Latest News- Industrial Control Systems Market in Europe: Process industries is expected to lead the End-user segment during 2024-2028
The Industrial Control Systems Market in Europe is being driven by Need for simplification of complex manufacturing activities
The Industrial Control Systems Market in Europe is expected to grow at a CAGR of 2.8% during 2023 and 2028. During this period, the market is also expected to show a growth of USD 4.1 million. In Europe's industrial control systems market, the automation software segment experienced robust growth in 2023, surpassing the expansion of the automation hardware segment. The shift towards software-driven solutions, decreasing reliance on hardware, and the widespread adoption of software applications have fueled this trend. System integrators, acting as crucial intermediaries between original equipment manufacturers (OEMs) and end-users, significantly influence the sale of industrial automation controls within the discrete and process industries. To expand their market presence, automation software and control system OEMs are actively pursuing mergers and collaborations with system integrators. By doing so, they can broaden their reach and increase their market shares, as system integrators possess extensive geographical coverage and a strong network within the industry.
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Which Factors Are Causing a Surge in Market Growth?
The market is segmented based on End-user (Process industries, Discrete industries) Geography (Europe).
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
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Key Features in Industrial Control Systems Market in Europe Research Report
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The European Industrial Control Systems market encompasses various sectors including Power Generation, Water and Wastewater Treatment, and Renewable Energy. Key technologies driving growth are Operational Technology, Distributed Control Systems, Programmable Logic Controllers, Human-Machine Interfaces, and Remote Terminal Units. Hybrid systems, Electrical Power, and Advanced Automation Technologies like Artificial Intelligence, Internet of Things, Digital Transformation, Real-time Monitoring, Workflow Management, Machine Learning, Cloud Computing, and After-sales Support are also integral. Connected Devices and Smart Technology play a crucial role in enhancing efficiency and productivity.
The European Industrial Control Systems Market encompasses Operational Technology, including Distributed Control Systems (DCS), Programmable Logic Controllers (PLC), and IIoT Solutions. This market segment falls under the broader umbrella of the European Operational Technology and Industrial Automation sector, which is a subcategory of the European electrical components and equipment market. This market size is determined by the combined revenue generated from the manufacturing and sales of electrical components and equipment within the Chemical and Petrochemical, Life Sciences, Semiconductor, and Industrial Automation industries. Technavio's analysis includes companies specializing in water heaters and accessories, motors, motor control, encoder and amplifier, automation solutions, electrical distribution and protection equipment, small generators, wire and cable accessories, power supplies and conditioners, sensors, meters and indicators, recorders and loggers, process safety systems, instrumentation, test and measurement equipment, switches, transmitters and receivers, HVAC, and safety components. Additionally, rental and leasing of electrical components and equipment to industrial, commercial, and residential end-users is taken into account in the market sizing calculations.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
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