Rising adoption of Industry 4.0 and increased requirement industrial control systems (ICS) security is expected to drive Global Industrial Control Systems Market during the forecast period, 2023-2028.
According to TechSci Research report, “Global Industrial Control Systems Market – By Region, Competition, Forecast & Opportunities, 2028”, Global Industrial Control Systems Market is growing at a fast pace owing to manufacturing companies are quickly embracing smart factories, which provide a new level of production and efficiency. Improved resource planning through the use of smart manufacturing techniques prevents overproduction and underuse while also increasing cost effectiveness and sustainability. Because of this, industrial control systems are now used more frequently in newly constructed smart factories. Global Industrial Control Systems Market is projected to reach a revised size of USD 25.2 billion by 2028.
Based on software segment, Distributed Control System (DCS) is the dominant segment in Global Industrial Control Systems Market as in comparison to conventional centralized control systems, DCS offers greater control reliability and can be used for large and complicated industrial operations. As a result, it finds use across a variety of sectors, including chemical, food and beverage, nuclear power, wastewater management, and the automotive industries.
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Based on end user segment, power and utilities segment has the largest market share as power plants use industrial control systems in a variety of ways. Automation has been used in hydroelectric power plants by businesses to lower motor and generator downtime, support more capacity, and boost plant effectiveness. Power stations, wind farms, and thermal energy producing facilities all use ICS.
In terms of regional analysis, the Global Industrial Control Systems Market is segmented into North America, Asia-Pacific, Europe, South America, Middle East & Africa. The North America region is the dominant region, the pharmaceutical and biotech industries in North America have increased their use of automation and control systems in recent years as a result of the rising popularity of biosimilars. The rise of generic drugs, the rise in chronic disease prevalence, the rise in demand for pharmaceutical drug productivity, and the rise in biotechnology market investment for new drugs are some of the major factors propelling the growth of the Global Industrial Control Systems Market in the pharmaceutical and biotech industries.
Key market players in the Global Industrial Control Systems Market include:
- General Electric Co.,
- Fuji Electric Co. Ltd.
- Siemens AG
- Dassault Systems SE
- Rockwell Automation Inc.
- ABB Limited
- Honeywell International Inc.
- Texas Instruments Inc.
- Emerson Electric Co.
- Omron Corporation
In March 2021, ABB completed the purchase of the majority of the stock in Chargedot Shanghai New Energy Technology Co., Ltd. According to ABB, the acquisition would allow it to offer AMRs in addition to industrial and collaborative robot arms in its product portfolio. With a 30% yearly growth rate, ASTi solutions currently bring in USD 50 million in revenue annually. The ABB sales and partner network has enabled ASTi to increase its global reach from 20 to 53 companies, including China.
In addition, businesses have begun fusing automation and IoT as Industry 4.0 has emerged. This might cause all of the sensors built inside the facility to generate large amounts of data. Businesses may use data analytics to improve plant efficiency, paving the door for the integration of AI with industrial automation.
The usage of efficient and trustworthy hardware and software is associated with the high prices of automated systems. Higher initial investments in automation technology are required by automation equipment (an automated system can cost millions of dollars to design, fabricate, and install). Additionally, they have less product flexibility than a manual system, require more maintenance than a manually operated machine, and are expected to have a negative impact on market growth.
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“The Global Industrial Control Systems Market is expected to expand during the projected period. Market is anticipated to grow significantly as a result of the growing adoption of process automation across numerous industries, including automotive, energy utilities, and chemical, Additionally, automakers from all over the world are aware of the game-changing potential of the next generation of robots and automation technology to raise standards of productivity, quality, safety, and cost in the sector.,” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based global management consulting firm.
“Global Industrial Control Systems Market by Software (Supervisory Control and Data Acquisition System (SCADA), Distributed Control System (DCS), Programmable Logic Controller (PLC), Enterprise Resource Planning (ERP), Human Machine Interface (HMI), Others), By End User (Oil and Gas, Chemical and Petrochemical, Power and Utilities, Pharmaceuticals, Food and Beverage, Automotive, Other), By Region, Competition, Forecast & Opportunities, 2028”, has evaluated the future growth potential of Global Industrial Control Systems Market and provides statistics and information on market structure, size, share, and future growth. The report is intended to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities present in the Global Industrial Control Systems Market.
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