In a recent published report, Kenneth Research has updated the Industrial Controls and Factory Automation MARKET report for for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Industrial Controls and Factory Automation MARKET products.
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According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019. Additionally, exports of ICT services increased from 5.61% of service exports (BoP) in 2001 to 10.37% of service exports (BoP) in 2017.
The Global Industrial Controls and Factory Automation Market were estimated as USD 109.0 Billion in 2014 and is projected to witness a stable growth over the forecast period. Growing demand of automation for streamlining the processes through real time gathering and control in Chemical, Oil & gas, Water treatment, Automotive industries is projected to fuel the market growth.
Extensive application of technology in manufacturing processes, need for supply chain and mass production for catering the growing population are few factors positively influencing the industry growth. Furthermore, growing government initiatives for adoption of industrial automation in various industries is anticipated to fuel the industry growth.
Automation in the industry aids in monitoring the production, ensuring fast production, product quality, reducing waste, while minimizing the costs, standardizing the manufacturing processes. This also provides reliable and flexible solutions in manufacturing plants. The emerging application which includes electronic power distribution systems, heating ventilation air conditioning (HVAC), and human machine interface (HMI) is projected to further spur the market growth over the forecast period.
Based on the product, the automation market is categorized into Supervisory Control and Data Acquisition (SCADA), Manufacturing Execution System (MES), Distributed Control System (DCS), Programmable Logic Controller (PLC), Drives, Relays and Sensors. The end users include Process industries and Discrete industries.
The MES is anticipated to acquire the major share in the industry over the forecast period due to its association with tasks of production management in a comprehensive software system. The process industry is also projected to major share in end-user segment owing to the rising cost pressure on manufacturers for optimizing the production process.
Although, lack of expertise for handling the control and factory automation and initial high capital investments for installation may impede the industry growth. However, introduction of cost-effective models for adopting industrial control and intuitive and user friendly model of automation system is anticipated to create growth opportunities.
Europe and North America regions are estimated to attain the foremost share of the industry. Increasing focus towards the renewable energy in the European countries is projected to build the demand for the automation solutions over the forecast period. Furthermore, increasing demand for the building the smart factories in manufacturing based countries such as China and Germany has created an emerging environment for automating their existing manufacturing facilities.
Asia Pacific region is also anticipated to emerge as a promising market owing to the increased industrialization and rising awareness for automation control with supportive government policies in various countries which include China, Japan, and India.
Key players in the industry include ABB Ltd, Emerson Electric, General Electric Co., Honeywell International, Schneider Electric, Ametek Inc., and Siemens Ag. Other players include Yokogawa Electric Corporation, Bosch Automation, Mitsubishi Corporation, National Instrument Corporation, Omron Corporation and Rockwell Automation.
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The developers and vendors of ERP solutions are increasingly offering cloud-based solutions as automation solution for reduce the implementation cost and on-demand customization for meeting the specific requirements of various businesses.• Middle East & Africa: GCC, North Africa, South Africa and Rest of MEA
The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:
- North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
- Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys & Opportunity Outlook
- Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
- Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook
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