Natick, MA -- The worldwide market for temperature controllers is in decline. Of the major geographic regions (Americas, Asia-Pacific, and EMEA), VDC Research Group found that the only temperature controller markets experiencing growth are those in the Asia-Pacific region with forecasted growth of 0.7% though 2013.
"Increasing global price competition, a maturing market for these products, a slowing global economy, and competing technologies are all contributing factors to the declining worldwide temperature controller market," said Robert Torres, the primary VDC research analyst on the "Industrial Electronic Temperature Controllers: Global Market Demand Analysis, Tenth Edition" study. On a unit basis, VDC expects worldwide shipments will continue to increase somewhat for all the product types studied, except analog controllers. Average selling prices for all, however, are expected to decline.
Industrial electronic temperature controllers are being displaced in applications by other types. According to Jim Taylor, a Director at VDC Research, "There continues to be a trend in temperature control from manual control to temperature controllers and onto PLCs, PCs, and DCSs."
The Asia-Pacific industrial electronic temperature controller market is by far the largest. It is expected to increase over the next five years at a 1% compound annual growth rate, while the EMEA and Americas markets decline. One reason for the size and growth of the Asian market is that there are a large number of installations that are automating for the first time. These implementations are typically less complex and require single-loop solutions.
About VDC
VDC Research Group is a technology market research and strategy consulting firm that advises clients in a number of technology markets, including automatic identification and data collection, embedded hardware and systems, embedded software and tools, industrial automation and control, mobile and wireless, and power conversion and control. Using rigorous primary research and analysis techniques, the firm helps its clients identify, plan for, and capitalize on current and emerging market opportunities. We strive to deliver exceptional value to our clients by leveraging the considerable technical, operational, educational, and professional experience of our research and consulting staff. During our nearly four decades of ongoing operation, we have had the pleasure of serving most of the world's leading technology companies, many high-profile startups, and numerous blue-chip early and later-stage investors. Our products and services consist of research reports, annual research programs, and custom research and consulting services. Founded in 1971, the firm is located in the Boston area.