Market Highlights
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.
High demand of operation efficient solution by industries, developing IoT and cloud technology, increasing adoption of automation by industrial manufacturer, and increasing demand of safety compliance automation services are some of the factors driving the growth in industrial automation services market globally. However, lack of technical expertise is expected to hinder the market growth in coming years.
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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Industry News and Development
February 2018 – CIMTEC Automation LLC, and Epson robots has extended their partnership to extend to scope of selling Epson robots and automated products throughout the South-eastern U.S. Epson has announced CIMTEC as their official East Coast repair and maintenance center.
February 2018 – Altizon, a leading industrial IIOT platform company and EVIO Pvt. Ltd., a global industrial automation engineering service provider, partnership to help their clients in accelerating their IIOT projects. The developing industrial automation market is one of the major factor of compelling leading players to invest in the market.
January 2018 – Bilfinger SE, a global engineering and industrial service provider, merges their Runcorn-based Bilfinger Industrial Services and Newton-le-Willows-based Bilfinger Industrial Automation Services business which now would be trade under one name “Bilfinger UK Limited”. The merger is a strategic move by the company in order to strengthen their market position in North West Europe.
The global industrial automation services market is projected to reach USD 55.60 billion at a CAGR of over 10% by the end of the forecast period 2017-2023.
Industrial Automation Services Global Market- Competitive Analysis
The market position analysis is derived by considering various factors such as financial position, segmental R&D investment, brand value, product portfolio, strategy analysis, and key innovations in Industrial Automation Services market. The key strategies traced from the analysis of recent developments of the key players include Product Launch, Agreement & Partnership, Acquisition and expansion. Strategic partnerships between Key players support the growth and expansion plans of the key players during the forecast period. On the product and sales side, companies are investing in innovation/R&D, brand building, and fostering strong relationships with customers to support their competitive position.
Major Key Players
Siemens AG (German),Honeywell International Inc.,(U.S.) General Electric Company (U.S.), Mitsubishi Electric(Japan), Rockwell Automation(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.) among others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Industrial Automation Services market.
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Regional Analysis
The global industrial automation services market is estimated to grow at a promising rate in upcoming years. North America is the leading region among Europe, Asia-Pacific and Rest of the world (ROW). Asia-Pacific is the fastest growing region which is estimated to show high growth during forecast period. Increasing technology adoption and government initiatives to increase domestic manufacturing and production is expected to drive the growth of the market in the region. However, high installation cost of automation solutions in the market is one of the major reason behind slow market growth in the region.
Intended Audience
- Technology Investors
- Research/Consultancy firms
- Technology Solution Providers
- Government Bodies
- Original Equipment Manufacturers
- Consulting and training service providers
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