Industrial Control Systems (ICS) Market Share, Challenges, Opportunities, Market Entry Strategies, Key Manufacturers Ana

Industrial Control Systems (ICS) Market Analysis

Industrial Control Systems Market Size was valued at USD 101 Billion in 2021. The Industrial Control Systems market industry is projected to grow from USD 172 Billion in 2022 to USD 246 Billion by 2030, exhibiting a compound annual growth rate (CAGR) of 8.6% during the forecast period (2022 - 2030). Industrial control systems or ICS, simply put, is an assembly of industrial control, networks, industrial devices, and systems that are used for automating and operating the industrial processes. It is an integration of software and hardware facilitated with network connectivity for supporting the essential systems, processes, and assets.

Various factors are fuelling the global industrial control systems market growth. According to the recent MRFR market estimates, such factors include the emergence of IoT, growing need for industrial software and process automation, rising number of sophisticated cyber-attacks on ICS systems, and the burgeoning need for compliance with different upcoming regulations.

On the flip side, high procurement costs, impact of the COVID-19 pandemic, and lack of technical efficiency may impede the global industrial control systems (ICS) market growth.

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Industrial Control Systems (ICS) Market Segmentation

The MRFR report throws light on an inclusive segmental analysis of the global industrial control systems market based on application, components, and control systems.

By control systems, the global industrial control systems market is segmented into hybrid (hybrid of DCS and SCADA), distributed control system (DCS), and supervisory control and data acquisition (SCADA).
By components, the global industrial control systems market is segmented into SCADA communication systems, remote terminal unit (RTU), programmable logic controller (PLC), human machine interface (HMI), and others (remote diagnostics and maintenance, control server).
By application, the global industrial control systems market is segmented into water and water-waste treatment, automobile industry, pharmaceutical industry, oil and gas, electrical power (distribution, transmission, and generation), and others (transportation, defense, and aerospace).

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Regional Analysis

The Industrial control system Market divides into different regional markets based on revenue and application. The major regional markets for the Industrial control system Market are North America, Asia Pacific, Europe, Latin America, the Middle East, and Africa. The sector's leading regional market in North America has the largest share of revenue and significant players. The need for a reliable, speedy, and safe automation process makes the region a well of opportunities. The leading market is followed by the Asia Pacific region and then by the European region.

Key Players

The prominent players profiled in the global industrial control systems market report include Alstom (France), Yokogawa Electric Co (Japan), General Electric Co (US), Emerson Electric Co (US)., Omron Co (Japan), Rockwell Automation (US), Siemens AG (Germany), Honeywell International Inc (US), Schneider Electric (France), and ABB Ltd (Switzerland), among others.

The industrial control systems market is fragmented and competitive with the presence of several international and domestic market players. These players have incorporated several strategies to stay at the forefront and also cater to the customers growing needs, such as contracts, collaborations, joint ventures, and partnerships, and others. Besides, they are also investing in research and development activities to strengthen their portfolios and also create hold in the market.

Industry Updates

March 2021- White House is creating a plan for securing industrial control systems.

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