ICS for Process Automation Market Size

Industrial Control for Process Automation Market Analysis

The industrial control for process automation market is expected to grow at a CAGR of 8.5% over the forecast period 2021 - 2026. The Internet of Things (IIoT) and Industrial 4.0 are dominating trends in the industrial sector, with machinery and devices being connected via the internet. The number of IoT connected devices rose to 20.35 billion in 2017 from 15.41 billion in 2015 and is expected to reach 51.11 billion by 2023, given the huge push from the investment of the technology providers through continuous research and development. To operate these increasing number of connected devices and machine-to-machine connection in the manufacturing industry, the need for control and supervision is expected to become more prominent; this can be attributed to the increase of network-connected and controlled devices and systems.

• The advent of technology over the past few years has enabled the coupling of mechanical devices with computer-based systems, allowing the latter to operate and control production. This has resulted in the development of automated equipment, capable of generating significantly higher production rates, effortless monitoring, and reduced wastage over traditional machines.
• The major factor driving the growth of the market is increasing the use of enabling technologies in manufacturing, rising adoption of industrial robots in the manufacturing sector driven by collaborative robots, connected enterprise along with mass production to cater to rising population, and government initiatives toward the adoption of industrial automation in various industries.
• The rising cost of labor, coupled with the immense pressure on manufacturers to meet deadlines, has resulted in increased adoption of automation in factories. Additionally, the factors like improved efficiency and reduction in production costs, compared to the conventional manufacturing process, are boosting the adoption of automation, which is acting as a driver for industrial control systems.
• Moreover, the operations of DCS, PLC, SCADA, and MES are complex and require a highly-skilled workforce. Furthermore, initial investment associated with a traverse from an assembly line through automated production line is expected to be high. Along with it, the cost involved in training the employees with the usage of the new sophisticated equipment is also added, which could be unaffordable for certain small- and medium-sized end users. These factors are hindering the market growth