Industrial Control Systems (ICS) Market Handling Market Size and Forecast (2021-2027)| With Post Impact Of Covid-19 By Top Leading Players Murata Machinery (Japan), Mecalux (Spain), Vanderlande Industries (U.S.)
SUMMERY:
Market Research Future published a research report on “Industrial
Control Systems (ICS) Market Research Report- Global Forecast 2027” – Market
Analysis, Scope, Stake, Progress, Trends and Forecast to 2027.
Market Overview
Industrial controls systems are advanced
factory automations technologies that control the equipment and machines in the
industries. The emergence of automation technologies has revolutionized the
manufacturing sectors witnessing huge uptake of these technologies. Automation
signifies to reduced human intervention, reduced human errors and hence reduced
operational cost which is encouraging various industrial units to adopt the
control systems. The huge uptake defines the growing market landscape of
industrial controls systems.
Acknowledging the kind of traction, the Industrial
controls systems market is garnering currently,
Market Research Future (MRFR) in its recently published study report asserts
that the global industrial controls systems market will grow enormously by 2023
registering a phenomenal CAGR throughout the forecast period (2018 to 2023).
These industrial control systems comprise uses
of robotics to gain the advantages in controlling, better precision, reduced
assembly time, reduction in labor costs, and reduction in the risk of exposure
to production hazards which drive the market growth.
Additionally, adoption of IOT and advancement
in M2M communication technology are factors propelling the growth of the
market. At the same time these systems play a significant role in reducing
energy consumption and increasing operational efficiency that act as key
drivers for the market.
On the other hand, factors such as the lack of
technical efficiency among the professionals taking care of implementation of
these processes are expected obstruct the growth of the market to some extent.
Nevertheless, this challenge may get ruled out soon with the emergence of
industrial training programs.
Also, to shift from traditional manufacturing
to smart manufacturing demands high investment; whereas, due to low profit
margin SMEs sometimes can’t arrange funds. These limited re-investment
opportunities are factors restraining the market growth. Alternatively,
industrial revolution 4.0 would create opportunities in the market.
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Key Players
Fervent players driving the market for
industrial control systems include Schneider Electric (France), ABB Ltd
(Switzerland), Honeywell International Inc (US), Rockwell Automation (US),
Siemens AG (Germany), Omron Co (Japan), General Electric Co (US), Emerson
Electric Co (US)., Yokogawa Electric Co (Japan), and Alstom (France).
Segmentation
MRFR has segmented the analysis into four key
dynamics; for better understanding: -
By Control System : Supervisory Control and Data
Acquisition (SCADA), Distributed Control System (DCS), and Hybrid (hybrid of
SCADA and DCS).
By Components: Human Machine Interface (HMI), Programmable Logic Controller (PLC),
Remote Terminal Unit (RTU), SCADA Communication Systems, and others (control
server, remote diagnostics & maintenance).
By Application: Electrical Power, Oil & Gas, Water & Waste-water treatment, and
Automobile among others (pharmaceutical, aerospace, defence, transportation).
By Regions: North America, Europe, APAC and Rest-of-the-World.
Regional Analysis
The North American region accounts for the largest share in the global
industrial controls systems market owing to the substantial technological
advancements and their uptake. Moreover, factors such as increasing
industrialization and the growing demand for safety features in industries
drive the growth of the regional market. Furthermore, some of the
Well-established industries such as power, O&G, waste-water treatment,
defence, and automobile create opportunities for the market to grow
significantly during the forecast period.
The Asia Pacific region is another lucrative market for industrial
controls systems market. Factors such as the increase in the production of
automobiles in emerging nations such as India, China, and Japan along with the
presence of a number of vendors drive the market growth.
Advancements expected to happen in the industrial safety technology will
result in the growth of the industrial controls systems market in the region.
Furthermore, the growth in the market is driven by factors such as the
increasing population, urbanization, and industrialization led by the improving
economic conditions are fostering the market growth, creating the demand for
energy, water and waste-water treatment systems.
The European region holds the third position in the global ICS market in
terms of growth rate and the market size.
The market growth in this region is driven by the growing manufacturing
sector and the adoption of new technologies such as IoT and application of
industry 4.0 concept in the manufacturing. Besides increase in the demand for
modernization, smart grid, and cloud computing are some of the factors that are
estimated to fuel the growth in the European market.
Competitive Analysis
Highly competitive industrial control systems market appears to be
fragmented owing to the presence of several players accounting for a
substantial market share. Well-established players incorporate collaboration,
acquisition, partnership, product & technology launch, and expansion to
gain a competitive advantage and thus to maintain their positions in the
market. These key players compete based on innovation, pricing, and service.
Expansion in emerging market is helping those established key players to extend
their sales networks.
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