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Machine Automation Controller Market Reached USD 33,700 million in 2019 and will grow at a CAGR of 4.3% | Report Size, Growth & Analysis
Machine Automation Controller Market
The Machine Automation Controller Market was estimated around USD 33,700 million in 2019 and is predicted to expand at a CAGR of 4.3% over the forecast period (2020-2027).
For More Info, Click to Access Complete Report - https://www.gmiresearch.com/report/machine-automation-controller-market/
The factors driving the growth of Machine Automation Controller Market includes increasing use of robots in the manufacturing industry, growing focus by companies on reducing the manufacturing costs, Government initiatives promoting digitalization and emerging need to enhance the productivity in the process industries. According to the report published by Bloomberg, the Global Industrial Robotics Market was estimated around USD 41.7 billion in 2021 and is expected to reach USD 81.4 billion by 2028, growing at a CAGR of 11.8% over the forecast period (2022-2028), which will accelerate the Machine Automation Controller Market Size in the approaching years. Moreover, rise in the launch of innovative products, increasing application of machine automation controller systems in end-use industries such as Energy & Power, Food & Beverages, and Pharmaceutical, technological advancements in machine automation controller solutions, are some of the additional factors supplementing the Machine Automation Controller Market Research. In addition, the increasing investments by leading players on research and development, rapid urbanization, rising disposable income, and growing population growth rates, are further contributing towards the market growth.
However, growth of the Machine Automation Controller Market insouciant availability of skilled workforce.
The leading players operating in the market are Yokogawa Electric Corporation, Delta Electronics, Inc., Honeywell International Inc., OMRON Corporation, ABB Group, Siemens AG, Mitsubishi Electric Corporation, Rockwell Automation, Inc., Robert Bosch GmbH, Schneider Electric SE, Emerson Electric Co., and Beckhoff Automation GmbH & & Co. KG.
Based on Controller Type, the Distributed Control System (DCS) segment is predicted to grow at a significant CAGR during the forecast period
Distributed Control System enhances the effectiveness in operations and optimizes maintenance routine at plant level along with growing demand for centralized controlling system, are propelling growth of the segment.
Based on Industry, the Energy & Power segment is projected to expand at a remarkable CAGR over the forecast period
Emerging need to upgrade the existing grid infrastructure, rising energy consumption and growing adoption of automated technologies, is pushing segment's growth.
Based on Region, the Asia-Pacific region is anticipated to hold the highest market share during the forecast period
Growing demand for machine automation controller systems in end-use industries such as Automotive, Chemicals and Pharmaceuticals, rapid urbanization, increasing per capita incomes and high population growth rates, are some of the important factors augmenting the market growth in Asia-Pacific region.
Key Developments
In Dec 2019, ABB introduced IP67 rated IRB 1100 robot, powered by the OmniCore C90XT controller, which is designed for a rough environment with enhanced protection against water and dust.
In Nov 2018, Emerson inaugurated a new facility and first industrial solutions center in Jukjeon, South Korea. The center will use USD 25 million worth of facilities to serve Emerson's automation solutions to its customers in the region.
Market Segmentation
Segmentation by Controller Type
Distributed Control System (DCS)
Programmable Logic Controller (PLC)
Industrial PC
Segmentation by Form Factor
IP65
IP20
Others
Segmentation by Industry
Process Industries
Oil & Gas
Energy & Power
Food & Beverages
Chemicals
Pharmaceuticals
Metals & Mining
Pulp & Paper
Others
Discrete Industries
Automotive
Aerospace & Defense
Semiconductor & Electronics
Medical Devices
Segmentation by Region
Asia Pacific
China
Japan
India
Rest of APAC
North America
United States of America
Canada
Europe
United Kingdom
Germany
France
Spain
Rest of Europe
RoW
Brazil
South Africa
Saudi Arabia
UAE
About GMI Research
GMI Research is a market research and consulting firm which provides market insights and intelligence across 12 major sectors helping our clients in making effective investment and business decisions.
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