Automation refers to the integration of various automatic control systems with smart technology. It is used in various manufacturing, control quality, and material handling processes. The latest report from IndustryARC evaluates that the global automation market was worth $155 billion to $160 billion in 2018 and estimates the demand to grow at a CAGR of around 9% to 12% during the forecast period 2019-2025. Growing demand for the productivity of goods and services from various end-user industries such as automotive, pharmaceuticals, and food and beverages is driving the automation market into huge profits.
According to IndustryARC analysts, the industrial sector is the key application of automation equipment, which is poised to grow with a healthy CAGR ranging from 11% to 14% over the forecast period 2019 to 2025. This impetus led to the widespread adoption of industrial robots in the metal industries, which provides a wide range of benefits such as accuracy and efficiency in the outputs. Hydraulic and pneumatic cylinders, Supervisory Control and Data Acquisition (SCADA) systems, and Programmable Logic Controllers (PLC) are some of the equipment used in the manufacturing sectors of metal industries. Moreover, the recent report of the International Federation of Robotics states that around 1.3 billion robots around the globe are offering services in factories for better productivity. Thus, automation in industries has become a notable means to tackle the rising wages and workforce.
Besides, APAC has been identified as the highest growing region, which held around 32% of the global automation market share in 2018. This dominance is due to the rapid rise in the adoption rate of automation systems in the food and beverage industry to control the equipment and produce better quality food. Therefore, it helps to enhance the operational efficiencies and make the food and beverage industry to remain competitive in the global commodity market. This information is presented in an InduatryARC report 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 (2019 – 2025).”
Global Automation Market Companies
ABB, Honeywell Solutions, Emerson Electric, Siemens AG, Schneider Electric, Mitsubishi Electric Corporation, General Electric, Rockwell Automation, Yokogawa Electric, Endress+Hauser, Kuka, Omron are some of the major players influencing the global automation market for further growth and expansion.
Rockwell Automation is one of the leading companies operating in the global automation market. In 2019, It signed a joint venture agreement with Schlumberger. This merger is mainly focused to provide measurement solutions, domain expertise and automation of oil & gas industries. Which, in turn boosting the growth of automation market.
The advent of Driverless Cars:
Autonomous cars are gaining huge traction all over the world for its remarkable features. As per Forbes, about 21 million driverless cars are estimated to be on road in the U.S. by 2030. Demand for autonomous vehicles is rising exuberantly owing to the increase in the number of road accidents and harmful emissions. This can be reduced to a greater extent with the extensive usage of automotive sensors. Uber and Waymo are the major companies working for the mass production of driverless vehicles.
The home automation market is envisaged to attain huge attention due to its wide range of benefits such as security, comfort, and efficiency. Sensors play a significant role in smart home systems, which helps in monitoring temperature, humidity, air and light accurately. Thus, it is a opt solution to live longer with a comfortable lifestyle.
Global automation market has witnessed quick growth due to the integration of control systems. The rapid development of driverless cars and smart homes has brought the new-found demand for automation systems. Increasing usage of automation systems in various industries such as automotive, metal, pharmaceuticals, and pharmaceuticals is anticipated to boost the growth of the market in the near future.
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Industrial and Factory Automation Market Analysis:
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