The surging investments in the automotive sector have boosted the utilization of robots during the process of car production. Moreover, the rising demand for electronic products in the countries is boosting the requirement to automate production, thereby surging the demand for industrial robots. The robot supply to the food & beverage industry is gradually growing as it helps to prevent food contamination. In 2017, the number of robot orders surged by 19% in the food & beverage market thereby positively impacting the Global Industrial Automation market.
According to the MarkNtel Advisors’ research report titled “Global Industrial Automation Market Analysis, 2020”, the Industrial Automation market is projected to register a CAGR of around 7% during 2020-25. The process automation segment acquired the highest market share in The Global Industrial Automation market in 2019. The maximum share is attributed to the growth in the oil & gas, power generation, chemicals & petrochemicals, water & wastewater treatment sectors.
Moreover, the collaboration of the Internet of Things with automation is anticipated to have a strong impact on the growth of the Global Industrial Automation market. The introduction of IoT would enable the devices to communicate, exchange data and would assist the operators to monitor and optimize processes in hazardous areas.
The key players with a considerable market share in the Global Industrial Automation market include Siemens AG, ABB, Emerson Electric Co., Schneider Electric, Rockwell Automation, Inc., Honeywell International Inc., etc. The companies are increasingly collaborating with other firms to integrate different technologies and gain a competitive edge in the market. In 2019, Siemens and ExOne collaborated to integrate Siemens control, sensing, and motion technologies with the industrial 3D printer. In 2019, ABB and Aruba, a Hewlett Packard Enterprise (HPE) company have planned to collaborate by assimilating ABB Ability™ Smart Sensor technology with Aruba Wi-Fi and Bluetooth-enabled access points. Therefore, these types of collaborations between the companies are projected to expand the application of industrial automation.
Key Questions Answered in the Market Research Report
1. What are the key overall market statistics or market estimates (Market Overview, Market Size- By Value, Forecast Numbers, Market Segmentation, Market Shares) of Global Industrial Automation Market?
2. What are the region wise industry size, growth drivers and challenges key market trends?
3. What are the key innovations, technology upgrades, opportunities, regulations, growth drivers and challenges in the Global Industrial Automation Market?
4. Who are the key competitors or market players and how they perform in Global Industrial Automation Market on the basis of competitive benchmarking matrix?
5. What are the key results derived from the market surveys conducted during the course of Global Industrial Automation Market study?