San Francisco, CA -- (SBWIRE) -- 07/09/2019 -- The global single loop controller market has been witnessing a significant surge in its valuation, thanks to wide application base. With the continued advancement in technologies, the demand for single loop controller has augmented drastically. This, in turn, is boosting the global single loop controller market to a great extent.
In this research report, a thoroughly evaluated assessment of the global single loop controller market has been presented using quantitative and qualitative analysis techniques. It has assessed the market's performance over the period from 2018 to 2028 on the basis of the key trends and market dynamics. It also offers precise analyses of the main segments and each of the regional single loop controller markets across the world.
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Global Single Loop Controller Market: Notable Developments
Recently, Yokogawa released an improved version of the STARDOM network-based control system. Which consists of several components, such as HMI and FAST/TOOLSTM SCADA. The key application of this control system is operation, data collection, control, monitoring, and storage. In a separate event, the company announced a partnership between Yokogawa United Kingdom Ltd., its subsidiary and British Pipeline Agency Limited (BPA) in order to provide supervisory control and data acquisition (SCADA) systems and enterprise pipeline management solution (EPMS) for major multi-product fuel pipeline project in the United Kingdom.
ABB has announced the acquisition of GE Industrial Solutions. With this move, the company is looking to strengthen its position in the electrification industry and expanding its access to North America.
The key players in the global single loop controller market are WEST Control Solutions, Eurotherm, Honeywell, ABB, OMRON, Sure Controls, Yokogawa, Gefran, Azbil Corp., Mitsubishi, Carotek, and PSG Plastic Service GmbH. These players are expected to be involved in mergers, acquisitions, and strategic partnerships to gain a strong foothold in the worldwide sigle loop controller market over the years to come.
Global Single loop controller Market Dynamics
The demand for single loop controllers is likely to increase tremendously in the near future. Their extensive application in various industries, such as the oil and gas, petrochemicals, food and beverages, and power plants is expected to propel the global single loop controller market substantially in the years to come. The advent of hybrid temperature controllers and the ability to enhance the process efficiency, communicate flexibly, and minimize waste of single loop controllers are also projected to boost this market over the next few years.
Asia Pacific to Report Faster Growth
In terms of the region, the single loop controller market in Asia Pacific has been leading the global market. Asian economies, such as India, China, and Japan, are reporting a significant rise in the advancements and uptake of technologies, such as Industry 4.0 and smart factory. The significant rise in the manufacturing industry, is thereby, influencing the uptake of industrial automation solutions in this region. This, in turn, is reflecting greatly on the single loop controller market in Asia Pacific.
Going forward, the dense population and the rising per capita income of consumers in this region will support the Asia Pacific single loop controller market significantly over the next few years. The large-scale industrialization and urbanization in this region is also projected to boost the demand for single loop controller in Asia Pacific in the near future.
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