LONDON--(BUSINESS WIRE)--Technavio analysts forecast the global industrial automation services market to grow at a CAGR of almost 6% during the period 2018-2022, according to their latest market research report.
The value chain integration by automation solution providers is one of the major trends being witnessed in the global industrial automation services market. The process industries have a large installed base for automation software and hardware. The growing demand for automation solutions has intensified the competition among established vendors. Some automation vendors are increasing their product lines by adding automation software and systems.
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In this report, Technavio analysts highlight the rising need for a main automation contractor as a key factor contributing to the growth of the global industrial automation services market:
Global industrial automation services market: Rising need for a main automation contractor
With automation systems becoming more and more complex on account of the growing requirements of end-users, the concept of MACs is increasingly becoming popular. Automation solutions are highly complex and require the integration of different systems that might not be fulfilled by a particular vendor. This compels end-users to opt for different automation control vendors with expertise in a particular field.
According to a senior analyst at Technavio for research on automation, “The MAC acts as a consultant and works with engineering, procurement, and construction companies to develop a plan that allows the smooth deployment of automation control systems. This reduces the planning and implementation costs, maintains standardization across various projects, and reduces cost.”
Global industrial automation services market: EMEA leads the market
This market research report segments the global industrial automation services market into the following end-users (process industries and discrete industries) and key regions (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major end-users, the process industries segment held the largest market share in 2017, contributing to over 60% of the market. This end-user segment will dominate the global market throughout the forecast period.
EMEA was the leading region for the global industrial automation services market in 2017. It accounted for a market share of approximately 35%. It was followed by the Americas and APAC. APAC is expected to project the fastest growth during the period 2018-2022.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market sizing
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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