Market Trends of Industrial Control Systems Industry
This section covers the major market trends shaping the Industrial Control Systems Market according to our research experts:
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.
- 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 then reach Rs 1,022 crore.
- Moreover, the Pet food manufacturer plans to invest USD145 million in a 200,000 of 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 cost through process automation. With this automation requirement, controls are also becoming significant to a company's production.
- According to the report, US Foods generated approximately 29.49 billion US dollars in net sales in 2021. This represents a seven-billion-dollar increase over previous years. US Foods is a leading food service distributor in the United States.
- 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.
Understand The Key Trends Shaping This Market
Download Sample
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.
- Furthermore, in October 2021, Toyota announced to invest USD 3.4 billion in US automotive battery development and production through 2030. It intends to establish a new company and construct a new US automotive battery plant in collaboration with Toyota Tsusho, the automaker's metals trading arm, and a Toyota Group unit.
- 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.
- For instance, in March 2021, GE Digital, headquartered in the United States, launched CIMPLICITY and Tracker software which are multi-industry HMI/SCADA and MES routing solutions that help in the optimization of efficiency in operations. Tracker is dedicated to the usage amongst high-volume manufacturers, including automotive companies. CIMPLICITY is aimed at companies with remote operations centres at multiple locations.
- 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 the industrial controls in the North American region is also expected to further drive the market studied over the forecast period.
Get Analysis on Important Geographic Markets
Download Sample
