The industrial controls and robotics market is extensively fragmented due to the presence of numerous regional and global companies, states Transparency Market Research (TMR) in a research report. The rivalry among players is likely to intensify owing to less product differentiation and a low degree of entry barriers for new players. Furthermore, the competition among leading players is likely to increase as companies fight to acquire the leading share and gain a strong hold on the market. Vendors are entering into strategic alliances, mergers, and acquisitions to achieve this.
The leading companies operating in the global industrial controls and robotics market include ABB Ltd., Siemens AG, Emerson Electric Corporation, Omron Corporation, Invensys PLC, Honeywell Inc., Yokogawa Corp., Rockwell Automation, Fanuc Corp., and Schneider Electric Corp.
The global industrial controls and robotics market stood at US$118.53 bn in 2015 and is projected to touch US$147.77 bn by the end of 2019. The automotive industry emerged as the leading application segment and is likely to retain its lead until 2019. The market for industrial controls and robotics in the automotive sector is estimated to rise to US$24.27 bn by 2019. The growing need to ensure quick completion of automation processes such as welding, cleaning, and joining is expected to boost the installation of industrial controls and robots in the automotive sector. Automation and robotic techniques are also deployed for processes such as motion, fluid, and pneumatics control in the automotive industry.
Asia Pacific to Surge Ahead Owing to Growing Demand from End-use Industries
Region-wise, Asia Pacific dominated the global industrial controls and robotics market in 2013 and is likely to maintain a lead until 2019. The market for industrial controls and robotics in Asia Pacific is expected to rise to a valuation of US$50.55 bn by 2019, accounting for a share of 34.2% that year. According to a TMR analyst, “The growth of the industrial controls and robotics market can be attributed to the growing application of these controls in industries such as printing, textile, packaging, food, and automotive.” Furthermore, rising investments from the power sector towards the deployment of industrial controls and robots is expected to drive market growth.
Lower Variable Cost and High Productivity to Bode Well for Market Growth
The main factor on which the manufacturing industry is dependent on is the need to maintain the quality of products in competitive manufacturing cost, precision, and consistency. Industrial robotics and automation are capable of accomplishing these results consistently due to fast pace and enhanced efficiency. Moreover, the cost of quality control and cost incurred due to human error can be effectively minimized by deploying industrial controls and robots. The rising need to decrease turnaround time, coupled with the requirement to enhance the performance of hazardous tasks with less or no manual involvement, is likely to further boost the installation of industrial controls and robotics over the forthcoming years.
High Initial Cost to Act as Hindrance
The initial cost of installing industrial robots and controls is extensively high with all its equipment. The cost of deployment of controls and robots varies according to the number of robots being installed, complexity, and quality. Moreover, factors such as accessibility of labor at a low cost in developing countries and the need for skilled workers to operate robots are likely to restrain the growth of the global industrial controls and robotics market over the forecast period. However, manufacturers can gain from the empowerment of small and medium scale enterprises in developing countries.
This review is based on a Transparency Market Research report, titled, “Industrial Controls and Robotics Market - Global Industry Size, Market Share, Trends, Analysis and Forecast 2013-2019.”
Industrial controls and robotics market analysis, by type
- Industrial Control systems
- Field Devices
- Relay & Switches
- Motion Control & Drives Systems
- Machine Vision systems
- Manufacturing Execution Systems
Industrial controls and robotics market analysis, by application
- Printing and Packaging
- Oil & Gas
- Food Processing
Industrial controls and robotics market analysis, by technology
- Motion Control and Drives Systems
- Robotics Systems
- Integrated Manufacturing Systems
- Machine Vision Systems
- Manufacturing Execution Systems
- Programmable Logic Control System
Industrial controls and robotics market by Geography
The different geographies covered under this research study is defined as follows:
- North America
- South America
- Rest of Europe
- South Korea
- Rest of the World
- Middle East
- North America
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