Industrial Controls System Market to Reach US$81 bn by 2021 as Emerging Economies Invest Heavily in Automation

Transparency Market Research has published a new research report that studies the global industrial controls system market in complete detail. The research report, titled “Industrial Controls System Market - Global Industry Analysis Size Share Growth Trends and Forecast 2015 - 2021,” closely observes the key trends and dynamics in the global industrial control systems market. The report also offers an explanation of the strengths, the weaknesses, the opportunities, and the threats in the market with the help of SWOT analysis. Furthermore, it also evaluates the threat of new entrants, the threat of substitute products or services, the bargaining power of customers, the bargaining power of suppliers, and the intensity of competitive rivalry.

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According to the research report, the global industrial controls systems market was valued at US$58 bn in 2014 and is expected to reach US$81 bn by 2021, expanding at steady CAGR of 4.9% from 2015 to 2021. This growth will be supported by demand from the emerging economies of Indonesia, India, and China, which are working towards developing automated solutions and building a solid industrial infrastructure.

The global industrial controls system market is segmented on the basis of type, component, application, and geography. On the basis of type, the market is segmented into supervisory control and data acquisition (SCADA), distributed control systems (DCS), and programmable logic controllers (PLC). The components in this market are human machine interface (HMI), programmable logic controllers (PLC), remote terminal units (RTU), SCADA communication systems, and others. The application of industrial controls systems are seen in the electrical power industry, the oil and gas industry, the chemicals industry, the food and beverages industry, the automotive industry, the manufacturing industry, the water and waste water management industry, and others such as the aerospace, defense, mining, and materials industries. Geographically, this market is segmented into North America, Europe, Asia Pacific, and Rest of the World.

The global industrial controls system market has been growing at a steady pace due to the rise of automation in the industrial sector across the globe. According to analysts, growing usage of software in industrial control devices is likely to augment the PLC, DCS, and SCADA systems segments in the overall market. The SCADA segment will witness a stupendous growth rate due to increasing demand for the same in sectors such as food and beverages, oil and gas, and chemicals.

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Some of the important players in the global industrial controls system market are Yokogawa Electric Corporation, Siemens AG, Rockwell Automation, Inc., Schneider Electric SE, Emerson Electric Co., Honeywell International, Inc., Alstom SA, Omron Corp, ABB Ltd., Omron Corp., and General Electric Co. The research report also offers in-depth insights into the competitive landscape of this market. Furthermore, the report also analyzes the financial overview, research and development strategies, business and marketing strategies, strategic mergers and acquisitions, product portfolio, and investment outlook of these companies in the coming years.

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