New York, Oct. 20, 2023 (GLOBE NEWSWIRE) -- According to the research report “Global Industrial Controllers Market” published by Consegic Business Intelligence, the market was sized at USD 138.25 Billion in 2022, USD 143.69 Billion in 2023 and is expected to reach over USD 233.49 Billion by the year 2031, growing at a CAGR of 6.3%.
An industrial controller is a specialized electronic device that serves as the central component in industrial automation and manufacturing processes. The controllers efficiently manage and monitor various machinery, equipment, and processes within an industrial setting, executing predefined tasks, and control functions to ensure the smooth operation of production processes.
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The integration of smart firewalls with industrial controllers has significantly contributed in driving the growth of industrial controllers market. Smart firewalls enable remote monitoring and management of industrial controllers. The capability allows for real-time diagnostics and troubleshooting, reducing downtime and maintenance costs, hence contributing remarkably in bolstering the market growth. For instance, in May 2023, Emerson Electric Co. improved perimeter security for the DeltaV distributed control system by integrating NextGen Smart Firewall to provide more granular access control.
Moreover, the integration of industrial controllers with Industry 4.0 presents significant opportunities for market growth. Industrial controllers integrated with Industry 4.0 collect and analyze vast amounts of data from sensors and equipment, providing insights for process optimization. Moreover, the controllers use data analytics and machine learning algorithms to predict the maintenance requirements of the machine, thus reducing downtime and extending equipment lifespan. However, high manufacturing cost associated with industrial controllers is restraining the market growth.
| Report Attributes | Report Details |
| Market Size By 2031 | USD 233.49 Billion |
| Forecast Period | 2023-2031 |
| CAGR (2023-2031) | 6.3% |
| Base Year | 2022 |
| Study Timeline | 2017-2031 |
| Key Players | NATIONAL INSTRUMENTS CORP, Ascon Tecnologic S.r.l., Siemens AG, Mitsubishi Electric Corporation, Emerson Electric Co., GE Electric, Red Lion (Spectris), Schneider Electric, ABB, Honeywell International Inc. |
| By Type | Programmable Logic Controller (PLC), Computerized Numerical Controller (CNC), Distributed Control System (DCS), Programmable Automation Controller (PAC), Supervisory Control and Data Acquisition System (SCADA), Industrial Automation and Control System (IACS), and Human-Machine Interface (HMI) |
| By Control | Open Loop Control, Closed Loop Control, ON-OFF Control, Feedforward Control, and Feedback Control |
| By Application | Pumping and Ventilation, Electrical Charging, Waste Water Management, Assembling and Filling, Smart Grid, and Others |
| By End-User | Food Processing & Beverages, Automotive, Manufacturing, Transportation, Energy & Utilities, Oil & Gas, and Others |
| Report Coverage | Company Ranking and Market Share, Growth Factors, Total Revenue Forecast, Regional Competitive Landscape, Business Strategies, and more |
| By Region | North America, Europe, Asia-Pacific, Latin America, Middle East & Africa |
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Industrial Controllers Market Growth Drivers:
- Increasing industrial automation is a significant driver for the growth of industrial controllers market.
- Stringent safety regulations imposed by the government to enhance worker safety is driving the adoption industrial controllers.
Restraints
- High manufacturing cost associated with industrial controller is restraining the market growth.
Opportunities
- Integration of industrial controllers with Industry 4.0 presents significant opportunities for market growth.
Global Industrial controllers Market Segmentation Details:
Based on Type, the Programmable Logic Controller (PLC) segment contributed the largest shares to the market growth in 2022 as PLCs offer diagnostic capabilities that assist in troubleshooting and preventive maintenance. PLCs log data, track performance, and provide alerts on issues arising, this enabling timely maintenance and reducing downtime. Additionally, PLCs are designed to operate in harsh industrial environments with temperature variations, dust, humidity, and electrical noise. PLCs are built to withstand harsh conditions and provide reliable performance, crucial in industrial settings, further promoting market growth.
Based on Control, on/off control segment offered substantial shares to the market in the year 2022 as on/off control is one of the simplest and most cost-effective control strategies. In addition, on/off controllers are used in industrial processes with harsh conditions and withstand harsh environments to provide reliable control without the need for frequent adjustments. Moreover, on/off control system also contributes to energy saving capabilities, further contributing to the dominance of on/off segment.
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Based on Application, the smart grid segment holds the largest market share in 2022 as industrial controllers manage and coordinate the operation of distributed energy resources (DERs) including solar panels, wind turbines, and battery storage systems. Industrial controllers ensure the power generation and consumption are balanced to maintain grid stability. Moreover, controllers collect data from sensors and meters placed throughout the grid, enabling operators to monitor voltage levels in real-time. Furthermore, the increasing investments by key players in developing smart grid systems is also contributing notably in fueling the market growth.
Based on End-User, the manufacturing segment offered substantial shares to the global industrial controllers market in the year 2022 as manufacturing involves complex processes that require precise control of variables including temperature, pressure, flow rates, and material handling. Industrial controllers play a crucial role in ensuring that the processes run efficiently and consistently, leading to higher product quality and reduced waste. Additionally, manufacturers are increasingly focused on energy efficiency to reduce operational costs and minimize the environmental footprint. Industrial controllers help to optimize energy consumption by regulating equipment and processes to operate at peak efficiency. Moreover, manufacturing equipment has long lifecycles, and industrial controllers need to be reliable and durable to support extended operations. Manufacturers invest in proven and reliable control systems, contributing to the dominance of industrial controllers in manufacturing sector.
Based on Region, North America has been a major contributor to the growth of the industrial controllers market. North America encompasses diverse range of advanced manufacturing industries, including automotive, aerospace, electronics, and pharmaceuticals. The industries rely heavily on industrial controllers for automation, process control, and quality assurance. Additionally, North American industrial sector has a strong automation base to improve productivity, quality, and efficiency, driving the demand for industrial controllers, essential for automating manufacturing processes.
List of Major Global Industrial Controllers Market Players
The market research report examines various market factors to determine the key drivers, limitations, and opportunities affecting market players. The report includes a SWOT analysis, regional analysis, and segment analysis to give a complete view of the market situation. This evaluation helps to identify possible growth opportunities through product utilization, business strategies, and the launch of new products. The following are major market players operating in the market environment —
- NATIONAL INSTRUMENTS CORP
- Ascon Tecnologic S.r.l.
- Siemens AG
- Mitsubishi Electric Corporation
- Emerson Electric Co.
- GE Electric
- Red Lion (Spectris)
- Schneider Electric
- ABB
- Honeywell International Inc.
Recent Developments:-
- In May 2022, ABB enhanced upgrading cement grinding equipment and process control systems in the UAE with the aim of improving operational reliability and uniformity across multiple locations.
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Global Industrial controllers Market Segmentation:
- By Type
- Programmable Logic Controller (PLC)
- Computerized Numerical Controller (CNC)
- Distributed Control System (DCS)
- Programmable Automation Controller (PAC)
- Supervisory Control and Data Acquisition System (SCADA)
- Industrial Automation and Control System (IACS)
- Human-Machine Interface (HMI)
- By Control
- Open Loop Control
- Closed Loop Control
- ON-OFF Control
- Feedforward Control
- Feedback Control
- By Application
- Pumping and Ventilation
- Electrical Charging
- Waste Water Management
- Assembling and Filling
- Smart Grid
- Others
- By End-User
- Food Processing & Beverages
- Automotive
- Manufacturing
- Transportation
- Energy & Utilities
- Oil & Gas
- Others
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Key Questions Covered in the Industrial controllers Market Report
- What will be the potential market valuation for the industrial controllers market by 2031?
- The market valuation for the industrial controllers market is expected to be approximately USD 233.49 Billion by 2031 owing to the stringent safety regulations imposed by the government and growing demand for automation.
- Based on current market trends and future predictions, which geographical region will have the largest impact on the industrial controllers market's growth in the coming years?
- Asia Pacific is anticipated to witness the fastest CAGR during the forecast period due to the expanding manufacturing sector.
- What specific segmentation details are covered in the industrial controllers market report, and how is the dominating segment impacting the market growth?
- On/off control accounted for the largest market share in 2022 as on/off control is one of the simplest and most cost-effective control strategies. In addition, on/off controllers are used in industrial processes with harsh conditions and withstand harsh environments to provide reliable control without the need for frequent adjustments.
- What specific segmentation details are covered in the industrial controllers market report, and how is the fastest segment anticipated to impact the market growth?
- Distributed Control System (DCS) is predicted to witness the fastest CAGR in the industrial controllers market due to the expanding industrial automation for efficiency, cost savings, and improved control that raises the demand for DCSs.
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