Industrial Control Systems Market Forecasts to 2028 – Global Analysis By Hardware (Control Valves, Control Devices, Robots, Sensors), End User (Oil and Gas, Chemical, Electric Power, Manufacturing, Packaging) and By Geography
According to Stratistics MRC, the Global Industrial Control Systems Market is accounted for $45.30 billion in 2020 and is expected to reach $86.36 billion by 2028 growing at a CAGR of 8.4% during the forecast period. Growing demand for connectivity, digitization, and innovative technologies and high investments by industries in the R&D of industrial control systems are driving the market growth. However, the unavailability of authentication procedures in many industries is restraining the market growth.
An industrial control system is a combination of industrial devices, systems, networks, and industrial controls are used to operate and automate industrial processes. It is a combination of software and hardware facilitated with network connectivity to support the essential systems, assets, and processes. Industrial control systems are mainly used in transmission, power generation, and distribution to collect and analyze the data for the proper functioning of systems and processes.
Based on end-user, the food and beverage segment is going to have lucrative growth during the forecast period due to the growth of the economy and disposable incomes. The increasing population is also contributing to this industry.
By geography, North America is going to have significant growth during the forecast period due to the high investments by government administrations in the development of several security solutions such as DDoS, anti-virus, SCADA encryption, and firewall.
Some of the key players profiled in the Industrial Control Systems include ABB Limited, Emerson Electric Co., GLC Controls Inc., Honeywell International Inc., Mitsubishi Electric Corporation, Omron Corporation, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Yokogawa Electric Corporation.
Estimated Market Size in 2020:
USD 45.30 billion
Compound Annual Growth Rate (CAGR) from 2020 to 2028:
Predicted 2028 Value:
USD 86.36 billion
Tables, Graphs & Figures
Component, Solution, Service, Hardware, Security Type, End User and Region
Core Drivers and Opportunities:
Restraining Factors & Market Threats:
• Supervisory Control and Data Acquisition System (SCADA)
• Distributed Control System (DCS)
• Machine Execution System (MES)
• Hybrid (Hybrid of SCADA and DCS)
• Product Lifecycle Management (PLM)
• Enterprise Resource Planning (ERP)
• Remote Terminal Unit (RTU)
• Embedded Control Systems
• Other Components
• Data Loss Prevention
• Database Activity Monitoring
• Distributed Denial Of Service Mitigation
• Identity And Access Management
• Intrusion Detection System/Intrusion Prevention System
• Security And Vulnerability Management
• Security Configuration Management
• Security Information and Event Management
• Supervisory Control and Data Acquisition System (SCADA) Encryption
• Unified Threat Management (UTM)
• Virtualization Security and Distributed Denial of Services (DDoS)
• Consulting And Integration
• Incident Response Service
• Managed Security Service
• Support And Maintenance Service
• Training And Development Service
• Control Valves
• Control Devices
Security Types Covered:
End Users Covered:
• Oil and Gas
• Chemical and Petrochemical
• Electric Power
• Automobile Industry
• Medical & Life Science
• Food and Beverage
• Metals and Mining
• Electronics & Semiconductors
• Waste and Wastewater Treatment
• Pharmaceutical Industry
• Other End Users
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2019, 2020, 2021, 2025 and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Key Questions Answered In The Report
The Global Industrial Control Systems Market is majorly driven by increasing demand for modernization, smart grid, and cloud computing, and increasing need for industrial software and process automation.
The food and beverage segment is growing at a highest CAGR due to the increasing population and disposable income.
North America dominated with a significant market share due to the to the adoption of new technologies and supporting government policies.
Asia Pacific market is growing at a highest CAGR owing to the factors such as rising population, growing disposable incomes and government initiatives.
Key players in Industrial Control Systems Market include ABB Limited, Emerson Electric Co., GLC Controls Inc., Honeywell International Inc., Mitsubishi Electric Corporation, Omron Corporation, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Yokogawa Electric Corporation.
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