Market Overview
The industrial controller market 2020 can likely be worth USD 128.98 Billion by 2025-end, confirms Market Research Future (MRFR). MRFR also projects that the market can progress at a rate of 11.1% between 2019 and 2025, which is the appraisal period.
Key Drivers and Top Challenges
Industrial control systems are sought-after tools in organizations of different industries, since they offer energy efficiency properties when used in manufacturing processes. 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.
The 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. Industrial controls also provide system integrators to develop automation, providing consistent results with better productivity and enhanced product quality. 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.
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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.
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