Press release
Industrial Automation Market 2018 Global Leaders Analysis: Mitsubishi Electric, Siemens AG, Emerson Electric Company, General Electric Company, Schneider Electric SE, Yokogawa Electric, Ametek, ABB Ltd
Market Synopsis:
Industrial automation involves using computer-aided control devices to operate different industrial processes by replacing human involvement. The global industrial automation market is projected to grow at a 6% CAGR during the review period of 2016 and 2022.
Market Dynamics:
The Critical Benefits Of Automation Is The Prime Driver Of The Market
Advantages of industrial automation such as lower operating cost, reduction in human error, lower wastage, efficient manufacturing, and synchronization of procedures, quality production, faster product lifecycle and others are the prime drivers of the market.
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Growing Industrialization And Reduction Of Risk And Hazard Is Expected To Result In Greater Adoption
Expanding industrial base and rising number of companies coupled with advancements in capabilities of sensors and automation technology are the other drivers of the market. The rise of complementary industries such as automotive industries and growth in demand due to rising per capita income and population around the world coupled with risk and hazard reduction are strong reasons for rapid uptake.
Product Development And Advent Of Internet Of Things Is Expected To Be The Largest Market Opportunity
Improvements in the human-machine interface, growing interconnectivity, the advent of the internet of things, developments in computer-aided systems, and others are resulting in higher market demand.
Need For Business Restructuring And Lack Of Trained Work Force Represents The Market Barriers
The requirement for business restructuring, fragmented company structure and disoriented manufacturing, and Lack of trained workforce are the market restraints. The presence of a considerable number of small-scale industries in nations like India, which do not possess the means of buying such systems coupled with the high cost of installation and maintenance are formidable barriers. Opposition to automation by trade unions due to loss of employment has compounded the situation.
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)
Industrial Automation Market Segmentation
The 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.
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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Intended Audience
• 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
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.
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