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Industrial control process manufacturing market worth $96.2 billion by 2021

Industrial control process manufacturing market worth $96.2 billion by 2021

The global industrial control for process manufacturing market was worth USS$61.23 bn in 2014 and is anticipated to reach US$96.20 bn by the end of 2021. During the forecast period, the overall market is expected to expand at a CAGR of 5.2%.

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The pressing need to ensure uniformity in manufactured goods by various industries has been driving the global industrial control for process manufacturing market. Large number of industries such as healthcare, chemicals, oil and gas, power, textiles, and food and beverages have been deploying industrial control for process manufacturing technologies to ensure safety in complex manufacturing processes as well.

The growth of manufacturing activities in the developing regions such as India and China have given this market a much-needed impetus. The growing demand for consistent products in terms of both quality and quantity has also propelled the adoption of technologies used in the global market such as supervisory control and data acquisition (SCADA), manufacturing execution systems (MES), programmable logic (controller), and distributed control systems (DCS).

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This growth will largely be determined by the rising demand for safety measures in manufacturing units. The ability of process control systems to monitor failures and defects in manufacturing activities to avoid longer lead time or accidents has worked in benefit of this market.

The only factor hampering the growth of this market is the maturing industries in the developed regions that are no longer investing in the industrial control for process manufacturing systems.

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The Americas have held a dominant position in the global industrial control for process manufacturing since 2014. In that year, the region held a share of 35% in the overall market in terms of revenue.

The growth of the industrial control for process manufacturing in the Americas is a result of ongoing replacement of current industrial control systems with modern ones to bring in advanced processing solutions. The growing oil and gas industry of the Americas has also been responsible for this unprecedented growth as the industry requires advanced industrial controls for processing and manufacturing final products.

Owing to these reasons, the industrial control for process manufacturing market in the Americas will expand at a CAGR of 4.8% between 2015 and 2021, reaching a valuation of US$32.46 bn by 2021.

On the other hand, Asia Pacific industrial control for process manufacturing market will rise at a CAGR of 6.2% as expenditure on infrastructure increases. Furthermore, the growing activities in the oil and gas industry are also expected to fuel this regional market in the coming years.

The growing demand for electricity in China and India and development of smart grid infrastructure will be largely responsible for burgeoning demand for SCADA systems in these countries.

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According to TMR analysts, the distributed control systems (DCS) segment has been leading the overall market. Analysts anticipate that this segment will rise at a CAGR of 4.7% between 2015 and 2021.

The demand for DCS has been growing due to their ability control production lines across a wide range of industrial verticals. Furthermore, their ability to control sprawling plant areas in central control room is also boosting this market.

However, the SCADA systems segment is expected to be the fastest-growing segment as they are known to be far more advanced than DCS solutions.

Some of the key players in the global industrial control for process manufacturing are Honeywell International Inc., ABB Ltd., Emerson Electric Co., Siemens AG, and Schneider Electric S.E. The report states that companies will have to drive their shares through innovative solutions pertaining to automation that make tasks simpler and safer.

Furthermore, companies will also have to focus on mergers and acquisitions to improve their international presence and product portfolio.

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Power, chemical and oil & gas sectors are major contributors to the global industrial control for process manufacturing market. Capability of DCS and SCADA solutions for real time monitoring and controlling of manufacturing facilities is boosting the overall market growth.

Moreover, reduction in wastage of raw materials in process industries is driving the demand for industrial controls for process manufacturing solutions. However, threat from cyber attack and security issues is retraining the growth of SCADA and DCS solutions.

This market research study analyzes the industrial control for process manufacturing market globally and provides estimates in terms of revenue (USD billion) from 2015 to 2021. It recognizes the drivers, restraints and opportunities affecting the industry and analyzes their impact over the forecast period.

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