Industrial Controls Market Global Report 2020 from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global Industrial Controls market. This Research Report Forecast 2020-2023 is a valuable source of insightful data for business strategists. It provides the industry overview with growth analysis and historical & futuristic cost, revenue, demand and supply data.
The global industrial controls market was worth $107.2 billion in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 7.79% and reach $144.8 billion by 2023.
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Scope: 1) By Control system: Distributed Control System (DCS); Supervisory Control & Data Acquisition System (SCADA); Manufacturing Execution System (MES) 2) By End User: Automotive; Utility; Electronics & Semiconductor; Mining; Others
Companies Mentioned: Mitsubishi Electric Factory Automation; Siemens; Honeywell International Incorporation; Emerson Electric Company; Schneider Electric SA
Regions: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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The industrial controls market is expected to be aided by rapid growth in investments in smart city projects in many countries globally. Industrial controls are being designed using artificial intelligence (AI) and internet of things (IoT) that can support energy, telecommunications, surveillance and other services. Smart city technologies are integrated with electrical and electronic components, thereby benefitting the companies operating in this market. In 2018, APG Algemene Pensioen Groep N.V. announced investment of 250 million in Smart City Infrastructure Fund, for development of smart city projects across North America, Europe, Australia and other major urban areas in the world. The concept of smart cities is also increasingly being adopted in developing nations. For instance, more than 1,000 smart city pilot projects are either ready for or are under construction globally and around 500 of these projects are in China.
-An extensive analysis of the Industrial Controls market trends and shares from 2017 to 2023 to identify market opportunities and analyze industry developments
-Comprehensive analysis with respect to investments and price trends that impact the outlook of the Global Industrial Controls market between 2020 and 2023
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.
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Malicious cyber-attacks due to lack of security in industrial infrastructure are acting as a restraint on the industrial controls market. Industrial controls are increasingly being integrated with connected sensors and integrated data systems making them vulnerable to cyber-attacks. For instance, in April 2017, 156 tornado alarm systems in the US city of Dallas were hacked forcing authorities to shut down the emergency system.
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A list of key factors responsible for building the upcoming opportunistic roadmap for the Industrial Controls market at the Global, regional, and country level.
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