Automation and Controls Market Scope
Automation and Control reduced human intervention by automating processes and enhance production rate and quality by integrating innovative and integrated technologies, thus reducing costs associated with the production process. Various industries incorporate technologically advanced automation solutions to offer enhanced agility and easy integration with IT applications. In addition, due to surge in domestic manufacturing and increased emphasis on process efficiency, the automation and control market is anticipated to grow rapidly during the forecast period.
|Unit||Value (USD Million)|
|Key Companies Profiled||Siemens (Germany), Emerson Process Management (United States), ABB (Switzerland), Rockwell Automation, Inc. (United States), Schneider Electric (France), Honeywell International Inc. (United States), Danaher (United States), Mitsubishi Electric Corporation (Japan), Yokogawa Electric Corporation (Japan) and Omron Corporation (Japan)|
Automation and control is a fragmented market due to the presence of large number of established competitors. The key players are highly focusing on developing and innovating new strategies to maintain their market position and customer base. The companies are also planning strategic activities like partnerships, collaboration, mergers, and acquisitions which will help them to sustain in the market and maintain their competitive edge. Research Analyst at AMA estimates that United States and Japanese Players will contribute to the maximum growth of Global Automation and Controls market throughout the predicted period.
Siemens (Germany), Emerson Process Management (United States), ABB (Switzerland), Rockwell Automation, Inc. (United States), Schneider Electric (France), Honeywell International Inc. (United States), Danaher (United States), Mitsubishi Electric Corporation (Japan), Yokogawa Electric Corporation (Japan) and Omron Corporation (Japan) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are General Electric (United States), Ametek Inc. (United States) and Endress+Hauser Group Services AG (Switzerland).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
The study have segmented the market of Global Automation and Controls market by Type , by Application (Residential, Commercial, Industrial, Manufacturing, Electronics & Electricals, Oil & Gas, Automotive & Transportation, Aerospace & Defence and Others) and Region with country level break-up.
On the basis of geography, the market of Automation and Controls has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2021.
Market Leaders and their expansionary development strategiesOn 6th October 2021, Siemens acquired Wattsense, a France-based hardware and software start-up company which offers an innovative, plug-and-play IoT management system for small and mid-size buildings. This move expanded Siemens building automation offering products portfolio.
On 2nd September 2021, Siemens signed a distribution partnered with Digi-Key Electronics to offer myriad of automation and control products. This partnership brings Siemens reliable, durable and easy-to-use products including human-machine interface (HMI) technology, power supplies, programmable logic controllers (PLCs) and heavy duty switches to Digi-Key customers around the world.
Influencing Trend:Advancements in Technology Leading to Increased Adoption of Automation & Control
Market Growth Drivers:Growing Demand for Automation and Control in Manufacturing Industry, Favourable Government Initiatives and Increased Investments in Industrial Automation and Increasing Demand for Operational Efficiency and System Integration
Challenges:High Initial Investment Costs in Installation of Hardware Tools
Restraints:Risks Associated with Integration and Compatibility of Legacy Systems
Opportunities:Emerging Applications of Automation and Control in Retail Industry
Key Target AudienceSolutions Providers, Small, Medium, & Large Enterprises, Government Agencies, Potential Investors, Research and Development Institutes, End User Industry and Others