Industrial and factory automated products refer to the type of automated control systems used for operating machinery and equipment in the manufacturing or industrial locations. Emphasis to provide the production control, enhanced production rate, process optimization and reduced labors cost are fueling the demand for these systems from the past decade. However, high cost of automated systems, lack of infrastructure & skilled labor in the small-scale industries have been hampering the market growth of automated systems in industries and factories.
As per the IMF statistics, the economic growth in the APAC region is estimated to be around 6% till 2021 with automotive, consumer electronics, oil & gas, mining, manufacturing & processing and some other being major growth contributors. In addition, government’s initiatives including “Robot Farm”, “Make in India” and “Industrial Value Chain Initiative (IVI)” have been pressurizing the industries to deploy automated systems are significantly boosting investments which is projected to escalate the growth for the automated systems over the next five years.
Moreover, investments for the development of robots and other advanced industrial equipment from Korean and Japanese governments is set to fuel the development of sophisticated products viable for harsh and diverse environments. Dominant end user of automated equipment from the region include oil & gas, chemical & pharmaceutical, automotive and consumer electronics companies. Companies such as PetroChina Co. Ltd. & Sinopec Ltd have been upgrading their systems with the process automation systems to carry out operations including exploration, extraction, transportation, storage and distribution. Additionally, South Korean chemical industries & consumer electronics giant Samsung Electronics Co. Ltd. are among the key company which is witnessing the surge in adoption of automation to enhance product quality along with the attaining production efficiency.
Presence of leading automation companies including Kawasaki Robotics, Seiko Epson Corporation and others have been offering their automation products to the automotive manufacturers which include Toyota Corporation, Honda Motor Co. Ltd., Suzuki Motor Corporation and others. Additionally, developing economies including India, Indonesia & Malaysia are witnessing significant increase in industrialization which is projected to escalate the opportunities for the automated control systems over the next decade.
IndustryARC is a global market research and business consulting firm based out of India. We have research centers across Asia and Europe with consultants experienced in the following verticals – Agriculture, Automotive, Chemicals and Materials, Energy and Power, Food and Beverages, ICT, Electronics, Life sciences and Healthcare, Automation and Instrumentation.
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