Press release
South Korea Automation and Industrial Control Market 2021 : Future Growth Prospect, Industry Share And Growing Demand Analysis Till 2026
The South Korea Automation and Industrial Control Market report offers an in-depth assessment of market dynamics, the competitive landscape, segments, and regions in order to help readers to become familiar with the South Korea Automation and Industrial Control market. It particularly sheds light on market fluctuations, pricing structure, uncertainties, potential risks, and growth prospects to help players to plan effective strategies for gaining successful in the South Korea Automation and Industrial Control market. Importantly, it allows players to gain deep insights into the business development and market growth of leading companies operating in the South Korea Automation and Industrial Control market.South Koreas Automation and Industrial Control Market is expected to grow at a CAGR of 9.75% during the forecast period 2021 - 2026.
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Top Leading Companies of South Korea Automation and Industrial Control Market are - Yokogawa Electric Corporation, Rockwell Automation Inc., Honeywell International Inc., ABB Limited, Schneider Electric SE, Emerson Electric Co., Mitsubishi Electric Corporation, Siemens AG, Yaskawa Electric Corporation, Omron Corporation, CIMON Inc., B&R Industrial Automation GmbH, Autonics Corporation, SICK AG, Renesas Electronics Corporation and others.
Industry News and Updates:
- April 2020: Yaskawa Electric Corporation launched a New Multipurpose Robot, MOTOMAN-GP300R, which is capable of applying in different voltages and various safety standards across the world. This product can not only effectively use installation space on the floor but also reduces the facility cost through weight reduction.
- March 2020: B&R introduced a new Compact-S PLC for its customers. Moreover, this product provides twice the RAM capacity of its previous models and is suitable for applications of higher memory requirements and performance. This product also consists of 512 MB of RAM and 2 GB internal flash memory.
Key Market Trends:
Industrial Robotics is estimated to hold Largest Market Share
- South Korea is a renowned hub of industrial robotics in all over the world and is influencling the growth of Automation and Industrial control market. Most of the manufacturers in this industry are increasing investment in infrastructure and business outsourcing to drive the growth of this market.
- According to the International Federation of Robotics, this country boasts 631 robots per 10,000 employees, which is eight times the global average. Moreover, the government is also investing hundreds of millions of dollars each year to help automate and upgrade its industries. For instance, Soth Korean government completed an agreement with Samsung Electronics Co. to create a 100 billion won fund that would help 2,500 companies of this region to transform into the smart factories.
Power Generation is one of the Fastest Growing Segment
- The huge demand for renewable energy sources is supporting the need for Automation and Industrial control for power generation industries. The energy sector in this region is an early adopter of digital technologies, which has resulted in improved process automation and control. The power plant automation system consists of input and output modules that meet strict standards for isolation, surge-withstand capability, and environmental specifications.
- Major Power plants in this market are also investing in automation technologies to improve the efficiency of their systems. Emerson already installed an oviation control system in two power plants in this region. Recently in 2019, Valmet completed a strategic partnership with GS EPS Co Ltd to provide a repeat automation technology. As per the agreement, Valmet will deliver an automation system, plant performance system, fuel management system, etc.
Investigator Observers Strong Growth in Specific Regions:
– Europe Market (Germany, UK, France, Russia, Italy)
– Center East and Africa Market (Saudi Arabia, UAE, Egypt, Nigeria, South Africa)
– South America Market (Brazil, Argentina, Colombia)
– North America Market (United States, Canada, Mexico)
– Asia Pacific Market (China, Japan, Korea, India, Southeast Asia).
The Latest Industry Data Included in this Report:
- South Korea Automation and Industrial Control Market Size & Analysis (2016 - 2026)
- Market Share Analysis of South Korea Automation and Industrial Control Market (%),2016 - 2026
- South Korea Automation and Industrial Control Market Share, By Brand
- South Korea Automation and Industrial Control Market Share, By Company
- South Korea Automation and Industrial Control Market Assessment & Opportunity (Value),2016 - 2026
- Major Companies South Korea Automation and Industrial Control Market Value Analysis & Forecast
- Promising South Korea Automation and Industrial Control Development by Major Companies
- Detailed South Korea Automation and Industrial Control Portfolio of the Major Companies
- Major Deals in the South Korea Automation and Industrial Control Market
- Major Companies Analysis
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https://www.marketinsightsreports.com/reports/02082593509/south-korea-automation-and-industrial-control-market-growth-trends-covid-19-impact-and-forecasts-2021-2026?Mode=namita
We Offer Customization on Report Based on Specific Client Requirement:
- Country Level analysis for any 5 countries of your choice.
- Competitive analysis of any 5 key market players.
- 40 analyst hours to cover any other data point.
Contact Us:
Irfan Tamboli (Head of Sales) – Market Insights Reports
Phone: + 1704 266 3234 | +91-750-707-8687
sales@marketinsightsreports.com | irfan@marketinsightsreports.com
About Us:
MarketInsightsReports provides syndicated market research on industry verticals including Healthcare, Information and Communication Technology (ICT), Technology and Media, Chemicals, Materials, Energy, Heavy Industry, etc. MarketInsightsReports provides global and regional market intelligence coverage, a 360-degree market view which includes statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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