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Global Industrial Controls Market Expected to Reach $163,345.7 Million by 2024PORTLAND, Oregon and PUNE, India, June 29, 2018 /PRNewswire/ -- According to a new report published by Allied Market Research, titled, "Industrial Controls Market by Control System, Component, and End User: Global Opportunity Analysis and Industry Forecast, 2017-2024", the industrial controls market is accounted for $117,370.3 million in 2017, and is expected to reach $163,345.7 million by 2024, growing at a CAGR of 5.1% from 2018 to 2024. In 2017, North America dominated the global market, in terms of revenue, accounting for about 51.3% share of the global market, followed by Europe. (Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg ) The industrial control systems are interconnected equipment, used to monitor and control physical equipment in different industries. The rise in demand for IoT-based smart solutions and mass production in manufacturing industries to cater to the growing population, along with automation in various industries, boost the demand for the industrial controls. However, increase in cyberattack threats, unavailability of authentication procedure to secure ICS, and lack of skilled professionals hinder the growth of the industrial controls market. Request Sample Report at: https://www.alliedmarketresearch.com/request-sample/459 The distributed control systems (DCS) segment secured the highest share of about 44.0% in the industrial controls market in 2017 and is expected to grow at a CAGR of 4.6% during the forecast period. In terms of end users, utility sector is expected to contribute the highest market share in the coming years, as industrial controls are used to control and monitor physical processes in the oil & gas industry, by acquiring data from processes, such as valve positions, temperatures, pressures, tank levels, and human operators, and control hydraulic, electric, mechanical, or pneumatic actuator. Sensors are the important component of industrial control system as they are responsible for detecting te key changes that occur on production facilities. Moreover, sensors can be remotely controlled and limits the power & failure constraints. Factors such as high increase in interest in automation across different industry verticals as well as technological advancement, availability of cheap labor and low manufacturing cost has drive the sensor market in developing economies. The electronics & semiconductors industry accounted for around 23.8% share in the industrial controls market. North America is anticipated to dominate the industrial controls market during the forecast period, owing to the presence of key network security companies, as the cyberattack is the major threat to industrial control systems. Moreover, Europe and Asia-Pacific are expected to witness moderate growth in the industrial controls market during the forecast period. For Purchase Enquiry: https://www.alliedmarketresearch.com/purchase-enquiry/459 Key Findings of the Industrial Controls Market:
The major players, such as ABB Ltd., Mitsubishi Electric Factory Automation, Siemens, Honeywell International Incorporation, Emerson Electric Corporation, Schneider Electric SA, Omron Corporation, Rockwell Automation, Inc., Kawasaki, and Yokogawa Electric Corporation, have adopted various developmental strategies to expand their market foothold. Access KNOWLEDGE TREE (Premium on-demand, subscription-based pricing model) at: https://www.alliedmarketresearch.com/knowledgetree Knowledge tree is a cloud-based intelligence platform that offers more than 2,000 selective, off-the-shelf reports on niche markets to enable our clients gain deep insights on the latest trends, dynamic technologies, and emerging application areas. Similar Reports: Factory Automation Market - Global Opportunity Analysis and Industry Forecast, 2017-2025 Industrial Robotics Market - Global Opportunity Analysis and Industry Forecast, 2017-2023 About Us Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry. Contact: Web: https://www.alliedmarketresearch.com 
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