Global Industrial Automation System Market Overview:
Industrial automation refers to the use of the control system for handling different processes and machinery in the industry. By the use of industrial automation the level of safety to personnel is increased by substituting them with the automated machines in hazardous working conditions. Industrial automation also helps in higher production rates and increased productivity, better product quality, shorter workweeks for labors, more efficient use of materials and reduce factory lead time. Industry 4.0 is changing system architecture across all the domains in industrial automation. Increasing usage of machines and rising demand for high-quality products with high volume production in various industries, and increasing installation and adoption of smart devices are the key factors driving the industrial automation market. Increasing demand from process industries and developing economies coupled with the need for better decision making is expected to propel the industrial automation in the forecasted period.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Forecast Period | 2022-2027 |
Historical Period | 2017-2021 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
The shift from Traditional Techniques to Digitalized System and Rise in the Deployment of Robotic Automation Across the Various Industries
Market Growth Drivers:
Emphasis on Industrial Automation and Optimum Utilization of Resources and Government Initiatives towards Adoption of Industrial Automation in Various Industries
Challenges:
Lack of Awareness Regarding the Advantages of Implementing Industrial Automation Especially in Developing Countries and The dearth of Skilled Workforce for preventing Enterprise to go for Full-Scale Adoption of Industrial Automation
Restraints:
High Capital Investment Required for Industrial Automation
Opportunities:
The emergence of Industry 4.0 and Rising Demand for Safety Compliance Automation Solutions
Competitive Landscape:
Some of the key players profiled in the report are Rockwell Automation Inc. (United States), GE (United States), Yokogawa Electric (Japan), Omron Corporation (Japan), Honeywell International Inc. (United States), Siemens (Germany), ABB (Switzerland), Toshiba Corporation (Japan), Emerson Electric Co. (United States), Invensys Limited (United Kingdom), National Instruments (United States), Applied Material Inc. (United States), Beckhoff Automation (Germany), Miracom Inc. (South Korea), Schneider Electric (France), SAP (Germany) and Aspen Technology Inc. (United States). Analyst at AMA Research see United States Players to retain maximum share of Global Industrial Automation System market by 2027. Considering Market by End User Industry, the sub-segment i.e. Chemicals & Mining will boost the Industrial Automation System market. Considering Market by Component , the sub-segment i.e. Relays & Switches will boost the Industrial Automation System market. Considering Market by System Type, the sub-segment i.e. Fixed Automation will boost the Industrial Automation System market. Considering Market by Levels, the sub-segment i.e. Superior Level will boost the Industrial Automation System market. Considering Market by Solution, the sub-segment i.e. Supervisory Control and Data Acquisition (SCADA) will boost the Industrial Automation System market.
Latest Market Insights:
In July 2018, GE and Microsoft Corp. entered into a partnership to bring together operational technology and information technology to eliminate hurdles industrial companies face in advancing digital transformation projects. As part of the union, GE Digital plans to standardize its Predix solutions on Microsoft Azure and will deeply integrate the Predix portfolio with Azure’s native cloud capabilities, including Azure IoT and Azure Data and Analytics. The parties will also co-sell and go-to-market together, offering end customers premier Industrial IoT (IIoT) solutions across verticals. In addition, GE will leverage Microsoft Azure across its business for additional IT workloads and productivity tools, including internal Predix-based deployments, to drive innovation across the company.
What Can be Explored with the Industrial Automation System Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Industrial Automation System Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Industrial Automation System
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Industrial Automation System market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Industrial Automation System market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.