The global industrial automation services market is projected to witness a rapid growth during the forecast period owing high growth opportunities in emerging economies and rising adoption of automation techniques. Moreover, increasing demand for industrial automation services across various industry verticals such automation and transportation, metals and mining, oil and gas, energy and power system, chemical, material and food is likely to boost the market growth.
Industrial automation services refer to methods used for controlling industrial process automatically by means of electronically controlled systems.
Technology giants such as Siemens AG (Germany), Honeywell International Inc.,(U.S.), General Electric Company (U.S.), Mitsubishi Electric(Japan) and others.
Siemens AG is one the prominent players in the industrial automation services market. It offers automation services to various industrial verticals such as building technologies, energy and power, healthcare and others. Furthermore, it offers services such as maintenance of automation system, industrial communication, industry software, power supplies, and process automation.
Major factors driving the industrial automation services market include demand for operational efficiency, rapidly growing SMES, emerging technology such as Internet of Things(IoT) and cloud-based automation, growing demand for smart factories, mass customization, supply chain synchronization, integration of systems, advancement in the M2M communication technology. However, factors such as lack of trained professions and high installation and maintenance cost msy slow the market growth.
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Major Key Players
Siemens AG (German)
Honeywell International Inc.,(U.S.)
General Electric Company (U.S.)
Johnson Controls Inc.(U.S.)
Samsung Electronics Co., Ltd. (South Korea)
Schneider Electric (France)
Yokogawa Electric Corporation(Japan)
OMRON Corporation (Japan)
Danaher Corporation (U.S.)
The Global Industrial Automation Services Market is expected to grow at a CAGR of approximately 10% during the forecast period 2017-2023.
Industrial Automation Services Market Segmentation:
The global industrial automation services market is segmented on the basis of solution, service, and end user. The end user segment is classified into automation and transportation, metals and mining, oil and gas, energy and power system, chemical, material and food. The demand for the product is increasing from the environment and building technologies, heavy industries, and other segments. The energy and power systems are one of the major factors driving the demand for the industrial automation industry across globe.
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The global industrial automation services market is studied for Asia Pacific, North America, Europe, and Rest of the World. It has been observed that North American region accounts for the largest share of the market. Asia Pacific is expected to show the highest growth opportunities, prominently, in India and China. Owing to increasing population, manufacturers in the region are using automation systems in their assembling units to improve plant operation and to meet international standards, low cost labor and skilled workforce.
- Technology Investors
- Research/Consultancy firms
- Technology Solution Providers
- Government Bodies
- Original Equipment Manufacturers
- Consulting and training service providers
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