According to the recent study the industrial control system market is projected to reach an estimated $XX billion by 2028 from $XX billion in 2023, at a CAGR of 5% to 7% from 2023 to 2028. Growth in this market is primarily driven by emergence of industry 4.0 revolutions and digitalization in various end user industries, such as automotive, energy utilities, chemicals, and mining and increasing number of security breaches has accelerated the demand of the industrial control systems.
Browse XX figures / charts and XX tables in this 150 -page report to understand trends, opportunities and forecast in industrial control system market by component type (HMI, industrial robot, control valve, and sensor), control system (DCS, PLC, SCADA, and others), end use industry (power, energy and utilities, transportation systems, manufacturing, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World).
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“Industrial robot market is expected to remain the largest segment during the forecast period.”
Based on component type, the industrial control system market is segmented into HMI, industrial robot, control valve, and sensor. Lucintel forecasts that the industrial robot market is expected to remain the largest segment due to the increasing use for industrial robots among the manufacturing units, which helps in reducing labor requirement and energy usage and thereby ensuring a smooth and continuous workflow.
“Within the industrial control system market, the manufacturing segment is expected to remain the largest end use industry”
Based on end use industry the manufacturing segment is expected to witness the highest growth over the forecast period due to growing trend of automated systems and procedures in factories and other commercial settings and increasing demand for operational efficiency.
“North America will dominate the industrial control system market in near future”
North America will remain the largest region due to increase in deployment of smart grid solutions along with growing adoption of cloud-based services in the region.
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Major players of industrial control system market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. ABB, Emerson Electric, Honeywell International, Kawasaki Heavy Industries, Mitsubishi Electric, OMRON, and Rockwell Automation are among the major industrial control system providers.
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