The report of Industrial Automation Market by Automation Type (Distributed Control System (DCS), Programmable Logic Control System (PLC), Machine Vision System, Manufacturing Execution System (MES), Human Machine Interface (HMI), Supervisory Control and Data Acquisition (SCADA), Product Lifecycle Management (PLM), Plant Asset Management, Computer Numerical Control (CNC) routers, Electronic Control Units (ECU), and Others), End User (Automation and Transportation, Metals and Mining, Oil and Gas, Pulp and Paper, Hydro power, Energy and Power System, Chemical, Material and Food, and Measurement and Instrumentation), and Region (North America, Asia Pacific, Europe, South America, Middle East & Africa) is expected to reach US$ XX Bn by 2027, at a CAGR of XX% during a forecast period.
The robust growth in the CNC technology segment is amplify the growth of the industrial automation market, particularly in the Asia Pacific and Europe region. The industrial automation market is developing to be a comparatively more attractive space for investment by organizations across the world. Therefore, it covers the way for larger implementation of the industrial control and industrial automation equipment. The raising implementation of technologies like industrial 4.0, artificial intelligence (AI) based smart robots, IoT, and others, assist to decrease the manufacturing cost and improved quality and reliability to the Automation Type. These factors are essential for companies to survive a top position in the competitive market. Key players are emphasized on mergers and collaboration to determine new opportunities by implementing IoT technologies. In May 2018, Rockwell Automation collaborated with Plug and Play, an innovation platform.
This collaboration benefits Rockwell Automation to discovery new opportunities to influence disruptive industrial IoT technologies. Additionally, improvement in computer-aided systems, industrial internet of things (IIoT), and forthcoming engineering 5G technology will drive the market growth in throughout the forecast period. Continuing improvements in the field of Industrial IoT also support to drive development in the automation industry and generating opportunities for disruptive industry models. In June 2019, Red Lion launched an innovative Signal Conditioner Automation Type lineup. Apart from this, the growth of the global industrial automation market is disturbed with huge threats in several regions all over the globe, considering the fact that the method accommodates to human labor replacement with machines and computers. The reducing human interface in various processes is resulting in loss of jobs in several industries which in turn is hampering the increasing adoption of industrial adoption systems.
The Automation Type segment is expected to grow at the highest XX% CAGR during the forecast period.
The Automation Type, Automation Type Lifecycle Management (PLM) is accounted for the largest XX% market share in the Industrial Automation market. Moreover, the demand for Supervisory Control and Data Acquisition (SCADA) systems is anticipated to rise at a robust rate due to the necessity to maintain the integrity of data and information. The End User segment is further sub-segmented into Automation and Transportation, Metals and Mining, Oil and Gas, Pulp and Paper, Hydro power, Energy and Power System, Chemical, Material and Food, Measurement and Instrumentation. The use of industrial automation has been growing across the automation industry over the past decade. This majorly owes to the raising need for accelerating manufacturing activities in the automobile industry.
North America is expected to witness the fastest growth during the forecast period.
North America is holding a key market share in terms of revenue, of industrial automation within the region. This growth is because of a rising demand for innovative manufacturing robotic technologies across the industry. The robust production ability and trading potential of key companies is also a crucial factor accountable for the growth in this region. Recently, the International Trade Administration, reported that, the U.S. exported approximately USD 12.7 Billion worth of automation equipment. Moreover, the U.S. was held the third-largest global exporters after China and Germany. Globally, U.S. is a competitive top–tier supplier of the automation equipment market.
Europe is likely to raise with the highest CAGR throughout the forecasted period. The development in this region is due to the growing demand for IoT solutions for the innovative automation process in the automotive and manufacturing industry. Main companies in this region are concentrating on mergers and collaboration with other players to improve and launch innovative automated Automation Types. The market growth in APAC is meaningfully compelled by growing industrial and manufacturing expansion activities in countries such as China, Japan, and India. Industrial automation market size in India is expected to grow with an exceptional CAGR, because of rising investment done by government and foreign investors.
Key players operating in the Industrial Automation market are ABB Ltd., Honeywell International Inc., FANUC Corporation, Yaskawa Electric Corporation, Toshiba Machine Corporation Ltd., Yokogawa Electric Corporation, Emerson Electric Company, General Electric Company, Rockwell Automation, Inc., Mitsubishi Electric Corporation, Voith GmbH., GE Company, Honeywell International Incorporation, Omron Corporation, Schneider Electric SA, Siemens AG, Kuka AG, Keyence Corporation, Fanuc Corporation, Bosch Rexroth, Fuji Electric Co., Ltd., Endress+Hauser AG, and Hitachi Ltd.
Maximize Market Research, a global market research firm with a dedicated team of specialists and data has carried out extensive research about. The report encompasses the market by different segments and region, providing an in-depth analysis of the overall industry ecosystem, useful for making an informed strategic decision by the key stakeholders in the industry. Importantly, the report delivers forecasts and share of the market, further giving an insight into the market dynamics, and future opportunities that might exist in the Industrial Automation market. The driving forces, as well as considerable restraints, have been explained in depth. In addition to this, competitive landscape describing the strategic growth of the competitors have been taken into consideration for enhancing market know-how of our clients and at the same time explain positioning of competitors.
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