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(I-AutoNewsWire.com, September 05, 2019 ) Market Overview
Industrial automation is defined as the use of automatic control devices and technology that results in the electronic control and operation of industrial processes without human interference and achieving superior performance than manual control used in various industries by using robotics and computer software.
Industrial Automation is the replacement of humans with computers and machines. These automation devices include PCs, PLCs, PACs, and technologies include various industrial communication systems.
Market Dynamics
The principal characteristics of Industrial Automation such as increased productivity, less wastage, increased level of safety, optimum cost of operation, reduction of human errors, enhanced product quality, and reduction of routine checks are boosting the market.
Below statistic illustrates the information about the global factory automation market from 2017 to 2021. The global market for comprehensive factory automation is expected to propel by 3.5 % between 2019 and 2020.
Few drawbacks of industrial automation are its installation and maintenance is very expensive, and opposition to industrialization by union people due to loss of employment is hindering the growth of the market.
Market Segmentation
Based on technology, the global industrial automation market has been segmented into supervisory control and data acquisition, human-machine interface, distributed control system, and others. Distributed control system occupied the dominant market share.
The distributed control system handles the entire control system of a single automation system and the benefit of reducing the downtime and improve the production by using optimal resources.
Additionally, the distributed control system is used in the application of oil & gas industry benefits in increasing the exploration activities in oil fields. In addition to this, it also benefits the manufacturing plants by simplifying complex operations, ensuring decision integrity, and improving productivity.
By mode of application, the global industrial automation market has been segmented into food & beverages, pharmaceuticals, automotive & transportation, machine manufacturing, aerospace, and others. Automotive & transportation hold a significant market share.
This trend is estimated to continue during the forecast period. Increase in the use of automated systems by the industry players is majorly driving the market in the automotive and transportation sector.
Geographical Analysis
This report segments the market by geographic region which includes
North America,
South America,
Europe,
Asia-Pacific,
ROW.
Competitive Trends
Prominent players in global Industrial Automation market are ABB Ltd, Bosch, Honeywell Solutions, FANUC Corporation, Emerson Electric, Voith GmbH, Schneider Electric, Mitsubishi Electric, Rockwell Automation Inc., Toshiba Machine Corporation Ltd, Yaskawa Electric, Yokogawa Electric Corporation, General Electric, and others.
Most of these companies are making a massive investment in designing various cover glasses using different techniques. Product launches, partnerships, and expansions are expected some of the strategies adopted by players to increase the market share.
For instance, in July 2018, GE joined with Microsoft Corporation to bring together information technology and operation technology to eliminate hurdles industrial companies face in advancing digital transformation projects.
Key Takeaways
In April 2017, ABB joined IBM for industrial artificial intelligence solutions to improve the production lines by identifying critical faults during the manufacturing process.
View full sample: https://www.datamintelligence.com/research-report/industrial-automation-market
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