Industrial Automation Services Market: By Service (Professional Service, Consulting, Training), Solution (Distributed Control System, Programmable Logic Controller, SCADA and Others), End User (Automotive, Manufacturing, Energy & Power) – Global Forecast till 2023
Market Highlights:
High demand of operation efficient solution by industries, developing IoT and cloud technology, increasing adoption of automation by industrial manufacturer, and increasing demand of safety compliance automation services are some of the factors driving the growth in industrial automation services market globally. However, lack of technical expertise is expected to hinder the market growth in coming years.
Major factors driving the industrial automation services market include demand for operational efficiency, rapidly growing SMES, emerging technology such as Internet of Things(IoT) and cloud-based automation, growing demand for smart factories, mass customization, supply chain synchronization, integration of systems, advancement in the M2M communication technology. However, factors such as lack of trained professions and high installation and maintenance cost msy slow the market growth.
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Major Key Players
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 are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Industrial Automation Services market.
The global Industrial Automation Services Market is projected to reach USD 55.60 billion at a CAGR of over 10% by the end of the forecast period 2017-2023.
Industry News and Development
February 2018 – CIMTEC Automation LLC, and Epson robots has extended their partnership to extend to scope of selling Epson robots and automated products throughout the South-eastern U.S. Epson has announced CIMTEC as their official East Coast repair and maintenance center.
February 2018 – Altizon, a leading industrial IIOT platform company and EVIO Pvt. Ltd., a global industrial automation engineering service provider, partnership to help their clients in accelerating their IIOT projects. The developing industrial automation market is one of the major factor of compelling leading players to invest in the market.
Competitive Analysis
The market position analysis is derived by considering various factors such as financial position, segmental R&D investment, brand value, product portfolio, strategy analysis, and key innovations in Industrial Automation Services market. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.
Segmentation:
The global industrial automation services market is segmented by service, solution, and end-user. Based on the service, the market is segmented into professional service, consulting, technical training, system integration services, and others. By the solution, the market is segmented into distributed control system, programmable logic controller, SCADA and others. By the end-user, the market is segmented into automotive, manufacturing, transportation and logistics, chemical, material, food, energy and power systems, and others.
Regional Analysis
The global industrial automation services market is studied for Asia Pacific, North America, Europe, and Rest of the World. It has been observed that North American region accounts for the largest share of the market. Asia Pacific is expected to show the highest growth opportunities, prominently, in India and China. Owing to increasing population, manufacturers in the region are using automation systems in their assembling units to improve plant operation and to meet international standards, low cost labor and skilled workforce.
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Intended Audience
- Technology Investors
- Research/Consultancy firms
- Technology Solution Providers
- Government Bodies
- Original Equipment Manufacturers
- Consulting and training service providers
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