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Industrial Automation Market to Touch US$352.02 Bn by 2024; Huge Investments to Drive Demand in Global Market, Says TMR

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Transparency Market Research

06 Dec, 2018, 11:00 GMT

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ALBANY, New York, December 6, 2018 /PRNewswire/ --

The global industrial automation market is likely to witness extreme competition, states Transparency Market Research in its recent report. The market is also fragmented as large numbers of players are operating in it. Leading players in the market are collaborating with the regional players to increase their geographical reach. They are also focusing advanced technologies to offer better services to their customers. Rockwell Automation, Inc., Toshiba Machine Corporation Ltd., Emerson Electric Company, Honeywell International Inc., Mitsubishi Electric Corporation, and FANUC Corporation are some of the few leading companies functioning in the market.

     (Logo: https://mma.prnewswire.com/media/664869/Transparency_Market_Research_Logo.jpg )

According to the report, the global industrial automation market is projected to rise at 6.6% CAGR over the forecast period between 2016 and 2024. Expanding at this rate, the market valuation is projected to touch US$352.02 bn by the end of 2024. In 2015, the market valuation was US$182.64 bn.

Get PDF Brochure for Research Insights at: https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=10868

Depending on the automation type, the product lifecycle management (PLM) segment held a larger share in 2014. The manufacturing execution system segment (MES) closely follows PLM segment. On regional front, Europe accounted for 51% share in 2014 and dominated the global industrial automation market. Europe is likely to continue its dominance during the forecast tenure. On the other hand, Asia Pacific is expected to offer lucrative growth opportunity due to increasing demand for industrial automation in various industries.

Rising Application in Various Industries to Fuel Industrial Automation Market 

Advancement in technology and the introduction of automation has helped various industries to expand significantly. Rapidly changing trends and growing demand for products has encouraged the manufactures to install industrial automation services. Globally, the demand for industrial automation has increased significantly and this market is drawing huge sum of investments. Usage of robot controller industrial mechanism has paved the way for industrial control and industrial automation equipment. Over the coming years, the global industrial automation market is expected to grow extensively as various industries are looking forward to industrial automation.

Browse Research Release at https://www.transparencymarketresearch.com/pressrelease/industrial-automation-market.htm

High Maintenance Expenses to Hamper Market Growth  

Despite the growing demand for industrial automation in various industries, few restraining factors might hamper the growth of this market. Highly expensive research and development activities and the high cost of setting systems for machinery production can deter the demand in this market. Limited knowledge about the benefits of using industrial automation in emerging economies might restrict the growth opportunity of this market. High maintenance expenses can also refrain manufactures to install industrial automation in their industries. This might further challenge market growth. However, the mounting frequency of factories is integrating automation to keep up with the changing pace. This factor might help in overcoming challenges to a certain extent. Moreover, the incidence of automation devices such as PCs, PLCs, and PACs are expected to drive the growth in this market.

Request a Sample of Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=10868

The information presented in this review is based on a TMR report, titled "Industrial Automation Market (Automation Type - Distributed Control System (DCS), Programmable Logic Control Systems (PLC), Machine Vision Systems, Manufacturing Execution Systems (MES), Human Machine Interface (HMI), Supervisory Control and Data Acquisition (SCADA), Product Lifecycle Management (PLM), Plant Asset Management, Computer Numerical Control (CNC) Routers, and Electronic Control Units (ECU); Industry - Automotive and Transportation, Metals and Mining, Energy and Power System, Chemical, Material, and Food, Measurement and Instrumentation, Environment and Building Technologies, Heavy Industries, Oil and Gas, Pulp and Paper, and Hydro Power) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024."

Request For Discount On This Report: https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=10868

Industrial Automation Market has been segmented as presented below: 

Global Industrial Automation Market: By Automation Type 

  • Distributed Control System (DCS)
  • Programmable Logic Control System (PLC)
  • Machine Vision System
  • Manufacturing Execution System (MES)
  • Human Machine Interface (HMI)
  • Supervisory Control and Data Acquisition (SCADA)
  • Product Lifecycle Management (PLM)
  • Plant Asset Management
  • Computer Numerical Control (CNC) routers
  • Electronic Control Units (ECU)
  • Others

Global Industrial Automation Market: By Industry 

  • Automation and Transportation
  • Metals and Mining
  • Oil and Gas
  • Pulp and Paper
  • Hydro power
  • Energy and Power System
  • Chemical, Material and Food
  • Measurement and Instrumentation

Global Industrial Automation Market: Geography 

  • North America 
    • U.S.
    • Canada
  • Europe 
    • U.K.
    • Italy
    • Spain
    • France
    • Germany
    • Rest of Europe
  • Asia Pacific  
    • China
    • India
    • ASEAN
    • Rest of Asia Pacific
    • Japan
  • Latin America 
    • Brazil
    • Mexico
    • Rest of South America
  • Middle East & Africa (MEA) 
    • GCC
    • South Africa
    • Rest of MEA

Browse More Factory Automation Market Research Reports

Popular Research Reports by TMR: 

  • Distribution Automation Market (By Product Type - Monitoring and Control Devices, Power Quality and Efficiency Devices, and Switching and Power Reliability Devices; By End-user - Industrial, Commercial and Residential Sector):  https://www.transparencymarketresearch.com/distribution-automation-market.html
  • Fire Protection Systems Market - Global Industry Analysis, Size, Share, Growth Trends, and Forecast 2015 - 2023:  https://www.transparencymarketresearch.com/enhanced-fire-protection-market.html
  • Computer Numerical Controls (CNC) Market (Types - Lathe Machines, Milling Machines, Lasers, Grinding Units, Welding Machines, and Winding Machines; Application - Automotive, Industrial, Power & Energy, and Defense & Aerospace):  https://www.transparencymarketresearch.com/computer-numerical-controls.html

About Us 

Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.

Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through adhoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.

TMR believes that unison of solutions for clients-specific problems with right methodology of research is the key to help enterprises reach right decision.

Contact
Mr. Rohit Bhisey
Transparency Market Research
State Tower,
90 State Street,
Suite 700,
Albany NY - 12207
United States
Tel: +1-518-618-1030
USA - Canada Toll Free: 866-552-3453
Email: sales@transparencymarketresearch.com


Website: https://www.transparencymarketresearch.com

Research Blog: https://transparencyjournal.com/

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