Industrial Controls
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How Large Will the Industrial Controls Market Size By 2025?
The size of the industrial controls market has experienced substantial growth over the recent past. The market, expected to escalate from a value of $146.41 billion in 2024 to $154.18 billion in 2025, boasts a compound annual growth rate (CAGR) of 5.3%. The historic period’s growth has been propelled by factors such as social welfare requirements, government financing, the uptake of foster care services, as well as counseling and mental health services.
How Big Is the Industrial Controls Market Size Expected to Grow by 2029?
Stable expansion is projected in the industrial controls market in the coming years, as the market size is forecasted to reach $181.56 billion by 2029, rising at a CAGR of 4.2%. Factors such as mental health awareness, an aging population, digital counseling, telehealth, and substance abuse treatments all contribute to this anticipated growth during the forecast period. Key trends moving forward include telehealth, online counseling, prevention and treatment of substance abuse, online and app-based support, along with case management technology.
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Which Key Market Drivers Powering Industrial Controls Market Expansion and Growth?
The expansion of manufacturing sectors, particularly in emerging economies, is anticipated to bolster the industrial controls market. Industrial controls enhance product quality and dependability by overseeing and automating industrial processes with exceptional accuracy. For example, Goldman Sachs, an American investment bank, reported in April 2022 that the manufacturing industry in India saw a 210% increase in growth in fiscal 2022, a significant rise from fiscal 2021. This growth was also accompanied by a noteworthy surge in new investment and ordering activities following the pandemic. Consequently, the rising manufacturing domains will facilitate the progression of the industrial controls market.
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Which Fast-Growing Trends Are Poised to Disrupt the Industrial Controls Market?
The industrial controls market is curtailed by malevolent cyber assaults resulting from inadequate security within industrial infrastructure. The incorporation of industrial controls with connected sensors and integrated data systems increases their susceptibility to cybercrimes. A relevant case includes the cyber hijacking of 156 tornado warning systems in Dallas, USA, compelling the authorities to deactivate the emergency system.
What Are the Emerging Segments in the Industrial Controls Market?
The industrial controls market covered in this report is segmented –
1) By Control system: Distributed Control System (DCS), Supervisory Control And Data Acquisition System (SCADA), Manufacturing Execution System (MES)
2) By Component: Modular Terminal Block, Relays and Optocouplers, Surge Protectors, Marking Systems, Printing, Ferrules Cable Lugs, Handtools, Testers, Enclosure Products, PCB Connectors and Terminals, Heavy Duty Connectors, Analog Signal Conditioner, Electronics Housings, Power Supplies, Industrial Ethernet, Remote IO
3) By End User: Automotive, Utility, Electronics And Semiconductor, Mining, Other End Users
Subsegments:
1) By Distributed Control System (DCS): Process DCS, Hybrid DCS, Advanced DCS
2) By Supervisory Control And Data Acquisition System (SCADA): Traditional SCADA, Cloud-based SCADA, Wireless SCADA
3) By Manufacturing Execution System (MES): Discrete MES, Process MES, Hybrid MES
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Who Are the Global Leaders in the Industrial Controls Market?
Major companies operating in the industrial controls market include Mitsubishi Electric Factory Automation, Siemens AG, Honeywell International Incorporation, Emerson Electric Company, Schneider Electric SA, ABB Ltd, Omron Corporation, Rockwell Automation, Yokogawa Electric Corporation, Endress+Hauser Group, WIKA Alexander Wiegand SE & Co. KG, Azbil Corporation (formerly known as Yamatake Corporation), Fuji Electric Co. Ltd., 3D Systems Corporation, HP Inc., FANUC Corporation, Stratasys Ltd., Progea Srl, Hitachi Ltd., Vega Grieshaber KG, Danfoss Group, Tegan Innovations Inc., Krohne Group, Chaos Prime, Dwyer Instruments Inc., Kawasaki Heavy Industries Ltd., General Electric Company (GE), Johnson Controls International plc, Eaton Corporation plc, Phoenix Contact GmbH & Co. KG, Parker Hannifin Corporation, WAGO Kontakttechnik GmbH & Co. KG, Yokohama Industries Inc., B&R Industrial Automation GmbH, Beckhoff Automation GmbH & Co. KG, Bosch Rexroth AG, Delta Electronics Inc., Festo AG & Co. KG, IDEC Corporation, Keyence Corporation, National Instruments Corporation, Pepperl+Fuchs GmbH
Which are the Top Profitable Regional Markets for the Industrial Controls Industry?
Asia-Pacific was the largest region in the industrial controls market in 2023. Western Europe was the second-largest region in the industrial controls market. The regions covered in the industrial controls market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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