Industrial Control Systems Market Size
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 185.28 Billion |
| Market Size (2029) | USD 283.77 Billion |
| CAGR (2024 - 2029) | 8.90 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Industrial Control Systems Market Analysis
The Industrial Control Systems Market size is estimated at USD 185.28 billion in 2024, and is expected to reach USD 283.77 billion by 2029, growing at a CAGR of 8.90% during the forecast period (2024-2029).
The rising cost of labor and the immense pressure on manufacturers to meet strict deadlines are resulting in the increased deployment of automation in factories. The automation of factories has fueled the market for ICS.
- Connecting the industrial equipment and machinery and obtaining real-time data have played a key role in the adoption of SCADA, HMI, PLC systems, and software that offer visualization, thus, enabling reducing the faults in the product, reducing downtime, scheduling maintenance, and switching from being in the reactive state to predictive and prescriptive stages for decision-making.
- In addition, the quality control issue involved with human error is minimized, owing to the systems' efficiency, reliability, and faster work rate. Moreover, the demand for mass production in manufacturing industries fuels the need for industrial controls to cater to the demands of growing population.
- Moreover, government efforts such as Germany's Industry 4.0 and France's industrial plan are likely to drive demand for IIoT solutions, which may, in turn, enhance demand for ICS security solutions and services in the future. A serious cyber catastrophe may result in significant financial losses, brand damage, consumer trust loss, intellectual property theft, safety concerns, and even death. As a result, to protect its ecosystem from any financial, operational, or human losses, ICS may need security mechanisms to audit and assure compliance.
- Due to the high rate of adoption of connected devices and sensors and the enabling of M2M communication, there has been a surge in the data points generated in the manufacturing industry. According to Zebra's latest manufacturing vision report, IoT and RFID-based smart asset tracking solutions are expected to overtake traditional, spreadsheet-based methods by 2022.
- The pandemic's impact has forced organizations to adhere to strict requirements while ensuring their employees' and customers' safety. As a result, the need for automated solutions witnessed a sudden spike. This could be observed as a notable trend in the foreseeable future. As the world continues to fight the spread of the COVID-19 pandemic, factory automation with robotics plays a crucial role in helping safeguard people and processing the supplies needed by the end user.
Industrial Control Systems Market Trends
Food and Beverage Sector to Widely Use Industrial Control Systems
- The demand for the food and beverage industry is growing yearly because of the economy's growth and disposable incomes. The increasing population is also contributing to this industry.
- Moreover, the demand for processed goods is increasing, with increased buying power and changing lifestyles. This has made it necessary for food manufacturers to implement automation to improve the processing rate to meet consumers' demands. Furthermore, the rapid development of computer technology, dynamic changes in consumers' preferences, and regulatory bodies have boosted the need for food quality and safety. This has resulted in the growing adoption of automated systems in the food industry.
- In June 2022, PepsiCo India announced an additional INR 1.86 crore investment in expanding its food manufacturing plant in Kosi Kalan, Mathura, Uttar Pradesh, to produce the Doritos cornflakes brand. PepsiCo's total investment in its largest Greenfield Foods manufacturing plant, which manufactures Lay's potato chips, will reach INR 1,022 crore.
- Moreover, the Pet food manufacturer plans to invest USD145 million in a 200,000 expansion and equipment upgrades at their FORT SMITH, AR processing facility. The project has recently received approval. The project is expected to be completed in 2022, further driving the market growth.
- Successful integration of different automation stages in the food and beverage industry leads to value-creation in the supply chain, which ensures a long-term competitive edge and efficient production. Hence, food companies are finding ways to improve reliability, increase productivity, reduce waste, and decrease total costs through process automation. This automation requirement also makes controls significant to a company's production.
- In addition, the adoption of process automation has also reduced the number of workers required per plant while providing flexibility in product pricing for industrial operators. Such a rising need for controlling significant expenses is likely to further proliferate the growth of the industrial process automation market during the forecast period.
North America to Dominate the Market
- North America is on the verge of the fourth industrial revolution. The data generated is being used on a large scale for production while integrating the data with various manufacturing systems throughout the supply chain.
- The region is also one of the largest automotive markets in the world and is home to over 13 major auto manufacturers. Automotive manufacturing has been one of the largest revenue generators, in the region, in the manufacturing sector. As the automotive industry accounts for the significant adoption of industrial control systems and automation technologies, the region offers a huge opportunity for market growth.
- Multiple major key vendors operating in the country are launching new updates to help in the growth of smart factories with developments in industrial control systems. Such technological advancement is indicative of the growth of the region in the studied market.
- Moreover, supporting government policies and competitively priced natural gases are enabling the US and Canadian chemical companies to build plants, expand, automate, and control their facilities. Hence, the growth of industrial controls in the North American region is also expected to further drive the market studied over the forecast period.
- General Motors signed three sourcing agreements for EV battery materials in August 2022, potentially aiding the automaker in achieving its objective of manufacturing one million EVs annually. The multi-year contracts with LG Chem, POSCO Chemical, and Liventwill supply GM with critical materials such as lithium, nickel, cobalt, and active cathode material (CAM). Such expansion in the automotive sector in the country may further create significant demand for PLCs.
- The country is one of the largest crude oil producers and a prominent oil and gas industry player. For instance, according to EIA, by 2030, the production is expected to reach 30.01 quadrillions Btu in the region. Texas produces the major share of crude oil in the country and is expected to generate significant demand for production equipment.
Industrial Control Systems Industry Overview
The industrial control system market is fragmented. The players are focusing on R&D activities to attain a competitive advantage. These key players compete based on innovation, pricing, and service. Expansion in the emerging market helps the established key players to extend their sales networks. GE Digital, Siemens AG, Schneider Electric AG, SAP, ABB Group, Fanuc, Honeywell International Inc., Bosch, and Cisco Systems are some companies that provide the industrial internet platform.
- Sep 2022 - The OpreXMagnetic Flowmeter CA Series has been released and reported by Yokogawa Electric Corporation. The OpreXField Instruments family is releasing this new product series to replace the ADMAG CA Series. This new line of products includes capacitance-type magnetic flowmeters, which can measure the flow of conductive fluids via a measurement tube without the fluids touching the device's electrodes. The product's main target markets will be chemicals, paper and pulp, mining, food and beverage, water, and sewerage.
- Aug 2022 - OMRON has unveiled i-Data-Managed Solution Service Implementation (i-DMP). This data-centric solution will enable the clients to solve their issues in a timely manner by simplifying the integration of various types of data, which was never intended for the purpose of improving factory floors. The i-DMP will gather and store data, as needed, dispersed throughout the manufacturing floor, such as those from existing systems and PLCs, in the edge region in real time for uniform data management. It is connected to various networks, relational databases (RDB), and factory automation (FA) devices.
Industrial Control Systems Market Leaders
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Siemens AG
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ABB Automation Company
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Omron Corporation
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Honeywell International Inc.
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Rockwell Automation Inc.
*Disclaimer: Major Players sorted in no particular order
Industrial Control Systems Market News
- September 2022 - Hitachi, Ltd. announced the acquisition of Flexware Innovation, Inc., a manufacturing Systems Integrator (SI). Following the acquisition, Hitachi will strengthen and enhance its business in the domain of MES, SCADA, Business Intelligence (BI), Software Development, and ERP implementation capabilities in North America and accelerate the digitalization with JR Automation which engages in the robotic SI & automation.
- April 2022 - ABB and Ramboll have signed a memorandum of understanding to work together to pursue new offshore substation prospects in the global offshore wind market. Companies will contribute their expertise in the design and supply of electrical, automation, SCADA, and telecommunications equipment, including engineering, products, installation, and operational maintenance, to this partnership.
Industrial Control Systems Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porters Five Forces Analysis
4.2.1 Bargaining Power of Suppliers
4.2.2 Bargaining Power of Buyers
4.2.3 Threat of New Entrants
4.2.4 Threat of Substitutes
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 An Assessment of the Impact of Key Macroeconomic Trends
5. MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Advancements in Industrial Safety Technology
5.1.2 Demand for Mass Production in Manufacturing Sector
5.2 Market Challenges
5.2.1 Lack of Skilled Workforce
6. MARKET SEGMENTATION
6.1 By Operational Technology
6.1.1 Supervisory Control and Data Acquisition (SCADA)
6.1.2 Distributed Control System (DCS)
6.1.3 Programmable Logic Controller (PLC)
6.1.4 Intelligent Electronic Devices (IED)
6.1.5 Human Machine Interface (HMI)
6.1.6 Other Systems
6.2 By Software
6.2.1 Asset Performance Management (APM)
6.2.2 Product Lifecycle Management (PLM)
6.2.3 Manufacturing Execution System (MES)
6.2.4 Enterprise Resource Planning (ERP)
6.3 By End-user Industry
6.3.1 Oil & Gas
6.3.2 Chemical and Petrochemical
6.3.3 Power & Utilities
6.3.4 Food & Beverages
6.3.5 Automotive & Transportation
6.3.6 Life Sciences
6.3.7 Water & Wastewater
6.3.8 Metal & Mining
6.3.9 Pulp & Paper
6.3.10 Electronics/Semiconductor
6.3.11 Other End-user Industries
6.4 By Geography
6.4.1 North America
6.4.1.1 United States
6.4.1.2 Canada
6.4.2 Europe
6.4.2.1 Germany
6.4.2.2 United Kingdom
6.4.2.3 France
6.4.2.4 Rest of Europe
6.4.3 Asia Pacific
6.4.3.1 China
6.4.3.2 India
6.4.3.3 Japan
6.4.3.4 Rest of Asia Pacific
6.4.4 Latin America
6.4.4.1 Brazil
6.4.4.2 Argentina
6.4.4.3 Mexico
6.4.4.4 Rest of Latin America
6.4.5 Middle East and Africa
6.4.5.1 United Arab Emirates
6.4.5.2 Saudi Arabia
6.4.5.3 South Africa
6.4.5.4 Rest of Middle East and Africa
7. COMPETITIVE LANDSCAPE
7.1 Company Profiles
7.1.1 Siemens AG
7.1.2 ABB Automation Company
7.1.3 Omron Corporation
7.1.4 Honeywell International Inc.
7.1.5 Rockwell Automation Inc.
7.1.6 Schneider Electric SE
7.1.7 Emerson Electric Co.
7.1.8 Yokogawa Electric Corporation
7.1.9 GLC Controls Inc.
7.1.10 Mitsubishi Electric Corporation
- *List Not Exhaustive
8. INVESTMENT ANALYSIS
9. FUTURE OF THE MARKET
Industrial Control Systems Industry Segmentation
Industrial control systems comprise various automation equipment, machines, and components. These systems are developed to monitor, control, perform multiple industrial tasks and automate processes with high precision, improving product quality and reliability. Organizations are adopting industrial control systems from various industries due to the increasing focus on attaining energy efficiency in manufacturing processes.
The ICS market is segmented by operational technology (Supervisory Control and Data Acquisition (SCADA), Distributed Control System (DCS), Programmable Logic Controller (PLC), Intelligent Electronic Devices (IED), Human Machine Interface (HMI), and other systems), by software (Asset Performance Management (APM), Product Lifecycle Management (PLM), Manufacturing Execution System (MES), Enterprise Resource Planning (ERP)), by end-user industry (oil and gas, chemical and petrochemical, power and utilities, food and beverages, automotive and transportation, life sciences, water and wastewater, metal and mining, pulp and paper, electronics/semiconductor, other end-user industries), and by North America (United States, Canada), Europe (Germany, United Kingdom, France, and the rest of Europe), Asia Pacific (China, India, Japan, and the rest of Asia Pacific), Latin America (Brazil, Argentina, Mexico, and the rest of Latin America), Middle East and Africa (United Arab Emirates, Saudi Arabia, South Africa, and the rest of Middle East and Africa). The market sizes and forecasts are provided in terms of value (USD) for all the above segments.
| By Operational Technology | |
| Supervisory Control and Data Acquisition (SCADA) | |
| Distributed Control System (DCS) | |
| Programmable Logic Controller (PLC) | |
| Intelligent Electronic Devices (IED) | |
| Human Machine Interface (HMI) | |
| Other Systems |
| By Software | |
| Asset Performance Management (APM) | |
| Product Lifecycle Management (PLM) | |
| Manufacturing Execution System (MES) | |
| Enterprise Resource Planning (ERP) |
| By End-user Industry | |
| Oil & Gas | |
| Chemical and Petrochemical | |
| Power & Utilities | |
| Food & Beverages | |
| Automotive & Transportation | |
| Life Sciences | |
| Water & Wastewater | |
| Metal & Mining | |
| Pulp & Paper | |
| Electronics/Semiconductor | |
| Other End-user Industries |
| By Geography | ||||||
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Industrial Control Systems Market Research Faqs
How big is the Industrial Control Systems Market?
The Industrial Control Systems Market size is expected to reach USD 185.28 billion in 2024 and grow at a CAGR of 8.90% to reach USD 283.77 billion by 2029.
What is the current Industrial Control Systems Market size?
In 2024, the Industrial Control Systems Market size is expected to reach USD 185.28 billion.
Who are the key players in Industrial Control Systems Market?
Siemens AG, ABB Automation Company, Omron Corporation, Honeywell International Inc. and Rockwell Automation Inc. are the major companies operating in the Industrial Control Systems Market.
Which is the fastest growing region in Industrial Control Systems Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Industrial Control Systems Market?
In 2024, the North America accounts for the largest market share in Industrial Control Systems Market.
What years does this Industrial Control Systems Market cover, and what was the market size in 2023?
In 2023, the Industrial Control Systems Market size was estimated at USD 168.79 billion. The report covers the Industrial Control Systems Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Industrial Control Systems Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Industrial Control Systems Industry Report
Statistics for the 2024 Industrial Control Systems market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Industrial Control Systems analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
