ID: MRFR/ICT/3396-HCR | February 2021 | Region: Global | 100 pages
Market Synopsis of Industrial Automation Services Market:
Industrial automation services refers 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.
The global industrial automation services market is segmented on the basis of service, solution, and end user. The service segment is further classified into professional service, consulting, technical training, system integration services, and others. However, the consulting service segment is expected to hold the major share of the market. It hypothesize the design and broadly define the requirements for the automation of plants. It supports every phase of the projects starting from startup and appointing to ongoing maintenance. It leverage the current assets to increase output, improve quality, ensure safety and fulfill regulations. Professional service companies possess an expertise solution and knowledge of tools and process that makes users workflows seamless and high performing. These companies are highly experienced and projects a detailed focus while offering services to small and mid-sized businesses. They provide a complete risk management solution and possess knowledge regarding cutting edge security features and implements them across different range of business environments. It is also essential for the successful implementation of automation software.
The North American region holds the largest share of the global market share followed by Europe, and Asia Pacific regions. The U.S. and Canada are dominating the North American market due to rising technological enhancements and established automation industry.
Asia Pacific region is expected to grow at the highest CAGR. Japan, South Korea, India, and China are the major revenue contributors to the industrial automation services market, especially, for manufacturing activities.
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
Some of the prominent players in the global industrial automation services market: 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.
The global industrial automation services market is segmented by service, solution, and end-user. Based on the service, the market is segmented into professional service, consulting, technical training, system integration services, and others. By the solution, the market is segmented into distributed control system, programmable logic controller, SCADA and others. By the end-user, the market is segmented into automotive, manufacturing, transportation and logistics, chemical, material, food, energy and power systems, and others.
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.
Frequently Asked Questions (FAQ) :
Honeywell International Inc., (U.S.), Siemens AG (Germany), Mitsubishi Electric(Japan) and General Electric Company (U.S.), are the major competitors of the market.
The major factors boosting the industrial automation services market are demand for rapidly growing SMES, operational efficiency, emerging technology such as Internet of Things(IoT) and cloud-based automation.
The service, solution, and end user are segments involved in the market’s segmental analysis.
North America tends to hold the largest share of the global market share in the future.
Asia Pacific region that will be going grow at the highest CAGR.