Global Industrial Automation Market: Overview
Industrial automation refers to application of various control systems to operate equipment in factoris or other manufacturing units. Today, industrial automation is used for operating several factories, machinery, heat treating boilers and ovens, steering and ship stabilization, switching on telecom networks, aircrafts and related applications, and automotive assemblies. Over several years and with incredible investment in research and development, the global industrial automation market has evolved to reduce the burden of labor on humans. According to the research report, the global industrial automation market is anticipated to reach a valuation of US$352.02 bn by the end of 2024 from US$182.64 bn in 2015. Between the forecast years of 2016 and 2024, the global market is expected to expand at a CAGR of 6.6%.
Reduced Time and Cost Spell Positive Outlook for Industrial Automation Technologies
Several advantages of industrial automation have been its driving force in the global market. The market is also being fueled by the growing demand for industrial systems and technologies that lighten the load on of human interference and ensure operational efficiency. The biggest advantage of industrial automation technologies is that they reduce time and over persistent usage cut down manufacturing costs as well. Several industries are installing industrial automation as it promises reduction of human error. Additionally, the market is also expected to have soaring revenues in the coming years due to the flexibility these technologies offer. For instance, factory managers can change manufacturing schedule rapidly in response to the seasonal fluctuations.
The various industrial automation technologies available in the global market are distributed control system (DCS), programmable logic control system (PLC), machine vision system, manufacturing execution system (MES), human machine interface (HMI), supervisory control and data acquisition (SCADA), product lifecycle management (PLM), plant asset management, computer numerical control (CNC) routers, electronic control units (ECU), and other automation types including safety system, variable frequency drive and operating training simulator. Of these, the PLM segment held the dominant share in the global market in 2015 and is expected to retain its stance in the coming years as well. As emerging nations show inclination toward manufacturing the demand for these technologies is projected to remain high in the coming years.
Measurement and Instrumentation puts Asia Pacific at Forefront of Global Market
In terms of geography, the global market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and South America. Of all these regions, Europe held the giant share in the overall market in 2014. The region accounted for 51% of the overall market in 2014, followed by Asia Pacific. Analysts anticipate this trend to continue over the coming years.
On the other hand, Asia Pacific is also projected to offer several opportunities to the industrial automation market, especially in the measurement and instrumentation, and pulp and paper segments. Currently, the largest industrial automation market lies in Germany, a nation that is anticipated to maintain the leading position during the forecast period. The demand for industrial automations is forecast to rise rapidly in the Asia Pacific and the Europe regions.
The global industrial automation market is extremely fragmented due to the presence of several players in the global market. Some of the leading players operating in the global market are ABB Ltd., FANUC Corporation, Honeywell International Inc., Toshiba Machine Corporation Ltd., Yokogawa Electric Corporation, Emerson Electric Company, General Electric Company, Yaskawa Electric Corporation, Rockwell Automation, Inc., Mitsubishi Electric Corporation, and Voith GmbH.
Global Industrial Automation Market: Overview
Industrial automation is defined as the amalgamation of all machinery, processing systems, test facilities and factories which became automated because of great technological progress. The global market is poised to grow at a substantial rate during the forecast period because of the growing economy across the globe.
Global Industrial Automation Market: Drivers and Trends
The strong growth in the CNC technology segment is driving the global growth of the industrial automation market, especially in the Asia Pacific and Europe region. Industrial automated products are manufactured in large varieties, each differing from another based on automation type, instrumentation, flow computers, analyzers, operation, and geography. The industrial automation market has been globally emerging to be a relatively more attractive space for investment by organizations across the world. The usage of robots in industrial controller mechanisms is an established trend. Thus it paves the way for larger adoption of the industrial control and industrial automation equipment. In spite of this, the development of the global industrial automation market is affected with massive threats in some regions all over the world, considering the fact that the method caters to human labor replacement with machines and computers.
Global Industrial Automation Market: Restraints
The decreasing human interface in many of the processes is resulting in loss of jobs in many of the industries which in turn is hindering the growing adoption of industrial adoption systems. However, with several innovative studies revealing the ability of industrial automation to generate jobs in the other ancillary segments, such as after-sales services, automation system installation, and software development for the management of industrial automation, some concerns are dispelled.
Global Industrial Automation Market: Opportunities
The largely used parts in this market are actuators, proximity sensors, flow meters, servo and DC motors, industrial communication systems, and robotic arms. Escalating frequency of factories is moving ahead along the automation path, and the incidence of automation devices such as PLCs, PCs, and PACs will become even more common in the coming years. While the opportunities for industrial automation branched from the developed economies of the west, it is presently taking industrial units of the Asia and South America regions by storm. Factor owners look out for factors such as quicker response time and faster output when they invest in factory automation.
Global Industrial Automation Market: Segmentation
On the basis of various automation types, the global industrial automation market is segmented into distributed control system (DCS), programmable logic control system (PLC), machine vision system, manufacturing execution system (MES), human machine interface (HMI), supervisory control and data acquisition (SCADA), product lifecycle management (PLM), plant asset management, computer numerical control (CNC) routers, electronic control units (ECU),and other types. Among the automation type segments, the PLM segment constituted the biggest market share, followed by MES, in 2014. On the basis of end use industries, the global industrial automation market is segmented into automation and transportation, metals and mining, oil and gas, pulp and paper, hydro power, energy and power system, chemical, material and food, measurement and instrumentation. There is rapid growth in demand in the environment and building technologies, heavy industries, and other segments. The global market for energy and power systems is one of the major factors that are driving the demand for industrial automation industry, globally.
Global Industrial Automation Market: Regional Outlook
In terms of regions, the global industrial automation market has been segregated into five geographical zones: North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA), andSouth America. Currently, Europe holds the major share of the market, followed by Asia Pacific, North America, Middle East and Africa, and South America. The Asia Pacific region is anticipated to grow swiftly with rise in trade with North America and Europe.
Key Players Mentioned in this Report are:
Key players profiled in this report are ABB Ltd., Honeywell International Inc., FANUC Corporation, Yaskawa Electric Corporation, Toshiba Machine Corporation Ltd., Yokogawa Electric Corporation, Emerson Electric Company, General Electric Company, Rockwell Automation, Inc., Mitsubishi Electric Corporation, and Voith GmbH.
The segments covered in the global Industrial Automation market are as follows:
Global Industrial Automation Market: By Automation Type
- Distributed Control System (DCS)
- Programmable Logic Control System (PLC)
- Machine Vision System
- Manufacturing Execution System (MES)
- Human Machine Interface (HMI)
- Supervisory Control and Data Acquisition (SCADA)
- Product Lifecycle Management (PLM)
- Plant Asset Management
- Computer Numerical Control (CNC) routers
- Electronic Control Units (ECU)
Global Industrial Automation Market: By Industry
- Automation and Transportation
- Metals and Mining
- Oil and Gas
- Pulp and Paper
- Hydro power
- Energy and Power System
- Chemical, Material and Food
- Measurement and Instrumentation
Global Industrial Automation Market: By Geography
- North America
- Rest of Europe
- Asia Pacific
- South East Asia and India
- Rest of Asia Pacific
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of MEA
- South America
- Rest of Latin America