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Industrial Automation Market Insights & Forecast Over 2019 – 2025, Key Players Are: Schneider Electric SE, General Electric Company, ABB Group, Fuji Electric Ltd

11-13-2019 06:33 AM CET | IT, New Media & Software

Press release from: Global Market Insights

Industrial Automation Market

Industrial Automation Market

Global Industrial Automation Market Forecast to 2025 released By Global Market Insights, Inc. provides market information about industry top key players, countries, type and application. This report also states company profile, sales, market revenue and price, market share, market growth and gross margin by regions, strategic recommendations for the new entrants, market forecasts for a minimum of five years of all the mentioned segments, sub segments and the regional markets.

The mining & metal industry is expected to witness high growth in the industrial automation market due to the rise in the adoption of remotely operated technologies in mines. The processes involved in the mining industry, such as metal extraction, grinding, milling, spinning, and forging, have high risks to worker’s health & safety, encouraging the companies to install modern technologies to reduce industrial fatalities and accidents.

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High manufacturing & maintenance cost associated with these automated solutions is the major factor restraining the industrial automation market growth. Automated machines require periodical maintenance & repair for reducing the chances of system downtime and failure. As the machines are integrated with modern and high-cost components, their replacement will increase the overall maintenance cost of the business. With high operational & maintenance costs of the equipment, SMBs are preferring manual operational solutions to reduce their overall capital expenses, thereby negatively impacting the industrial automation market demand. The lack of skilled technicians and engineers to operate these solutions is also encouraging the businesses to invest highly to procure services from manufacturers or service providers.

For instance, in August 2018, Rio Tinto announced its plans to deploy nine autonomous drilling systems in its Pilbara mines. The technology will allow the operators to use a single console to operate four drill rigs remotely, thereby enhancing mining operations. Similarly, driverless vehicles are being widely used for loading & unloading of the materials and equipment in mines. In January 2019, Inner Mongolia North Heavy Industries Group Corp. developed a driverless mining truck with a built-in GPS tracking feature and load capacity of around 110 metric tons.

The Asia Pacific industrial automation market is expected to witness high growth over the coming years owing to rapid digitalization and automation in industrial sectors. Countries including China, India, and Japan are the major economies with high growth in the manufacturing sector. The global companies are establishing their manufacturing base in these countries due to the easy availability of low-cost resources and labor. With this increase in the number of manufacturing facilities, the demand for automated technologies is growing rapidly to improve business productivity and efficiency in operations, thereby accelerating the industrial automation industry growth functionalities.

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The key players operating in the industrial automation market are Siemens AG, Vega Conveyors & Automation Ltd., Schneider Electric SE, General Electric Company, ABB Group, Fuji Electric Ltd., Hitachi Ltd., Honeywell International, WIKA Instruments India Pvt. Ltd., Azbil Corporation, FANUC Corporation, Danfoss Group, Krohne Group, Chaos Prime, and Rockwell Automation. The companies in the market are engaged in developing innovative technologies for different industrial segments.

Industrial Automation Market, By Component
• Control valves
• Field instruments
• Human-Machine Interface (HMI)
• Industrial robots
• Machine vision
• Sensors
• Others

Industrial Automation Market, By End-Use
• Aerospace & defense
• Automotive
• Food & beverages
• Mining & metals
• Semiconductor & electronics industry
• Others

Contact Us:

Arun Hegde
Corporate Sales, USA
Global Market Insights, Inc.
Phone: 1-302-846-7766
Toll Free: 1-888-689-0688
Email: sales@gminsights.com
Web: https://www.gminsights.com

About Global Market Insights:

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, Application, renewable energy and bio Application.

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