Industrial Automation Market Overview
The industrial
automation market is set to grow at
a CAGR of 9.35% during the forecast period 2018 to 2023. As per the market
research report, the market will reach a high value by the end of 2023. The
market growth will be driven by robust growth in the manufacturing sector.
Based on the research report, favorable government policies will accelerate
growth in the market till 2023. Industrial Automation empowers risk mitigation,
resiliency, agility, responsiveness, and faster time to market. It increases
capacity utilization, which drives capital investment in the newest automation
technologies. The new systems increase competitiveness and enable the
recruitment of a smarter, tech-oriented workforce, thus enabling more
automation. Industries are increasingly moving towards automation of manufacturing
and related processes.
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Factors such as
favorable government policies will be major growth factors during the forecast
period and increased focus on economic diversification is also said to be
supporting the market globally, however, the growth projected for the forecast
period could be affected by high installation costs which could negatively
affect activities taking place across the market. Slow automation processes
uptake is another challenge the market could face till 2023.
Market
Segmentation
The industrial
automation market is segregated into different market segments based on type,
technology, and end-user. For a comprehensive analysis of the market, the type,
technology, and end-user segments are further split into smaller segments. The
type segment is categorized into fixed automation and programmable automation.
Furthermore, based on technology, the global market is also segmented into
SCADA, PAC, PLC, DCS, HMI. Based on the market segmentation analysis, the
report covers market forecasts. On the basis of end-user, the global market is
split into sub segments including aerospace & defense, automotive,
electronics, machine manufacturing, oil & gas, and pharmaceuticals.
The shift from
manual assistance to automation will support the market growth from 2018 to
2023. As per the market research report, the global market for industrial
automation is anticipated to grow at a healthy rate across all the type,
technology, and end-user segments. However, the presence of active threats such
as dynamic policies and regulations could hamper the market growth. Business
activities across automation technology have also been examined and studied by
automation technology industry’s experienced analysts. The industrial
automation market research report covers findings with predictions and
forecasts till 2023.
Regional
Overview
The industrial
automation market, with its segments, is present in different parts of the
world. Automation technology based regional markets are also covered in the
market research report. The regional markets are Asia-Pacific, Europe, North
America, the Middle East and Africa and the rest of the world. The lack of
skilled human resource is anticipated to be a major factor for growth across
the automation technology space during the forecast period. The regional market
in North America is classified as the United States, Mexico, Canada, and
others. The automation technology sector based regional markets in Europe are
split into Italy, Germany, France, and the United Kingdom. In the Asia Pacific
region, the market is segmented into China, India, Japan, and others.
Automation technology based businesses in these regional markets are
anticipated to grow due to technological advances during the forecast period
2018 to 2023. Although the market’s growth could be affected by high deployment
and maintenance costs. The analysts have
also segmented markets of the Middle East, Africa, and the rest of the world.
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Competitive
Landscape
Automation
technology based organizations are profiled in the market research report. The
industrial automation market along with companies and segments have been
studied. The analysis of automation technology based business is also done to
identify key challenges and strengths of these companies. The global industrial
automation market research report covers SWOT analysis, Porter’s Five Force
analysis of major automation technology related organizations. The strategy and
other key details of these companies for the forecast period 2018 to 2023 are
covered in the report. The lack of a developed infrastructure is anticipated to
support the market growth as the market is set to grow at a CAGR of 9.35% and
reach a high value by 2023.
Industry News
Accenture has
decided to buy Pollux, a Joinville, Brazil-based manufacturer of industrial
robotics and automation solutions. Accenture's capabilities will be improved as
a result of the purchase with clients in the consumer products, healthcare, and
automobile sectors looking to enhance the efficiency, protection, and
profitability of their manufacturers, facilities, and supply chains. Pollux
offers packaging and distribution process optimization solutions. The business
creates completely operating assembly lines that contain robots and other
hardware, as well as the software that manages them, by designing, engineering,
and deploying them. In addition to visual analytics inspection applications,
Pollux also provides autonomous handheld robots as well as robots as a service.
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