Increased demand for IoT-based smart solutions, mass production in manufacturing industries to cater to the growing population, and automation in various industries drive the growth of the global industrial controls market
PORTLAND, Oregon, June 25, 2019 /PRNewswire/ -- Allied Market Research recently published a report, titled, Industrial Controls Market by Control System (Distributed Control System (DCS), Supervisory Control and Data Acquisition System (SCADA), Manufacturing Execution System (MES), and Others), Component (Sensor, Switch & Relay, Control Device, and Others), and End User (Automotive, Utility, Electronics & Semiconductors, Mining, and Others) - Global Opportunity Analysis and Industry Forecast, 2017-2024. The research offers a detailed analysis on changing market dynamics, key investment pockets, major segments, and market competition. According to the report, the global industrial controls market generated $117.37 billion in 2017, and is expected to reach $173.96 billion by 2025, growing at a CAGR of 5.3% from 2018 to 2025.
Growing demand for IoT based smart solutions and automation in various industries, mass production in manufacturing industries to cater to the growing population, and growing adoption of ICS by industries and rise in R&D investments drive the market growth. However, increase in cyberattack threats, unavailability of authentication procedure to secure ICS, and lack of skilled professionals restrain the growth of the market. Conversely, growing smart grid deployments for the protection of critical infrastructure from cyber-attacks create new opportunities for growth of the market.
Download Sample Report: https://www.alliedmarketresearch.com/request-sample/459
Distributed control system segment to dominate through 2025
Among control systems, the distributed control system segment accounted for 44% of the overall market share in 2017 and would retain its dominance through 2025. The manufacturing execution system would grow at the fastest CAGR of 7.1% during the forecast period. The report also discusses supervisory control & data acquisition system and others.
Utility segment to lead in terms of revenue through 2025
Among end-users, the utility segment was the largest in 2017, capturing 28% of the market share and would maintain its dominance through 2025. However, the electronics & semiconductors segment would grow at the fastest CAGR of 6.8% from 2018 to 2025. Demand for efficient energy use and increase in use of mobile phones & personal communication devices fuel the growth of the segment. The report also includes end users such as mining, automotive, and others.
Inquire more about this report: https://www.alliedmarketresearch.com/purchase-enquiry/459
North America to be dominant, Asia-Pacific to exhibit the fastest growth through 2025
North America captured more than half of the market share in 2017 and is likely to dominate the market through 2025. However, Asia-Pacific is expected to register the fastest CAGR of 10.3% from 2018 to 2025. The other regions analyzed in the report include Europe and LAMEA (Latin America, Middle East and Africa).
Key players of the industry
Leading market players analyzed in the research include ABB Ltd., Mitsubishi Electric Factory Automation, Siemens, Honeywell International Incorporation, Emerson Electric Corporation, Schneider Electric SA, Omron Corporation, Rockwell Automation, Inc., Kawasaki, and Yokogawa Electric Corporation. These market players have adopted various strategies including collaborations, joint ventures, partnerships, expansions, and others to gain a strong position in the industry.
Access KNOWLEDGE TREE (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/knowledgetree
Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
5933 NE Win Sivers Drive
#205, Portland, OR 97220
USA/Canada (Toll Free): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
SOURCE Allied Market Research