IoT high on agenda for 2016?

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IoTHere’s my last piece for Control Engineering Asia on what should we expect in 2016?

There are certain factors such as the adoption of IoT, advancement in M2M, the increasing demand of robots in the industrial sector, etc., that can result positively on the industrial control and factory automation market.

The global industrial automation services market is likely to exceed $50 billion by 2019. The industrial controls system market is likely to reach $81 billion in 2021!

For industrial controls/valves, the Asia-Pacific market for industrial valves is projected to grow at 6.88 percent CAGR between 2014 and 2019. The industrial control system (ICS) security market is likely to grow at a CAGR of 7.6 percent from 2014 to 2019.

How about PLC/DCS and SCADA? One observer said that the PLC market in Europe is likely to grow at a CAGR of 7.44 percent from 2014-2019. The Asia-Pacific market for PLCs is likely to hit $3.6 billion in 2016. Also, the APAC DCS (decentralized automated control systems) market is set to grow at 4.36 percent CAGR over 2014-2019.

The Southeast Asia supervisory control and data acquisition (SCADA) market is likely to double in five years from $148.7 million in 2012 to reach an estimated $274.8 million in 2018. For PLM, the market is likely to reach $75.87 billion by 2022. The CAD market in aerospace and defense sector in North America is set to grow at a CAGR of 4.2 percent over 2014-2019.

IoT to dominate?
Nearly everyone’s favorite subject happens to be the IoT. The industrial IoT market is likely to grow at 26.56 percent CAGR to 2019. The M2M connections market will likely be worth $35.16 billion by 2020. Even the IoT in retail market is said to be worth $35.64 billion by 2020.

The installed base of wireless M2M devices in the oil & gas industry alone is set to grow at CAGR of 20.1 percent from 0.5 million units at end of 2014 to 1.25 million units by 2019.

How about sensors? Asia Pacific is set to reach $5.23 billion by 2020 at CAGR of 4.09 percent. In water/wastewater, the water recycle market and water re-use market growth are expected to be at 22 percent and 19 percent CAGR to 2019.

Hope some or all of these targets are met in 2016.

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One thought on “IoT high on agenda for 2016?

    Len said:
    July 26, 2016 at 1:20 pm

    Congrats on this new endeavor, Mr. P!!!

    Like

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