The global industrial automation market is anticipated to grow at a CAGR of around 7.2% over the forecast period 2019 to 2026 and expected to reach around US$ 287.9 Bn by 2026.
The global industrial automation market is set for a paradigm shift as end-user industries step up their investments to focus on increasing plant capacity with modular equipment and digital technologies. With a focus on digital transformation, there is an equal emphasis on improving reliability and efficiency of assets on site. Companies are investing in the industrial internet of things technologies, remote condition monitoring, and diagnostics to address unmet maintenance needs and emphasize predictive maintenance. Data has become the most strategic asset: success depends on how data is utilized. Automation majors have realigned their market strategies to capture opportunities offered by digitization.
The application of advanced automation control systems is one of the critical reasons that will drive the industrial automation market in chemical and petrochemical industry. there is an increase in the need for fast and accurate systems in the process and discrete industries. this is resulting in the emergence of technologically advanced automation control systems. These systems have features such as faster processors and increased memory capacity. they are extensively used to perform complex production processes carried out in the chemical and petrochemical industry. Also, issues such as space limitation and process complexity with conventional PLCs can be overcome with the help of customized PLCs for small, medium, and large machines used in this industry.
By end user, Machine Manufacturing segment is expected to dominate the automation market
Machine Manufacturing segment dominated the market in 2018 and is predicted to witness a gradual growth over the forecast amount. Automation empowers small American businesses to stand toe-to-toe with entrenched rivals around the globe. With greater technical know-how and stronger strategy, these firms can continue to produce quality goods at reasonable costs. End-to-end factory automation will double or even triple production compared to plants that use only a few automation systems. Not only that, but equipment can often be kept running for longer periods of time with comparatively very little impact on the maintenance outlook. This lets companies outperform even rivals with a lot of simpler or low-quality goods.
Based on technology, DCS is expected to dominate during the forecast period
The DCS segment will account for the highest share of the industrial automation market in chemical and petrochemical industry due to the growing adoption of DCS in chemical and petrochemical plants. This is due to their ability to control and monitor process variables such as temperature, pressure, and flow rate through the production process.
The market research study on “Global Industrial Automation Market– Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 – 2026”,offers a detailed insight into the global industrial automation market entailing insights on its different market segments. Market dynamics with drivers, restraints, and opportunities with their impact are provided in the report. The report provides insights into the global industrial automation market, its market type, technology, end user, and major geographic regions. The report covers basic development policies and layouts of technology development processes. Secondly, the report covers global industrial automation market size and volume, and segment markets by market type, technology, end user, and geography along with the information on companies operating in the market. The global industrial automation market analysis is provided for major regional markets including North America, Europe, Asia Pacific, Latin America and Middle East and Africa. For each region, the market size and volume for different segments have been covered under the scope of the report.
In 2018, Asia- Pacific dominated the regional market with a maximum market share
Asia- Pacific accounted for the high market share of the global industrial automation market and the region is also expected to maintain its dominance over the forecast period.Some major factors contributing to this growth are,are due to the economic growth in nations such as India and Indonesia. The growing application areas on a yearly basis. Advancement in technologies along with integration with current manufacturing environment is predicted to stimulate the market growth. Moreover, the presence of manufacturing companies and developing economy of the Asian countries is likely to contribute to the growth of the market throughout the assessment period.
The key companies involved in the market includes Emerson Electric Co., ABB, Siemens, Schneider Electric, Endress Hauser Management AG, Yokogawa India Ltd., Honeywell International Inc., Azbil Corporation, Fuji Electric Co., Ltd, 3D Systems, Inc., HP Development Company, FANUC CORPORATION, Stratasys Ltd., Hitachi, Ltd., and Rockwell Automation, Inc. among others.
Market By Type
Market By Technology
Market By End User
Market By Geography
Middle East & Africa
Industrial automation is the use of control systems for handling different processes and machineries in an industry to replace a human being. It is the second step beyond mechanization in the scope of industrialization.
Fixed automation and programmable automation are two types of industrial automation.
The application of advanced automation control systems is main driver of the industrial automation market.
Machine Manufacturing segment dominated the industrial automation market in 2018.
Asia- Pacific held maximum share in 2018 for industrial automation market.
Emerson Electric Co., ABB, Siemens, Schneider Electric, Endress Hauser Management AG, Yokogawa India Ltd., Honeywell International Inc., Azbil Corporation, Fuji Electric Co., Ltd, and 3D Systems, Inc. are the top players operating in the industrial automation market.