According to a new report published by Report Ocean titled, ”Industrial Controls Market: Global Opportunity Analysis and Industry Forecast, 2018 – 2025,“the industrial controls market accounted for $117.37 billion in 2017, and is expected to reach $173.96 billion by 2025, growing at a CAGR of 5.30% from 2018 to 2025. In 2017, North America dominated the global market share in terms of revenue by accruing 51.31% share, owing to heavy investments in power and oil & gas sectors. Moreover, rise in need for automation is a major factor that fuels the industrial controls market growth in this region.
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In addition, upsurge in demand for energy-efficient solutions and rise in need to minimize wastage of resources in various process industries are expected to provide lucrative growth opportunities to market players to expand their business in the region. Furthermore, most of the network security organizations have strong presence in this region, which is expected to drive the growth of the market during the forecast period.
Europe witnessed significant growth in industrial controls market in 2017, owing to increase in demand for control systems in the oil & gas industry. The need for modernization of oil & gas, water & wastewater, and power infrastructure is increasing rapidly in Europe, where industrial controls are used to analyze the drilling ground and for maintaining the drill speed. This factor significantly drives the growth of the European industrial controls market. However, increase in cyber-attack threats in critical infrastructure hampers the market growth.
Industrial controls is a collective term used to define various kinds of control systems and associated instrumentation, which includes the devices, networks, systems, and controls used to operate and automate industrial processes. Industrial control systems include various automation equipment, machines, and components. These systems are developed to monitor, control, and perform various industrial tasks and processes with high precision, improved product quality, and reliability.
Prominent players, such as ABB Ltd., Emerson Electric Corporation, Honeywell International Incorporation, Kawasaki Robotics, Mitsubishi Electric Factory Automation, Omron Corporation, Rockwell Automation, Inc., Siemens, Schneider Electric SA, and Yokogawa Electric Corporation, have focused on developing new products and components to sustain the competition and expand their presence in industrial controls market.
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The industrial controls market is segmented into components, control system, and their applications in end user industries. It covers types of control systems including distributed control system (DCS), supervisory control & data acquisition system (SCADA), manufacturing execution system (MES), and others. Depending on components, the market is categorized into modular terminal blocks, relays and optocouplers, surge protectors, marking systems, printing, ferulles cable lugs, handtools, testers, enclosure products, PCB connectors and terminals, heavy duty connectors, analog signal conditioner, electronics housings, power supplies, industrial Ethernet, and remote IO. The end users covered in the report include automotive, energy & utility, electronics & semiconductors, mining, and others. Based on region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Client Focus Area in this Report
Is the influence of COVID-19 and the Russia-Ukraine conflict on the global Industrial Controls Market taken into account in this report?
Yes. We have definitely taken COVID-19 and the Russia-Ukraine war into account throughout the research because of their significant effects on the global supply chain relationships and raw material price system. We also go into great detail about the effects of the pandemic and the war on the Industry.
Can I change the report’s scope and make it my own to meet my needs?
Yes. Multidimensional, deep-level, and high-quality requirements that are specifically tailored to our customers can help them accurately grasp market opportunities, easily confront market challenges, properly formulate market strategies, and act quickly, giving them enough time and space for market competition.
How did the list of important players for the report come about?
We specifically study both the top businesses that are influential on a worldwide scale as well as the regional small and medium-sized businesses that play vital roles and have significant growth potential in order to clearly reflect the competitive condition of the industry.
What are the key sources of your data?
In putting together the report, both primary and secondary data sources were consulted. Comprehensive interviews with important thought leaders, subject-matter specialists (such as directors, CEOs, and marketing executives), downstream distributors, and end-users are examples of primary sources. Research of major firms’ annual and financial reports, public records, fresh journals, etc., are examples of secondary sources. We also collaborate with a few outside datasets.
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Key Findings Of The Industrial Controls Market:
In 2017, the distributed control system segment dominated the global industrial controls market, in terms of revenue, and is projected to grow at a CAGR of 4.2% during the forecast period.
The testers segment is projected to witness highest revenue during the forecast period.
Asia-Pacific is expected to exhibit the highest CAGR during the forecast period.
Table of Content:
- Report Overview
- Global Growth Trends
- Competition Landscape by Key Players
- Data Segments
- North America Market Analysis
- Europe Market Analysis
- Asia-Pacific Market Analysis
- Latin America Market Analysis
- Middle East & Africa Market Analysis
- Key Players Profiles Market Analysis
- Analysts Viewpoints/Conclusions
- Appendix
Here’s how this research report helps the Entrepreneurs and CEOs:
- The most thorough find out about on this industry, encompassing 12 regions, will furnish you an absolutely worldwide view.
- Recognize the influence of the coronavirus on the market increase and how it is anticipated to alternate and increase as the virus’s results fade.
- Develop countrywide and regional plans primarily based on lookup and evaluation carried out locally.
- Find funding possibilities in developing segments over 2022-2030
- Top operate opponents with the aid of the usage of forecast records as nicely as market drivers and trends.
- Recognize client desires based totally on latest market lookup results.
- Performance comparisons with massive rivals.
- For higher planning, take use of the connections between essential records sets.
- Appropriate for the use of high-quality, truthful facts and evaluation to guide your interior and exterior presentations.
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