Modular Automation & Services Market: Introduction
- Modular automation is a technology that enables the plug & produce concept, wherein a production cell is designed in modules. These modules have local automation and they can be operated fully autonomously.
- The process automation is based on several intelligent modules that are organized by a modular-enabled process control system. The system controls the production flow between modules by controlling the service in the intelligent module and interlocking module services against each other.
- Module design and orchestration design are major tools of modular automation. Module design allows design of automation for intelligent modules, while orchestration design helps maintain a library of modular type packages (MTPs), which can later be configured by using a drag & drop approach and connecting the necessary links between each of the modules.
- The modular type package is a standardized description of the XML file defining the module in its automation aspects to the orchestration, such as the service providing module, communication, human machine interface (HMI) description, and maintenance information
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Key Drivers of Global Modular Automation & Services Market
- Modular automation and services witness high demand in the global industrial sector. Modular automation helps the process control system trigger the overall production process; collect the feedback of services; handle the information; and give commands for each process module. This helps increase the rate of production with high precision and zero defects.
- However, high initial investments can act as a restraining factor for the global modular automation & services market during the forecast period
- On June 29, 2018, Modular Automation started assessing the capabilities of the Meca500 industrial robot arm at its technology center to manufacture a small and ultra-compact version of the same. The new, ultra-compact, six-axis robot arm can fit in the palm and is more than twice smaller than other small industrial robots. It is equipped with zero-backlash speed reducers and high-resolution encoders that boast a repeatability of 0.005 mm, which makes the robot arm perfect for use in precision-based applications. Moreover, it weighs just 4.5 kilograms, as each of its structural components have been precision machined and assembled from aluminum.
Europe to Hold a Major Share of Global Modular Automation & Services Market
- Based on region, the global modular automation & services market can be segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Europe is anticipated to dominate the global modular automation & services market during the forecast period, as the region has a well-established and developed industrial sector. The region largely focuses on process automation, operational technology, and research and development activities.
- Moreover, the region has high labor costs, owing to which a high level of automation is required
- North America is anticipated to account for a considerable share of the global modular automation & services market during the forecast period. This region also has a well-established industrial sector.
- Asia Pacific is anticipated to be a highly attractive market for modular automation & services in the next few years. Investments in the industrial sector in the region are rising at a rapid pace. Countries in the region such as China, Japan, and India are among hubs for various products and industrial processes. India and China has the maximum potential for technologically automatable employment, wherein the technology is at a stage of development and it is a feasible substitute for a specific job.
- The modular automation & services market in Middle East & Africa and Latin America is estimated to expand at a significant pace during the forecast period, owing to increasing investments in industrial development and automation, especially in oil & gas and automobile sectors in these regions
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Key Players in Global Modular Automation & Services Market
- Modular Automation
- Mitsubishi Electric Corporation
- Festo Corporation
- TUNKERS Maschinenbau GmbH
Global Modular Automation & Services Market: Research Scope
Global Modular Automation & Services Market, by Application
- Food & Beverages
- Printing & Packaging
Global Modular Automation & Services Market, by Service
Global Modular Automation & Services Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- Rest of Middle East & Africa
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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