Market Research Report
Industrial Control Systems Market - Growth, Trends and Forecast (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||392739|
|Published||Content info||120 Pages
Delivery time: 2-3 business days
|Industrial Control Systems Market - Growth, Trends and Forecast (2020 - 2025)|
|Published: January 1, 2020||Content info: 120 Pages||
The industrial control systems market was valued at USD 109.83 billion in 2019, and it is expected to reach a value of USD 170.88 billion by 2025, recording a CAGR of 9.17% during the forecast period (2020-2025). The transitions to Industry 4.0 is also expected to bring many advances in efficiency and productivity as well as many changes in the way the industrial processes work The industrial controls market has extensive demand in multiple industries such as automotive, utility, electronics, and semiconductors, owing to its ability to control the automated processes.
Industrial control systems comprise various automation equipment, machines, and components. These systems are developed to monitor, control, and perform various industrial tasks & automate processes with high precision, improved product quality, and reliability. Industrial control systems are being adopted by organizations from various industries due to their increase in focus on attaining energy efficiency in manufacturing processes.
Food & Beverage Sector to Widely Use Industrial control Systems
North America to Dominate the Market
The country is also one of the largest automotive markets in the world and is home to over 13 major auto manufacturers. The automotive manufacturing has been one of the largest revenue generators for the country in the manufacturing sector. As the automotive accounts for significant adoption for industrial control systems and automation technologies, hence the country offers huge opportunity.
Moreover, supporting government policies and competitively priced natural gases are enabling US and Canadian chemical companies to build plants, expand, automate and control their facilities. Hence, the industrial controls growth in North American region is also expected to further drive the studied market over the forecast period.
The market of The Industrial Control System market is highly fragmented because many large players are in this market and they dominate the entire industry. All the players focus on strong Research &Development so that they have competitive advantages. These key players compete based on innovation, pricing, and service. Expansion in the emerging market is helping those established key players to extend their sales networks. GE Digital, Siemens AG, Schneider Electric AG, SAP, ABB Group, Fanuc, Honeywell International Inc., Bosch, and Cisco Systems are some of the companies providing the industrial internet platform.