Industrial Controllers Market is set to grow at a CAGR 5.91%, estimated to reach of USD 170.12 billion by 2030
Industrial Controllers Market Overview
The Global Industrial Controller Market was valued at USD 63.21 Billion in 2018; it is expected to reach USD 170.12 billion by the end of the forecast period at a CAGR of 5.91%. Industrial controllers reduce human intervention and allow industrial facilities to improve product quality, quantity, and reliability while lowering product manufacturing and design costs, thus helping in increasing Industrial Controllers Market Demand. Government initiatives to promote industrial automation, adoption of emerging technologies such as IoT and AI in industrial environments, emphasis on industrial automation and optimum resource utilization, and fiscal policies formulated by regional financial institutions to keep manufacturing facilities afloat amidst the COVID-19 crisis are among the factors Industrial Controllers Market Developments. Various automation equipment, types of machinery, and components make up Industrial Controllers Market Developments. These systems are designed to monitor, regulate, and automate a variety of industrial tasks with high precision, increased product quality, and reliability.
COVID-19 will hurt the Industrial Controllers Market in 2020, resulting in lower shipments of industrial control and factory automation components and revenues. As a result, the Industrial Controllers Market Size and Industrial Controllers Market Share trajectory in the first half of 2020 is expected to slow. The Industrial Controllers Market Demand is likely to end in the second half of the year, as demand is expected to rise as people become more concerned about smart automation, energy efficiency, and resource efficiency. The COVID-19 epidemic has had a significant influence on the industrial control and factory automation value chain during the Industrial Controllers Market Forecast. The United States, China, South Korea, and Japan, which have been hit hard by the pandemic, account for a large portion of worldwide industrial control and factory automation manufacturing. Due to the global slowdown, discrete and process sectors are experiencing poor demand, which is projected to continue for the Industrial Controllers Market Analysis.
The global industrial controllers market is predicted to rise due to increased demand for automation from manufacturing facilities and other industries. Process control functionality is provided by PCs, programmable logic controllers (PLCs), and distributed control systems (DCS) at the automation control level in industrial automation. Multiple servers at various locations in SCADA, PLC, and DCS systems necessitate additional maintenance and management of individual servers, which adds to the investment costs for businesses. The rise of the linked enterprise idea is propelling the worldwide industrial control and factory automation market forward. For improved production activities, efficient information exchange between different units in industries is critical. The use of IoT and IP networks, allows manufacturers to better comprehend the process of converting raw materials into completed commodities. The demand for Industrial Controllers Market is being driven by an increased need for increased productivity as well as the manufacture of high-quality products. The adoption of advanced production systems and processes offered by industrial control and factory automation can meet this requirement.
The adoption of the newest automation technologies, such as SCADA, DCS, RTU, PLC, and HMI, is required when establishing a new automated manufacturing plant. SCADA data collecting aids in the reduction of calculation errors while also improving product quality and the efficiency of industrial plants. To build up these manufacturing units, large financial investments in equipment, software, and training are required. Investing such a large quantity is difficult for new entrants who are building their first manufacturing. As a result, before installing industrial control and factory automation systems and solutions, these businesses must conduct a thorough analysis of their return on investment. However, many businesses are unable to replace their existing legacy systems due to the high prices of new and sophisticated technologies, as well as the lack of interoperability with legacy systems. Connecting these legacy systems to current technologies is difficult since they interact through proprietary protocols.
As the demand for automation in the industrial sector grows, industrial control systems are being used primarily to automate and control processes. Furthermore, numerous manufacturing industries are concentrating on achieving safe, quick, and efficient production outputs, which increases the demand for industrial automation even higher. Due to the trend of automation and new technical breakthroughs, several businesses are likely to use industrial robots. For companies in the industrial controllers market, the adoption of industrial robotics is projected to provide a growth opportunity.
The Industrial Controllers Market has been bifurcated into various segments that will help the market to achieve the highest CAGR during the research period and provide a better Industrial Controllers Market Outlook. The Industrial Controllers Market Segments are as follows:
Industrial Controllers Market, By Type
Industrial Controllers Market, By Control
Industrial Controllers Market, By Application
Industrial Controllers Market, By Region
During the historic forecast period, North America dominated the industrial controller market, and this trend is projected to continue over the forecast period. Government-favored policies to aid industrial automation and rising demand for intelligent and automated manufacturing systems are two main drivers driving this market's growth. The Asia-Pacific area, on the other hand, is predicted to have the greatest CAGR during the forecast period. Because the construction sector, which is the key end-user of industrial control & factory automation, is increasing at a healthy rate, APAC has been a major contributor to the growth of the industrial control & factory automation market. Usage of industrial automation and factory automation components and systems, such as SCADA, DCS, industrial sensors, and industrial robots, is aided by the expanding population in this region's emerging countries, as well as environmental awareness. The adoption of industrial control and factory automation in the region is being aided by the surge in green building uptake and government measures to regulate energy-efficient practices across the commercial sector.
The presence of many global, regional, and local vendors characterizes the Global Industrial Controller Market. Cost, product quality, reliability, and aftermarket services are all factors that the vendors compete on. To compete and flourish in a fiercely competitive industry, vendors must deliver cost-effective and high-quality technologies. Financial position, segmental R&D expenditure, product developments, corporate strength, product portfolio, strategy analysis, and major innovations in the market are among the elements considered in the market share study. Based on their place of origin, presence, recent key innovations, product diversity, and industry experience, the key players in the industrial controller market are identified across all major regions. Some of the major key players are:
Industrial Controllers Market Recent Developments
This report includes an analytical depiction of the worldwide industrial controls industry, as well as current trends and future projections to show potential investment areas. The goal of the entire industrial controls market analysis is to identify profitable trends to obtain a stronger foothold. The document provides information on significant drivers, limits, and opportunities, as well as comprehensive impact analysis. To gauge financial competency, the present industrial controls market projection is statistically examined from 2020 to 2030. The study contains market trends for industrial controls as well as market share for top manufacturers.
|Market Size||USD 170.12 billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Control, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||National Instruments, Ascon Technologic, Siemens AG, Mitsubishi Electric, General Electric, Omron Corporation, Red Lion Controls, B&R Industrial Automation GmbH, Schneider Electric, ABB Limited, Honeywell International, Rockwell International, Emerson Electric Corporation, and Belden Inc|
|Key Market Opportunities||The adoption of industrial robotics is expected to offer a growth opportunity for players.|
|Key Market Drivers||
The Global Industrial Controller Market was valued at USD 63.21 Billion in 2018; it is expected to reach USD 170.12 billion by the end of the forecast period.
The market can achieve a growth rate of 5.91% during the review period.
The demand for automation by manufacturing facilities and similar industries is expected to drive the growth of the global industrial controllers market.
Several enterprises are expected to adopt industrial robots due to the trend of automation and innovative technological advancements. The adoption of industrial robotics is expected to offer a growth opportunity for players in the industrial controllers market.
By application, the market has been segmented into automotive, manufacturing, oil & gas, energy & utilities, water & wastewater, food processing & beverage, and aerospace & aviation.