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Industrial Controls And Robotics Market Tends To Rise Due To Ability Of Robots To Perform Risky And Hazardous Operations

10-21-2016 04:06 PM CET | IT, New Media & Software

Press release from: TMR Research Reports

Industrial controls and robotics systems include various instrumentation and automation equipment. These tools serve to monitor and control the various processes within industries. Demand for industrial automation and control systems is expected to grow owing to increased demand for high product quality, paired with expectations of high reliability in large volume production.

Global industrial controls and robotics market was valued at USD 102.02 billion in 2012 and is expected to reach USD 147.7 billion in 2019, at a CAGR of 5.6% from 2013 to 2019. To increase productivity, the industries are switching towards automation and are deploying various industrial control and robotics tools.

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This market is driven by its increased usage in discrete and process industries such as automotive, power, pharmaceutical, and semiconductors industries. Need for improved efficiency and precision, ability of robots to perform risky and hazardous operations, and consistent quality output are factors encouraging deployment of robots in industries. While, high initial investment and need of skilled labor to operate robots as well as availability of low cost labor in countries like India, Indonesia, and China are some of the factors inhibiting the growth of this market.

In terms of end user industries, automotive industry was the largest and accounted for 16.12% share in 2012. The semiconductor industry is expected to show strong growth followed by pharmaceutical industry during the forecast period. Automation in semiconductor industry is driven by demand for high volume, low cost, and customized manufacturing that helps to achieve business and technological goals.

By geography, Americas held the largest market share of industrial controls and robotics systems market followed by Asia Pacific in 2012. Growth of industrial controls and robotics market in North America is due to increasing demand for mass production and re-engineering in the old industrial segment along with adoption of new technologies. RoW market foresees strong growth potential for industrial controls and robotics market during forecast period. The growth in Asia Pacific market is attributed to heavy investment in power industry.

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This market is fragmented in nature and players such as Siemens AG, ABB Ltd., Fanuc Corporation, Omron Corporation, Rockwell Automation, Emerson Corporation, KUKA Robotics, are the major share holders as of now. Siemens AG and ABB Ltd. hold the major market share of the industrial control and robotics market. Leading players in the market follow inorganic growth through mergers and acquisitions, and strategic alliances for expansion of business. For example, ABB Ltd., a leading power and automation technology group acquired Baldor Electric Company, a North American leader in industrial motors in 2011 for a value of USD 4.2 billion. Acquisition of Baldor Electric provides a strong platform for ABB to increase its penetration in the North American market for distributed control systems.

Transparency Market Research (TMR) is a global market intelligence company, providing global business information reports and services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of Analysts, Researchers, and Consultants, use proprietary data sources and various tools and techniques to gather and analyze information.

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