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Rapid adoption of automation by industries leads to the growth of industrial automation market

Press release July 22, 2014 Industrial automation market, industrial automation industry, industrial automation market size

The Global Industrial Automation market in the Automotive industry can be divided into seven segments: DCS, MES, Industrial Robotics , Industrial Sensors, PLC, PLM, and SCADA.

The recent surge in the number of manufacturing activities being outsourced, especially to various Asian countries, including Japan and India, has acted as one of the major drivers for the industrial automation market. Furthermore, various technological innovations and the increased demand for process control systems have also acted to its advantage, where it is estimated to reach a CAGR of 6.08% from 2014 to 2020. Moreover, the other key factors that have increased the popularity of these automated processes, especially in the automotive sector, are energy efficiency, reduced engineering time, optimal asset utilization and cost efficiency. Currently, the industrial automation sector includes seven major kinds like industrial robotics, DCS, PLC, SCADA, MES and industrial sensors. Since automation is mostly demanded in the automotive sector for its cost efficiency and increased productivity capabilities, it’s been forecasted that the industrial automation market in the same will grow at a CAGR of 8.25% in the period from 2013 to 2018.

This report: Global Industrial Automation Market in the Automotive Industry 2014-2018, provides a market overview of the global industrial automation sector with its key focus on its contribution towards the automotive market. The report also highlights its market domination in the APAC, EMEA and Americas region.

Major drivers of the market

The need to optimize the overall operational cost for end-users is acting as one of the major drivers for the industrial automation industry. Only when there is effective deployment of automation services can the key companies of the automobile sector take advantage of provider’s expertise to lessen their overall plant maintenance and project operating costs. Moreover, with the high degree of market consolidation, limited new entrants, diverse customer bases, limited capacity additions by most industrial players, and strong price discipline existing in major regions of the world, the margin enjoyed by most automation vendors is sustainable, leading to growth and rapid adoption by various sectors.

Market challenges

In spite of the demand being strong for automation equipment for various manufacturing processes, especially in the automotive sector, one of the major challenges that the key vendors regularly face is the high initial investment required for these automation processes. The end users usually have to invest heavily to deploy the latest automation solution technology and various automation services in order to improvise on their productivity and optimize their overall operational costs. Furthermore, the lack of proper integration in various automobile manufacturing plants has also severely affected operational excellence improvements, leading to countries actually focusing more on the integration aspect of these services and processes, especially now when the current levels of adoption is high among all market players.

Market overview

The industrial automation market size is poised for a steady growth, especially due to the increased demand from the automobile processing centers. Furthermore, the need for improved decision-making systems and growing demand from the emerging economies has also created growth opportunities for the sector. Since the globalized environment requires manufacturers and other industrial operatives to address various initiatives for cost savings and reduce its energy consumption, implementing these automation processes, and services actually help in addressing the key vendors of the automobile sector’s need for safety as well as sustainability, thereby leading to the growth of the industrial automation industry.

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Visit: Rapid adoption of automation by industries leads to the growth of industrial automation market

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Industrial automation market, industrial automation industry, industrial automation market size