Industrial Controls and Robotics market: High Requirement for Reducing Turnaround Time along with Increasing Production to Propel Growth, finds TMR

The global industrial controls and robotics market is highly fragmented with the presence of a large number of companies, says Transparency Market Research (TMR) in a research report. Owing to the less degree of product differentiation and low entry barriers for new entrants, the competition in the market among the existing players is expected to increase over the forthcoming years. Thus, the leading players are striving to acquire a peak position and a high share in the global industrial controls and robotics market.

As many applications in the various industries need personalized automation systems, solution providers are coordinating with end users for designing the system according to their needs to gain a competitive advantage in the market. The players are also entering into strategic coalitions and mergers and acquisitions in order to expand their business. They are also focusing on the development of advanced products. Some of the leading companies in the market are Schneider Electric Corp., Fanuc Corp., Rockwell Automation, Yokogawa Corp., Honeywell Inc., Invensys PLC., Omron Corporation, Emerson Electric Corporation, Siemens AG, and ABB Ltd.

The global industrial controls and robotics market is likely to expand at a promising rate over the coming years. The market was worth US$118.53 bn in 2015 and is likely to rise to a valuation of US$147.77 bn by the end of 2019.

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Automotive Sector to Emerge as Leading Employer of Industrial Controls and Robotics

Industrial controls and robotics have applications in several fields were automation is needed. The former finds applications in OEM, food processing, semiconductors, pharmaceuticals, oil and gas, plastic, printing and packaging, chemicals, automotive, textiles, and power. Out of these, the automotive sector emerged dominant in 2015. It held a market worth US$19.39 bn in 2015 in the global industrial control and robotics market. The driving factors for the automotive industry are the implementation of new technologies, high growth in emerging areas and high demand for large scale production with better quality. Owing to the increasing number of production plants being set up across the world which entails more production to cope with the high demand, the deployment of industrial controls and robotics in the automotive sector is further expected to rise.

Geographically, the global industrial control and robotics market has been segmented into the Americas, Europe, Asia Pacific, and the Rest of the World. Amidst these, Asia Pacific emerged dominant in 2013 and is expected to rise to a valuation of US$50.55 bn by the end of 2019. Asia-Pacific is the leading market for industrial controls and robotics systems. The chief application sectors in the Asia Pacific region include food packaging, automotive, food, textile and printing industries. As this region comprises both developing and developed economies, there is a considerable difference in the growth patterns of different countries in the region. According to a TMR analyst, “The growth of the Asia Pacific industrial controls and robotics market can be attributed to the rising investment in the power industry over the last couple of years.”

Rise in Manual Involvement in Hazardous Tasks to Augment Adoption of Industrial Controls and Robotics

Industrial robotics efficiently protects workforces from injuries and also enhances workplace safety. A manufacturing robot does the same work done by the labors without injuring the labor force. Moreover, the robots can work around hazardous substances as well as endure an extreme work environment. By replacing workers from life threatening tasks and placing them in a challenging programming and operating job situation, industrial robotics improves the quality of product along with protecting the company from costly claims of insurance. It also reduces the turnaround time of the manufacturing unit and helps in increasing production by multitasking and auto-handling of the unit. Furthermore, the manufacturer reduces work-in-progress inventory by reducing the manufacturing lead time with the use of industrial automation.

This review is based on a Transparency Market Research report titled, “Industrial Controls and Robotics Market - Global Industry Size, Market Share, Trends, Analysis and Forecast 2013 - 2019.”

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