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Global Industrial Controls and Factory Automation Market To Surpass USD 109.0 Billion

08-10-2018 01:26 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Reports Monitor

Global Industrial Controls and Factory Automation Market To Surpass USD 109.0 Billion

The Global Industrial Controls and Factory Automation Market were estimated as USD 109.0 Billion in 2014 and is projected to witness a stable growth over the forecast period. Growing demand of automation for streamlining the processes through real time gathering and control in Chemical, Oil & gas, Water treatment, Automotive industries is projected to fuel the market growth.

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Extensive application of technology in manufacturing processes, need for supply chain and mass production for catering the growing population are few factors positively influencing the industry growth. Furthermore, growing government initiatives for adoption of industrial automation in various industries is anticipated to fuel the industry growth.

Automation in the industry aids in monitoring the production, ensuring fast production, product quality, reducing waste, while minimizing the costs, standardizing the manufacturing processes. This also provides reliable and flexible solutions in manufacturing plants. The emerging application which includes electronic power distribution systems, heating ventilation air conditioning (HVAC), and human machine interface (HMI) is projected to further spur the market growth over the forecast period.

Based on the product, the automation market is categorized into Supervisory Control and Data Acquisition (SCADA), Manufacturing Execution System (MES), Distributed Control System (DCS), Programmable Logic Controller (PLC), Drives, Relays and Sensors. The end users include Process industries and Discrete industries..

The MES is anticipated to acquire the major share in the industry over the forecast period due to its association with tasks of production management in a comprehensive software system. The process industry is also projected to major share in end-user segment owing to the rising cost pressure on manufacturers for optimizing the production process.

Although, lack of expertise for handling the control and factory automation and initial high capital investments for installation may impede the industry growth. However, introduction of cost-effective models for adopting industrial control and intuitive and user friendly model of automation system is anticipated to create growth opportunities.

Europe and North America regions are estimated to attain the foremost share of the industry. Increasing focus towards the renewable energy in the European countries is projected to build the demand for the automation solutions over the forecast period. Furthermore, increasing demand for the building the smart factories in manufacturing based countries such as China and Germany has created an emerging environment for automating their existing manufacturing facilities..

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Asia Pacific region is also anticipated to emerge as a promising market owing to the increased industrialization and rising awareness for automation control with supportive government policies in various countries which include China, Japan, and India.

Key players in the industry include ABB Ltd, Emerson Electric, General Electric Co., Honeywell International, Schneider Electric, Ametek Inc., and Siemens Ag. Other players include Yokogawa Electric Corporation, Bosch Automation, Mitsubishi Corporation, National Instrument Corporation, Omron Corporation and Rockwell Automation.

The developers and vendors of ERP solutions are increasingly offering cloud-based solutions as automation solution for reduce the implementation cost and on-demand customization for meeting the specific requirements of various businesses.

Reports Monitor (reportsmonitor.com) is a platform for companies looking to meet their market research and business intelligence requirements. Our aim is to change the dynamics of the Market Research industry by providing quality intelligence backed by data. Your requirement for market forecasting is fulfilled by our exclusive quantitative and analytics driven intelligence. We have a vast collection of reports, covering maximum industries worldwide. Our process is meticulously planned and executed in order to use maximum resources and explore the market for getting genuine insights. The prime focus is to get reliable data, Decision makers can now rely on our distinct data gathering methods to get factual market forecasting and detailed analysis.

Jay Matthews
Direct: +1 513 549-5911
Email: sales@reportsmonitor.com

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