Press release
Southeast Asia Industrial Automation And Process Control Market Worth 4,443.8 Million USD By 2023
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According to this latest publication from Meticulous Research®, the Southeast Asian industrial automation and process control market will grow at a CAGR of 8.1% from 2018 to 2023 to reach USD 4,443.8 million by 2023, driven by increasing government funding to promote the adoption of automated systems in various industrial verticals, flourishing demand for automation from various manufacturing sectors, growing innovations in industrial robotics, increasing technological advancements in manufacturing, and demand for mass production and associated supply chain to cater to the growing population. In addition, growing digitalization and accelerating pace of change, industry 4.0 revolution, increasing demand for safety compliance of automation products, and growing manufacturing sector in emerging economies further provides significant opportunities for the various stakeholders in this market. However, factors such as rising unemployment, high capital investments, decreasing oil and gas prices affecting infrastructure related investments are expected to hinder the growth of the market to some extent.
Key Market Segments to Watch
The Southeast Asia industrial automation and process control market is mainly segmented by product type (product lifecycle management, distributed control system, supervisory control and data acquisition systems, variable frequency drive, general motion controls, programmable logic controller, sensors and transmitters, manufacturing execution system, flowmeters, machine safety system, enterprise asset management, human machine interface, process safety system, and operator training simulator), industry vertical (process and discrete industry), and geography (Singapore, Vietnam, Thailand, Malaysia, Indonesia, Philippines, and others).
On the basis of type, the product lifecycle management system held the largest share in the global market and helps drive top-line revenue through repeatable process, maximizes the life-time value of the business process, and sets up single system of record for diverse data needs.
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Based on industry vertical, the Southeast Asia industrial automation and process control market is categorized into process and discrete industry. The process industries include oil and gas, energy and power system, chemical and petrochemical, metals and mining, lifesciences, food and beverage, water and wastewater, pulp and paper, cement and glass, textile, rubber and plastic, and metal fabrication. On the other hand, the discrete industry is sub-segmented into automotive, machine manufacturing, semiconductor and electronics, aerospace and defense, medical devices, printing, and packaging. The discrete industry is currently the largest adopter of automation and process control solutions, mainly attributed to increasing investments in the automotive, electrical, and semiconductor sector. However, the process industry is expected to witness significant growth during the forecast period.
Geographically, the Southeast Asia industrial automation and process control market is segmented into Singapore, Vietnam, Thailand, Malaysia, Indonesia, Philippines, and others. Singapore is the largest market for industrial automation and process control solutions in the Southeast Asia. The government initiatives such as the National Robotics Programme bring together public agencies and companies to develop a vibrant robotics and automation ecosystem in the country. Moreover, the advanced technical education which includes secondary and post-secondary levels further attracts strong multinational corporations, thus providing skilled workforce to handle technical and digital equipment in the Singapore.
The key players operating in the Southeast Asia industrial automation and process control market are Siemens AG (Germany), ABB Group (Switzerland), Fanuc Corporation (Japan), Rockwell Automation Inc. (U.S.), Emerson Electric Corporation (U.S.), Universal Robots (Denmark), Schneider Electric SE (France), Yokogawa Electric Corporation (Japan), Honeywell International Inc. (U.S.), Panasonic Corporation (Japan), Eaton Corporation (Ireland), and Scott Automation and Robotics (Australia).
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About Meticulous Research®
Meticulous Research® is founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
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Viren Shrivastava
AVP- Global Sales and Marketing
Meticulous Research®
Email: viren@meticulousresearch.com
Direct Lines: +1-646-781-8004 (North America)
+44-203-868-8738 (Europe)
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