Report ID: UCMIG20I2052
Industrial Controls Market Size, Share, Growth Analysis, By Control System(Distributed Control System (DCS), Supervisory control & data acquisition system (SCADA), Manufacturing Execution System (MES), Other), By Component(Modular Terminal Blocks, Relays & Optocouplers, Surge Protectors, Marking Systems), By End User(Automotive, Utility, Electronics & Semiconductors, Mining), By Region(North America, U.S., Canada, Mexico) - Industry Forecast 2024-2031
Report ID:
UCMIG20I2052 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
Industrial Controls Market Insights
Market Overview:
Lucrative growth opportunities for the industrial control market are provided by the increase in demand for cloud-based services and growth in the deployment of smart grid solutions to protect critical infrastructures from cyberattacks. Owing to cyber-attacks on critical infrastructure, organizations are constantly renovating solutions to improvise control and monitoring methods for systems, which offer real-time visibility to control suspicious behavior and take required actions. During the forecast period, owing to these factors, the industry is estimated to gain momentum. Market growth is further anticipated by some of the leading companies in the market that have innovated new technologies and systems to expand their portfolio of industrial control systems and witnessed significant industrial controls. The industrial control market growth is driven by demand for IoT-based smart solutions & automation in various industries, mass production in the manufacturing sector, and adoption of industrial control systems in various end users such as automotive and mining ,and a rise in R&D investments.
Industrial Controls Market, Forecast & Y-O-Y Growth Rate, 2020 - 2028
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This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Industrial Machinery by segment aggregation, the contribution of the Industrial Machinery in Capital Goods and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
Industrial Controls Market Report Snapshots
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