Jan 7 2015
Research and Markets has announced the addition of the "Global Industrial and Factory Automation Market Analysis and Forecast (2013 - 2018): Robotics, Wireless Communication Usage for Efficiency Increase Major Growth Reasons" report to their offering.
The Industrial Automation equipment and services market is slated to grow at 7.05% CAGR for the next five years. The market is estimated to reach $283.2bn by 2018.
Control systems have the largest market in factories with M2M interaction making the process completely automated. Softwares like ERP gives business management solutions, PAC aids with M2M interaction in control systems. Sensors help in differentiating, error control and production management.
Innovative products and services are gradually capturing the Industrial Automation market. Companies such as Sick AG are offering better miniature sensors to which are affordable and productive. Siemens who already have strong market in Asia are increasing production due to demand for automation in emerging countries like India.
The report is segmented based product types, end use verticals and geographic regions. The market share analysis, strategies and future opportunities are also discussed in the report. The service market has been aiding the market in earning significant revenues apart from the hardware and software sales, with an augmented segment of the end-users, preferring the maintenance and outsourcing services instead of the in-house purchase and the subsequent maintenance.
The prominent players profiled in this report are ABB, Schneider Electric, Rockwell Automation, Honeywell International and others.
Report Highlights
- Factory automation will grow on key growth factors like mass customization, supply chain synchronization, integration of systems, functional costs and total system cost.
- As competition increases in the manufacturing industry and profit margins need to be protected, companies can opt for significant automation of the factories to reduce costs are move towards China, Taiwan for cheaper labor costs. This is a strategic decision based on the various trade-offs and the type of product being manufactured.
- In the developed countries, the number of robots per 10,000 employees was 149 but it is only 11 in emerging markets, 6 in Latin America and 7 in EMEA emerging regions. This shows the huge scope and opportunity for the industrial automation market.
- Energy and control segments are the fastest growing segments in this industry.
Source: http://www.researchandmarkets.com/