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Industrial Automation Market Projected To Rise At An Impressive CAGR Of 8.7% By 2027| ABB Ltd, Bosch, Honeywell Solutions, FANUC Corporation, Emerson, Voith Group, Schneider Electric, Mitsubishi Electric, Rockwell Automation, Toshiba Corporation, Yaskawa

05-05-2020 06:25 AM CET | Industry, Real Estate & Construction

Press release from: Industrial Automation Market

Industrial Automation Market 2020

Industrial Automation Market 2020

Recent research and the current scenario as well as future market potential of "Global Industrial Automation Market 2020".

The Global Industrial Automation market is projected to rise at an impressive CAGR of 8.7% by 2020-2027.

Get Free Sample Report of Industrial Automation Market & COVID-19 Impact Analysis @ https://decisionmarketreports.com/request-sample/1327411

Industrial automation is defined as the use of automatic control devices and technology that results in the automatic control and operation of industrial processes without human interference and achieving superior performance than manual control used in various industries by using robotics and computer software. Industrial Automation is the replacement of humans with computers and machines. These automation devices include PCs, PLCs, PACs and technologies include various industrial communication systems.

Global Industrial Automation Market - Market Dynamics

The principal characteristics of Industrial Automation such as increased productivity, less wastage, increased level of safety, optimum cost of operation, reduction of human errors, enhanced product quality, and reduction of routine checks are boosting the market. Moreover, sustainability, energy efficiency and smart technologies like IOT, machine learning are expected to drive the market growth. Industries implement automation to increase productivity and their benefits and other associated expenses while improving precision and flexibility. Growing industrial base and the rising number of companies are the primary reason for the growth of the market.

Below statistic illustrates the information about the global factory automation market from 2017 to 2021. The global market for global factory automation is expected to propel by 3.5 % between 2019 and 2020.

Few drawbacks of industrial automation are its installation and maintenance is very expensive, and opposition to automation by union people due to loss of employment are hinder the growth of the market.

Global Industrial Automation Market - Segment Analysis

Based on technology, the global industrial automation market has been segmented into supervisory control and data acquisition, human-machine interface, distributed control system, and others. Distributed control system occupied the dominant market share. The distributed control system handles the entire control system of a single automation system and the benefit of reducing the downtime and improve the production by using optimal resources. Additionally, the distributed control system are used in the application of oil & gas industry benefits in increasing the exploration activities in oil fields. In addition to this, it also benefits the manufacturing plants by simplifying complex operations, ensuring decision integrity, and improving productivity.

By mode of application, the global industrial automation market has been segmented into food & beverages, pharmaceuticals, automotive & transportation, machine manufacturing, aerospace, and others. Automotive & transportation hold a significant market share. This trend is estimated to continue during the forecast period. Increase in the use of automated systems by the industry players is majorly driving the market in the automotive and transportation sector.

Global Industrial Automation Market - Geographical Analysis

This report segments the market by geographic region which includes North America, South America, Europe, Asia-Pacific, and ROW. Among all these, the Asia Pacific occupied the dominant segment in the industrial automation market and is expected to grow at a CAGR of XX% in the forecast period owing to advancement in technologies along with integration with current manufacturing environment. Additionally, the presence of manufacturing companies and developing economies of the Asian countries are contributing to the growth of the market. However, North America is expected to grow at a higher pace in the forecast period due to technological advancements in this region. For instance, according to a recent study by statista North American market for global factory automation reached USD 19.7 billion in 2018.

Global Industrial Automation Market - Competitive Analysis

Prominent players in global Industrial Automation market are ABB Ltd, Bosch, Honeywell Solutions, FANUC Corporation, Emerson Electric, Voith GmbH, Schneider Electric, Mitsubishi Electric, Rockwell Automation Inc., Toshiba Machine Corporation Ltd, Yaskawa Electric, Yokogawa Electric Corporation, General Electric, and others. Most of these companies are making a huge investment in designing various cover glasses using different techniques. Product launches, partnerships, and expansions are expected some of the strategies adopted by players to increase the market share. For instance, in July 2018, GE joined with Microsoft Corporation to bring together information technology and operation technology to eliminate hurdles industrial companies face in advancing digital transformation projects.

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Key Takeaways

In April 2017, ABB joined IBM for industrial artificial intelligence solutions to improve the production lines by identifying critical faults during the manufacturing process.

Why Purchase the Report?

Visualize the composition of the industrial automation market across each indication, in terms of type and treatment options, highlighting the key commercial assets and players.
Identify commercial opportunities in the industrial automation market by analyzing trends and co-development deals.
Excel data sheet with thousands of data points of the industrial automation market - level 4/5 segmentation.
PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
Product mapping in excel for the key products of all major market players

Target Audience:

Equipment Suppliers/ Buyers
Service Providers/ Buyers
Industry Investors/Investment Bankers
Education & Research Institutes
Research Professionals
Emerging Companies
Manufacturers

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