Industrial automation is defines as the controlling & processing of heavy industrial machines, equipment and devices with the help of advanced systems & software, which are backed up by advanced technologies for instance cloud, machine learning, robotics and others. The automation devices include PCs, Programmable logic controller (PLC), Programmable automation controller (PAC), etc. The system can be very complex in nature, has huge number of devices working in synchronization using automation technologies.
The key advantages are included lower operating costs, lower wastage, reduction in human errors, efficient manufacturing, improve quality production, raise the level of safety, synchronization of procedures, reduce routing checks and a faster product lifecycle.
According to study, “Industrial Automation Market, by Type (Fixed Automation and Programmable Automation), by Technology (SCADA, PAC, PLC, DCS, HMI) and End-User (Machine Manufacturing, Oil & Gas, Aerospace & Defense, Electronics, Automotive, Pharmaceuticals) – Forecast to 2023” the key companies operating in the industrial automation market are Emerson Electric Co., Schneider Electric SE, General Electric Company, Honeywell International, Inc., Yokogawa Electric, Mitsubishi Electric Corporation, Rockwell Automation, Inc., Fanuc Corporation, Siemens AG, Ametek, Inc., ABB Ltd. Key companies in the manufacturing industry are focused on adopting & implementing industrial automation solutions to enhance the overall productivity & educate their employees and reduce high cost while accomplishing precision & flexibility.
Based on type, industrial automation market is segmented into fixed automation and programmable automation. Based on component, market is segmented into industrial robots, control valves, industrial 3D printing and machine vision market. Based on technology, market is segmented into Supervisory control and data acquisition (SCADA), PLC, PAC, Distributed control system (DCS), Human-machine interface (HMI), Operator training simulators (OTS), Variable frequency drive (VFD), Product lifecycle management (PLM), Asset performance management (APM), Plant asset management (PSM), Manufacturing execution system (MES) and Plant asset management (PSM) and Computer numerical control (CNC) routers. In addition, based on end-use industry, market is segmented into oil & gas, electrical & electronics, machine manufacturing, automotive & transportation, aerospace & defense, food & beverages, chemical, mining & metals, pharmaceuticals, electric power generation and others.
The industrial automation market is driven by rise in demand of industrial automation in manufacturing industries, followed by increase in government policies supporting adoption of industrial automation, rise in interconnectivity & Internet of Things (IoT) developments in computer-aided systems, growth in focus on economic diversification in emerging markets, rapidly surge in demand for fast production capacities and growth in organizations focused on worker safety. However, high implementation cost of equipment is a major restraint factor of market. Moreover, growth in adoption of industrial 4.0 across various industries and rise in industrial robotics are key opportunities for market.
Based on geography, the European region dominates the industrial automation market owing to growth in automotive production and rise in consumer electronics production in the region. The Asian-Pacific and North-American regions are anticipated to witness lucrative growth rate due to upsurge in economic growth, increase in the use of industrial robots and expand in urbanization over the forecast period. The global market is predictable to reach US $341.41 billion in 2023, growing at a CAGR of 9.35%, during 2019-2023.
To know more, click on the link below:–
Global Industrial Automation Market Research Report
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