Published On : 24 Oct 2018
A good number of companies operate in the global industrial automation control market. This makes the competitive landscape somewhat fragmented. To thrive in such a crowded space, nimble companies, namely Emerson Electric, ABB, Honeywell, Siemens, and Rockwell Automation, among others are seen focusing on product development; they are designing more sophisticated products underpinned by powerful sensors, cloud computation and storage, and data analysis. This has helped the global industrial automation control market to rise at a steady pace over the course of years. Going forward too, the market is expected to experience steady growth.
The global industrial automation control market is set to rise because of the usefulness of the product in helping the end use industries optimize their operations by bringing about effective control of different processes. Such smart manufacturing does away with the need for human intervention. This also allows large manufacturing units on cutting back on labor costs. In the near term, more and more industries are expected to lap up the new technology.
Sensors Generate Most of the Revenue in Global Industrial Automation Market
Some of the products driving revenue growth in the global industrial automation control market are DCS, SCADA, PLAC, sensors, and drives. Among those, the sensors take the cake when it comes to demand and sales. And with the launch of better versions every now and then touting improved features and functionalities the sensors are predicted to witness further sales. As far as SCADA is concerned, smart grid technologies are predicted to offer high growth opportunities to it.
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Security Concerns Prove to be Major Hurdle for Market Growth
Posing a challenge to the global automation control systems market, on the other hand, are the security concerns owing to advanced automation solutions such as Software-as-as-Service (SaaS) that helps businesses to upgrade to latest technologies. Usage of Internet of Things (IoT), cloud, Wi-Fi, Bluetooth results in high chances of sensitive data getting compromised. Other things affecting the growth of the global automation control systems market is the continued change in technologies and lack of skilled professionals for operating and maintaining products. Apart from that, absence of core robotics manufacturing companies in many developing regions is also a dealing a blow to market growth.
Sophisticated Manufacturing Units in Europe and North America Make them Market Leaders
Geographically, the global automation control systems market is spread across North America, South America, Europe, Asia Pacific, and the Middle East and Africa. North America and Europe currently account for most of the market share because of the highly developed manufacturing units being present across them. Presence of core robotics manufacturing companies and extensive research and development in the domain of technology has also helped the market in the region to rise.
The Latin America and Asia Pacific automation control systems market are currently under tapped and most savvy players are seen setting their gaze upon them.
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