This market research report presents a detailed segmentation of the global industrial automation market in life sciences industry by products (DCS, PLC, SCADA, and MES) and by geography (the Americas, APAC, and EMEA). The leading vendors in this marker are ABB, Emerson Electric, Rockwell Automation, and Siemens.
Technavio’s market research analysts estimate the global industrial automation in the life sciences industry to grow at a CAGR of almost 6% between 2016 and 2020. The life sciences industry is always under close scrutiny, leading to rising audit burdens, quality inspections, and fines. There is also the added risk of losing reputation and trust, resulting in low net worth and decreased stakeholder confidence. The need to be in compliance with such regulatory standards is the primary driver for the growth of the market. At present, the Americas dominate the global industrial automation in the life sciences industry, accounting for almost 49% of the net market share. The implementation of automation to meet the time-critical elements of the Federal Drug Quality and Security Act is expected to propel the market in this region over the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the industrial automation in life sciences segment by product.
“The life sciences industry is using cloud to better leverage genomic research, open innovation, and collaboration. This shift can significantly reduce costs, achieve greater flexibility, and enhance functionality. A cloud-based service eliminates the expenses and problems related to the hardware layer of IT infrastructure. This transition to automation solutions on cloud is estimated to drive the market over the next four years,” says Bharath Kanniappan, Lead Analyst, Industrial Automation, Technavio Research.
The distribution control system (DCS) segment dominated the global industrial automation in the life sciences industry in 2015 with a market share of almost 36%. This vertical is expected to grow further with the expansion of the global pharmaceutical industry. Reduced error margins, and enhanced product acceptance within the industry is also expected to propel the DCS segment of the industrial automation in the life sciences industry across the world.
The key vendors in the global industrial automation in the life sciences industry include ABB, Emerson Electric, Rockwell Automation, and Siemens. Intense competition prevails in this market in terms of product features, price, customized solutions, and services offered. The global vendors are focusing on providing customized solutions that comply with the standards set by various regulatory bodies. Moreover, these major players are gaining high market prominence among life sciences companies due to their high brand value, history, and expertise in industrial automation solutions.
A more detailed analysis is available on the Technavio report, Global Industrial Automation in the Life Sciences Industry 2016-2020.
We can customize reports by other regions and specific segments upon request.
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