Albany, NY -- (SBWIRE) -- 12/08/2015 -- The increasing adoption of automation by factories in the US, China, and Germany has propelled the growth of the global industrial controls and factory automation market, which has resulted in a projected CAGR of more than 7% for the market. This automation market is implemented by all process and discrete industries.
In terms of geographical revenue contribution, the APAC region occupied the biggest market share with a share of close to 36% in 2014
Key industries like the oil and gas in the Middle East, chemical in Europe and China, automotive in China and US, water treatment in Europe have all shifted towards streamlining of their processes through real-time data gathering and control. This requirement has created demand for industrial control solutions such as DCS, SCADA, PLC, protective relays, electric drives, sensors, and MES.
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Product segmentation of the industrial controls and factory automation market
One of the major drivers propelling the growth of the SCADA segment is the increased need for central monitoring and control to improve plant efficiency. Technavio predicts the global SCADA market to surpass USD 19 billion by 2019, and the EMEA region will be the largest revenue generator for the SCADA systems during the forecast period.
Segmentation of the industrial controls and factory automation market by end-user
Process industries consist of four different types of industries, namely oil and gas, chemical, power, and water and wastewater. According to Technavios market research, the global industrial controls and factory automation market in the process industries is expected to reach USD 109.44 billion by 2019.
Competitive landscape and key vendors
Top vendors in this market are -
ABB is among the top vendors in the global industrial controls and factory automation market providing automation and power technologies to diverse industries, including utilities, transport, infrastructure, and other industries. Its products are sold in over 100 countries worldwide.
Key questions answered in the report include
What will the market size and the growth rate be in 2019
What are the key factors driving the global industrial controls and factory automation market
What are the key market trends impacting the growth of the global industrial controls and factory automation market
What are the challenges to market growth
Who are the key vendors in the global industrial controls and factory automation market
What are the market opportunities and threats faced by the vendors in the global industrial controls and factory automation market
What are the trending factors influencing the market shares of the Americas, EMEA, and APAC
What are the key outcomes of the five forces analysis of the global industrial controls and factory automation market
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