Market Highlights
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. Although dependence on conventional manufacturing mechanisms will have a
negative impact on the global industrial automation market’s growth during this
period. Compatibility issues will likely become a threat. The industrial
automation market report published by expert analysts includes primary and
secondary data and suggests that type, technology, and end-user segments are
anticipated to witness tremendous growth till 2023. 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.
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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.
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.
Regional Analysis:
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.
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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