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Industrial Control Systems And Solution Market Research Report: Trends In Size And Share

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By Author: Delvens
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Industrial Control Systems and Solution Market, By Control System (SCADA, DCS, Hybrid), Components (HMI, PLC, RTU, SCADA Communication System), Application (Electrical Power, Oil and Gas, Water and Water-waste treatment, Automobile), and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
Industrial Control Systems and Solution Market Overview
The global Industrial Control Systems and Solution Market size was estimated at USD 18.0 billion in 2023 and is projected to reach USD 28.2 billion in 2030 at a CAGR of 7.7% during the forecast period 2023-2030.
The Industrial Control systems and Solution span a spectrum from compact independent units to a multitude of interconnected large-scale work cells dispersed throughout the factory premises. Each system has been meticulously designed to fulfill a specific objective, leading to a reduction in costs, an enhancement in quality, an enhancement in operator safety, and a boost in production efficiency. Various technologies, such as analytics, cloud computing, and mobility, are aiding organizations in accomplishing their objectives ...
... with utmost efficiency. Moreover, the integration of the Internet of Things (IoT) into factory automation is fueling the growth of intelligent manufacturing, as it allows for the utilization of the benefits of internet connectivity. As an illustration, in May 2022, Emerson Electric Co. introduced their novel automation solution, namely TopWorx DX Partial Stroke Test with HART 7, which enhances safety and automation by facilitating discreet emergency shutdown valves.
The recent years have witnessed an escalating demand for industrial software and process automation solutions owing to the imperative for enhanced efficiency, dependability, and security in industrial processes. This, in turn, has culminated in an expansion of the Industrial Control Systems (ICS) market, which entails the utilization of systems for the regulation and surveillance of industrial processes. The mounting employment of ICS in various sectors such as oil and gas, manufacturing, and power generation has propelled the market's growth.
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The Covid-19 pandemic have compelled organizations to conform to stringent requirements, all the while ensuring the well-being of their employees and customers. Consequently, there has been an abrupt surge in the demand for automated solutions. This discernible development is anticipated to persist in the foreseeable future. Given the ongoing battle against the rapid transmission of the COVID-19 pandemic, the implementation of factory automation through robotics assumes a pivotal role in safeguarding individuals and facilitating the provisioning of essential resources to end users.
Delvens Industry Expert's Standpoint
Disruptions in crucial infrastructures, such as the power grid, manufacturing, information technology, and transportation, have a profound impact on economic stability, national security, safety, and health. Consequently, numerous governments have implemented federal legislation and policies aimed at formulating cybersecurity guidelines to safeguard industrial control systems for crucial infrastructures. On November 16, 2018, President Donald Trump of the United States authorized the appointment of the Cyber Security and Infrastructure Security Agency (CISA) with the objective of identifying vulnerabilities in the nation's crucial infrastructures. Public Safety Canada, an organization dedicated to cybersecurity, collaborated with stakeholders responsible for crucial infrastructures to enhance the security and resilience of vital assets, including the food supply, energy and utilities, public safety systems, and information and communication technology. Similarly, the Critical Infrastructure Act of Australia in 2018 maintains a registry of critical infrastructure assets to manage risks associated with Australia's crucial infrastructures, in cooperation with the government, regulatory bodies, and operators of such infrastructures.
Key Findings
• On the basis of system, the market segmentation of the Industrial Control Systems, which is founded upon control systems, encompasses SCADA, DCS, and Hybrid. The SCADA segment, in terms of Industrial Control Systems market revenue, exhibited a significant majority share in 2021. The said segment of SCADA, attributed to its extensive implementation in diverse industrial applications such as the supervision and regulation of remote assets, real-time data accumulation and examination, and optimization of processes, held the largest market share. Nevertheless, it is anticipated that the segments of DCS and Hybrid systems will experience growth in the forthcoming years as more industries adopt these systems due to their advanced functionalities and heightened operational efficacy.
• On the basis of application, the segmentation of the Industrial Control Systems market is conducted based on various applications, which encompass Electrical Power, Oil and Gas, Water and Water-waste treatment, and Automobile. Dominating the market share in 2021, the oil and gas segment has experienced significant growth owing to the escalating demand for automation and control solutions in the exploration, production, and transportation of oil and gas. Simultaneously, the Electrical Power segment is witnessing substantial expansion due to the imperative requirement for enhanced monitoring and control of the power generation and distribution process. Furthermore, the Water and Wastewater treatment segment is anticipated to exhibit growth in response to the heightened emphasis on environmental sustainability and the need for efficient water management. Additionally, the Automotive segment is also expected to thrive as the industry progressively shifts towards electrification and autonomous vehicles.
• On the basis of component, the market segmentation of the Industrial Control Systems encompasses various components, namely Human-Machine Interface (HMI), Programmable Logic Controller (PLC), Remote Terminal Unit (RTU), and Supervisory Control and Data Acquisition (SCADA) Communication Systems. In the year 2021, the SCADA communication system segment emerged as the dominant force in the market due to the indispensable role of communication in industrial control systems. The escalating need for real-time data collection and analysis has significantly propelled the demand for SCADA communication systems. Simultaneously, the HMI segment is experiencing growth as numerous industries embrace user-friendly interfaces to enhance the monitoring and control of processes.
• The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America has emerged as a leading proponent in the implementation of ICS security measures as a response to the escalating frequency of cyber assaults on essential infrastructure. Consequently, ICS security solutions are extensively employed across diverse sectors, notably manufacturing, chemicals, energy, and utilities.
Industrial Control Systems and Solution Market Regional Analysis
North America to Dominate the Market
• This geographical area has additionally exhibited a substantial level of receptiveness towards the most recent technological progressions. These advancements include the amalgamation of cloud computing and Internet of Things (IoT) with Industrial Control Systems (ICS) security solutions.
• The objective is to create an all-encompassing secure access mechanism and implement a comprehensive security governance framework.
Industrial Control Systems and Solution Market Competitive Landscape
• Cisco
• Lockheed Martin
• Fortinet
• Honeywell
• Palo Alto Networks
• BAE Systems
• Raytheon
• Trellix
• General Electric
• Yokogawa Electric
• Rockwell Automation
• Darktrace
• Check Point
• Kaspersky Labs
• Airbus
• Belden
• Sophos
• CyberArk
• Claroty
• Dragos
• Nozomi Network
• Cyberbit
• Forescout
• Radiflow
• Verve Industrial Protection
• Applied Security
• Positive Technology
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Industrial Control Systems and Solution Market Recent Developments
• In September 2022, Cisco partnered with Radiflow for its IOT security expertise Radiflow would provide IDS in Cisco-run OT facilities.
• In April 2022, to increase the US government’s focus on the cybersecurity and resilience of industrial control systems and operational technology (ICS/OT), the Cybersecurity and Infrastructure Security Agency (CISA) expanded the Joint Cyber Defense Collaborative (JCDC) to include Industrial Control Systems (ICS) experts. For this, CISA partnered with Honeywell.
Reasons to Acquire in the Industrial Control Systems and Solution Market
• Increase your understanding of the market for identifying the most suitable strategies and decisions based on sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends, and factors.
• Gain authentic and granular data access for the Industrial Control Systems and Solution Market to understand the trends and the factors involved in changing market situations.
• Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future.
• In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns.
Direct Purchase of Industrial Control Systems and Solution Market Report Research Report: https://www.delvens.com/checkout/industrial-control-systems-and-solution-market
Frequently Asked Questions
What are the years considered to study Industrial Control Systems and Solution Market?
What is the compound annual growth rate (CAGR) of the Industrial Control Systems and Solution Market?
Which region holds the largest market share in Industrial Control Systems and Solution Market?
Which region is the fastest growing in Industrial Control Systems and Solution Market?
Who are the major players in Industrial Control Systems and Solution Market?
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