Industrial Control For Process Manufacturing Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2021
Albany, NY -- (SBWIRE) -- 09/29/2015 -- Industrial control for process manufacturing is mainly utilized for controlling, measuring, and monitoring the various activities and processes in a manufacturing plant. The greatest motive of the global industrial control for process manufacturing market is to create products that help manufacturers achieve uniformity in all their end products. At the same time, manufacturers expect the tools they use to help reduce wastage of raw materials as well as improve the efficiency of the plant as a whole.The global industrial control for process manufacturing market is growing at a CAGR of 5.20% from 2015 to 2021. The market was valued at US$61.23 bn in 2014 and will reach US$96.20 bn in 2021.
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Demand for Automation Increases and Boosts Global Industrial Control from Process Manufacturing Market
The single greatest driver for the global industrial control for process manufacturing market is the need for automation. Manufacturing processes are increasingly in need of automation to support end product uniformity and reduction of manufacturing time in order to create a larger number of goods in a shorter time. This demand is quite high and spans various industries such as power, food and beverages, oil and gas, and chemical. Another important feature of high automation levels in a manufacturing plant is the increase in safety levels by reducing the interaction of workers with moving objects on the manufacturing floor. More and more end users in the global industrial control for process manufacturing market are calling for flexible automation in order to supplement the production of various goods on the same production line.
Asia Pacific has Highest Growth Potential in Global Industrial Control for Process Manufacturing Market
The global industrial control for process manufacturing market for 2015 was led by the Americas in terms of innovation and usage. The area is expected to maintain its dominance till 2021. The region's market is currently growing on the lines of redesigning conventional machines in order to make them perform complex processes in advanced industrial control powered systems. The second largest region in the global industrial control for process manufacturing market is Europe, with a 33% share in it.
At the same time, the fastest growth rate is currently exhibited by Asia Pacific. The region's growing interest and activity in the global industrial control for process manufacturing market is attributed to the increasing expenditure in the sectors of oil and gas and power. The rapid industrialization rates of the region also play an important role in the region's superior growth rate.
DCS Leads the Market, MES Shows Biggest Potential for Growth
The top share in the global industrial control for process manufacturing market for 2015 is worth US$22.26 bn and was accounted for by the distributed control system segment. The segment is expected to maintain its dominance for the time being. Meanwhile, manufacturing execution systems have had the fastest growth rate in the global industrial control for process manufacturing market. The key factor for the segment's growth rate is its ease of installation and implementation of features that allow real-time management.
The key players operating in the global industrial control for process manufacturing market include Siemens AG, Schneider Electric S.E., Honeywell International Inc., Emerson Electric Co., and ABB Ltd.
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