Global Automation Market: Demand Analysis and Growth Forecast
Automation is the use of various control systems for operating distinct equipment and the usage of robotics for minimal human assistance. Automation market has been observing a healthy growth as the technology has become an integral part of various industries at large, especially in developed and developing countries. The global automation market is assessed to be between $155 and $160 billion as of 2018, according to IndustryARC, and the demand is estimated to grow at a CAGR between 9% and 12% during the forecast period of 2019 to 2025. The report is titled “Automation Market: By industry (automotive, oil & gas); components (sensors, switches)’ tools (HMI, SCADA, PLM); technology (ANN, PLC)’ applications (HVAC, Lighting, security) & geography – Forecast (2019 - 2025)”.
Moreover, moving towards automation will bring a global boost in terms of productivity. According to the World Economic Forum, it is estimated that the global productivity will rise to 0.8% to 1.4% annually due to automation. For instance, KFC had adopted automation in 2016, being one of the first Food and Beverage Company to run robots in a restaurant.
Browse 92 Market Tables, 179 Figures spread through 144 slides and an in-depth TOC “Automation Market (2019 - 2025)”
Global Automation Market: Leading Segment
Automation has impacted the industries like food and beverages, telecommunication, information technology, medical devices, automotive, and pharmaceuticals. However, due to the industrial growth and the projected upsurge in the industrial sector, the application CAGR of automation in the industrial sector is estimated between 11% and 14% during the forecast period of 2019 to 2025. APAC is marked as the fastest growing region in the industrial sector. Due to industrialization, countries such as India, China, Australia, New Zealand, Singapore, and Japan are shifting towards industrial automation from the service sector. APAC has recorded a wider contribution globally with the regional share of around 32% as of 2018.
Global Automation Market: Disruptive Trends
Various industries have adopted automation as mentioned above. Few are listed below:
- Food and Beverage Industry
To make the work simpler and less labor-centric, the packaging industry has adopted automation which has reduced demand for the labors which is now more efficient and effective equipment such as Cake decorator, Pizzeria robot, and Robotic Butchery.
- Automotive Industry
Automotive market has taken automation to another level. After Waymo by Google Inc., Tesla launched autopilot-enabled semi-autonomous cars in 2018. Tesla has sold thousands of such cars till date. This is an advanced technology of control system machine learning, in the automation market. Eventually, this will reduce road accidents. According to Forbes, 37,000 die in road accidents each year and over 1 million automotive fatalities happen worldwide which is why the demand for self-driven truck and autonomous cars is increasing. This will further flourish the automation market.
- Pharmaceutical Industry
Need for improvement in supply chain and optimization has always been a driving factor for the automation market in the pharmaceutical industry. The industry has started using Industry 4.0 as a new tool for better decentralization production.
- Telecommunication Industry
Automation has dominance in telecom operations for a few years now. Red Hat in 2018, automated its security and compliance for its service providers through Ansible Automation. It provides efficiencies for network infrastructure. Similarly, other players in the telecommunication industry are leveraging the technology which is boosting the automation market by many-folds.
Global Automation Market: Competitive Landscape
Some of the key companies identified in the report that are currently holding majority shares in the global automation market are ABB, Honeywell Solutions, Emerson Electric, Siemens AG, Schneider Electric, Mitsubishi Electric Corporation, General Electric, Rockwell Automation, Yokogawa Electric, Endress+Hauser, Kuka, and Omron.
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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(2019 - 2025)
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 (2019-2025)
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