Press release
Industrial Control Systems Energy Power Market Emerging Growth, Absolute Business Opportunity And Industry Trends -2022
Industrial control systems are primarily in the power generation, transmission and distribution industry to collect and analyze data. With the increasing incidence of automation across several industries the need to adopt ICS is increasing. Increasing complexities in the manufacturing and other such processes beckons the need of constant monitoring. ICS enable the user to control and monitor industry processes. With the increasing technological development and advancement in M2M communications the Industrial Control Systems market is expected to register a high growth rate in the forecast period.
Thus the ICS market is expected to register a CAGR of about 5%.
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Key Players
Some of the key players in the ICS market ABB Ltd. (Switzerland), Emerson Electric Company (U.S.), Siemens AG (Germany),Mitsubishi Electric Corporation (Japan)General Electric Company (U.S.), Schneider Electric SE (France), Rockwell Automation, Inc. (U.S.), Honeywell International, Inc. (U.S.),and Yokogawa Electric (Japan) , Azbil (Japan), Metso (Finland) among others.
Segments
The ICS market has been segmented on the basis of technology as SCADA, PLC, DCS, HMI and others. On the basis of components the market has been segmented as Hardware and Software. On the basis of end market the market has been segmented as upstream, petrochemicals, utility and power generation.
Regional Analysis
North America is the dominating region in the ICS market mainly due to the rapid increase in the adoption of ICS across various industries. Increased application in the Oil & Gas and Pharmaceuticals sector are the other factors which are driving the market in the North American region. Rapid increase in the manufacturing sector in the Asia-Pacific region is one of the main factors that has resulted in the Asia-Pacific region being one of the fastest growing regions.
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Intended Audience
ICS manufacturing companies
ICS service providers
Energy& Power industry Consultants and Investment bankers
Government as well as Independent Regulatory Authorities
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In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
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