The report on the global Industrial Automation Services market covers historical market trends, current market dynamics, market valuation by segmentation as well as region, country-level analysis for every segment, key player’s market share analysis, competitive landscape and supply chain analysis.
The focus on operational efficiency has intensified considerably, which is expected to provide an optimistic outlook for the growth of the market. Market reports associated with the information and communication technology industry have been made available by Market Research Future which creates reports on other industry verticals that outlines the current market scenarios. The market is set to gain a 10% CAGR growth in the forecast period.
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.
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Major Key Players
- Honeywell International Inc., (U.S.)
- Siemens AG (German),
- Mitsubishi Electric (Japan),
- General Electric Company (U.S.),
- Rockwell Automation (U.S.),
- Johnson Controls Inc. (U.S.),
- Schneider Electric (France),
- Yokogawa Electric Corporation (Japan),
- OMRON Corporation (Japan),
- Samsung Electronics Co., Ltd. (South Korea),
- Danaher Corporation (U.S.)
among others are some of the prominent players profiled in MRFR Analysis and are at the forefront of competition in the Global Industrial Automation Services market.
According to MRFR, The global Industrial Automation Services Market is projected to reach USD 55.60 billion at a CAGR of over 10% by the end of the forecast period 2017-2023.
Industry News and Development
Wipro Infrastructure Engineering (WIN) has set up an industrial automation unit to capture a large share of the near $400 million manufacturing automation market in India. Wipro Infrastructure Engineering stated that it had commenced discussion with potential customers and would search for both wholly new industrial automation projects and contracts for automating activities of traditional manufacturing firms.
Ericsson, a Swedish communication services giant has recently signed a Memorandum of Understanding (MoU) with public sector telecom operator Bharat Sanchar Nigam Limited (BSNL) to make a roadmap for 5G and Internet of Things (IoT) deployments in the nation. The partnership will help BSNL to leverage Ericsson’s 5G Center of Excellence to evaluate the benefits of 5G technology in areas like connected healthcare, rural connectivity and industrial automation amongst others.
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 global industrial automation services market is estimated to grow at a promising rate in upcoming years. North America is the leading region among Europe, Asia-Pacific and Rest of the world (ROW). Asia-Pacific is the fastest growing region which is estimated to show high growth during forecast period. Increasing technology adoption and government initiatives to increase domestic manufacturing and production is expected to drive the growth of the market in the region. However, high installation cost of automation solutions in the market is one of the major reason behind slow market growth in the region.
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- Technology Investors
- Research/Consultancy firms
- Technology Solution Providers
- Government Bodies
- Original Equipment Manufacturers
- Consulting and training service providers
LIST OF TABLES
Table 1 Global Industrial Automation Services Market: By Region, 2017-2023
Table 2 North America Industrial Automation Services: By Country, 2017-2023
Table 3 Europe Telecom Expense Management: By Country, 2017-2023
Table 4 Asia-Pacific Telecom Expense Management: By Country, 2017-2023
LIST OF FIGURES
FIGURE 1 Global Industrial Automation Services Market segmentation
FIGURE 2 Forecast Methodology
FIGURE 3 Five Forces Analysis of Global Industrial Automation Services Market
FIGURE 4 Value Chain of Global Industrial Automation Services Market
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