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According to the report added by Progressive Markets, the Global Industrial Automation Market is expected to grow at a considerable CAGR during the forecast period. The report, titled Global Industrial Automation Market- Size, Trend, Share, Opportunity Analysis & Forecast, 2015-2023, is a perfect tool for organizations, both entry-level and established, to gain critical insights about the global industrial automation market size and share and the top impacting factors that influence the dynamics of the market.
Automation is the process of completely or partially eliminating human intervention, by controlling and managing the required operations with the help of advanced technologies. Industrial automation involves the integration of several automated technologies, processing units, systems, procedures, and machinery that result in improved productivity, higher accuracy, consistent quality, and optimal manufacturing costs, thus leading to shorter product cycle and increased revenues.
Extensive research and development in the field of Internet of Things (IoT) and Mobile to Mobile (M2M) communication technology have resulted in the widespread prevalence of automation in manufacturing industry.
Drivers, Restraints, & Opportunities:
The industrial automation market research report provides information about the factors that contribute to the overall growth and development of the market and result in the growth of the industrial automation market size. The robust growth of the market can be attributed to the numerous benefits offered by industrial automation systems over the conventional manual activities.
The remarkable improvement in the rate of production and the consistency in the quality of goods produced, owing to the adoption of these systems, is expected to drive the growth of the industrial automation industry. Another factor that propels the market's growth is the reduced costs of labor and the negligible risk of hazardous materials, thus leading to a safer work environment.
However, the high costs involved in setting up the infrastructure, along with the huge initial investments required, restrict the progress of the market. In addition, the rise in unemployment due to the growth of the factory automation market acts as a major restraining factor.
Industrial Automation Market Key Segments:
The industrial automation market is analyzed across four major segments- technology, type, end-user industry, and geography. The technologies implemented in a successful industrial automation system include Human machine interface (HMI), Programmable logic controller (PLC), Supervisory control and data acquisition (SCADA), Distributed control system (DCS), and Programmable automated controller (PAC).
By type, the market is divided into fixed automation and programmable automation. The end-user industries of industrial automation include energy & power systems, oil & gas, electrical & electronics, food & beverages, and metals & mining among others.
Based on the geographical segmentation, the potential of the industry is analyzed in the regions of North America, LAMEA, Asia-Pacific, and Europe. The report includes the industrial automation market shares analysis (2014-2025) of each of the aforesaid market segments.
The leading players profiled in the industrial automation industry analysis include Yokogawa Electric Corporation, ABB Ltd., Emerson Electric Co., AMETEK Inc., FANUC America Corporation, Mitsubishi Electric Corporation, Rockwell Automation Ltd., Schneider Electric S.E., Siemens AG, and General Electric Company. Information such as the company overview, financials, and business segments, and the recent developments in the market aid in gauging the market competition and enable the entry-level organizations to devise strategic business moves.
Key Benefits of the report:
The industrial automation industry report is a compilation of crucial data acquired by core industry experts and research analysts, by adopting a rigorous research methodology that included primary and secondary research. Detailed tables and figures illustrate the industrial automation market volume based on the regions analyzed in the report.
Quantitative and qualitative analysis of the market highlights the key market factors such as drivers, restraints, and opportunities, and presents a brief overview of the current and emerging industrial automation industry trends.
Porter's Five Forces Model analyzes the impact of market factors such as bargaining power of buyers and suppliers, the threat of substitutes and new entrants, and the intensity of competitive rivalry in the market. The report also includes the industrial automation market industry forecast based on the past market trends.
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