The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2024 and forecasted to 2033

The industrial controls market has witnessed robust growth in recent years, evolving from $146.43 billion in 2023 to an anticipated $153.85 billion in 2024, with a compound annual growth rate (CAGR) of 5.1%. This surge is attributed to factors such as automation, regulatory compliance, and the globalization of production. Looking ahead, the market is poised for steady expansion, projected to reach $181.59 billion in 2028, driven by the integration of IoT and Industry 4.0, energy efficiency, cybersecurity concerns, and the rise of artificial intelligence and machine learning.

Smart City Investments Propel Growth In The Industrial Controls Market

• Smart City Integration Boosts Market: Rapid investments in smart city projects globally drive the demand for industrial controls.
• Role of AI and IoT: Industrial controls support energy, telecommunications, surveillance, and other smart city services through AI and IoT integration.
• Government Initiatives: The Indian government’s ‘Smart City Mission’ involves a substantial investment of $28.31 billion, showcasing the global push towards smart urban solutions.
• Global Smart City Projects: Over 1,000 smart city pilot projects, with 500 in China alone, highlight the widespread adoption of industrial control solutions.

Key Players Shaping the Landscape

• Industry Leaders: Major companies driving the industrial controls market include Mitsubishi Electric Factory Automation, Siemens AG, and Honeywell International Incorporation.
• Comprehensive Offerings: Companies like Schneider Electric SA and ABB Ltd. provide a wide range of industrial control solutions to cater to diverse needs.
• Global Presence: The presence of global players like Emerson Electric Company and Yokogawa Electric Corporation underscores the market’s international significance.

Elevating The Industrial Controls Market With Innovative Solutions

• Focus on Advanced Automation: Major companies introduce advanced solutions like the NX502 automation controller to gain a competitive edge.
• Omron’s NX502 Automation Controller: Launched in April 2023, Omron’s NX502 facilitates large-scale systems with ten EtherNet/IP networks, enhancing efficiency.
• Integrated Control Technology: The NX502 combines integrated control technology with advanced motion and safety control for high production and energy productivity.
• User-Friendly Design: The controller’s user-friendly interface simplifies programming and operation, contributing to streamlined processes.

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Motion Industries Expands Automation Solutions

• Strategic Acquisition: In September 2022, Motion Industries acquired Applied Machine and Motion Control Inc., expanding its product portfolio.
• Comprehensive Automation Solutions: Applied Machine and Motion Control Inc. specializes in motion control and automation products, strengthening Motion Industries’ offerings.

Market Segmentation:

The industrial controls market is segmented based on control systems, components, and end-users.

1. Control System:
   • Distributed Control System (DCS)
   • Supervisory Control & Data Acquisition System (SCADA)
   • Manufacturing Execution System (MES)
2. Component:
   • Modular Terminal Block
   • Relays and Optocouplers
   • Surge Protectors
   • Marking Systems, Printing
   • Ferrules Cable Lugs
   • Handtools, Testers
   • Enclosure Products
   • PCB Connectors and Terminals
   • Heavy Duty Connectors
   • Analog Signal Conditioner
   • Electronics Housings
   • Power Supplies
   • Industrial Ethernet
   • Remote IO
3. End User:
   • Automotive
   • Utility
   • Electronics & Semiconductor
   • Mining
   • Other End Users

Asia-Pacific Leads the Charge

• Regional Dominance: Asia-Pacific emerged as the largest region in the industrial controls market in 2023.
• Reflecting Market Potential: The region’s leadership underscores the growing significance of industrial control solutions in diverse industries.

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 The Industrial Controls Global Market Report 2024  provides an overview of the industrial controls market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The industrial controls market forecast analyzes industrial controls market size, industrial controls market share, leading competitor and their market positions.

The Table Of Content For The Industrial Controls Market Include:
1. Industrial Controls Market Executive Summary
2. Industrial Controls Market Segments
3. Industrial Controls Market Size And Industrial Controls Market Growth Rate
4. Key Industrial Controls Market Trends
5. Major Industrial Controls Market Drivers
……
25. Key Mergers And Acquisitions In The Industrial Controls Market
26. Top Industrial Controls Companies
27. Industrial Controls Market Opportunities And Strategies
28. Industrial Controls Market, Conclusions And Recommendations
29. Appendix

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