Market Players Focus on Improving Operator Comfort and Integrating New Technologies to Boost Efficiency
Control room solutions are essential to maintain operational efficiency and administer an array of information streams to improve the process of mission-critical decision-making. As the trend of digitalization gradually sets its foot in several industrial domains, management of multiple content sources and applications has become a requisite– a major factor that is expected to drive the growth of the global control room solutions market during the assessment period (2020-2030). At present, players involved in the current control room solutions market landscape are increasingly focusing on offering improved and cost-effective system management solutions to their customers, while simultaneously working toward attaining optimum operator comfort.
Control room solutions are extensively used for several applications, including decision-making, monitoring, controlling, collaborating, and communicating. Government as well as the commercial sector are the primary customers of the participants operating in the control room solutions market. In the current scenario, control room solutions are increasingly being utilized by a host of end users in the commercial sector, including retail, healthcare, food & beverages, hospitality, power plants, manufacturing, and media & entertainment. Advancements in technology are expected to play the role of a catalyst in the modernization of the control room solutions of the future.
At the back of these factors, along with the entry of cutting-edge technologies including the Internet of Things (IoT) and artificial intelligence (AI), the global control room solutions market is expected to attain a market value of US$ 58.2 Bn by the end of 2030.
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Industry 4.0 and Entry of IoT to Boost Demand for Control Room Solutions
Technological advancements are set to play a key role in driving the overall growth of the global control room solutions market. The Internet revolution over the span of the last couple of decades and high demand for digital services across the world have opened up several untapped avenues in the field of data analytics. However, with the entry of novel technologies driven by AI, such as the Internet of Things, the control room solutions market is set to step into a new era of powerful IoT analytics and improved connectivity. Due to the exponential surge in the bandwidth of both mobile as well as fixed connectivity along with growing investments in 4G and 5G technologies, control room solutions, particularly the emergency service network segment is expected to witness considerable growth during the assessment period.
Several companies across various industrial sectors are transforming control rooms into operation hubs and the trend is expected to gain further momentum over the course of the forecast period– a factor that is likely to propel the expansion of the control room solutions market. In addition, as businesses evolve in sync with new technologies, the demand for control room solutions is on the rise. At present, several players operating in the control room solutions market are increasingly focusing on improving information visibility, upgrading the outdated or obsolete technologies, and improving their pricing structure to establish a solid foothold in the current control room solutions market landscape.
Evolving Trends in Control Room Designs to Aid Market Growth
Over the past decade, functionalities of control room solutions have evolved at a rapid pace due to consistent progress in the human-machine interface sphere. In addition, due to consistent advancements in technology coupled with growing awareness pertaining to the aesthetic importance of control rooms to optimize efficiency, several companies around the world are investing resources to optimize and streamline control room designs to attain the required objectives. Advancements in distributed control systems (DCSs) and Human-machine Interface (HMI) are likely to play a key role in augmenting the demand for control room solutions in the upcoming years.
Improved processor ability, advancements in Ethernet, and the Internet are some of the other driving factors that are likely to influence the development of the HMI technology in the upcoming years. Access to data across multiple sources, along with transition from hardware devices to electronic terminals have also played an imperative role in the boosting the growth of the global control room solutions market in the past few years– a trend that is expected to continue over the forthcoming decade.
Control Room Activities Rise amid COVID-19 Pandemic
The ongoing COVID-19 pandemic is expected to have a strong influence on the global control room solutions market, particularly in 2020. As governments across the world enforce stringent lockdown measures to curb the spread of the novel coronavirus, municipalities and government authorities around the world continue to set up makeshift control rooms to improve the management of the current situation. While the demand from the commercial sector is anticipated to witness a steep decline in 2020, the soaring demand from the government sector is estimated to provide opportunities to the players operating in the control room solutions market.
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Control Room Solutions Market: Overview
- The global control room solutions market is expected to expand at a CAGR of ~7% during the forecast period, primarily driven by growing adoption of Industry 4.0 and utilization of VR in control room
- The control room solutions market is expected to be valued at US$ 29.2 Bn in 2020 and reach US$ 58.2 Bn by 2030
- In terms of component, the infrastructure segment is anticipated to account for notable share as compared to the other components of the control room solutions market
- In the infrastructure segment, video walls is set to dominate the market during the forecast period. Additionally, video walls & controllers is likely to remain the fastest growing segment during the forecast period.
- North America remains a prominent market for control room solutions globally, and the market in the region is expected to be valued at US$ 11.4 Bn by the end of 2024
- The control room solutions market report provides analysis of the market for the period 2018 – 2030, wherein 2019 is the base year, 2024 is the estimated year and 2020 to 2030 is the forecast period. Data for 2018 has been included as historical information.
- In this report, we analyze the growth drivers that enhance the value of the control room solutions market and various opportunities prevailing in the market
- Providers of control room solutions are focused on developing innovative solutions to serve specific requirements of end users, which is expected to drive the market demand in the upcoming years
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