Technology which allows the monotonous work done by humans in several industries to be replaced by machinery is known as industrial automation. This work includes computing or control units, several sensors, and actuators. Growing demand for consumable and non-consumable goods is encouraging businesses to adopt industrial automation to increase production yield and productivity in its business. Industrial automation mostly employs robotic equipment to complete the tedious work; for instance as logistic, assembling, and fabrication. This robotic equipment perform work on at a faster rate and with accuracy.
The industrial automation market is developing because of the increased use of robotics equipment in industrial works. Moreover, the companies are focusing on the short work time with accuracy thereby driving the market for industrial automation technology. However, the development of industrial automation technology increases unemployment rate in any country by replacing the humans by machines. This concept is somewhat hampering the growth of the industrial automation market. Moreover, most small and medium enterprises are unaware of the industrial automation concept which refrains them for adoption this technology into their business processes. Also, huge capital investment is required for setting up equipment needed for industrial automation as compared to conventional methods of manufacturing. The manufacturers of industrial automation have huge growth opportunity from the emerging economies such as India, China, Taiwan, Indonesia, and Brazil because of the increasing labor costs.
Market Classification and Overview
The market for industrial automation is segmented by component, end-use industry and geography. By component, the market is segmented into industrial networks, industrial robots, machine vision, control valves, control devices, field instruments, enclosures, and cables. The market for industrial automation was dominated by machine vision component and is also projected to register the highest growth in coming years owing to the rapid acceptance of machine vision technology for process control, automatic inspection, and robotic guidance across several end-use industries. The machine vision technology is likely to witness maximum growth in Asia-Pacific due to the rapid surge of industrial sector in India and China. Also, the presence of manufacturing plants of several key players in the region is expected to grow the demand towards China and India. Based on end-use industry, the market for industrial automation can be segmented into process and discrete industry. Oil & gas, chemicals, paper & pulp, mining & metals, food & beverages, petrochemicals, and electric power generation falls under process industry. Automotive & transportation, machine manufacturing, electrical & electronics, and aerospace & defense are the sub segments of discrete industry.
Based on region, the market for industrial automation is segmented into North America, Asia-Pacific, Europe, Middle East & Africa (MEA), and Latin America. Asia-Pacific is the largest and fastest growing region in industrial automation followed by Europe and North America. This is mainly due the increasing demand from food & beverages, mining & metals, petrochemicals, and chemicals industry in Asia-Pacific. China was analyzed to be the largest market for industrial automation whereas, India is projected to be the highest growing market for industrial automation in the region.
Global Industrial Automation Market
2014 – 2024
2014 – 2015
2017 – 2024
Component, End Use Industry, Geography
North America, Europe, Asia-Pacific, Latin America, Middle East and Africa (MEA)
Market Trends, Drivers, Restraints, Porter's Five Forces Analysis, Competitive Analysis,
Player Profiling, Value Chain Analysis
Key players operating in the global industrial automation market adopted strategies such as merger and acquisition, expansion, new product launches, and agreements to meet the growing demand from the end-use industries such as paper & pulp, mining & metals, and so on. industrial automation manufacturers are mainly focusing on new product launches to cater to the growing demand in the market. The key players such as GE, Toshiba International, Mitsubishi Heavy Industry, Schneider Electric, Yokogawa Electric, and Hitachi Group dominate the market space.
Market by Component
· Industrial networks
· Industrial robots
· Machine vision
· Control valves
· Control devices
· Field instruments
Market by End Use Industry
· Process industry
o Oil & gas
o Paper & pulp
o Mining & metals
o Food & beverages
o Electric power generation
· Discrete industry
o Automotive & transportation
o Machine manufacturing
o Electrical & electronics
o Aerospace & defense
Market by Geography
· North America
o Rest of Europe
o Rest of Asia-Pacific
· Latin America
o Rest of Latin America
· Middle East and Africa (MEA)
o South Africa
o Saudi Arabia
o Rest of MEA
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