Market Trends of NA ICS Industry
This section covers the major market trends shaping the North America Industrial Control Systems Market according to our research experts:
Increasing Smart Grid Installation in United States and Canada is Expected to Drive the Market
- The North American region is 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.
- The North American region has witnessed the accelerated deployment of smart grids meant to improve the reliability and efficiency of utility operations, including the deployment of systems and practices to better engage utility customers in the management of energy.
- The Supervisory Control and Data Acquisition System (SCADA) lies at the core of smart grid decision-making and line sensors, and other connected equipment on a smart grid provides a stream of data back to a central control room, where information is analyzed, and decisions are automatically made, thereby, regulating voltage levels and optimizing efficiency, routing, and generation. Thus, the deployment of Smart Grid is expected to fuel the demand for the studied market in North America.
- The New York State Energy Research and Development Authority (NYSERDA) is an example of a leader in supporting and financing the development and adoption of smart technologies. The New York State government has invested in the innovation of smart energy technologies as the region pursues to improve grid reliability, expand clean energy technologies, reduce carbon emissions and keep energy bills low under its Reforming the Vision program. All these steps are expected to drive the country towards efficient, advanced, and cleaner systems.
- Furthermore, under its smart grid program, the Govt. of Canada is planning to spend USD 100 million over four years. This is expected to drive the growth of the ICS market in this region.
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Increasing Investment in Oil and Gas sector in United States is Expected to Drive the Market
The oil and gas industry is home to a number of government regulations for safety, reliability in plants, and efficiency, owing to which the ICS finds applications in Remote Terminal Units (RTU) and pumping and compression stations for ensuring safety.
- United States is the leading oil-producing country in the world, with its output rising by a massive 1.7 million b/d, during fiscal 2020, according to BP data. The country has various regulations, such as The Mineral Leasing Act, the Outer Continental Shelf Lands Act, the National Environmental Policy Act, etc.
- According to EIA, US production is expected to increase Y-o-Y, owing to the growing production efficiencies and growing resource base. The US crude oil output is expected to increase to 20% by 2030, despite the lower oil prices.
- Various oil and gas vendors, such as Abraxas Petroleum and Chevron, are already driving their network to digitalization projects and adopting IoTs in their network. ICS vendors are increasingly offering industry-specific products; for example, Emerson has launched the DeltaV PK Controller, which helps in making the advanced automation of its DeltaV distributed control system available to fast-growth industries, which are less reliant on large-scale automation.
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