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Opportunity Analysis in European Industrial Automation Services Market : Increasing Product Commoditisation and Intensifying Market Competition Will Spur Service Investments

  • February 2015
  • -
  • Frost & Sullivan
  • -
  • 60 pages

Summary

Table of Contents

Key Findings

The market for electric industrial automation services in Europe generated $ x billion revenue in 2013 and is poised for a compound annual growth rate (CAGR) of x % from 2013 to 2018.
The demand for asset optimisation in process industries such as oil and gas and power generation is expected to boost revenue generation in the industrial automation service domain.
A high adoption of advanced and value-added services is seen in regions with large process industry footprints.
The growing market potential for third-party service providers will have a strong effect on service pricing during the forecast period.

Growing emphasis on improved asset utilisation instigates investments in services

The strong economic headwinds in Europe necessitate end users across most industrial sectors to enhance productivity. In this regard, improving asset utilisation has been a major pursuit for end users to achieve high productivity. Consequently, this has accelerated service investments in the industrial automation space.
Preventive maintenance, predictive maintenance, and reliability-centred maintenance are the areas that are receiving high focus with regard to investments. Additionally, investments in retrofit services are expected to drive service growth during the forecast period.

Global woes on optimising energy usage increase services requirements

Energy optimisation is a growing concern for most end users in the process environment. Fluctuations in the global energy market has created a need for process industries to analyse energy consumption associated with operational processes. Such an analysis is made an intrinsic part of a well-formulated service strategy, which is further evaluated to discover areas where energy usage can be optimised and overall energy costs can be minimised. Energy efficiency services aligned with process automation, primarily SCADA applications, are expected to witness strong growth during the forecast period.

Strong focus on OPEX optimisation steers service growth

As most of global greenfield investments have shifted towards emerging markets of APAC and Latin America, majority of the industrial investments in Europe are heavily focussed on brownfield installations.
Retrofit projects typically involve a considerable portion of services in the form of extensions and upgrades. This trend is further bolstered by end users who are keen on optimising OPEX investments. This is likely to support service investments across critical infrastructure industries during the forecast period.

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