoption of industrial automation in various industries is anticipated to fuel the industry growth.
Automation in the industry aids in monitoring the production, ensuring fast production, product quality, reducing waste, while minimizing the costs, standardizing the manufacturing processes. This also provides reliable and flexible solutions in manufacturing plants. The emerging application which includes electronic power distribution systems, heating ventilation air conditioning (HVAC), and human machine interface (HMI) is projected to further spur the market growth over the forecast period.
Based on the product, the automation market is categorized into Supervisory Control and Data Acquisition (SCADA), Manufacturing Execution System (MES), Distributed Control System (DCS), Programmable Logic Controller (PLC), Drives, Relays and Sensors. The end users include Process industries and Discrete industries.
The MES is anticipated to acquire the major share in the industry over the forecast period due to its association with tasks of production management in a comprehensive software system. The process industry is also projected to major share in end-user segment owing to the rising cost pressure on manufacturers for optimizing the production process.
Although, lack of expertise for handling the control and factory automation and initial high capital investments for installation may impede the industry growth. However, introduction of cost-effective models for adopting industrial control and intuitive and user friendly model of automation system is anticipated to create growth opportunities.
Europe and North America regions are estimated to attain the foremost share of the industry. Increasing focus towards the renewable energy in the European countries is projected to build the demand for the automation solutions over the forecast period. Furthermore, increasing demand for the building the smart factories in manufacturing based countries such as China and Germany has created an emerging environment for automating their existing manufacturing facilities.
Asia Pacific region is also anticipated to emerge as a promising market owing to the increased industrialization and rising awareness for automation control with supportive government policies in various countries which include China, Japan, and India.
Key players in the industry include ABB Ltd, Emerson Electric, General Electric Co., Honeywell International, Schneider Electric, Ametek Inc., and Siemens Ag. Other players include Yokogawa Electric Corporation, Bosch Automation, Mitsubishi Corporation, National Instrument Corporation, Omron Corporation and Rockwell Automation.
The developers and vendors of ERP solutions are increasingly offering cloud-based solutions as automation solution for reduce the implementation cost and on-demand customization for meeting the specific requirements of various businesses.
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Our reports have been revised for market size, forecasts, and strategies to take on 2021 after the COVID-19 impact: https://www.thebusinessresearchcompany.com/global-market-reportsThe Industrial Controls Global Market Report 2020-30 by The Business Research Company describes and explains the global industrial controls market and covers 2015 to 2020, termed the historic period, and 2020 to 2025, termed the forecast period, along with further forecasts for the period 2025-2030.
The report evaluates the market across each region and for the major economies within each region.The Industrial Controls Global Market Report 2021 covers industrial controls market drivers, industrial controls market trends, industrial controls market segments, industrial controls market growth rate, industrial controls market major players, and industrial controls market size.View Complete Report: https://www.thebusinessresearchcompany.com/report/industrial-controls-global-market-reportThe industrial controls market report provides an in-depth analysis of the impact of COVID-19 on the global industrial controls industry, along with revised market numbers due to the effects of the coronavirus and the expected industrial controls market growth numbers 2021-2030.Industrial Controls Global Market Report 2021 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The chapter on the impact of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market.
The chapter also covers markets which have been positively affected by the pandemic.Request For The Sample Now: https://www.thebusinessresearchcompany.com/sample.aspx?id=2649=smpThe global industrial controls market is expected to grow from $45.82 billion in 2020 to $47.34 billion in 2021 at a compound annual growth rate (CAGR) of 3.3%.
The market is expected to reach $49.6 billion in 2025 at a CAGR of 1%.The report covers the industrial controls market segments-1) By Control System: Distributed Control System (DCS), Supervisory Control & Data Acquisition System (SCADA), Manufacturing Execution System (MES).2) By End User: Automotive, Utility, Electronics & Semiconductor, Mining, Others.3) By Component: Modular Terminal Block, Relays And Optocouplers, Surge Protectors, Marking Systems, Printing, Ferrules Cable Lugs, Hand Tools, Testers, Enclosure Products, PCB Connectors And Terminals, Heavy Duty Connectors, Analog Signal Conditioner, Electronics Housings, Power Supplies, Industrial Ethernet, Remote IO.About The Business Research Company: The Business Research Company is a market research and intelligence firm that excels in company, market, and consumer research.
It has over 200 research professionals at its offices in India, the UK and the US, as well a network of trained researchers globally.
