industrial automation control market analysis considers sales from both process industry and discrete industry end-users. Our analysis also considers the sales of industrial automation control in APAC, Europe, North America, South America, and MEA. In 2018, the process industry segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as remote monitoring and reduction of environmental impacts will play a significant role in the process industry segment to maintain its market position. Also, our global industrial automation control market report looks at factors such as simplifying complex manufacturing activity, increasing focus towards smart factories, and changing market dynamics. However, growing cybersecurity concerns, interoperability issues, and technical challenges may hamper the growth of the industrial automation control industry over the forecast period.
Global Industrial Automation Control Market: Overview
Increasing focus toward smart factories
Increasing focus toward smart factories will drive the demand for industrial automation control during the forecast period. Smart factories are rapidly becoming mainstream in the manufacturing sector to improve the overall efficiency and productivity of a plant. Furthermore, several factors including organizational realignments between information technology and operational technology and increasing complexity in supply chains are expected to promote the adoption of smart factories. This focus on smart factories will lead to the expansion of the global industrial automation control market at a CAGR of over 5% during the forecast period.
Virtualization of automation control systems
Software including hypervisors is increasingly being used to virtualize industrial automation control systems. Virtualization offer key benefits such as optimum resource utilization, smooth operation, and cost savings. In addition, the integration of different industrial automation systems including SCADA, PLC, and MES reduces the overall cost for the servers. Thus, increasing awareness about virtual software and flexibility achieved by deploying automation software is further expected to surge the demand for virtualization in the global industrial automation control market during the forecast period. This development is expected to have a positive impact on the overall market growth.
For the detailed list of factors that will drive the global industrial automation control market during the forecast period 2019-2023, click here.
With the presence of several major players, the global industrial automation control market is highly fragmented. robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading industrial automation control manufacturers, that include ABB Ltd., Eaton Corp. Plc, Emerson Electric Co., General Electric Co., Honeywell International Inc., OMRON Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Yokogawa Electric Corp.
Also, the industrial automation control market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.