- Automation Market in China to grow at a CAGR of 16.05 percent during the period 2012-2016
According to the latest research findings by the independent London-based global research firm TechNavio, 60 percent of net sales in the Automation Market in China are from products. The analysis is for the forecast period 2012-2016.
As per research analysis, revenue generation through sale of products includes the hardware components and the software used in the automation of a manufacturing unit. The equipment that fall under the products segment are display control and automation, drives, motion control, motion control and sensors, actuators, and other equipment.
The services segment on the other hand includes the installation, maintenance and repairs, and customized integration of the automation products, which is generating revenue of about 40 percent of this market.
In a highly competitive business environment, companies are optimizing their overall business operations for developing superior quality products in minimal time. In this regard, the effective deployment of automation equipment and software is enabling organizations to enhance their overall efficiency. Hence, several companies across industries are increasingly adopting automation equipment and software to optimize their plant operations, leading to the development of superior quality products in minimal time. Automation equipment and software are now being widely adopted by companies across various industries such as Chemicals, Petrochemicals, Power, and Metallurgy.
Speaking on this occasion, one of the senior analysts and co-author of this report said, “Based on the type of application, the Automation Market in China is divided into six segments namely: display control and communication, drives, motion control, instruments and sensors, actuators and other automation equipment. In 2012, the drives segment was the leading revenue contributor to the automation market in China, accounting for a 24 percent share of the market revenue and this will continue to drive the growth of this market till 2016 growing marginally; followed by the actuators segment and the display control and communication segment.”
To determine the scenario for these vendors in the next 3-4 years, TechNavio analysts have conducted in-depth analysis of the impact of market drivers, challenges and trends featuring data on product segmentations, vendor shares, growth rate by revenue and an evaluation of the different buying criteria in order of importance.
If you are interested in more information on this topic and our upcoming research on the Automation Market in China 2012-2016 please send an e-mail to media@TechNavio.com.
About TechNavio
TechNavio is a leading technology research and advisory company with a global coverage. We focus on emerging technology trends that can shape the market. We identify and explain these trends to our customers to help them take better decisions.
TechNavio models the trends using a mix of quantitative and qualitative tools in its proprietary research methodologies. We build forecasts across market segments and geographies based on the trends identified. These forecasts and analysis are used to help our customers identify new and existing opportunities in their markets. We also help customers assess their competitive position in a changing market scenario.
TechNavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape of the Automation Market in China. Our analysts obtain the information using a combination of the bottom-up and top-down approaches, besides using in-house market modeling tools. 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.
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