Industrial Automation Services Market Analysis, Competition by Manufacturers, Technological Development and Trends 2022

on

Industrial Automation Services Market is expected to witness growth in the given forecasted period owing to the increase in demand for asset optimization and significant growth in adoption of advance and value added services. The strong government economic policy has made it necessary to enhance the productivity which has consequently accelerated the service investments Industrial automation services Market. Another factor that is fueling the growth of industrial automation services market is the need of the companies to optimize overall operational cost .Development and design of industrial automation system are undergoing rapid transformation .


In Industrial automation services Market there is shift on Service oriented architecture for the rapid application usage. To track the operation of machinery in isolated areas remotely we need industrial automation services. As in today’s world more emphasis is given on energy efficient plant and saving energy and labor cost both for achieving which industrial automation is necessary. The two key factors for achieving success in manufacturing industry are having resource efficiency and sustainable use of energy .This can be easily done by using the industrial automation service industry.
The main drivers of industrial automation services market are increasing demand of cyber security and predictive maintenance, significant focus on optimizing operational and material cost, increasing awareness of energy efficient usage and growing demand of improved asset utilization. Another driver that will be fueling the growth of industrial automation services Market for the given forecasted period is “big data application”. Industrial automation companies are expected to involve big data in their process over the forecast period so that they can capture hotspots in any industry where process changes are to be made .By observing which energy efficiency, variability in process and quality issues can be tackled very clearly. Industrial mobility is another factor which will drive the market over the forecasted period. New technology such as MEMS, nanotechnology, nanotech sensors and nanoscale assembly systems, Machine to machine networking are expected to drive industrial automation growth over the forecasted period.
The aim of companies to fully automate their logistics and electronic transaction owing to provide customized products to their customers is also propelling the growth of industrial automation services market. Companies are trying their best to remotely control and maintain their manufacturing settings which are also driving the expansion industrial automation services market. The biggest obstacles that could be faced by industrial services market is finding the right technology which could help them interpret large data sets and turn them into actionable and practical information. Lack of standardization due to disparity in services provided is also the one of the factor which could pose challenge for Industrial Automation Services Market. The other factor that can pose challenge to Industrial Automation Services Market is high initial investment.
Industrial Automation Services Market can be segmented into four parts that are operational services, maintenance and support, project installations and engineering, consulting services. The largest share of revenue is generated by project installation and engineering .After which maintenance and support segment accounts for the largest revenue. Consulting service segment is expected to witness fastest growing rate over the given forecasted period. On the basis services industrial automation market can be segregated into three parts distributed control system, programmable logic controller (PLC),Supervisory control and data acquisition(SCADA).
On the basis of regions Industrial Automation Services Market can be segregated into Asia Pacific, North America and Europe. In past few years Europe has been able to lead by having largest market share following which America and Asia comes. The major contribution is made by America and Europe, thought over the forecasted period Asia is expected to witness faster growth in comparison to America and Europe owing to increasing demand of industrial automation services in China, Japan, South Korea and India. Major companies in Europe and America are expanding themselves by outsourcing there operations to India and Japan which is helping Asia to achieve faster growth rate.
The global Industrial Automation Services Market comprises local, regional and international vendors. Vendors offer a broad range of operational services, logistics services, optimization services and maintenance and support services which enhances their growth of discrete and process industry. The leading vendors in the market are Rockwell Automation, ABB, Siemens, and Honeywell. Rockwell automation is implementing IoT (internet of things) concept by inculcating the use of Azure Powered Insights. By doing which Rockwell automation has make it possible for their clients to monitor and track their machinery in isolated areas.
It also helps in predicting potential problems and failures that are too costly to handle. To survive in the global market there are some key factors which should be kept in mind that are providing global yet local service, high and effective value added product and continuous stream of upgradation of their old products so that they can solve all the dynamic issues of the market. The other prominent vendors are Yokogawa Electric, SAP, Toshiba International, Aspen Technologies, Emerson Electric GE, Apriso, Omron, Eyelite, Invensys, Miracom, Werum Software & Systems, Yokogawa Electric and Metso.

Comments

Post a Comment