Global Industrial Controls Market Size By Types (Programmable logic controller (PLC), Distributed control system (DCS)), By Component (Industrial Robots, Remote terminal unit), By Application (Automotive, Pharmaceutical), By Geographic Scope And Forecast
Report ID: 141444|No. of Pages: 202
Global Industrial Controls Market Size By Types (Programmable logic controller (PLC), Distributed control system (DCS)), By Component (Industrial Robots, Remote terminal unit), By Application (Automotive, Pharmaceutical), By Geographic Scope And Forecast
Industrial Controls Market Size And Forecast
Industrial Controls Market size was valued at USD 156 Billion in 2024 and is projected to reach USD 235.06 Billion by 2031, growing at a CAGR of 5.80 % during the forecast period 2024-2031.
The rising adoption of automation by industries, technology in manufacturing, effective resource utilization, use of robotics, and mass production to meet growing demands are a few of the critical Industrial Controls Market drivers and trends fueling the growth of the market. The Global Industrial Controls Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Industrial Controls Market Definition
Industrial control systems refer to the various automation devices, machines, and equipment that are being used by industries. They are developed to better supervise, control, and monitor the industrial processes and automate tasks to increase efficiency and reliability while at the same time improving quality. These systems include various control systems like supervisory control and data acquisition or SCADA, programmable logic controllers or PLCs, and distributed control systems or DCS among others.
They can help in automating processes, critical infrastructure, or remote supervision and control. They also help to gather data from devices located far away, control activities of facilities that are spread across multiple locations and make automatic electromechanical processes. ABB Ltd., Siemens, Mitsubishi, Honeywell International Incorporation, and Schneider Electric are some of the important players which have a major share in the Industrial Controls Market.
Our reports include actionable data and forward-looking analysis that help you craft pitches, create business plans, build presentations and write proposals.
What's inside a VMR
industry report?
>>> Ask For Discount @ – https://www.verifiedmarketresearch.com/ask-for-discount/?rid=141444
Global Industrial Controls Market Overview
The rapid adoption of cloud-based services and growing trends of automation in industries are important drivers for the Global Industrial Controls Market. Automation helps industries to achieve better precision and quality control while reducing costs. As an example, Honeywell Inc and Tech Mahindra leveraged digital technology and collaborated to create ‘Factories of the Future. Industrial robots are making the production process and distribution easier while saving time.
Also, human intervention is reduced. Some of the other drivers are the increasing trend of remote supervision, rising software applications, and digital transformation in the industrial environment. The rise in demand for technology-driven growth, Digitization, and Industry 4.0 is expected to create new opportunities for the growth of the Industrial Controls Market. Industries are continuously adopting smarter solutions to improve their production processes in this Industry 4.0 era.
Emerging economies like China and India are making increased investments in their industrial infrastructure. Continuous process improvement, the need to minimize labor costs, and meeting stringent quality standards provide ample growth opportunities for the market. However, there are some restraints like the high costs of automation systems requiring heavy initial capital investments. Again the maintenance costs of such systems can be high as well. They also offer lesser flexibility if compared to a manual system.
Global Industrial Controls Market: Segmentation Analysis
The Global Industrial Controls Market is segmented on the basis of Types, Component, Application, And Geography.
Industrial Controls Market, By Types
- Programmable logic controller (PLC)
- Distributed control system (DCS)
- Supervisory control and data acquisition (SCADA)
- Others
Based on Types, the market is segmented into Programmable logic controller (PLC), Distributed control system (DCS), Supervisory control and data acquisition (SCADA), and Others.
Industrial Controls Market, By Component
- Industrial Robots
- Remote terminal unit
- Human Machine Interface
- Sensors
- Others
Based on Component, the market is segmented into Industrial Robots, Remote terminal unit, Human Machine Interface, Sensors, and Others.
Industrial Controls Market, By Application
- Automotive
- Pharmaceutical
- Oil and Gas
- Electrical Power
- Others
Based on Application, the market is segmented into Automotive, Pharmaceutical, Oil and Gas, Electrical Power, and Others.
Industrial Controls Market, By Geography
- North America
- Europe
- Asia Pacific
- Rest of the world
On the basis of Geography, The Global Industrial Controls Market is classified into North America, Europe, Asia Pacific, and the Rest of the world. APAC is expected to exhibit a large share of the Industrial Controls Market. China has been working on innovation in industrial practices by adopting a high degree of automation. Also, their government industrial policy supports industrial intellectualization. Companies such as Toyota and Honda of Japan are developing smart factories for manufacturing sensors, robots, and other intelligent systems. This demand is leading to good growth in the Industrial Controls Market in Japan.
Key Players
The “Global Industrial Controls Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Emerson, ABB Ltd, Siemens AG, Honeywell International Inc, Rockwell Automation Inc., Mitsubishi Electric Factory Automation, Omron Corporation. Schneider Electric, Yokogawa Electric Corp. The competitive landscape section also includes key development strategies, market share, and market ranking analysis of the above-mentioned players globally.
Report Scope
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| STUDY PERIOD | 2021-2031 |
| BASE YEAR | 2024 |
| FORECAST PERIOD | 2024-2031 |
| HISTORICAL PERIOD | 2021-2023 |
| UNIT | Value (USD Billion) |
| KEY COMPANIES PROFILED | Emerson, ABB Ltd, Siemens AG, Honeywell International Inc, Rockwell Automation Inc., Mitsubishi Electric Factory Automation, Omron Corporation. |
| SEGMENTS COVERED | By Types, By Component, By Application, By Geography. |
| CUSTOMIZATION SCOPE | Free report customization (equivalent up to 4 analyst’s working days) with purchase. Addition or alteration to country, regional & segment scope |
Research Methodology of Verified Market Research:
To know more about the Research Methodology and other aspects of the research study, kindly get in touch with our Sales Team at Verified Market Research.
Reasons to Purchase this Report
• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market from various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 6-month post-sales analyst support
Customization of the Report
• In case of any Queries or Customization Requirements please connect with our sales team, who will ensure that your requirements are met.
Frequently Asked Questions
1 INTRODUCTION OF GLOBAL INDUSTRIAL CONTROLS MARKET
1.1 Overview of the Market
1.2 Scope of Report
1.3 Assumptions
2 EXECUTIVE SUMMARY
3 RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH
3.1 Data Mining
3.2 Validation
3.3 Primary Interviews
3.4 List of Data Sources
4 GLOBAL INDUSTRIAL CONTROLS MARKET OUTLOOK
4.1 Overview
4.2 Market Dynamics
4.2.1 Drivers
4.2.2 Restraints
4.2.3 Opportunities
4.3 Porters Five Force Model
4.4 Value Chain Analysis
5 GLOBAL INDUSTRIAL CONTROLS MARKET, BY TYPES
5.1 Overview
5.2 Programmable logic controller (PLC)
5.3 Distributed control system (DCS)
5.4 Supervisory control and data acquisition (SCADA)
5.5 Others
6 GLOBAL INDUSTRIAL CONTROLS MARKET, BY COMPONENT
6.1 Overview
6.2 Industrial Robots
6.3 Remote terminal unit
6.4 Human Machine Interface
6.5 Sensors
6.6 Others
7 GLOBAL INDUSTRIAL CONTROLS MARKET, BY APPLICATION
7.1 Overview
7.2 Automotive
7.3 Pharmaceutical
7.4 Oil and Gas
7.5 Electrical Power
7.6 Others
8 GLOBAL INDUSTRIAL CONTROLS MARKET, BY GEOGRAPHY
8.1 Overview
8.2 North America
8.2.1 U.S.
8.2.2 Canada
8.2.3 Mexico
8.3 Europe
8.3.1 Germany
8.3.2 U.K.
8.3.3 France
8.3.4 Rest of Europe
8.4 Asia Pacific
8.4.1 China
8.4.2 Japan
8.4.3 India
8.4.4 Rest of Asia Pacific
8.5 Rest of the World
8.5.1 Latin America
8.5.2 Middle East and Africa
9 GLOBAL INDUSTRIAL CONTROLS MARKET COMPETITIVE LANDSCAPE
9.1 Overview
9.2 Company Market Ranking
9.3 Key Development Strategies
10 COMPANY PROFILES
10.1 Emerson
10.1.1 Overview
10.1.2 Financial Performance
10.1.3 Product Outlook
10.1.4 Key Developments
10.2 ABB Ltd
10.2.1 Overview
10.2.2 Financial Performance
10.2.3 Product Outlook
10.2.4 Key Developments
10.3 Siemens AG
10.3.1 Overview
10.3.2 Financial Performance
10.3.3 Product Outlook
10.3.4 Key Developments
10.4 Honeywell
10.4.1 Overview
10.4.2 Financial Performance
10.4.3 Product Outlook
10.4.4 Key Developments
10.5 Rockwell Automation Inc.
10.5.1 Overview
10.5.2 Financial Performance
10.5.3 Product Outlook
10.5.4 Key Developments
10.6 Mitsubishi EFA
10.6.1 Overview
10.6.2 Financial Performance
10.6.3 Product Outlook
10.6.4 Key Developments
10.7 Omron Corp
10.7.1 Overview
10.7.2 Financial Performance
10.7.3 Product Outlook
10.7.4 Key Developments
10.8 Schneider Electric
10.8.1 Overview
10.8.2 Financial Performance
10.8.3 Product Outlook
10.8.4 Key Developments
10.9 Yokogawa EC
10.9.1 Overview
10.9.2 Financial Performance
10.9.3 Product Outlook
10.9.4 Key Developments
11 Appendix
11.1 Related Research
Report Research Methodology
Verified Market Research uses the latest researching tools to offer accurate data insights. Our experts deliver the best research reports that have revenue generating recommendations. Analysts carry out extensive research using both top-down and bottom up methods. This helps in exploring the market from different dimensions.
This additionally supports the market researchers in segmenting different segments of the market for analysing them individually.
We appoint data triangulation strategies to explore different areas of the market. This way, we ensure that all our clients get reliable insights associated with the market. Different elements of research methodology appointed by our experts include:
Exploratory data mining
Market is filled with data. All the data is collected in raw format that undergoes a strict filtering system to ensure that only the required data is left behind. The leftover data is properly validated and its authenticity (of source) is checked before using it further. We also collect and mix the data from our previous market research reports.
All the previous reports are stored in our large in-house data repository. Also, the experts gather reliable information from the paid databases.
For understanding the entire market landscape, we need to get details about the past and ongoing trends also. To achieve this, we collect data from different members of the market (distributors and suppliers) along with government websites.
Last piece of the ‘market research’ puzzle is done by going through the data collected from questionnaires, journals and surveys. VMR analysts also give emphasis to different industry dynamics such as market drivers, restraints and monetary trends. As a result, the final set of collected data is a combination of different forms of raw statistics. All of this data is carved into usable information by putting it through authentication procedures and by using best in-class cross-validation techniques.
Data Collection Matrix
| Perspective | Primary Research | Secondary Research |
|---|---|---|
| Supplier side |
|
|
| Demand side |
|
|
Econometrics and data visualization model
Our analysts offer market evaluations and forecasts using the industry-first simulation models. They utilize the BI-enabled dashboard to deliver real-time market statistics. With the help of embedded analytics, the clients can get details associated with brand analysis. They can also use the online reporting software to understand the different key performance indicators.
All the research models are customized to the prerequisites shared by the global clients.
The collected data includes market dynamics, technology landscape, application development and pricing trends. All of this is fed to the research model which then churns out the relevant data for market study.
Our market research experts offer both short-term (econometric models) and long-term analysis (technology market model) of the market in the same report. This way, the clients can achieve all their goals along with jumping on the emerging opportunities. Technological advancements, new product launches and money flow of the market is compared in different cases to showcase their impacts over the forecasted period.
Analysts use correlation, regression and time series analysis to deliver reliable business insights. Our experienced team of professionals diffuse the technology landscape, regulatory frameworks, economic outlook and business principles to share the details of external factors on the market under investigation.
Different demographics are analyzed individually to give appropriate details about the market. After this, all the region-wise data is joined together to serve the clients with glo-cal perspective. We ensure that all the data is accurate and all the actionable recommendations can be achieved in record time. We work with our clients in every step of the work, from exploring the market to implementing business plans. We largely focus on the following parameters for forecasting about the market under lens:
- Market drivers and restraints, along with their current and expected impact
- Raw material scenario and supply v/s price trends
- Regulatory scenario and expected developments
- Current capacity and expected capacity additions up to 2027
We assign different weights to the above parameters. This way, we are empowered to quantify their impact on the market’s momentum. Further, it helps us in delivering the evidence related to market growth rates.
Primary validation
The last step of the report making revolves around forecasting of the market. Exhaustive interviews of the industry experts and decision makers of the esteemed organizations are taken to validate the findings of our experts.
The assumptions that are made to obtain the statistics and data elements are cross-checked by interviewing managers over F2F discussions as well as over phone calls.
Different members of the market’s value chain such as suppliers, distributors, vendors and end consumers are also approached to deliver an unbiased market picture. All the interviews are conducted across the globe. There is no language barrier due to our experienced and multi-lingual team of professionals. Interviews have the capability to offer critical insights about the market. Current business scenarios and future market expectations escalate the quality of our five-star rated market research reports. Our highly trained team use the primary research with Key Industry Participants (KIPs) for validating the market forecasts:
- Established market players
- Raw data suppliers
- Network participants such as distributors
- End consumers
The aims of doing primary research are:
- Verifying the collected data in terms of accuracy and reliability.
- To understand the ongoing market trends and to foresee the future market growth patterns.
Industry Analysis Matrix
| Qualitative analysis | Quantitative analysis |
|---|---|
|
|
