Global Industrial Controls Market Report to 2030 - Featuring Honeywell International, General Electric, Mitsubishi Electric, Rockwell Automation and Omron Among Others - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Global Industrial Controls Market, by Components, by Type, by Network Component, End-user, Estimation & Forecast, 2017-2030" report has been added to ResearchAndMarkets.com's offering.

The global industrial controls market held a market value of USD 203.6 billion in 2021 and is estimated to reach USD 326.6 billion by the year 2030.

Companies Mentioned

• Emerson Electric Co.
• ABB Ltd.
• Endress+Hauser AG
• Honeywell International Inc.
• General Electric
• Mitsubishi Electric Corp.
• Rockwell Automation Inc.
• Omron Corporation
• Schneider Electric SE
• Yokogawa Electric Corporation
• Siemens AG

The market is projected to list a CAGR of 5.5% during the forecast period. The market volume is accounted to grow at a CAGR of 4.2% over the predicted period.

Industrial controls are necessary in manufacturing markets for proper system and process mechanisms. The industrial controls market is growing tremendously at the rate of 5.5% owing to the increasing focus smart factories, coupled with investments in the manufacturing sector. Moreover, the surge in mass production demand has also increased the growth in the industrial controls industry.

Furthermore, the rising demand for industrial controls has also pushed companies to expand their presence in the industry. For instance, in September 2020, Dover Corporation, an American conglomerate manufacturer of industrial products, acquired XanTec Steuerungs und EDV-Technik (Maag). The acquisition enhanced Maag's automation solutions with IoT-enabled technology.

On contrary, the vulnerability of industrial controls to the ever-increasing cyber-attacks is decreasing the market growth to a certain limit.

Growth Influencers:

Increasing focus towards smart factories

The rising inclination towards smart cities and smart factories is driving the growth for industrial controls. For instance, according to National Smart Cities Investment Guide of the International Data Corporation (IDC), global investment in smart city projects is total nearly USD 124 billion in 2020, a rise of 18.9% over 2019. Smart factories require top-notch industrial controls and the companies operating in the industry are providing products of high value, thus fueling the market growth.

Rising investments in R&D for manufacturing innovation

The research carried out by public agencies in the field of manufacturing has increased demand for top-notch industrial controls. For instance, Europe-based companies surged investments in research and development in ICT by 7.2%. Several companies have started investing wisely to match the value advantage in this sector.

Segments Overview:

The global industrial controls market is segmented into components, type, network component, and end user.

By Components

• IT and OT
• Programmable Logic Controller (PLC)
• Remote Thermal Unit (RTU)
• Control Loop
• Industrial Automation and Control System (IACS)
• Programmable Automation Controller (PAC)
• Human Machine Interface (HMI)
• Master Thermal Unit (MTU)
• Intelligent Electronic Device (IED)

By Type

• Supervisory Control and Data Acquisition (SCADA)
• Distributed Control Systems (DCS)
• Process Control System
• Safety Instrumented System
• Energy Management System

By Network Component

• Fieldbus
• Communication Router
• Firewall
• MODEMS
• Remote Access Points

By End User

• Oil and Gas
• Chemical
• Pharmaceutical
• Food and Beverage
• Medical Device
• Automotive
• Aerospace and Defence
• Others

Regional Overview

By region, the global industrial controls market is divided into North America, Asia Pacific, Europe, Middle East & Africa, and South America.

The European industry for industrial controls held the largest market share of more than 35% in 2021 owing to the increasing industrialization in the Western countries of Europe, including Germany, UK and France.

The Asia Pacific industry for industrial controls is growing at a steady rate and is expected to surge during the forecast period due to the rising R&D spend in the manufacturing sector by top companies operating in the region.

Key Questions Answered

• What is the market size and forecast of the global industrial controls market?
• What are the inhibiting factors and impact of COVID-19 on the global industrial controls market during the assessment period?
• Which are the products/segments/applications/areas to invest in over the assessment period in the global industrial controls market?
• What is the competitive strategic window for opportunities in the global industrial controls market?
• What are the technology trends and regulatory frameworks in the global industrial controls market?
• What is the market share of the leading players in the global industrial controls market?
• What modes and strategic moves are considered favorable for entering the global industrial controls market?

For more information about this report visit https://www.researchandmarkets.com/r/c0np1i-industrial?w=4

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