In this rapidly changing environment, companies are expanding their scale of operations by increasing investments. In industrial automation innovation is very beneficial. Industrial automation has become worldwide. Different countries are exploring ways for industrial automation. Robotics in industrial automation has established a trend in industrial automation.
Internet of things (IOT) is considered as a major component with respect to industrial automation therefore industries adopting Internet of Things which has increased the demand for industrial automation. There was a recent report from the United Nation about the industrial automation which stated that there are high chances that industrial automation would disrupt the labor market. This has become a threat for industrial automation.
Industrial Automation Market is growing rapidly over 6% of CAGR and is expected to reach at USD 149 billion by the end of forecast period. Cost reduction, high efficiency in the process and ability to provide the overall information and initiate early stage development for the products are the major driving factors of this market.
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Major Key Players in Industrial Automation Market are
- Emerson Electric Company (U.S.),
- General Electric Company (U.S.),
- Siemens AG (Germany),
- ABB Ltd. (Switzerland),
- Schneider Electric SE (France),
- Honeywell International, Inc. (U.S.),
- Mitsubishi Electric Corporation (Japan),
- Yokogawa Electric (Japan),
- Rockwell Automation, Inc. (U.S.)
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Industrial Automation Market Segmentation
Industrial Automation Market has been segmented on the basis of type, technology, and end user. Looking through the industry segments it’s been observed that manufacturing industry would expect a substantial increase in industrial automation sector. Whereas metals and mining, oil and gas, automotive and transport industries are also leading industries in industrial automation sector. These industries are showing a positive growth towards industrial automation.
Access the market data and market information presented through more than 60 market data tables and 25 figures spread over 110 numbers of pages of the project report “Industrial Automation Market Research Report- Forecast 2022”
Market Research Analysis:
Market Research Future Analysis shows that there are many organizations which are lagging in industrial automation but there is an expectation of sudden hike in industrial automation. It has been observed that many companies are getting incentives for increasing their investment in industrial automation. The major benefits of industrial automation are increase in production, quality and replacing labor intervention. These factors would definitely increase the industrial automation market very soon.
Regional analysis for Industrial Automation Market is studied in different geographic regions as Americas, Europe, Asia-Pacific and Rest of world. It has been observed that Europe would account for larger share in industrial automation sector followed by North America and Asia-Pacific. Asia-Pacific countries like Japan, China, and Korea, also the south East Asian countries like Vietnam are also showing progress in field of industrial automation.
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