Albany, NY -- (SBWIRE) -- 11/30/2016 -- Global Industrial Controls and Robotics Market: Snapshot
Industrial controls and robotics systems comprise automation and instrumentation equipment, which helps in controlling and monitoring several processes within industries. The growing need to enhance productivity and reduce variable cost are the key factors driving the demand for industrial controls and robotics. Moreover, the need to enhance efficiency and precision and the growing demand to increase productivity are estimated to fuel the growth of the global industrial controls and robotics market in the next few years. The growing inclination of consumers towards customized products is likely to generate promising opportunities for players in the global market.
In 2013, the global market for industrial controls and robotics was valued at US$106.6 bn and is estimated to reach a value of US$147.77 bn by the end of 2019. The market is anticipated to register a healthy 5.58% CAGR between 2013 and 2019.
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Rising Need of Automation in Diverse Applications to Fuel Global Market
The global industrial controls and robotics market can be classified on the basis of end use into semiconductors, food processing, mining, printing and packaging, oil and gas, automotive, petrochemicals, OEM's, power, pharmaceuticals, plastics, precision and optics, and metals. Among these, the automotive segment is expected to grow at a fast pace in the coming years and account for a key share of the global market. On the other hand, the semiconductor and pharmaceutical industries are anticipated to register a steady growth throughout the forecast period.
Technological developments in the market are expected to encourage the growth of the overall market in the near future. In addition, the industrial controls and robotics offer system integrators in order to create entire automation in different systems. The growing demand for mass production and the rising need for safety at a workplace are also identified as crucial elements fueling the demand for industrial controls and robotics in diverse applications.
Asia Pacific to Maintain Dominance in the Global Industrial Controls and Robotics Market
From a geographical viewpoint, Asia Pacific is expected to lead the global industrial controls and robotics market and reach a value of US$50.55 bn by the end of 2019. The growing demand for industrial controls and robotics in diverse industries, including packaging, food, printing, and textile industries is likely to encourage the growth of this region in the coming years. Additionally, the heavy investments in the power industry are projected to contribute extensively towards the development of the overall market. In Asia Pacific, China is considered as a key contributor for the growth of the market.
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Furthermore, the Americas is predicted to follow Asia Pacific and witness substantial growth in the coming years. By the end of 2019, the Americas is likely to account for a 31.80% share in the global industrial controls and robotics market. The rising focus on technological developments and the increasing number of players in the region are anticipated to encourage the growth of the market in the Americas. Europe and Rest of the World are expected to witness healthy growth in the global industrial controls and robotics market in the next few years.
Some of the leading players operating in the global market for industrial controls and robotics are FANUC Corporation, Omron Corporation, Siemens AG, Toshiba Machine Corporation Ltd., Invensys PLC, Denso Wave Incorporated, Honeywell International, ABB LTD, Rockwell Automation, Inc., General Electric Corporation, Emerson Electric Corporation, Kawasaki Robotics, Yokogawa Electric Corporation, and Schneider Electric SA.