"Grand View Research, Inc. – Market Research And Consulting."According to a new report published by Grand View Research, market is anticipated to witness significant growth over the forecast period on account of the increasing adoption of process automation across various industries such as automotive, energy utilities, and chemicals.
The global industrial automation and control systems market size is estimated to reach USD 223.0 billion by 2025, according to the new report by Grand View Research, Inc. The market is expected to witness a CAGR of 8.6% over the forecast period. The growing adoption of the industrial automation systems such as SCADA, DCS, and PLCs to achieve operational excellence is expected to fuel the growth of the market. Factors such as rising labor costs, rapid expansion in the manufacturing industry, and the need for precise manufacturing methods and accuracy in end products are significantly driving the global market. However, high initial deployment costs of the control systems is expected to pose a significant challenge for the market’s growth in developing economies.
The governments across the globe are increasingly investing in research and development activities towards Industry 4.0 transformation. For instance, the U.S. government is planning to spend significant capital into the industrial internet of things (IIoT) and the digitization of manufacturing processes over the next five years. Through this, the country’s government aims at increasing the production and innovation strength while decreasing the international trade deficit. Whereas in China, the labor and material costs are continually increasing, thus the industries are actively focusing on digitization to transform the old production methods. The strategic plan of the government of China, Made in China 2025, aims at transforming the country into an advanced production nation by producing higher-value products and services. As such, the factories around China will increasingly adopt industrial automation and control systems over the forecast period.
The industrial automation and control systems include various components such as human-machine interface, industrial robots, control valves, sensors, industrial 3D printers, field instruments, machine vision systems, among others. These components have a high demand from end-use industries such as food and beverage, manufacturing, automotive, and oil and gas. The manufacturing industry has a high market for industrial automation as the adoption of automation and control systems for manufacturing applications is significantly increasing. This growing adoption is attributed to the boom in manufacturing industry and the increasing number of manufacturing plants across the world. Additionally, the automated machines are helping the companies to increase production throughput and achieve operational excellence. This, in turn, is reducing the overall costs of the manufacturing; thus, the industrial control and factory automation market is expected to grow at a steady pace over the forecast period.
Browse full report with Table of Content @ https://www.grandviewresearch.com/industry-analysis/industrial-automation-market
Industrial Automation And Control Systems Market Report Highlights
• The industrial automation and control systems market is gaining traction on account of a rapid industrial shift towards digitization of the processes. The companies are actively investing in automated machines to reduce operational costs and increase their throughput
• The factors such as increased power generation capacities around the world and the increased use of nuclear and renewable energy for power generation is driving the growth of the DCS segment
• The U.S. is projected to dominate the global market over the forecast period owing to the presence of notable market players and the growth of industries such as healthcare, automotive, and manufacturing
• The market in China is expected to grow at a rapid pace, registering a CAGR of above 12.0% from 2019 to 2025
• The market is witnessing an increasing adoption of industrial robots to achieve accuracy and precision in the production, as well as to reduce the costs associated with labor and materials. The industrial robot component type segment is expected to grow at a rapid pace, with a growth rate exceeding 10.0% from 2019 to 2025.
• The manufacturing industry segment held a significant share in the market in 2018 owing to the presence of a large number of manufacturing plants and a booming manufacturing sector across the globe.
For Requesting a Sample Copy Please Visit @ https://www.grandviewresearch.com/industry-analysis/industrial-automation-market/request/rs1
Industrial Automation And Control Systems Market Segmentation
Grand View Research has segmented the global industrial automation and control systems market based on control system, component type, vertical, and region:
Industrial Automation & Control Systems Outlook (Revenue, USD Billion, 2014 - 2025)
Industrial Automation & Control Systems Component Type Outlook (Revenue, USD Billion, 2014 - 2025)
• Industrial Robots
• Control Valves
Industrial Automation & Control Systems Vertical Outlook (Revenue, USD Billion, 2014 - 2025)
• Aerospace & Defense
• Energy & Utilities
• Food & Beverage
• Mining & Metal
• Oil & Gas
Industrial Automation & Control Systems Regional Outlook (Revenue, USD Billion, 2014 - 2025)
• North America
• The U.S.
• Asia Pacific
• Latin America
• Middle East & Africa
Fill The Pre-Order Enquiry Form For The Report @ https://www.grandviewresearch.com/inquiry/774/ibb
About Grand View Research
Grand View Research is a U.S. & India-based market research and consultancy firm. It is headquartered in San Francisco. We provide business insights, syndicated research reports, and customized research reports to large as well as small and medium-scale enterprises. Our database features thousands of statistics and in-depth analyses on more than 45 industries. Grand View Research’s extensive database is used by Fortune 500 companies to understand the regional as well as the global business environment.
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist - U.S.A.
Email: Send Email
Address:Grand View Research, Inc. 201 Spear Street 1100 San Francisco, CA 94105, United States
City: San Francisco
Country: United States