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 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 forecast 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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Competitive Leaderboard:
Leading players in the global industrial controllers market include Belden Inc., Emerson Electric Corporation, Rockwell International, Honeywell International, ABB Ltd., Schneider Electric, B&R Industrial Automation GmbH, Red Lion Controls, Omron Corporation, General Electric, Mitsubishi Electric, Siemens AG, Ascon Technologic Srl, and National Instruments.
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.
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Regional Analysis:
North America dominates the global industrial controllers market due to widespread adoption of industrial automation solutions in the region’s manufacturing industry. Asia Pacific is likely to emerge as a major regional market for industrial controllers over the forecast period due to the increasing industrialization in China, India, and other APAC nations.
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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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