Industrial Automation Market: Overview
The industrial automation market is predicted to chart an impressive growth trajectory over the forecast period from 2020 to 2030. The ever-increasing automation of industrial units for higher production capacity is creating opportunities in the industrial automation market.
Industrial automation refers to the use of control systems, such as computers or robots, and information technologies for operations of machineries and for execution of production processes. Broadly, industrial automation is undertaken to replace manual labor by machine power.
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Key parameters based on which the industrial automation market is divided are automation type, industry, and geography.
The report delves into the demand dynamics, trends, and opportunities to provide an exhaustive analysis of the industrial automation market for the 2020 – 2030 forecast period. Furthermore, the report examines key segments along with their growth rate projections for the 2020 – 2030 forecast period. Lastly, the report provides valuable insights into the competitive landscape, including growth strategies and revenue share projections of large players over the above mentioned forecast period.
Industrial Automation Market: Competitive Landscape
The industrial automation market marks the presence of some large players in the fray. Process development and incorporating avant-garde technologies are some key growth strategies of keen players in the industrial automation market. Business alliances and partnerships are some other key growth strategies of large players in the industrial automation market.
Prominent players in the industrial automation market include;
ABB Ltd.
Honeywell International Inc.
FANUC Corporation
Yaskawa Electric Corporation
Toshiba Machine Corporation
Yokogawa Electric Corporation
Emerson Electric Company
General Electric Company
Rockwell Automation Inc.
Mitsubishi Electric Corporation
Industrial Automation Market: Key Trends
In industrial environments, the increasing focus on optimum utilization of resources and need for automation of industrial processes is opening vistas in the industrial automation market. In addition, increasing use of technology along with increased adoption of industrial robots in manufacturing processes is expanding the growth horizon of industrial automation market.
Besides this, increasing role of governments for automation of industrial processes by means of subsidies is fuelling the industrial automation market.
Shift in trend for automation from optimizing productivity and reducing human labor to optimum quality and flexibility in production cycles is adding a new dimension to the industrial automation market. Automation of industrial processes also enables high accuracy of information and high safety. Furthermore, minimal wastage of resources, low energy consumption, and convenient transportation and logistics are favoring the growth of industrial automation market.
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Industrial Automation Market: Regional Assessment
Europe is the leading region among other key regions in the industrial automation market. The region being home to the industrial revolution along with vast initiatives undertaken by governments in the region for automation of industrial processes are some key factors behind the growth of industrial automation market in the region.
North America holds prominence in the overall industrial automation market. Early adoption of technology and engineering expertise for automation of industrial processes accounts for substantial share of the region in the industrial automation market.
Asia Pacific is anticipated to emerge as a key region in the industrial automation market. Economic growth in emerging economies of Asia Pacific is creating opportunities in the industrial automation market of the region. For example, in India, the central government and state governments collaborate with industrial agencies for automation and improvement of industrial processes. The central government and state governments provide subsidies, loans for automation of industrial processes. Such initiatives are expanding the industrial automation market in Asia Pacific.
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