Industrial Control Systems Market Segmentation, Development Trends, Revenue, Growth, Current Trends, Future Growth Study and Strategic Assessment | Impact of COVID-19

Market Highlights

Acknowledging the kind of traction, the market is garnering currently, Market Research Future (MRFR) in its recently published study report asserts that the global industrial controls systems market will grow enormously by 2023 registering a phenomenal CAGR throughout the forecast period (2018 to 2023).

Growth Boosters and Main Challenges

The industrial control systems market has grown considerably over the years, with the chief reasons being the massive investments being made by countries on smart technologies coupled with the rising cyber risks like night dragon and stuxnet. The surge in smart grid deployments, cloud computing for infrastructure protection, along with the mounting spending by industries on industrial control systems can give rise to abundant growth opportunities for the ICS market in the ensuing years.

Dugu and Flame are some of the most menacing cyber-attacks that have led to increased concerns since they have caused extreme destructions of essential infrastructures, energy efficiencies, power grids and pipelines in recent years. Infrastructures everywhere have become highly susceptible to risks owing to rising use of complicated IT systems, control and command systems as well as data communication systems. Increasing adoption of industrial robots within the manufacturing sector, mass production and connected supply chain to cater to the expanding population has boosted the deployment of industrial automation across several industries.

The industrial control system market share can expand lucratively in the coming years, given the rising number of mergers & acquisitions amongst players to gain major stronghold. Some of the significant M&A activities reported in the past few years include Sourcefire’s acquisition by IBM, Trusteer’s acquisition by IBM, Invensys’ acquisition by Schneider, McAfee’s acquisition by Intel and Industrial Defender’s acquisition by Lockheed Martin.

Segmentation:

By Control System: Supervisory Control and Data Acquisition (SCADA), Distributed Control System (DCS), and Hybrid (hybrid of SCADA and DCS).

By Components: Human Machine Interface (HMI), Programmable Logic Controller (PLC), Remote Terminal Unit (RTU), SCADA Communication Systems, and others (control server, remote diagnostics & maintenance).

By Application: Electrical Power, Oil & Gas, Water & Waste-water treatment, and Automobile among others (pharmaceutical, aerospace, defense, transportation).

By Regions: North America, Europe, APAC and Rest-of-the-World.

Regional Outlook

The future prospects of the Industrial control system market size look promising as it is expected to grow favorably in the primary regions of Europe, North America, Asia Pacific (APAC), and the rest of the world (RoW).

In the years ahead, the industrial control system market is expected to gain the highest traction in North America, in response to the mounting demand for reliable and safer process automation in transportation, utilities, oil and gas, and water, and water-waste treatment, and others. The industrial control systems market in the region also gets a substantial boost from the rising deployment of cloud, tablets, and smartphones in supervisory control and data acquisition (SCADA) along with ICS. Regulatory compliance by the government in the region for maintenance, security and operation of crucial infrastructure also benefits the market to a great extent.

The APAC market can witness excellent growth over the forthcoming years, on account of the rising adoption of the latest technologies like IoT within the manufacturing sector along with the emergence of the industry 4.0. Amplified demand for smart grid, cloud computing and modernization are also working in favor of the regional market.

The European market seems to be making remarkable progress backed by the growing demand for cloud-based services combined with the rising deployment of smart grid solutions as cyber-attacks surge in number. Many of the renowned vendors in the region are coming up with innovative technologies and systems in an attempt to expand their product portfolio and cater to a higher number of consumers in the market.

Top Players

Top players influencing the industrial control system market size include General Electric Co (US), Honeywell International Inc (US), Alstom (France), ABB Ltd (Switzerland), Omron Co (Japan), Schneider Electric (France), Yokogawa Electric Co (Japan), Rockwell Automation (US), Siemens AG (Germany), Emerson Electric Co (US), to name a few.

Browse Complete Report @ https://www.marketresearchfuture.com/reports/industrial-control-systems-market-1214