Table of Contents
Industrial and specifically factory automation is the use of different control systems, software and other technologies for automation of the factory. The day to day technological advancements are helping the manufacturing process and other such tasks perform a lot faster and cost effective. The use of these technologies increases productivity, quality, almost negates wastage, faster interaction with different departments within the company and other such perks. The biggest market for this industry exists in china which is the primary hub of global manufacturing industry. China for example accounts for more than 60% of Siemens control systems manufacturing currently. The need for automation is due to the growing need for better quality products with increased production rates and also to reduce the labor costs.
Control systems have the largest market in factories with M2M interaction making the process completely automated. Software’s like ERP gives business management solutions, PAC aids with M2M interaction in control systems. Sensors help in differentiating, error control and production management
The global process automation market revenue is expected to grow from $87.67 billion in 2013, to $119.29 billion in 2018, at an estimated CAGR of 6.4% from 2013 to 2018. Also, the process instrumentation market is expected to grow from $23.67 billion in 2013, to $31.71 billion in 2018, with a CAGR of 6%.
The instrumentation market is governed by the major players like:
Emerson Electric Co. (U.S.),
Yokogawa Electric Corporation, Inc. (Japan)
Endress+Hauser (Switzerland), among others.
The APAC region is expected to rejuvenate the process automation market owing to the escalated demands from the oil and gas extraction, waste water treatment, and pharmaceutical verticals.
Innovative products and services are gradually capturing the Industrial Automation market. Companies such as Sick AG are offering better miniature sensors to which are affordable and productive. Siemens who already have strong market in Asia are increasing production due to demand for automation in emerging countries like India.
The report is segmented based product types, end use verticals and geographic regions. The market share analysis, strategies and future opportunities are also discussed in the report. The service market has been aiding the market in earning significant revenues apart from the hardware and software sales, with an augmented segment of the end-users, preferring the maintenance and outsourcing services instead of the in-house purchase and the subsequent maintenance.
Please note: this report requires certain updates. We have all the information available but require 2 business days to complete the process and ensure it is as up-to-date as possible.
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