DUBLIN--(BUSINESS WIRE)--The "Industrial Controls Market by Control Systems, Component, and End User - Global Opportunity Analysis and Industry Forecast, 2017-2024" report has been added to ResearchAndMarkets.com's offering.
The global industrial controls market is expected to reach $163,345.7 million in 2024, from $117,370.3 million in 2017 growing at a CAGR of 5.1% from 2018 to 2024.
The rise in demand for IoT-based smart solutions and automation in various industries increase the demand for the industrial controls. Moreover, rise in demand for mass production in manufacturing industries to cater to the growth in population also boosts the market growth. These factors increase the demand for industrial controls in the market. In addition, surge in demand for cloud-based services and growth in deployment of smart grid solutions to protect critical infrastructures from cyberattacks provide lucrative growth opportunities.
The global industrial controls market is segmented based on control system, components, end user, and region. The component segment is classified into sensor, switch & relay, control device (drive, programmable logic controller (PLC), monitoring device, and others), and others includes. In 2017, sensor segment contributed the highest share in industrial controls market and it is expected to dominate the market throughout the forecast period. The end-user industry segment is divided into automotive, utility, electronics & semiconductor, mining, and others. In 2017, the utility segment accounted for the highest market share due to increased demand for industrial controls in oil & gas industries to control and monitor physical processes.
- ABB Ltd
- Emerson Electric Company
- Honeywell International Incorporation
- Kawasaki Robotics
- Mitsubishi Electric Factory Automation
- Omron Corporation
- Rockwell Automation, Inc.
- Schneider Electric SA
- Siemens AG
- Yokogawa Electric corporation
Key Topics Covered:
2: Executive Summary
3: Market Overview
4: Industrial Controls Market, By Control System
5: Industrial Controls Market, By Components
6: Industrial Controls Market, By End User
7: Industrial Controls Market, By Region
8: Company Profiles
For more information about this report visit https://www.researchandmarkets.com/research/lbx4dz/global_industrial?w=4