Industrial Controls Market – Trends Forecast Till 2030

Market Snapshot

Market Overview

The global Industrial Controls market size was estimated at USD 140 billion in 2023 and is projected to reach USD 239.9354 billion in 2030 at a CAGR of 8% during the forecast period 2023-2030.

Industrial controls systems refer to various automation devices, machines and equipment used in industry. They are developed to better control and monitor industrial processes and automate tasks to increase efficiency and reliability while improving quality. These systems include a variety of controls systems such as supervisory control and data acquisition or SCADA, programmable logic controllers or PLCs, and distributed controls systems or DCS.

They can help automate processes, critical infrastructure or remote monitoring and management. They also help collect data from remote devices, monitor the operation of distributed factories, and perform automated electromechanical processes. Rapid adoption of cloud-based services and growing automation trends in industry are important factors for the global industry. Market dominance. Automation helps industries achieve better accuracy and quality while reducing costs.

Growth is driven by the demand for intelligent controls systems and automation in various industries, mass production in industry and the adoption of industrial controls systems in various end-uses such as automotive and mining, as well as increasing R&D investments. in the industrial control market. However, increasing cyber-attacks, lack of authentication procedures, lack of experienced professionals and awareness of industrial security solutions are restraining the growth of the industrial controls market. In addition, the deployment of a smart grid to protect critical infrastructure against cyber-attacks and cloud computing for industrial controls systems creates lucrative opportunities for the industrial surveillance market.

The industrial controls market has been significantly affected by the outbreak of COVID-19, as production facilities in the electronics and semiconductor industries had been shut down due to slowdowns and labor shortages worldwide. The COVID-19 epidemic has caused a significant and long-term reduction in production. In addition, travel bans and facility closures have kept workers away from factories, leading to slower growth in the industrial control market in 2020.

However, the negative impact of COVID-19 on the industrial control industry is expected to last for a short time and the market will see a strong recovery and high demand for industrial control system installations worldwide.

Delvens Industry Expert's Standpoint

The pandemic has had a significant impact on businesses around the world, with countries such as India and China bearing the brunt of the outbreak, but markets have recovered. The demand for industrial control systems in the industrial sector is expected to increase. The increasing use of various smart solutions compatible with IoT is increasing the demand for industrial control. In addition, a great advantage for the supplier is the increase in the demand for mass production in the manufacturing industry, in the industrial sector there is a growing demand for industrial control equipment to monitor and control physical processes in the power and oil and gas industries. These factors have led to market expansion and increased demand for Industrial Controls solutions.

Market Portfolio

Key Findings

• The type segment is further fragmented into Distributed Control System, Supervisory Control & data Acquisition System, Manufacturing Execution System, and others Industrial control systems comprise various automation equipment, machines, and components. These systems are developed to monitor, control, perform multiple industrial tasks and automate processes with high precision, improving product quality and reliability. Organizations are adopting industrial control systems from various industries due to the increasing focus on attaining energy efficiency in manufacturing processes.

• The component segment is further bifurcated into modular terminal blocks, relays and optocouplers, surge protectors, marking systems, printing, ferulles cable lugs, handtools, testers, enclosure products, PCB connectors and terminals, heavy duty connectors, analog signal conditioner, electronics housings, power supplies, industrial Ethernet, remote IO. Industrial Ethernet is further sub segmented into industrial Ethernet active and industrial Ethernet passive. Also, remote IO segment is again classified into sensor actuator interface active and sensor actuator interface passive. The organization segment is further bifurcated into Small and medium-sized enterprises and large enterprises. Large enterprises to account for a larger market size during the forecast period. Large enterprises gather customer and market data to help improve experiences and drive business growth. Most organizations are adopting Industrial Controls solutions to provide better navigation and tracking ability to track people and objects indoors and outdoors. The Industrial Controls market is undergoing significant technological transitions, such as collaboration with social media, real-time solutions, and the usage of mobile devices.
   
• The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America is estimated to account for the largest market share during the forecast period. In North America, remote monitoring and risk management are considered highly effective by most organizations and verticals.

Regional Analysis

North America to Dominate the Market

• North America is on the brink of the fourth industrial revolution. The data generated is  used  for high-volume production, while  the data is integrated into various production systems throughout the supply chain.  The region is also one of the world's largest automotive markets, with more than 13 major automotive manufacturers operating. The automobile industry was one of the largest income generators in the region. Due to significant adoption of industrial control systems and automation technologies in the automotive industry, the region offers a huge opportunity for market growth.
   
• Several key vendors operating in the country are launching new upgrades to support the growth of smart factories along with the development of industrial control systems. Such technological development indicates regional growth in the studied market.

Competitive Landscape

• ABB Ltd.
• Emerson Electric Corporation
• Honeywell International Incorporation
• Kawasaki Robotics control system
• Mitsubishi Electric Factory Automation
• Omron Corporation
• Rockwell Automation Inc.
• Siemens AG
• Schneider Electric SA
• Yokogawa Electric Corporation
• Endress+Hauser AG
• General Electric
• GLC Controls Inc.

Recent Developments

• In July 2022, IBM acquired Databand.ai, a leading provider of data observability software that helps organizations fix issues with their data, including errors, pipeline failures, and poor quality, before it impacts their bottom line.
   
• In July 2022, Sap acquired Askdata to strengthen its ability to help organizations take better-informed decisions by leveraging AI-driven natural language searches. Users are empowered to search, interact, and collaborate on live data to maximize business insights.

Reasons to Acquire

• Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
   
• Gain authentic and granular data access for the Industrial Controls Market to understand the trends and the factors involved in changing market situations.
   
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
   
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.

Report Scope