Automation & Process Control is a method used to control various process across industries with the help of controllers, interconnected sensors and others devices. The ultimate aim of automation & process control is to reduce the time as well energy thus, maximizing the enterprise profit. Considering the growing automation across industry verticals, there has been a huge opportunity for a service provider to flourish in the market.According to AMA, the market for Automation & Process Control is expected to register a CAGR of 6.53% during the forecast period to 2024. This growth is primarily driven by Growing Industrial Automation in a Bid to Increase Supply to Cater Demand Caused by Population Influx and Adoption of IOT and Machine To Machine Technologies.
Globally, a noticeable market trend is evident Growing Adoption of AI and Robotics
. Major Manufacturers, such as Rockwell Automation Inc (United States), Honeywell International Inc. (United States), ABB Ltd (Switzerland), General Electric Company (United States), Emerson Electric Company (United States), Dassault Systems SE (France), Autodesk Inc. (United States), Mitsubishi Electric Corporation (Japan), Siemens AG (Germany), Aspen Technology Inc. (United States), Robert Bosch GmbH (Germany), Texas Instruments Inc. (United States) and Johnson Controls International PLC (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
- Growing Industrial Automation in a Bid to Increase Supply to Cater Demand Caused by Population Influx
- Adoption of IOT and Machine To Machine Technologies
- Growing Adoption of AI and Robotics
- Focus on enhancing security with Incorporation of technologies such as Machine learning, AR and VR
- High Cost of Installation of These System
- Lack of Standardization and Uniform Technologies
Emergence of industry 4.0 and Stringent regulatory guidelines and Need for Compliance Adherence
Lack of Skilled Workforce for preventing Enterprise to go for Full-Scale Adoption of Factory Automation and Risk of Security and Potential Data Breach
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