Machine Automation Controller Market Major Player Revenue and Forecast 2024


Posted May 9, 2022 by avinashgogawale14

The Overall Machine Automation Controller Market is expected to grow from USD 33.7 billion in 2019 to USD 41.5 billion by 2024, at a CAGR of 4.3%.
 
The Machine Automation Controller Market is estimated to be USD 33.7 billion by 2019 and is expected to reach USD 41.5 billion by 2024, at a CAGR of 4.3%. Machine Automation Controllers comprise a collection of automation control devices including programmable logic controllers (PLC), distributed control system (DCS), and industrial PC. These controllers are highly rugged computing devices designed to withstand the demanding and harsh environment of the industrial ecosystem. The machine automation controllers are mainly used to automate specific processes such as batch processing or flow control. They are also used to control a machine function or an entire production line. Major components of a Machine Automation Controller include a central processing unit (CPU), power supply module, and input/output (I/O) module. Rising focus on reducing overall operational cost, increasing the need to drive productivity in the process industry, and the growing use of robots in the manufacturing sector are the major factors driving the growth of the market.

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The market for DCS is expected to grow at a higher CAGR during the forecast period. A distributed control system (DCS) is a specially designed platform for automation control and operation of a plant. DCS is connected to a large number of local controllers that are distributed geographically over a plant or control area through a high-speed communication network. It is well suited for large-scale manufacturing plants, where large numbers of continuous control loops are to be monitored and controlled. DCS handles the entire control structure of a plant as a single automation system.

The market for IP20-rated controller is expected to grow at a higher CAGR from 2019 to 2024. Majority of the Machine Automation Controllers in the form of PLCs used in automation systems are IP20 rated. With IP20 rating, the automation controllers are capable of protecting electronic circuits from objects larger than 12 mm in size. However, IP20-rated controllers do not offer any protection from liquids.

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The oil & gas industry is expected to register the highest CAGR in the Machine Automation Controller Market during the forecast period. Oil & gas is one of the most capital intensive sectors requiring a tremendous amount of investment in the form of exploration, drilling, refining, and transportation. With the global population set to reach 10 billion by 2050, a significant rise in the demand for safe and affordable energy is expected. Moreover, fluctuating oil prices in the global market and shortage of skilled labor are among the factors owing to which oil & gas companies are striving to automate their manufacturing processes to improve productivity at reduced operational cost. Modernizing and replacing old internal processes with advanced automated systems will help oil & gas companies reorganize their operations and achieve higher productivity. The rising trend of modernization in the oil & gas industry is expected to boost the Machine Automation Controller Market.

APAC is expected to be the fastest-growing market for Machine Automation Controller during 2019–2024. APAC constitutes a few large and fast-growing economies—such as China and India. Enormous domestic demand for products & services, and significant business growth opportunities have led to the establishment of manufacturing units of various industries, such as automotive, chemicals, food & beverages, and semiconductor & electronics, in the region. However, growing labor rate, rapidly evolving manufacturing processes, and increasing operational cost have made companies operating in the geography to embrace automation technologies to tackle the challenges efficiently.

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Last Updated May 9, 2022