Industrial Controls System Market is Expected to Reach USD 81 billion in 2021

2024-11-04 09:49:13 News & Society

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Controlling industrial operations calls for the deployment of a sophisticated network of systems and equipment. The need for such control and monitoring solutions has given rise to a full-fledged global industrial control systems market over the years. In 2014, industrial control systems comprised a US$58 billion market, and analysts expect this market to expand to US$81 billion by the end of 2021. When translated to CAGR, this growth stands at 4.9% for the seven-year period from 2015 to 2021.

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Monitoring the performance of various systems and equipment at an industrial facility has become an indispensable part of gauging its efficiency and productivity, irrespective of the domain in question. By deploying a network of interconnected equipment, functions such as remote supervision, process automation, and automation of critical infrastructure can be achieved. In order to achieve these ends, different types of industrial control systems are available on the market. These include: Supervisory control and data acquisition (SCADA) systems, distributed control systems (DCS), and programmable logic controllers (PLC).

Increased Remote Supervision and Process Automation at Industrial Facilities Stirs Demand in Industrial Control Systems Market

All over the world, industrial facilities are moving closer to automation. Manual supervision has dipped dramatically, and this aspect drives the space for remote supervision. Companies are growingly dependent on software that enables industrial control - the growth of the SCADA, PLC and DCS markets is a result of this.

There are several other factors that drive the global industrial control systems market ? the most notable being the integration of PLC software with ERP systems and manufacturing execution systems. Furthermore, SCADA integration has become a visible trend in the food and beverage and oil and gas industries. This has taken the efficiency of existing industrial control systems to a whole new level, helping up their rate of adoption. The highest interest in industrial control systems is currently emerging from China, Indonesia and India ? countries that have a clear industrial development roadmap for the next few years. As more process automation projects are commissioned in these countries, the industrial control systems market in these regions will thrive.

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Demand for Industrial Control Systems in the Chemical Industry is Escalating; Distributed Control Systems Lead Market

The trillion-dollar global chemical industry continues to post promising growth. The production of chemicals in bulk, especially has boosted the deployment of industrial control systems in the chemical sector. Furthermore, rapidly industrializing nations in Asia Pacific have undertaken massive investments in power transmission and distribution. The utilities sector will thus contribute an appreciable share to the process automation market, and consequently, the industrial control systems market.

As compared to SCADA and PLC, the demand for DCS industrial control systems was the highest as of 2014. This segment comprised a 49.8% share of the total industrial control systems market, when sectioned according to the type of industrial control system. The setting up of new industrial facilities from scratch has furthered the demand for DCS, especially in South East Asia. The defining attributes of a DCS is its ease of deployment and low ownership cost.

In 2014, North America was reported as being the biggest regional market for industrial control systems with a 33.5% of the market. The adoption of PLC, SCADA as well as DCS is the highest in the oil and gas industry, where fracking activities and the shale boom have revitalized operations.

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