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The global electronics control management market size was USD 42.2 Billion in 2022 and is projected to reach USD 78.9 Billion by 2032, and CAGR of 6.5%

NEW YORK, NY, UNITED STATES , May 9, 2023 /EINPresswire.com/ -- The size of the global Electronics Control Management Market was USD 42.2 billion in 2022 and is predicted to reach USD 78.9 billion by 2032, with a rapid revenue CAGR of 6.5% during the forecast period. One of the primary drivers of this growth is the increasing demand for effective and automated control systems in various industries such as automotive, aerospace, and industrial sectors.

Cutting-edge technologies such as Artificial Intelligence (AI) and the Internet of Things (IoT) are being utilized to create intelligent, interconnected control systems that can automate and improve processes across various sectors. For example, the automobile industry is using IoT-based sensors and control systems to enable remote monitoring and control of various vehicle components, leading to increased productivity and reduced downtime.

The need for electronics control management systems is also growing due to the necessity for efficient and dependable control systems to ensure the safety and security of critical infrastructure. The rising number of cyberattacks and security breaches in various industries has led to an increased need for reliable and secure control systems that can identify and prevent such assaults.

In addition, the increasing focus on reducing energy consumption and greenhouse gas emissions is expected to drive market revenue growth. Adoption of energy-efficient control systems in various industries, such as manufacturing and building automation, has led to significant savings in energy consumption and operating costs.

The trend of automation and digitization in different industries is another factor contributing to market revenue growth. Automated control systems in industrial operations have led to increased productivity, decreased downtime, and improved product quality. Similarly, digital control systems in the healthcare sector have led to better patient outcomes and reduced healthcare expenses.

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Segments Covered in the Report

The electronics control management market can be categorized based on product type and end-use outlook.

In terms of product type, the market includes embedded systems, distributed control systems, human-machine interface (HMI), supervisory control and data acquisition, and others.

In terms of end-use outlook, the market covers various industries such as industrial, automotive, aerospace and defense, healthcare, and others.

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Strategic development:

Schneider Electric announced in 2021 that it had acquired a 60% stake in Planon Beheer B.V., a company based in the Netherlands that provides software solutions for real estate and facilities management. The acquisition was intended to expand Schneider Electric's capabilities in the field of building management systems.

In the same year, Honeywell launched its next-generation building automation platform, Honeywell Forge. This platform is designed to give customers real-time insights into their building's performance, allowing them to optimize energy usage and enhance occupant comfort.

Siemens also made an acquisition in 2020, when it purchased C&S Electric Ltd., an Indian manufacturer of electrical equipment, for $2 billion. The acquisition aimed to strengthen Siemens' position in the Indian market and broaden its product portfolio in the field of power distribution and electrification.

ABB launched its own smart building platform, ABB Ability™, in 2020. This platform provides building operators with real-time insights into their building's performance, enabling them to optimize energy usage and enhance occupant comfort.

Finally, in 2020, Emerson Electric announced the acquisition of Open Systems International, Inc., a company that provides software solutions for the electric power industry. This acquisition was aimed at expanding Emerson Electric's capabilities in the field of grid optimization and allowing it to offer a more comprehensive range of solutions to its customers.

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Competitive Landscape:

The electronics control management market is a highly competitive industry, with a few large and medium-sized players accounting for the majority of the market revenue. Major players in the industry are implementing various strategies such as mergers and acquisitions, strategic agreements and contracts, as well as developing and introducing more effective products.

Some of the significant companies included in the global electronics control management market report are Schneider Electric SE, Honeywell International Inc., Siemens AG, ABB Ltd., Emerson Electric Co., Johnson Controls International plc, Rockwell Automation, Inc., Mitsubishi Electric Corporation, General Electric Company, Johnson Electric Holdings Limited, and Bosch Rexroth AG.

These companies are constantly striving to gain a competitive advantage by investing in research and development to produce innovative products that meet the needs of their customers. Additionally, they are expanding their market presence through partnerships, collaborations, and acquisitions to increase their customer base and geographic reach.

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