The scope of the report is limited to the type of solution, components, communication protocols, and end-user applications.
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Industrial control for process automation market is expected to register a CAGR of 7.24% during the forecast period of 2018-2023.
The regions considered in the scope of the report include - North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
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Key Leading Major Companies Mentioned:
ABB Ltd, Schneider Electric, Honeywell International Inc., Siemens AG, Rockwell Automation, Omron Co., Emerson Electric Co., General Electric Co., Yokogawa Electric Co., Mitsubishi Electric Corporation, Johnson Controls, Inc., Danaher Corporation
Industrial control network is used to examine and control physical equipment in the industrial environments.
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Increasing industrial automation, rise in infrastructure investments and rise in safety and security concerns are a few factors driving the market, while high capital investment and lack of skilled labor is hindering the market growth.
Rise in Infrastructure Investments
The industrial control systems have reached the saturation level in established regions, such as Europe and North America. The strongest growth opportunity lies in the emerging economies.
Industrial control system is used to examine and control physical equipment in the industrial environments. With increasing investments in infrastructure, the need to monitor the equipment has increased.
The companies are investing in roads, rails, air-related infrastructure, inland waterways, and sea related infrastructure. Industrial control systems in countries, such as China, are on upswing along with other emerging economies globally owing to increased investments in infrastructure.
Moreover, the vision of fully automating the industry is driving the growth of this market.
An articulated robot is a robotic arm that uses rotary joints to execute accurate movements constantly and steadily. Articulated robots are being increasingly used in the manufacturing sector for different applications, such as, assembling, spraying, cutting, welding, dispensing, painting, material handling, and sealing.
These robots offer greater degrees of freedom than any other robots. They provide the manufacturer with additional versatility, thereby, make them more attractive.
These robots capable of enhancing the company’s productivity through improved accuracy and speed, thus, enhancing quality of the product being produced. Many industries are further deploying these robots to automate processes, adding to the demand for these systems.
These robots are widely used in the automotive industry, as they are more reliable and cost-effective when compared to others. Inclination towards application-specific robots and the need for efficient operation in assembly lines are the growth factors that are making the articulated robot segment lucrative in the coming future.
Key Developments in the Market
Mar 2018 - ABB “Ability Performance Optimization” for hoists is incorporated into the new ABB “Ability Collaborative Operations”. It applies automatic data gathering and analysis to expedite identification of issues to address that improve performance
Sept 2017 - Honeywell announced the introduction of its Experion® Local Control Network (LCN) solution. With Experion LCN, existing control strategy, field terminations, applications, history and graphics can be retained, allowing users to focus on high value improvements
Reasons to Access this Report
Current and future industrial control for process automation market outlook in the developed and emerging markets
Analyzing various perspectives of the market with the help of Porter’s five forces analysis.
The segment that is expected to dominate the market
Regions that are expected to witness fastest growth during the forecast period
Latest developments, market shares, and strategies employed by the major market players
3-month analyst support, along with the Market Estimate sheet (in Excel)
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