Sensors play a prominent role in the control automation market. They are versatile and effectively used in applications like accurate object detection and measurement. Software tools such as collaborative production management, human-machine interface (HMI), supervisory control and data acquisition (SCADA), product lifecycle management, machine safeguarding solutions, process safety management, and enterprise asset management are mostly used in energy, manufacturing, food and beverage, power, and transportation industries. SCADA is majorly used to improve the efficiency of industrial organizations, public and private sector companies as well. This information is based on a recent market research report from IndustryARC, titled “Automation Market: By industry (automotive, oil & gas, others), components (sensors, switches, others), tools (HMI, SCADA, PLM, others), technology (ANN, PLC, others), Applications (HVAC, Lighting, security, others) & geography – Forecast (2018 - 2023).”
Global Automation Market: Demand Analysis
Digitalization is transforming the lifestyle of individuals in today’s world. Advancements in technology that include robotics, big data, artificial intelligence, machine learning, and the Internet of Things are enhancing factory production through automation. According to IndustryARC estimations, global industrial and factory automation market is valued $129.45 billion in 2017 and is anticipated to grow at a CAGR of 4.9% from 2018 to 2022. Automation is one of the fastest advancing technologies which uses control systems to minimize human assistance and provide consistent quality services.
In this competitive world, to meet the growing needs, digital processing automation offers the best solution to enable an organization’s success. Robotics play a vital role in traceability automation solutions. Thus, robotic automation is one of the evolving technologies in the manufacturing sector, and its demand is on the rise owing to the productivity and profitability offered by industrial robots. The automotive industry is experiencing a noticeable exponential growth with the introduction of robotic process automation (RPA) for zero defects manufacturing, which is efficiently used in consumer and business applications. In the oil and gas industry, automation market solutions are preferred to resolve operational issues associated with the industry as it replaces a pool of skilled labor and elevates profits.
Browse 92 Market Tables, 179 Figures spread through 144 slides and an in-depth TOC on “Automation Market (2018 - 2023)”
Automation Market: Competitive Analysis
- Omron Corporation, Emerson Electric Co., General Electric, ABB Ltd, and Honeywell are some of the key players in the automation market.
- In 2018, Omron Corporation announced about second control equipment plant construction in China. The labour shortage and a need to meet the continuous demand for control equipment and industrial robots resulted in the automation of the manufacturing process. The company introduced FH-Series Vision System in the automation market, which empowers the productivity and quality control of the manufacturing industry.
- In 2018, Emerson announced to establish a partnership with Texas A&M College of Engineering to build an Advanced Automation Laboratory. It is funded with an amount of $1.5 million as a donation to provide practical knowledge regarding the purpose of automation in oil and gas, refining, life sciences, and food and beverage industries.
- Emerson acquired intelligent platforms of General Electric in 2018 to expand its horizons in the global automation market. Through this agreement, Emerson has gained huge opportunities to expand itself in machine control involved in metals & mining, life sciences, food & beverage, and packaging industries.
- Cybernetics SA Company deals with the manufacturing and installation of process automation.
Automation provides a solution to substitute human intervention with machines. Reduced human errors coupled with continuous quality services offered by automation are attracting the OEMs. The wide range of applications found in the automotive and oil & gas industry will lead to the growth of the automation market during the forecast period 2018-2023.
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Process Automation Market: By Type (PLC, SCADA, Valves, Transmitters, MES); By Industry (Chemical, Oil & Gas, Petrochemical, F&B, Paper, Automotive) & By Region - Forecast(2018 - 2023)
Industrial and Factory Automation Market: By System Types (Control Systems, Software, Machine Vision, Others); By Hardware (Human Machine Interface, Connectivity, Others); By Verticals (Energy, Automotive, Chemicals, Others) & By Geography - Forecast (2018-2023)
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