Industrial Automation Market Share, Research Analysis, Business Growth, Key Players, Emerging Trends, Opportunities and Regional Forecast 2023

Jun 3, 2019

Market Research Future published a research report on “Industrial Automation Market Research Report- Forecast 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.

Pune, India - June 3, 2019 /MarketersMedia/ —

Market Synopsis

The global industrial automation market is predicted to expand at 6% CAGR over the forecast period (2016-2022). The market is expected to reach USD 149 billion by 2022 owing to the Internet of things, asserts Market Research Future (MRFR). Industrial automation is the use of computer-aided devices to operate industrial processes by replacing human involvement. Industrial automation operates multiple processes in a controlled manner, thus increasing production quality by reducing time.

Drivers and Constraints Impacting the Market

Industrial automation entails the integration of components like automation control system and sensors at various levels such as supervision level, sensor level, automation level, and enterprise level. Industry players are focused on increasing the efficiency of manufacturing process which is one of the major factors driving the market. With the development of Internet of Things, computer-aided systems, and engineering technologies, the global Industrial Automation Market is estimated to stimulate over the forecast period. The increasing demand for fast production capacities in telecom networks, automotive assemblies, heat treating boilers and ovens, and others is also fueling the market growth.

On the flip side, decreasing human labor along with lack of awareness and scarcity of investment for several companies might inhibit the market growth during the assessment period. Moreover, steep cost needed to set up the systems for machinery products along with expensive R&D activities is likely to hamper the global market growth in the coming years.

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Key Players

The prominent players in the Industrial Automation Market are - Siemens AG (Germany), ABB Ltd. (Switzerland), Emerson Electric Company (U.S.), General Electric Company (U.S.), Schneider Electric SE (France), Honeywell International, Inc. (U.S.), Mitsubishi Electric Corporation (Japan), Yokogawa Electric (Japan), Ametek, Inc. (U.S.), Rockwell Automation, Inc. (U.S.) and Fanuc (Japan)

Global Industrial Automation Market - Segmentation

MRFR has segmented the analysis into four key dynamics for better understanding:

• By Type : Fixed Automation and Programmable Automation.
• By Technology: Supervisory control & data acquisition (SCADA), Distributed Control System (DCS), Programmable Logic Controller (PLC), Human Machine Interface (HMI), and Programmable Automation Controller (PAC)
• By End-user: Machine Manufacturing, Oil & Gas, Aerospace & Defense, Electronics, Automotive, and Pharmaceuticals among others.
• By Regions: Europe, North America, APAC, and the Rest-of-the-World (RoW)

Industrial Automation Market - Regional Analysis

Globally, Europe is the largest markets for industrial automation. Led by Germany, this region is expected to retain its dominance over the global industrial automation market throughout the forecast period. Major factors driving the expansion of the market in the region are the presence of key players, adoption of industry 4.0 standards for smart industries, increasing demand for industrial robots, growing automotive manufacturing plants, etc.

Not necessarily, that the largest markets will present the greatest market opportunities. To an extent, this does not consider the variety of economic, historical, and political factors that shape the global trade. For instance, Mexico is not the “largest” global market for industrial automation equipment objectively, China definitively holds this position.

Nonetheless, Mexico continues to present unparalleled opportunities for the U.S. exporters because of its shared border and lack of tariffs. Size also does not consider market access barriers, such as tariffs, or policy prescriptions, such as export controls, which may apply to the U.S. exporters.

Meanwhile, the Asia Pacific region is set to register a relatively higher CAGR of 11.39% during the projection period. The industrial automation market in the APAC is majorly driven by the factors such as the adoption of digitalization, development of the robotic sector, adoption of automation by electronics & electrical industry, a boost in the manufacturing industry, and advancements in sensor technologies among others.

Major players are focusing on the Asian market due to the increase in industrial growth in the region. They are targeting emerging countries like China and India for increasing the overall revenues. Therefore, the Asia Pacific region is expected to contribute significantly to the global industrial automation market. China, on the other hand, maybe the largest importer of industrial automation products in the world, but the U.S. exporters must contend more with regional competitors, such as Japan, Korea, and Taiwan, which will affect pricing and market entry.

Industry News

August 29, 2018: ABB is all set to enable one of the world’s largest digital substations with the upgrade of one of the biggest air-insulated substations ever built for the Belarus Ministry of Energy and its transmission utility Mogilevenergo. As part of the upgradation, the substation will be equipped with digital technology. ABB will supply control and protection equipment, a digital process bus, and an ABB Ability MicroSCADA system which will enable interoperable communication between vendors through Ethernet cables instead of copper wires.

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Intended Audience

• Process Automation and Instrumentation Manufacturers
• Industrial Robot Manufacturers
• MES (Manufacturing Execution System) and MOM (Manufacturing Operations Management) Players
• System Integrator

About Us:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.

Contact Info:
Name: Abhishek Sawant
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Organization: Market Research Future
Website: https://www.marketresearchfuture.com

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Source: MarketersMedia

Release ID: 519518

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