Automation and Control industry Industry, Key Players & Forecast Outlook 2027
Posted by sneha patil on February 27th, 2022
Global Automation and Control Industry spans across North America, Europe, Asia-Pacific, the Middle East & Africa, and South America.
The growing demand for automation and control in the robotics industry with developments in AI and the adoption of industry 4.0 across various industries are factors that are expected to drive the growth of the automation and control market during the forecast period. However, rapidly changing technological trends in the manufacturing industry are expected to hinder the market growth during the forecast period.
The geographic analysis of the Automation and Control industry Industry has been done for North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. Europe dominated the global automation and control market with a value of USD 41,242.5 million in 2019; it is estimated to grow at a CAGR of 8.81% during the forecast period. However, the Asia-Pacific region is estimated to witness the fastest growth at a CAGR of 12.75% during the forecast period 2020–2025. In North America, the US accounted for the largest automation and control market share in 2019. However, Mexico is expected to register the highest CAGR owing to the high demand for advanced manufacturing robotic technologies, government policies that favor factory automation, and an increased demand for intelligent and automated manufacturing systems in the country. In Europe, Germany accounted for the largest market share in 2019. However, the rest of Europe is expected to register the highest CAGR due to the high market penetration of automated driving technologies, government initiatives to improve production activities, and the focus on waste reduction in various industry verticals. In Asia-Pacific, China accounted for the largest automation and control market share in 2019 and the market in Taiwan is expected to register the highest CAGR due to the adoption of digital technologies, focus on reduced production costs, adoption of automation by industries to stay competitive in the market, government initiatives for digitalization, foreign direct investments for manufacturing, and the increasing demand for automation services such as project engineering to minimize maintenance costs and operational expenses. In the Middle East & Africa, Saudi Arabia accounted for the largest market share in 2019 and the rest of the Middle East & Africa is expected to register the highest CAGR due to the growing automotive and food industries and production plants of major automotive and component manufacturers adopting automation and control. In South America, Brazil accounted for the largest market share in 2019, whereas Argentina is expected to register the highest CAGR due to the digitization of the manufacturing industry in the country and increased global competitiveness.
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Emerson Electric Co., Rockwell Automation, Bosch Rexroth AG, General Electric Company, KUKA AG, Stratasys Ltd, ABB Group, OMRON Corporation, Honeywell International, Inc., Yokogawa Electric, Dwyer Instruments, Inc., Fanuc Corporation, Endress+Hauser Management AG, Siemens AG, Ametek, Inc., Schlumberger Limited, Schneider Electric SE, and Mitsubishi Electric Corporation are key players of the global automation and control market.
Global Automation and Control Market: Segmentation
Global Automation and Control Market have been Segmented Based on Product, Application, and Region. Based on the product, the market has been segmented into PLC, SCADA, PAC, DCS and RTU, HMI, and MES. By application, the market has been segmented into oil & gas, mining & metals, automotive & transportation, machine manufacturing, electrical & electronics, aerospace & defense, and others.
The Global Automation and Control Market, by region, has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. Europe accounted for the largest market share of 32.87% in 2019, with a market value of USD 41,242.5 million; the market is expected to register a CAGR of 8.8% during the forecast period. Asia-Pacific accounted for the highest CAGR of 12.75%.
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About the Authorsneha patil
Joined: December 28th, 2020
Articles Posted: 573
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