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Industrial Automation Market to Depict the High Demand from Mining & Metal Industry Over 2019 – 2025
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The growing adoption of robotic technologies in the manufacturing environment is predicted to drive the industrial automation market growth. The industries are installing robots to limit human intervention that will help them to achieve enhanced product quality at high production capacity. Some of the major operations performed by these robotic solutions include welding, spraying, processing, assembly, and inspection. Increasing adoption of automated material handling solutions and the rise in the shift from traditional manual handling to automated technologies will also drive the industrial automation industry growth.
Industrial Automation Market report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2014 to 2025, for the following 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
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.
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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.
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. Furthermore, they are competing in the industry by engaging in partnerships and collaborations for expanding their business presence and product offerings. For instance, in March 2019, Ryohshin and AMP Robotics Corp. announced their partnership to develop and sell AI-based industrial robotic solutions for material recovery in construction & demolition industries.
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