Press release
Industrial Controls Market Outlook - ABB, Emerson Electric Company, Honeywell International Incorporation, Kawasaki Robotics, Mitsubishi Electric Factory Automation, Omron Corporation
The global Industrial Controls Market is segmented based on control system, components, end user, and region. The component segment is classified into sensor, switch & relay, control device (drive, programmable logic controller (PLC), monitoring device, and others), and others includes. In 2017, sensor segment contributed the highest share in industrial controls market and it is expected to dominate the market throughout the forecast period. The end-user industry segment is divided into automotive, utility, electronics & semiconductor, mining, and others. In 2017, the utility segment accounted for the highest market share due to increased demand for industrial controls in oil & gas industries to control and monitor physical processes.
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The global Industrial Controls Market is expected to reach $163,345.7 million in 2024, from $117,370.3 million in 2017 growing at a CAGR of 5.1% from 2018 to 2024.
The Industrial control systems are interconnected equipment, used to monitor and control physical equipment in different industries. ABB Ltd., Mitsubishi Electric Factory Automation, Siemens, Honeywell International Incorporation, Emerson Electric Company, and Schneider Electric SA are some of the leading key players of the global industrial controls market.
The rise in demand for IoT-based smart solutions and automation in various industries increase the demand for the industrial controls. Moreover, rise in demand for mass production in manufacturing industries to cater to the growth in population also boosts the market growth. These factors increase the demand for industrial controls in the market. In addition, surge in demand for cloud-based services and growth in deployment of smart grid solutions to protect critical infrastructures from cyberattacks provide lucrative growth opportunities. However, increase in cyberattack threats, unavailability of authentication procedure to secure ICS, and lack of skilled professionals hinder the growth of the industrial controls market.
The global industrial controls market is analyzed across North America (U.S., Canada & Mexico), Europe (UK, Germany, France, Russia & others), Asia-Pacific (China, India, Japan & others), and LAMEA (Latin America, Middle East & Africa). In 2017, North America was the highest contributor to the industrial controls market and is anticipated to secure the leading position during the forecast period, due to extensive demand and strong manufacturing base of network security industries.
Table of Content:
Chapter 1: Introduction
Chapter 2: Executive summary
Chapter 3: MARKET OVERVIEW
Chapter 4: industrial controls market, by control system
Chapter 5: Industrial controls market, BY components
Chapter 6: Industrial controls market, by end user
Chapter 7: industrial controls market, BY region
Chapter 8: Company profiles
Top key players have been profiled in this research report such as ABB, Emerson Electric Company, Honeywell International Incorporation, Kawasaki Robotics, Mitsubishi Electric Factory Automation, Omron Corporation, Rockwell Automation, Inc., Schneider Electric SA, Siemens AG and Yokogawa Electric Corporation.
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Related Report:
Factory Automation Market - Global Opportunity Analysis and Industry Forecast, 2017-2025
The global Factory Automation market size is expected to reach $368,372.4 million in 2025, from $190,882.2 million in 2017 growing at a CAGR of 8.8% from 2018 to 2025. Factory automation optimizes the industrial and manufacturing process by ensuring high-quality, consistent products and minimizing human intervention.
ABB Ltd., Mitsubishi Electric Factory automation, Siemens, Honeywell International Incorporation, Emerson Electric Company, and Schneider Electric SA are some of the leading key players of the global factory automation market.
Read More on This: https://www.researchbeam.com/factory-automation-market/?utm_source=OPR&utm_medium=CC
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