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.
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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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: Segmental Analysis
The global industrial automation market has been segmented on the basis of type, technology, end-users, and region.
- By mode of type, the global industrial automation market has been segmented into programmable automation and fixed automation.
- By mode of technology, the global industrial automation market has been segmented into Supervisory control and data acquisition (SCADA), Programmable Automation Controller (PAC), Programmable Logic Controller (PLC), Human Machine Interface (HMI), Distributed Control System (DCS), and others.
- By mode of end-users, the global industrial automation market has been segmented into pharmaceuticals, automotive & transportation, food & beverages, machine manufacturing, electric power generation, aerospace & defense, electrical & electronics, chemical, oil & gas, mining & metals, and others.
Geographically, the industrial automation market spans across regions namely, North America, Asia Pacific, Europe, and Rest-of-the-World (RoW).
Among all the regions, Asia Pacific is anticipated to dominate the global market owing to the growing application areas on a yearly basis. Advancement in technologies along with integration with current manufacturing environment is predicted to stimulate the market growth. Moreover, the presence of manufacturing companies and developing economy of the Asian countries is likely to contribute to the growth of the market during the assessment period.
North America holds the second position owing to the high demand for semiconductor products and manufacturing. Technological advancements in this region is also another major factor stimulating the market growth during the assessment period.
Meanwhile, Europe is anticipated to showcase a positive growth rate during the forecast period due to the increasing automotive and power generation industries in this region.
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- Process Automation and Instrumentation Manufacturers
- Industrial Robot Manufacturers
- MES (Manufacturing Execution System) and MOM (Manufacturing Operations Management) Players
- System Integrators
- Government Organizations
- Research/Consultancy firms
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