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 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).
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Major Key players
- ABB Ltd (Switzerland),
- Schneider Electric (France),
- Honeywell International Inc (US),
- Siemens AG (Germany),
- Rockwell Automation (US),
- Omron Co (Japan),
- Emerson Electric Co (US).,
- General Electric Co (US),
- Yokogawa Electric Co (Japan),
- Alstom (France)
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.
November 20, 2018 –– Dragos, Inc. (Germany), a leading developer of Industrial Controls Systems announced its collaboration with General Electric Company (US), a multinational conglomerate to strengthen industrial threat detection and response. The Duo, together will leverage their respective expertise to help ICS owners and operators detect and respond to industrial cyber security threats more effectively.
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.
On the basis of type, the market is segmented into Programmable Logic Controllers (PLCs), Distributed Control Systems (DCS), and Supervisory control and Data Acquisition (SCADA).
On the basis of security solution, the market is segmented into Firewalls, DDOS, Encryption, and DBMS.
On the basis of Application, the market is segmented into manufacturing, oil and gas, power generation, logistics and transportation, food and beverages, water and waste management.
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- Industrial control system companies
- Software developers
- Electronic Sensor suppliers
- Industrial Internet of Thing specialist
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