The need for standardization and uniformity in terminal products in process industries is primarily driving the industrial control for process manufacturing market. Some of the standard systems used for measuring, monitoring, and regulating industrial production activities are SCADA, MES, PLC, and DCS. In industrial units, the need for efficient utilization of resources to derive their maximum value, thereby reducing raw material wastage, in an important factor driving the deployment of these systems. Additionally, increasing safety and security norms pertaining to machinery, which are related with human safety and economic loss, and the need to optimize machine operation time is boosting the growth prospects of this market.
With automated processes becoming a standard feature in many industries such as oil and gas, food and beverages, and power, among others, the industrial control for process manufacturing market is benefitted. In modern industrial units, flexibility in manufacturing techniques and customization of procedures has also necessitated the deployment of industrial control systems for quality control.
Adoption of Efficient Manufacturing Processes Propels Global Market
A large number of industries such as oil and gas, chemical, pharmaceutical, power and healthcare, and food and beverages seek efficient methods while manufacturing a wide range of products. To reduce the wastage during these processes and ensure uniformity in the final output process, control systems are used. Thus, the growing demand for consistent products has been driving the overall industrial control for process manufacturing market. The market is also being propelled by increasing demand for efficiency, safety, and minimal variability.
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Standardization of processes in various industries has also been responsible for the growing demand for industrial control for process manufacturing solutions. Furthermore, the ability of these solutions to regulate variables to meet the requirements of the desired end result is also boosting their demand. The growing safety and security concerns in manufacturing units and process industries is also expected to fuel the industrial control for process manufacturing market.
Maturing Industries Offer Lower Scope for Growth
The maturing industries, especially in the developed regions, are hampering the growth of the global market. Furthermore, saturated markets within North America and Europe are also offering a negligible scope for growth to the overall market. However, the growing investments in the developing regions to build industries and increase their manufacturing output are anticipated to create new opportunities for the market.
Distributed Control Systems take Lead in Global Market
The distributed control systems (DCS) segment is anticipated to display a strong growth rate in the coming years as it reaches a valuation of US$31.32 bn 2021 in the coming years. This segment is anticipated to rise at a CAGR of 4.7% between 2015 and 2021. The growth of the DCS segment will mainly stem from the fact that they are capable of monitoring larger areas through a central control room. Thus, several oil and gas companies are adopting these systems to monitor and manage their sites across the globe.
The Americas are the predominant users of industrial control for process manufacturing systems and technologies. The evolution of sophisticated manufacturing processes has led to a greater adoption of these systems. The flourishing oil and gas sector of the Americas is making an extensive use of the industrial controls for process manufacturing solutions across the region. Owing to these factors the industrial control for process manufacturing market in the Americas will expand at a CAGR 4.8% between 2015 and 2021.
Transparency Market Research’s new market study on the global industrial control for process manufacturing market provides valuable insights into the developments of the said market for the 2015-2021 period. According to the report’s findings, the market will expand at a moderate 5.20% CAGR from 2015 to 2021, for the market’s valuation to increase from US$61.2 bn in 2014 to US$96.2 bn in 2021.
This review is based on Transparency Market Research’s report, titled “Industrial Control For Process Manufacturing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2021.”
Demand for uniformity pushes opportunity in the global industrial control for process manufacturing market to US$96.20 bn by 2021
The Americas lead global market at a 4.8% CAGR during forecast period due to higher adoption rate
DCS segment becomes the preferred technology as it allows monitoring of larger areas