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New study: Global industrial automation market forecast to 2024

New study: Global industrial automation market forecast to 2024

New industry report "Global Industrial Automation Market" added by Data Bridge Market Research, accounted to USD 192.8 billion in 2016 growing at a CAGR of 7.2% during the forecast period of 2017 to 2024.

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Market Definition:

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 latest trend in this market are increased in usage of robots in industries, untapped regions like Asia Pacific shows growth opportunity for the market, recent technological developments in industrial automation will grow the market further.

There is need of Industrial automation for several industries like Automotive and Transportation, Metals and Mining, Energy and Power System, Chemical, Material, and Food, Measurement and Instrumentation, Environment and Building Technologies, Heavy Industries, Oil and Gas, Pulp and Paper, and Hydro Power will create a huge market for the industrial automation.

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New report "Global Industrial Automation Market" accounted to USD 192.8 billion in 2016 growing at a CAGR of 7.2% during the forecast period of 2017 to 2024.

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The upcoming market report contains data for historic years 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.

Global Industrial Automation Market By Automation type (Distributed Control System (DCS), Programmable Logic Control Systems (PLC), Machine Vision Systems, Manufacturing Execution Systems (MES), Human Machine Interface (HMI), Supervisory Control and Data Acquisition (SCADA), Product Lifecycle Management (PLM), Plant Asset Management, Computer Numerical Control (CNC) Routers, and Electronic Control Units (ECU)) By Application (Automotive and Transportation, Metals and Mining, Energy and Power System, Chemical, Material, and Food, Measurement and Instrumentation, Environment and Building Technologies, Heavy Industries, Oil and Gas, Pulp and Paper, and Hydro Power) By Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Industry Trends and Forecast to 2024

Global Industrial Automation Market: Key Points

 

Some of the major players operating in industrial automation market are ABB Ltd, Adept Technology, Bosch, Honeywell Solutions, Emerson Electric, Schneider Electric, Mitsubishi Electric, Yaskawa Electric,Kuka, Nextnine Ltd, General Electric Company, Yokogawa Electric Corporation, Voith GmbH., and FANUC Corporation among others. In 2017, ABB acquired B&R, a major player in machine and automation.

This will help the ABB to strengthen its position in market.

Global Industrial Automation Market: Segmentation

On the basis of automation type the industrial automation market is segmented into Distributed Control System (DCS), Programmable Logic Control Systems (PLC), Machine Vision Systems, Manufacturing Execution Systems (MES), Human Machine Interface (HMI), Supervisory Control and Data Acquisition (SCADA), Product Lifecycle Management (PLM), Plant Asset Management, Computer Numerical Control (CNC) Routers, and Electronic Control Units (ECU). The SCADA market is expected to grow in the forecasted period.

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On the basis of application the industrial automation market is segmented into Automotive and Transportation, Metals and Mining, Energy and Power System, Chemical, Material, and Food, Measurement and Instrumentation, Environment and Building Technologies, Heavy Industries, Oil and Gas, Pulp and Paper, and Hydro Power. The Environment and Building Technologies market is expected to grow in the forecasted period.

Global Industrial Automation Market: Competitive Analysis

Industrial Automation Market is highly fragmented and is based on new product launches and clinical results of products. Hence the major players have used various strategies such as new product launches, clinical trials, market initiatives, high expense on research and development, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market.

The report includes market shares of flow cytometry market for global, Europe, North America, Asia Pacific and South America.

Read more about the Global Industrial Automation Market [email protected] databridgemarketresearch.com/repor…utomation-market/

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