Industrial Controls Market Predicted to Hit $173.96 Billion by 2025, at 5.3% Growth Rate

Increase in demand for IoT-based smart solutions, rise in automation in various industries, and upsurge in demand for mass production in manufacturing industries to cater to the needs of growing population drive the growth of the global industrial controls market. By control system, the distributed control system segment garnered the major share in 2017. On the other hand, by geography, Asia-pacific is expected to showcase the fastest CAGR of 10.3% by 2025.

Portland, OR, Feb. 24, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global industrial controls market was estimated at $117.37 billion in 2017 and is expected to hit $173.96 billion by 2025, registering a CAGR of 5.3% from 2018 to 2025. The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive scenario, and changing market trends.

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Rise in demand for IoT- based smart solutions, increase in automation in various industries, surge in demand for mass production in manufacturing industries to cater to the needs of growing population, and upsurge in adoption of ICS by various industries fuel the growth of the global industrial controls market. On the other hand, increase in cyber-attack threats, and lack of skilled professionals as well as awareness toward industrial security solutions curtail down the growth to some extent. Nevertheless, deployment of smart grid for the protection of critical infrastructure from cyber-attacks is expected to usher in a plethora of opportunities in the industry.

The distributed control system segment to maintain its dominance during the forecast period-

Based on control system, the distributed control system segment held the largest share in 2017, generating more than two-fifths of the total market. The manufacturing execution system segment, on the other hand, would grow at the fastest CAGR of 7.1% till 2025.

The utility segment to lead the trail by 2025-

Based on end-user, the utility segment contributed to more than one-fourth of the total market revenue in 2017, and is projected to rule the roost by the end of 2025. At the same time, the electronics & semiconductors segment would cite the fastest CAGR of 6.8% during 2018–2025.

North America generated the highest share in 2017-

Based on geography, North America accounted for more than half of the total market share in 2017, and is anticipated to dominate during the study period. Simultaneously, the region across Asia-Pacific would register the fastest CAGR of 10.3% throughout the estimated period.

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Key players in the industry-

Key market players analyzed in the market report include Emerson Electric Corporation, Honeywell International Incorporation, Yokogawa Electric Corporation, Schneider Electric SA, Kawasaki Robotics, Rockwell Automation, Inc., Mitsubishi Electric Factory Automation, ABB Ltd., Omron Corporation, and Siemens. These market players have combined several strategies including partnership, expansion, collaboration, joint ventures, and others to brace up their stand in the industry.

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.


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