Industrial Controls Global Market To Reach Value Of Almost $50 Billion In 2025
27 Aug, 2021
The industrial controls market consists of sales of different types of control systems and related instrumentation. Industrial control systems (ICS) include networks, devices and systems used to operate and/or automate industrial processes.
Global Industrial Controls Market Size And Drivers:
The global industrial controls market is expected to grow from $45.82 billion in 2020 to $47.34 billion in 2021 at a compound annual growth rate (CAGR) of 3.3%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $49.6 billion in 2025 at a CAGR of 1%. The industrial controls market is expected to be aided by rapid growth in investments in smart city projects in many countries globally.
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Trends In The Global Industrial Controls Market
OEMs are increasingly outsourcing product design and development processes to EMS partners to reduce overall costs and shift from fixed costs to variable costs. Some OEMs are collaborating with EMS partners and moving into new business models such as joint design manufacturing (JDM) and outsourced design manufacturing (ODM). JDM model is further divided into high touch JDM and low touch JDM. ODM model focuses on qualification and system integration testing, thus indicating a shift in industrial controls manufacturing process.
Global Industrial Controls Market Segments:
The global industrial controls market is further segmented based on control system, end user, component and geography.
By Control System: Distributed Control System (DCS), Supervisory Control & Data Acquisition System (SCADA), Manufacturing Execution System (MES)
By End User: Automotive, Utility, Electronics & Semiconductor, Mining, Others
By Component: Modular Terminal Block, Relays and Optocouplers, Surge Protectors, Marking Systems, Printing, Ferules Cable Lugs, Hand Tools, Testers, Enclosure Products, PCB Connectors and Terminals, Heavy Duty Connectors, Analog Signal Conditioner, Electronics Housings, Power Supplies, Industrial Ethernet, Remote IO
By Geography: The global industrial controls market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.
Read More On The Report For The Global Industrial Controls Market At:https://www.thebusinessresearchcompany.com/report/industrial-controls-global-market-report
Industrial Controls Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides industrial controls market overviews, analyzes and forecasts market size and growth for the global industrial controls market, industrial controls market share, industrial controls market players, industrial controls market segments and geographies, industrial controls market’s leading competitors’ revenues, profiles and market shares. The industrial controls market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.