Market Synopsis:
Industrial automation involves using computer-aided control devices to operate different industrial processes by replacing human involvement. market is projected to exhibit a compound annual growth rate of 9.35% during the forecast period (2018 to 2023).
Market Dynamics:
The Critical Benefits Of Automation Is The Prime Driver Of The Market
Advantages of industrial automation such as lower operating cost, reduction in human error, lower wastage, efficient manufacturing, and synchronization of procedures, quality production, faster product lifecycle and others are the prime drivers of the market.
Growing Industrialization And Reduction Of Risk And Hazard Is Expected To Result In Greater Adoption
Expanding industrial base and rising number of companies coupled with advancements in capabilities of sensors and automation technology are the other drivers of the market. The rise of complementary industries such as automotive industries and growth in demand due to rising per capita income and population around the world coupled with risk and hazard reduction are strong reasons for rapid uptake.
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Product Development And Advent Of Internet Of Things Is Expected To Be The Largest Market Opportunity
Improvements in the human-machine interface, growing interconnectivity, the advent of the internet of things, developments in computer-aided systems, and others are resulting in higher market demand.
Need For Business Restructuring And Lack Of Trained Work Force Represents The Market Barriers
The requirement for business restructuring, fragmented company structure and disoriented manufacturing, and Lack of trained workforce are the market restraints. The presence of a considerable number of small-scale industries in nations like India, which do not possess the means of buying such systems coupled with the high cost of installation and maintenance are formidable barriers. Opposition to automation by trade unions due to loss of employment has compounded the situation.
Segments:
To generate an accurate assessment of the global Industrial Automation Market, the report is segmented into type, technology, end users, and regions.
- Based on the type, the market is segmented into fixed automation and programmable automation
- Based on the technology, the market is segmented into supervisory control and data acquisition (SCADA), programmable automation controller (PAC), programmable logic controller (PLC), a distributed control system (DCS), human-machine interface (HMI),
- Based on the end-user industries, the market is segmented into machine manufacturing, oil & gas, aerospace & defense, electrical & electronics, automotive & transportation, chemical, pharmaceuticals, mining & metals, food & beverages, and electric power generation
- Based on regions, the market is segmented into North America, Europe, Asia Pacific, Rest of the World.
Key Players
The prominent players in the Industrial Automation Market are – Siemens AG (Germany), ABB Ltd. (Switzerland), Emerson Electric Company (U.S.), General Electric Company (U.S.), Schneider Electric SE (France), Honeywell International, Inc. (U.S.), Mitsubishi Electric Corporation (Japan), Yokogawa Electric (Japan), Ametek, Inc. (U.S.), Rockwell Automation, Inc. (U.S.) and Fanuc (Japan)
Regional Analysis:
The ongoing global trend towards greater industrial automation is being reflected in an increase in the number of industrial robots into the US. The European market is led by Germany owing to its sizeable automotive industry and presence of large players such as Audi, Volkswagen, and others.
North America is dominated by the U.S. owing to faster uptake of technology, large industrial sectors, and a lower population of these regions.
The Asian Pacific market is growing at a faster rate led by industrial giants China and India. Japan is an established behemoth of automation which suits its economy and industrial structure. The growing sizes and changing industrial structure is also benefiting the market. For example, mini steel plants have increasingly utilized automation to drive the market in its favor by integrating the disoriented manufacturing process generally equipped with large plants.
The Middle East and Africa market are led by nations such as Saudi Arabia, UAE, and others. Africa is expected to result in moderate growth due to the weak economy and smaller industrial base. The weak volume of sales of many African nations and lower qualified workforce also do not favor automation.
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Intended Audience
- Process Automation and Instrumentation Manufacturers
- Industrial Robot Manufacturers
- MES (Manufacturing Execution System) and MOM (Manufacturing Operations Management) Players
- System Integrators
- Government Organizations
- Research/Consultancy firms
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