TMR New Report Forecasts Steady Growth for Global Industrial Automation Market during 2016

The industrial automation market is expected from USD 108.80 Billion in 2015 to reach USD 153.30 Billion by 2024, at a CAGR of 4.88% between 2016 and 2024.

<p class="rtejustify"><!--StartFragment--><strong>Albany, New York, February 6, 2017: </strong>In today’s highly competitive market there is a huge demand for high quality and consistent products. To address this challenge, most of the industries are considering various new product designs and integrated manufacturing techniques in parallel with the use of automated devices. With the industrial automation, the global market has evolved to reduce the burdens of labor on humans. According to the latest study by TMR, titled “<a href="" target="_blank"><strong>Industrial Automation Market</strong></a> Global Industry Analysis 2016-2024” the market is in exceeding demand and also anticipated to expand at a CAGR of 6.6% during 2016-2024. This study has been recently added to the wide database of Market Research Hub (MRH) research offerings.</p>

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<p class="rtejustify">Firstly, the report covers the overall market snapshot to analyze its market trend and drivers that are highly contributing towards the growth of the market. In the global market, the report majorly highlights some of the key regions to analyze the value share and market attractiveness in each regional segment. Five geographical zones mentioned in the report are North America, Asia-Pacific, South America, MEA and Europe. At present, Europe holds the major share of the market. On the other hand, Asia Pacific is also anticipated to offer severe opportunities to the industrial automation market in the coming years with the rise in trade with North America and Europe.</p>

<p class="rtejustify">Due to rapid advancement in technology, all industrial processing systems, factories, machinery, test facilities etc. turned from mechanization to automation. Industrial automation is used for operating several factories, machinery, heat treating boilers and ovens, switching on telecom networks, air crafts and related applications. Also, the usage of robots in industrial controller instruments is an established trend. Moreover, the report is further segmented on the basis of automation type and industry. Various automation types are:</p>

    <li class="rtejustify">Product Lifecycle Management (PLM)</li>
    <li class="rtejustify">Distributed Control System (DCS)</li>
    <li class="rtejustify">Manufacturing Execution System (MES)</li>
    <li class="rtejustify">Supervisory Control and Data Acquisition (SCADA)</li>
    <li class="rtejustify">Computer Numerical Control (CNC) routers</li>
    <li class="rtejustify">Programmable Logic Control System (PLC)</li>
    <li class="rtejustify">Machine Vision System</li>
    <li class="rtejustify">Plant Asset Management</li>
    <li class="rtejustify">Human Machine Interface (HMI)</li>
    <li class="rtejustify">Electronic Control Units (ECU)</li>

<p class="rtejustify">Amongst, PLM segment held the largest share in the year 2014. Currently, strong growth in the CNC technology segment is driving the global growth of the industrial automation market, especially in the Asia Pacific and Europe region. Additionally, end-use industries for the market includes transportation, oil &amp; gas, chemical, metals and mining, hydropower, energy and power system etc. The global market for energy and power systems is one of the chief factors that are driving the demand for industrial automation industry universally.</p>

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<p class="rtejustify">In the next section, major players profiled in this report are ABB Ltd., Rockwell Automation, Inc., Honeywell International Inc., Mitsubishi Electric Corporation, FANUC Corporation, Yaskawa Electric Corporation, Emerson Electric Company, Toshiba Machine Corporation Ltd., Yokogawa Electric Corporation, General Electric Company and Voith GmbH.</p>

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<p class="rtejustify"><a href="" target="_blank"><strong>Market Research Hub</strong></a> (MRH) is a next-generation reseller of research reports and analysis. MRH’s expansive collection of Market research reports has been carefully curated to help key personnel and decision makers across industry verticals to clearly visualize their operating environment and take strategic steps.</p>

<p class="rtejustify">MRH functions as an integrated platform for the following products and services: Objective and sound market forecasts, qualitative and quantitative analysis, incisive insight into defining industry trends, and market share estimates. Our reputation lies in delivering value and world-class capabilities to our clients.</p>

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The industrial automation market is expected from USD 108.80 Billion in 2015 to reach USD 153.30 Billion by 2024, at a CAGR of 4.88% between 2016 and 2024.

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Feb 06, 2017