According to a new market report published by Transparency Market Research, titled Industrial Controls System Market – Global Industry Analysis Size Share Growth Trends and Forecast 2015 – 2021, the global Industrial Controls market was valued at $58 billion in 2014 and is expected to reach $81 billion by 2021, growing at a CAGR of 4.9 percent from 2015 to 2021.
Industrial control systems are defined as network of interconnected equipment. These equipment are used to supervise and control physical equipment in industrial environments. As part of industrial control systems, different control systems are used such as distributed control systems (DCS), supervisory control and data acquisition (SCADA) systems and programmable logic controllers (PLC).
These control systems are used for process automation, critical infrastructure automation and remote supervision. SCADA systems are used to acquire data from remote devices such as pumps, transmitters and valves among others. By acquiring data from devices remotely placed and transferring the historian data to master control unit, SCADA system helps operators to control remotely placed devices from a host software platform.
DCS systems are connected through networks and this network connection provides the opportunity to control processes distributed across facilities. PLCs are used to automate electromechanical processes such as controlling machinery, controlling factory assembly lines and light fixtures.
The increase in need for process automation and remote supervision in manufacturing facilities has fuelled the growth of the industrial controls market. Moreover, growing application of software in industrial control devices is set to increase scalability of SCADA, DCS and PLC systems in industrial environments.
For example, integration of PLC software with enterprise resource planning software and manufacturing execution systems is set to increase the efficiency of industrial control process. Furthermore, in developing countries such as China, India and Indonesia, rising investment in industrial infrastructure and process automation projects is set to positively impact industrial controls market during the forecast period.
The rising need for SCADA integration for supervisory control in oil & gas, chemical and food and beverage industry is fuelling the overall growth of the industrial controls market. Considering the positive impact of these factors, the global industrial controls market is expected to grow during the forecast period, i.e. 2015 to 2021.