Press release
Incorporating Innovative Automation Solutions to be Transformative Trend in Industrial Control for Process Manufacturing Systems Market
According to TMR, the global industrial control for process manufacturing market was worth US$61.23 bn in 2014 and is expected to be worth US$96.20 bn by the end of 2021. Between the forecast years of 2015 and 2021 the market is anticipated to expand at a CAGR of 5.2%.
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“Innovation on the automation front will help the companies to gain a competitive edge over others,” suggests the lead author of this research report. The future of this industry will be determined by state-of-art automation to transcend barriers faced by end users. Companies need to focus on making industrial controls that deliver efficient results, making optimum utilization of time, says TMR.
Adoption of Efficient Manufacturing Processes Propels Global Market
A large number of industries such as oil and gas, chemical, pharmaceutical, power and healthcare, and food and beverages seek efficient methods while manufacturing a wide range of products. To reduce the wastage during these processes and ensure uniformity in the final output process, control systems are used. Thus, the growing demand for consistent products has been driving the overall industrial control for process manufacturing market. The market is also being propelled by increasing demand for efficiency, safety, and minimal variability.
Standardization of processes in various industries has also been responsible for the growing demand for industrial control for process manufacturing solutions. Furthermore, the ability of these solutions to regulate variables to meet the requirements of the desired end result is also boosting their demand. The growing safety and security concerns in manufacturing units and process industries is also expected to fuel the industrial control for process manufacturing market.
Maturing Industries Offer Lower Scope for Growth
The maturing industries, especially in the developed regions, are hampering the growth of the global market. Furthermore, saturated markets within North America and Europe are also offering a negligible scope for growth to the overall market. However, the growing investments in the developing regions to build industries and increase their manufacturing output are anticipated to create new opportunities for the market.
Distributed Control Systems take Lead in Global Market
The distributed control systems (DCS) segment is anticipated to display a strong growth rate in the coming years as it reaches a valuation of US$31.32 bn 2021 in the coming years. This segment is anticipated to rise at a CAGR of 4.7% between 2015 and 2021. The growth of the DCS segment will mainly stem from the fact that they are capable of monitoring larger areas through a central control room. Thus, several oil and gas companies are adopting these systems to monitor and manage their sites across the globe.
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The Americas are the predominant users of industrial control for process manufacturing systems and technologies. The evolution of sophisticated manufacturing processes has led to a greater adoption of these systems. The flourishing oil and gas sector of the Americas is making an extensive use of the industrial controls for process manufacturing solutions across the region. Owing to these factors the industrial control for process manufacturing market in the Americas will expand at a CAGR 4.8% between 2015 and 2021.
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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business Contact.
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