Industrial automation services: Key research findings
- Need to enhance operational productivity
- Growing inclination towards Industrial Internet of Things (IIoT)
Technavio has added a new report on the global industrial automation services market to its industrial automation portfolio. Analysts estimate that the market will grow at a CAGR of around 11% between 2015 and 2019, owing to increased deployment of automation solutions across all industries. All process and discrete industries are speedily integrating automation products such as DCS, PLC, and SCADA in their applications.
EMEA leads the global industrial automation services market with a share of around 38% as of 2014, closely followed by the Americas and APAC. Although EMEA and the Americas contribute to the majority of the market share, APAC is estimated to grow at the fastest rate over the next four years thanks to the high demand for automation services from China.during 2015-2019.
Industrial automation services market in APAC 2014-2019 ($ billions)
Source: Technavio Research
Companies are rapidly implementing latest automation solutions like DCS, which enables distribution of controls in an organization where failure in one control system does not affect other systems, thus encouraging independent equipment operations. Several automation services like consulting, project engineering and installation and training services are gaining prominence in various organizations as these services aid end-users in minimizing their plant maintenance and operational expenses, besides reducing the requirement for additional workforce.
IIoT is an emerging technology connecting machines to the internet by introducing new product insights and intelligence with data crunching software. Demand for such automation technologies is in high demand across industries, which aim at meeting consumer preferences.
“Several APAC nations like Japan, South Korea, India, and China are the major revenue contributors to the industrial automation services market, especially for manufacturing activities. Major businesses in the Americas and EMEA are expanding by outsourcing their operations to APAC, especially India and Japan. Manufacturers are using automation systems in their assembling units to improve their plant operation and conform to international standards,” says Navin Rajendra, Lead Analyst, Engineering and Automation, Technavio Research.
The global industrial automation services market comprises international, regional, and local vendors. The leading vendors dominating the market are ABB, Honeywell, Rockwell Automation and Siemens. Market vendors are offering a broad-range of maintenance and support services such as operational services, optimization services, and logistics services to end-users, to enhance growth across both process and discrete industries.
More detailed analysis is available in the Technavio report, Global Industrial Automation Services Market 2015-2019.
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