LONDON--(BUSINESS WIRE)--The global industrial automation control market is expected to post a CAGR of over 5% during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Increasing focus toward smart factories will drive the demand for industrial automation control during the forecast period. Smart factories are rapidly becoming mainstream in the manufacturing sector to improve the overall efficiency and productivity of a plant. Furthermore, several factors including organizational realignments between information technology and operational technology and increasing complexity in supply chains are expected to promote the adoption of smart factories. Thus, the rising need to connect devices and machines efficiently with each other will lead to the rising popularity of smart factories, which, in turn, will drive the market growth.
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As per Technavio, virtualization of automation control systems will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect the market growth over 2019-2023.
Global Industrial Automation Control Market: Virtualization of automation control systems
Software including hypervisors are increasingly being used to virtualize industrial automation control systems. Virtualization offer key benefits including optimum resource utilization, smooth operation, and cost savings. In addition, the integration of different industrial automation systems including SCADA, PLC, and MES reduces the overall cost for the servers. Thus, increasing awareness about virtual software and flexibility achieved by deploying automation software is further expected to surge the demand for virtualization in the global industrial automation control market during the forecast period.
“The increasing need for open platform architecture for automation software and value-chain integration by automation solution providers are some other major factors that will boost the market growth during the forecast period,” says a senior analyst at Technavio.
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Global Industrial Automation Control Market: Segmentation Analysis
This market research report segments the global industrial automation control market by product (sensors, DCS, drives, SCADA, and PLC), end-user (process industry and discrete industry), and geographical regions (APAC, Europe, North America, South America, and MEA).
APAC led the market in 2018, followed by Europe, North America, South America, and MEA respectively. Factors including rapid industrialization and increasing investments in the power, water and wastewater treatment, and food and beverage industries in emerging economies of China, Japan, Australia, India, and South Korea are expected to drive market growth during the forecast period.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- 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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