Industrial automation control: Key market research findings
- The market is driven by the need for compliance with government policies and regulations
- The process industries segment is the dominant shareholder in the market
- Key vendors—ABB, Emerson Electric, Honeywell, and Siemens
According to the market research analysts at Technavio, the global industrial automation control market is likely to grow at a CAGR of almost 8% between 2016 and 2020. The need to comply with the government policies and regulations is the primary driver for the market’s growth. The governments of various countries are imposing good manufacturing practice (GMP) on manufacturing industries such as automotive, food and beverages, consumer packaged goods, chemicals, and pharmaceuticals. Regulatory bodies are also imposing stringent legislations regarding carbon dioxide emissions, power consumption, and wastage. This has propelled several industries across the world to implement automation technologies to adhere to such regulations. At present, APAC dominates the global industrial automation control market with a value of almost $25 billion. The market growth in this region can be attributed to the growing need for industrial automation technology such as DCS and PLC.
The new market research report from Technavio presents a breakdown and analysis of the industrial automation control segments by end-user.
“The emergence of the fourth industrial revolution is the latest trend in the industrial automation market globally. The industry 4.0 integrates the Internet of things (IoT) with modern industrial automation control systems to bring out about improved connectivity, security, and performance in the industrial automation technology used for plant asset management. Besides, connecting such equipment to the Internet also enables faster and reliable real-time information processing and reduces capital expenditure (CAPEX) and operational expenditure (OPEX),” says Bharath Kanniappan, Lead Analyst, Industrial Automation, Technavio Research.
Currently, the process industries segment dominates the global industrial automation control market by occupying more than 66% of the overall 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 contribute to the growth of this segment. The increase in investment in the oil and gas sector is expected to boost this segment of the industrial automation control market across the globe by 2020.
The key vendors in the market are ABB, Emerson Electric, Honeywell, and Siemens. The market is proliferated by many local and regional vendors that provide highly customized solutions with high integration capabilities at a lower price in comparison to large international vendors. The scope of the competition largely includes features, functionalities, and services. Hence, competition is expected to further intensify during the forecast period with an increase in product extensions, technological innovations, and high R&D investments in this market.
A more detailed analysis is available in the Technavio report, Global Industrial Automation Control Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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