Market Research Future (MRFR) has published a Cooked Research Report on the “Global Industrial Controllers Market”.
The Industrial Controllers market is estimated to register a CAGR of 6.02% during the forecast period of 2024 to 2032.
MRFR recognizes the following companies as the key players in the global Industrial Controllers market— National Instruments Corporation, Ascon Tecnologic, Siemens Ag, Mitsubishi Electric, General Electric, Omron Corporation, Red Lion Controls (spectris plc), B&R Industrial, Automation Gmbh (ABB Ltd), Schneider Electric, Abb Limited, Honeywell International Inc., Rockwell Automation, Emerson Electric Corporation, Yokogawa Electric Corporation, Kawasaki Heavy Industries, Ltd., and others.
Industrial Controllers Market Highlights
The global Industrial Controllers market is accounted for to register a CAGR of 6.02% during the forecast period and is estimated to reach USD 2,55,991.5 million by 2032.
Many individuals are realising that we are moving beyond the Third Industrial Revolution in unprecedented ways, not just by increasing production speed and efficiency, but also by blurring the borders between the physical, digital, and biological domains. Three things separate this new wave from the Third Industrial Revolution: velocity, breadth, and system effect. The rate at which we as a species are producing technical advances is unprecedented in history. Unlike past Industrial Revolutions, which advanced at a linear rate, we are now seeing exponential growth. Similarly, earlier Revolutions touched just specialised businesses, but today enormous changes will disrupt practically every industry in every country. The magnitude of these developments heralds the transformation of whole manufacturing systems, as well as their management and control. Industry 4.0, which arose from the Fourth Industrial Revolution, contains numerous features that are not often associated with industry. Examples include the advent of the Internet of Things and smart cities, as well as artificial intelligence, cognitive computing, and cloud computing. Finally, Industry 4.0 is about transformation via the use of new digital technology that enables the collection and analysis of data across machine networks and business systems. It will allow for speedier and more efficient creation of high-quality, personalised items at much lower costs. These developments will have a significant impact not just on how we create things, but also on how we regard the workforce.
In today's world, all processes are automated, and it is the mainstay of contemporary industry. All sectors must operate in a precise, predictable, and repeatable manner in order to achieve automated process control. Therefore, the most significant equipment is a controller, which monitors a process and compares the output to a predetermined value, and this process is repeated. Everything is automated in this manner, reducing mistakes and increasing overall efficiency. Automation is becoming essential in many businesses. The ability of a PLC controller to work continuously in harsh industrial conditions makes it an essential asset. In this sense, the car and equipment manufacturing industries have profited the most from PLC. PLCs enable producers to work more efficiently and quickly. Automatic procedures reduce the occurrence of bottlenecks, lowering operating costs and manufacturing time. Streamlined processes are made possible by increased task precision and repetition. When industrial PCs are combined with automated software, they can function for extended periods of time in any type of industrial setting. Almost every stage of the manufacturing process involves the usage of a PLC.
Segment Analysis
The global Industrial Controllers market has been segmented based on type, control, and applications.
Based on type, the market is segmented into programmable logic controllers (PLC), distributed control system (DCS), supervisory control and data acquisition (SCADA) and programmable automation controller (PAC). The distributed control system (DCS) segment was attributed to holding the largest market share in 2022 with a market share of ~32% revenue as estimated by MRFR analysts.
Based on control, the global Industrial Controllers market has been segmented into 1 open-loop control, closed-loop control, on-off control, feed-forward control. The on-off control,segment was expected to hold the largest market share in 2022.
Further, based on the applications, the market is segmented into automotive, manufacturing, oil & gas, energy & utilities, water & wastewater, food processing & beverages, aerospace & aviation, and others. The manufacturing segment is projected to have the largest market share during the forecast period.
Regional Analysis
The global Industrial Controllers market, based on region, has been divided into the North America, Europe, Asia-Pacific, and Rest of the World. North America consists of US and Canada. The Europe Industrial Controllers market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The Industrial Controllers market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World Industrial Controllers market comprises of Middle East, Africa, and Latin America.
The industrial control system has emerged in China across a variety of sectors, including energy, transportation, water, and municipal services. The growing integration of information technology and industry, as well as the rapid development of the Internet of Things, have led to the development of networked control systems as the trend for industrial automation in China. All this factors are boosting the growth in Asia Pacific,
The United States is the largest market for industrial controllers in North America, due to the presence of a large number of manufacturing industries in the country. Some of the key factors driving the growth of the industrial controller’s market in North America include the increasing adoption of Industry 4.0 technologies, such as the Internet of Things (IoT) and artificial intelligence (AI), and the growing trend towards digitalization and automation in manufacturing processes. However, the market is also facing challenges, such as the high cost of industrial controllers and the shortage of skilled personnel to manage and maintain these systems.
Additionally, The automotive industry holds a significant share of automated manufacturing facilities which is driving the Industrial Controllers Market in Europe. A variety of automakers automate their production facilities in order to maintain efficiency. It is expected that the growing trend of replacing conventional vehicles with electric vehicles (EVs) will further increase demand from the automotive industry.
Browse In-depth Details [Table of Content, List of Figures, List of Tables] of Industrial Controllers Market Research Report
Key Findings of the Study
- The global Industrial Controllers market is expected to reach USD 2,55,991.5 million by 2032, at a CAGR of 6.02% during the forecast period.
- The Asia-Pacific region accounted for the fastest-growing global market, imperative factors, such as the significant number of investments in Asia-Pacific, making it the primary contributor to the market share.
- Based on type, the Distributed Control Systems (DCS) segment was attributed to holding the largest market in 2022, with an approximate market share of 32.9%.
- National Instruments Corporation, Ascon Tecnologic, Siemens Ag, Mitsubishi Electric, General Electric, Omron Corporation, Red Lion Controls (spectris plc), B&R Industrial, Automation Gmbh (ABB Ltd), Schneider Electric, Abb Limited, Honeywell International Inc., Rockwell Automation, Emerson Electric Corporation, Yokogawa Electric Corporation, Kawasaki Heavy Industries, Ltd. are the key market players.
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Companies Covered | 15 |
Pages | 128 |
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