Astute Analytica’s recent report on the global Industrial Controls Market encompasses all of the factors that will impact the market in the coming years. The report covers a variety of topics, including the impact of COVID-19, shareholding segments, latest trends, future prospects, innovations, strategies, etc.
The Industrial Controls Market is estimated to witness a rise in revenue from US$ 203.60 Bn in 2021 to US$ 326.60 Bn by 2030. The market is registering a CAGR of 5.5% during the forecast period 2022-2030. Moreover, in terms of volume, the global industrial controls market is expected to project a CAGR of 4.2% during the forecast period 2022-2030.
Factors Influencing the Market
Favorable regulatory standards for tax breaks for infrastructure ventures are primarily driving the growth of the global Industrial Controls Market. In addition, other factors like the rapidly growing urban population, technological advancements, and growing R&D activities will offer lucrative growth opportunities for market growth.
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However, risks associated with equipment handling and high machine costs are expected to stymie the growth of the Industrial Controls Market. This report on the global Industrial Controls Market outlines every subject impacting the market. The report offers both qualitative and quantitative analysis based on every segment.
COVID-19 Impact Analysis
Following the coronavirus pandemic, the Industrial Controls Market experienced a sharp decline in terms of revenue. The COVID-19 pandemic forced the imposition of a lockdown to reduce infection among the population across countries. Moreover, manufacturing companies rely heavily on the supply of raw materials and components from other countries around the world, which was halted during the pandemic. Thus, the negatively affected the global Industrial Controls Market.
By Components segment of the Global Industrial Controls Market is sub-segmented into:
- IT and OT
- Programmable Logic Controller (PLC)
- Remote Thermal Unit (RTU)
- Control Loop
- Industrial Automation and Control System (IACS)
- Programmable Automation Controller (PAC)
- Human Machine Interface (HMI)
- Master Thermal Unit (MTU)
- Intelligent Electronic Device (IED)
By Type segment of the Global Industrial Controls Market is sub-segmented into:
- Supervisory Control and Data Acquisition (SCADA)
- Distributed Control Systems (DCS)
- Process Control System
- Safety Instrumented System
- Energy Management System
By Network Component segment of the Global Industrial Controls Market is sub-segmented into:
- Communication Router
- Remote Access Points
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By End User segment of the Global Industrial Controls Market is sub-segmented into:
- Oil and Gas
- Food and Beverage
- Medical Device
- Aerospace and Defence
By Region segment of the Global Industrial Controls Market is sub-segmented into:
- North America
- The U.S.
- Western Europe
- The UK
- Rest of Western Europe
- Eastern Europe
- Rest of Eastern Europe
- Western Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Rest of Latin America
Key Players Insights
Emerson Electric Co., Endress+Hauser AG, Honeywell International Inc., Mitsubishi Electric Corp., Omron Corporation, Rockwell Automation, Inc., Schneider Electric SE, Siemens AG, Yokogawa Electric Corporation, GE Digital and ABB Ltd (ABB Ability) among others.
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