Market Insights
The global industrial controllers market is expected to exhibit a strong 11.1% CAGR over the forecast period from 2019 to 2025, according to the latest research report from Market Research Future (MRFR). The global industrial controllers market trends was valued at USD 63.21 billion in 2018 and is expected to grow to a valuation of USD 128.98 billion by 2025, according to the report. The global industrial controllers market is studied in great detail in the latest report from Market Research Future (MRFR), which includes a detailed analysis of the market’s historical growth trajectory and present condition. Major trends operating in the global industrial controllers market are examined in the report. Based on this information, accurate and reliable projections for the market’s likely growth trajectory over the forecast period till 2022 are presented in the report. Leading drivers and restraints operating on the global industrial controllers market are examined in the report. The impact of these major drivers and restraints on the global industrial controllers market is examined in detail in the report. Thus, the major factors enabling the market’s growth are enlisted and profiled in the report. Leading players operating in the global industrial controllers market are also profiled in the research report. The competitive landscape of the global industrial controllers market is thus examined in detail in the report. The report also examines the impact of the COVID-19 pandemic on the global industrial controllers market.
Industrial controllers are a vital component in industrial automation. They allow industries to remove human interference from industrial operations and control industrial processes by automated means. The growing demand for industrial automation is likely to be a major driver for the industrial controllers market over the forecast period. Industrial automation allows industrial entities to produce perfect copies of the desired model in the desired timeframe, eliminating human interference and errors and making the industrial production process error-free and efficient. Industrial automation leads to perfect time management, as robotic devices are responsible for the manufacturing processes. This has led to increasing adoption of automation solutions in the industrial sector in recent years. In spite of the high initial costs of installing industrial automation solutions, the long-term benefits of industrial automation are likely to result in widespread adoption of the same over the forecast period, leading to growing demand from the industrial controllers market.
The growing manufacturing industry in Asia Pacific is likely to be a major driver for the global industrial controllers market trends over the forecast period. Countries such as China have become major manufacturing powerhouses in recent years, with industrial growth in the region outstripping established powers such as North America and Europe. Growing industrialization in China and India, along with other ASEAN countries such as Malaysia and Indonesia, is likely to be a major driver for the global industrial controllers market over the forecast period.
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Market Segmentation
The Industrial Controls Market has been considered for type and application.
The types of industrial controllers are distributed control system (DCS), supervisory control and data acquisition (SCADA) and programmable logic control (PLC).
Control-based segments are open-loop control, ON-OFF control, closed-loop control and feed-forward control.
The applications of industrial controllers are manufacturing, automotive, energy & utilities, water & wastewater, oil & gas, aerospace & aviation and food processing & beverage and more.
Regional Study
The regional study of the industrial controllers market comprises APAC or Asia Pacific, MEA or the Middle East & Africa, South America, Europe and North America.
In 2018, the top market for industrial controllers was identified as North America, which is presumed to maintain its lead throughout the review period. The high uptake of cloud-based services and the rising use of smart grid solutions to safeguard the critical infrastructures in the wake of increasing cyber-attacks can offer lucrative opportunities to the industrial controls market. Since the automotive industry is largely responsible for the substantial adoption of industrial controllers as well as automation technologies, the region is highly conducive for the market growth in the following years. The supportive government policies and the reasonably priced natural gases also help the Canadian and the US chemical companies to set up plants, automate, control and expand their facilities, leading to business expansion in the region.
APAC’s future in the global market is quite promising, as it is anticipated to achieve the highest growth rate between 2019 and 2025. Colossal investments in digital technologies for automating the production processes can be touted as a chief growth booster in the regional market. The industrial environment in the region is thriving with each passing year, which can mean more business for the market participants in the years ahead. The rapid advancements in the latest digital technologies such as artificial intelligence or AI and internet of things or IoT also benefit the industrial controllers market in the region.
Top Competitors
The top competitors profiled in the report are Rockwell International, Siemens AG, General Electric, Belden Inc., Honeywell International, Schneider Electric, ABB Limited, Emerson Electric Corporation, Mitsubishi Electric, B&R Industrial Automation GmbH, Ascon Technologic, National Instruments, Red Lion Controls, Omron Corporation, to name a few.
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About Market Research Future:
Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
Our rapidly expanding market research company is assisted by a competent team of research analysts who provide useful analytics and data on technological and economic developments. Our deemed analysts make industrial visits and collect valuable information from influential market players. Our main goal is to keep our clients informed of new opportunities and challenges in various markets. We offer step-by-step assistance to our valued clients through strategic and consulting services to reach managerial and actionable decisions.
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Industrial Controller MarketIndustrial controls systems are advanced factory automations technologies that control the equipment and machines in the industries.
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.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 AnalysisOn the basis of geography, the market is studied for North America, Europe, Asia-Pacific, Middle East & Africa, and Central & South America.
The industrial controller market 2020 can likely be worth USD 128.98 Billion by 2025-end, confirms Market Research Future (MRFR).
The industrial controllers market anticipates incredible growth prospects, given the widespread demand across multiple industries like utility, automotive, semiconductors and electronics, because of their controlling ability in automated processes.
Moreover, the intense demand for IoT-based smart solutions along with automation in industries including manufacturing, electronics & semiconductor and utilities, also leads to escalated demand for industrial controls worldwide.More Information@ https://www.marketresearchfuture.com/reports/industrial-controllers-market-8644The soaring demand for bulk production across manufacturing industries boosts the need for industrial controls, considering the evolving needs of the ever-expanding population.
Industrial controllers are used for mass production of products in a short period without compromising the accuracy, thereby bringing down the production cost.
End-users take into account these qualities and make huge demand, which increases the global industrial controllers market share across the globe.Furthermore, automation is gaining fast traction in multiple industrial applications, since they lower the cost and induce high-quality results.
This way, the quality control challenge that usually crops up due to human error is restrained, in conjunction with reliability, faster and efficient work rate of systems.
