Industrial Control Systems Market, Revenue Forecast And Interesting Opportunities From 2022 To 2030 With Size, Share, Analysis, Growth By MRFR
The size of the Industrial Control Systems Market is going to reach 168.53 billion Dollars by 2026 end. During the projected period of 2020 to 2026, the Industrial Control Systems market is anticipated to evolve with a Compound Annual Growth Rate or CAGR of 8% as per the research and analysis done by experts. In the year 2019, the market was of the size 121.48 billion dollars in revenue value. Industrial Control Systems, abbreviated as ICS, refer to a collection of various kinds of systems of control as well as related instrumentation. This can include controls, networks, systems and devices. These are used for the purpose of automating the operations of industrial processes. Some examples of ICSs include Intelligent Electronic Devices, Remote Terminal Units and many more. The growth of the market can be attributed to the rise seen in the demand for services that are cloud-base and also the growth seen in smart grid deployment solutions. The aim of these measures is to preserve infrastructures and protect them to ensure cybersecurity to prevent cyber-attacks. The advancements in technology and the constant research done in this field also contribute to the growth of the market. These and several other factors are responsible for the growth of the market in the projected period.
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Market Segmentation
The market for Industrial Control Systems can be classified on three grounds. These include segmentation by application, component and control systems.
- Taking into account the application, the segments are Oil And Gas, Pharmaceutical Industry, Electrical Power, Automobile Industry as well as Water Treatment And Water Waste.
- Taking into account the component, the segments are Human Machine Interface or HMI, Programmable Logic Controller or PLC, Remote Terminal Unit or RTU. Out of these, the segment that has dominated the market share the most is the segment for Industrial Ethernet.
- Taking into account the type of control systems, the segments are Supervisory Control And Data Acquisition or Scada, Distributed Control System or DCS and Hybrid Of DCS and Scada. Out of these, the segment that has held the highest share in the market previously is the DCS segment. In the years of the forecast period, the segment is expected to continue to dominate.
Regional Classification
On the grounds of region, the regional segments are Africa, Europe, Latin America, Asia Pacific and Middle East. North America is known to have dominated the market share previously and is predicted to continue its position in the Industrial Control Systems Market for the forecast period of 2020 to 2026. On the other hand, the highest rate of growth or Compound Annual Growth Rate will be exhibited by the APAC or Asia Pacific region. This can be attributed to the increased adoption of technologies in the region and the developments being made in the field of technology.
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Industry News
There are some major players for Industrial Control Systems in the market. These include Alstom, Yokogawa Electric Co, General Electric Co, Emerson Electric Co, Omron Co, Rockwell Automation, Siemens AG, Honeywell International Inc, Schneider Electric and ABB Ltd.
Published Tue, 16 Aug 2022 21:52:09 -0500
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