Press release
Advanced Process Control Market: Challenges and Opportunities Report 2017 - 2023
Extensive use of enabling technologies in the manufacturing, continuous innovation in industrial robotics boosting its adoption in manufacturing, and government initiatives toward the adoption of industrial automation in various industries are majorly driving the growth of the market.
Technology giants such as Honeywell International Inc.,(U.S.), General Electric Company (U.S.), Mitsubishi Electric(Japan), Rockwell Automation(U.S.), Johnson Controls Inc.(U.S.), Samsung Electronics Co., Ltd. (South Korea) and others. General Electric Company is a major player in industrial automation services market, which provides professional service that enhance enterprise business by leveraging the latest learnings built into services offerings, capturing best practices and R&D from across GE. Honeywell International Inc. offers industrial automation services such as distributed control systems, quality control system services, safety system services, services for advanced software, and others.
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The global industrial automation services market is segmented on the basis of solution, service, and end-user. The service segment is further classified into professional service, service, consulting, technical training, system integration services, and others. The others segment includes managed services, which occupies a considerable share of the industrial automation services market. It can be defined as proactive management of an information technology asset or object by a third-party typically known as a MSP on behalf of the end-user. The operative distinction that sets apart a managed service program is the proactive delivery of their service as compared to reactive IT services, which have been around for decades. The key drivers contributing to the growth of the managed services are rise in the digital information, the need to secure it, increasing trend of bring your own devices, flexibility to match custom requirements, continuous upsurge in dependency over heterogeneous networks, and persistent rise in the complexity of technological solutions.
According to Market Research Future Analysis, the global industrial automation services market is estimated to generate revenue of approximately USD 55.60 billion by 2023 growing at a CAGR of 10% during the forecast period 2017-2023.
Some of the key players in the market: Siemens AG (German),Honeywell International Inc.,(U.S.) General Electric Company (U.S.), Mitsubishi Electric(Japan), Rockwell Automation(U.S.), Johnson Controls Inc.(U.S.), Samsung Electronics Co., Ltd. (South Korea), Schneider Electric (France), Yokogawa Electric Corporation(Japan), OMRON Corporation (Japan), Danaher Corporation (U.S.) among others.
The global industrial automation services market can be segmented on the basis of solution, service, and end-user. By the solution segment, the PLM segment accounts for highest market share. The end user is further segmented into automation and transportation, metals and mining, oil and gas, energy and power system, chemical, material and food. There is increase in the demand from the the environment and building technologies, heavy industries, and other segments. The energy and power systems is one of the major factors that is driving the demand for industrial automation industry across the globe.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
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