Growing Demand for Smart Factories to Drive the Global Industrial Automation Control Market Through 2020, Says Technavio
By Business Wire News
By Business Wire News
The global industrial automation control market is expected grow at a CAGR of approximately 8% during the period 2016-2020, according to Technavio’s latest report.
In this report, Technavio covers the market outlook and growth prospects of the globalindustrial automation controlmarketfor 2016-2020. The market is further categorized into two end-user segments namely discrete industries and process industries. The discrete industries such as automotive, electric power, electronics, and semiconductor accounted for approximately 33% of the market in 2015, whereas the process industries accounted for the remainder of the market share.
“The high adoption of the industrial automation control system in process industries such as the oil and gas, chemical and petrochemical, and food and beverages industries is contributing to market growth. The companies using industrial automation solutions have better control and visibility of the entire production plant which enables the plant operators to negate operational errors and lower the scope of human intervention,” says Bharath Kanniappan, a lead automation research expert from Technavio.
Technavio’s research study segments the global industrial automation control market into the following regions:
APAC:fastest growing region for industrial automation control market
The industrial automation control market in APAC is expected to exceed USD 37 billion by 2020, growing at a CAGR of almost 9%. In emerging economies, such as India and China, the demand for automobiles, oil and gas, and power is increasing due to rapid urbanization and industrialization. This rise in demand has made APAC the fastest growing region for industrial automation control market.
In 2014, India topped the list of investors in the power industry with USD 780 billion worth of live projects, followed by China and Vietnam. The power generation projects taken up after the global recession (along with the initiation of large-scale Greenfield projects) have also driven demand for industrial automation control market solutions such as distributed control system (DCS) and programmable logic controller (PLC).
The number of end-users and the need for plant optimization is rapidly rising, creating vast opportunities for market growth. Therefore, Technavio predicts that growing investment in the power industry and chemicals and petrochemicals industry will drive the industrial automation control market in APAC.
Ask for a sample of this report: http://goo.gl/ruqYth
Americas: need for increased productivity and efficiency to boost growth of the market
The industrial automation control market in the Americas is expected to reach USD 25 billion by 2020 growing at a CAGR of over 6%. The Americas has many oil and gas companies such as American Shoreline, Anadarko Petroleum Corporation, Apache Corporation, and Barnwell Industries which are engaged in oil and gas exploration, along with developing and selling natural gas and petroleum products. These companies are pursuing plans to increase their productivity and efficiency and upgrade their systems, processes, and technology.
In the US, the food and beverage industry is not only concerned about sustainable production, transport, and packaging but also about extending competitive pricing and offers to the customers. This can be achieved with automation solutions such as DCS which will help the manufacturers meet the demand for high-quality products at low prices.
EMEA: automation in automotive industry to propel market growth
The industrial automation control market in EMEA is expected to reach USD 33 billion by 2020, growing at a CAGR of over 7%. In 2015, the European Union announced a stimulus package of USD 1.1 trillion as part of the quantitative easing program. “This program was initiated to propel a stagnant European economy. As part of this initiative the industries in the region will increase investments towards modernizing the existing plants,” says Bharath.
In 2014, Germany was one of the largest automotive industries in Europe and had reported a turnover of USD 510 billion. The production facilities find high adoption of PLCs in their plant. For example, Volkswagen had invested more than USD 90 million in developing innovative new models focusing on the deployment of electric drives, efficient vehicles, drives and more environment-friendly vehicles. It is expected that Volkswagen will invest USD 107 billion over the next five years, which will further boost the industrial automation control market in Europe.
Some of the top vendors in the global industrial automation control market highlighted in the report are:
Browse Related Reports:
- Global Industrial Automation Services Market 2015-2019
- Global Building Automation and Control Systems Market 2015-2019
- Global Industrial Automation Market in Food and Beverage Industry 2015-2019
Purchase these three reports for the price of one by becoming a Technavio subscriber. Subscribing to Technavio’s reports allows you to download any three reports per month for the price of one. Contact email@example.com with your requirements and a link to our subscription platform.
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our media team at firstname.lastname@example.org.
Media & Marketing Executive
US: +1 630 333 9501
UK: +44 208 123 1770