The global Industrial Controls market size was estimated at USD 140 billion in 2023 and is projected to reach USD 239.9354 billion in 2030 at a CAGR of 8% during the forecast period 2023-2030.
Industrial controls systems refer to various automation devices, machines and equipment used in industry. They are developed to better control and monitor industrial processes and automate tasks to increase efficiency and reliability while improving quality. These systems include a variety of controls systems such as supervisory control and data acquisition or SCADA, programmable logic controllers or PLCs, and distributed controls systems or DCS.
They can help automate processes, critical infrastructure or remote monitoring and management. They also help collect data from remote devices, monitor the operation of distributed factories, and perform automated electromechanical processes. Rapid adoption of cloud-based services and growing automation trends in industry are important factors for the global industry. Market dominance. Automation helps industries achieve better accuracy and quality while reducing costs.
Growth is driven by the demand for intelligent controls systems and automation in various industries, mass production in industry and the adoption of industrial controls systems in various end-uses such as automotive and mining, as well as increasing R&D investments. in the industrial control market. However, increasing cyber-attacks, lack of authentication procedures, lack of experienced professionals and awareness of industrial security solutions are restraining the growth of the industrial controls market. In addition, the deployment of a smart grid to protect critical infrastructure against cyber-attacks and cloud computing for industrial controls systems creates lucrative opportunities for the industrial surveillance market.
The industrial controls market has been significantly affected by the outbreak of COVID-19, as production facilities in the electronics and semiconductor industries had been shut down due to slowdowns and labor shortages worldwide. The COVID-19 epidemic has caused a significant and long-term reduction in production. In addition, travel bans and facility closures have kept workers away from factories, leading to slower growth in the industrial control market in 2020.
However, the negative impact of COVID-19 on the industrial control industry is expected to last for a short time and the market will see a strong recovery and high demand for industrial control system installations worldwide.
The pandemic has had a significant impact on businesses around the world, with countries such as India and China bearing the brunt of the outbreak, but markets have recovered. The demand for industrial control systems in the industrial sector is expected to increase. The increasing use of various smart solutions compatible with IoT is increasing the demand for industrial control. In addition, a great advantage for the supplier is the increase in the demand for mass production in the manufacturing industry, in the industrial sector there is a growing demand for industrial control equipment to monitor and control physical processes in the power and oil and gas industries. These factors have led to market expansion and increased demand for Industrial Controls solutions.
North America to Dominate the Market