According to BlueWeave Consulting, The Global Automation Market is expected to grow at a significant rate during the forecast period. The global automation market was approximately valued at USD billion in the year 2019 and is expected to generate a bulk revenue of around USD billion by the year 2025, by growing at a CAGR of around 6 % during the forecast period 2019- 2025. The market is growing due to several factors.
The global automation market is anticipated to show a considerable growth, particularly in the areas of artificial intelligence, 3D printing, and drones, each of which are projected to nearly double in generating revenues over the time span of three years till the year 2025.
Automation is now an essential factor to most of the modern industries, and that is the reason why the industrial software development is highly crucial to fields including engineering, tech, and scientific research.
The global automation market is regularly credited with a few advantages for mankind, for example, expanded profitability, decreased work serious work, higher benefits, and bettered security. Robotics and control frameworks are the most significant parts of automation, as the whole usefulness lays on them. People tend to bring fluctuation into their work. Manual work is regularly scrutinized for irregularity as the yield is totally subject to ordinary limit with respect to work.
Automation market is the direct inverse of this predicament, and gives items that carry consistency to ventures. The greatest automation market challenge is the underlying expense of speculation that is required for structuring, executing, and introducing a robotized framework.
The fixed automation segment from the type section holds a major share in the global automation market during the forecast period
By Type, the fixed automation segment accounts for the largest market share and is subsequently growing with an approximate value of ~10% CAGR during the forecast period 2019- 2025.
The SCADA segment from the technologies section holds a major share in the global automation market during the forecast period
By Technologies, the supervisory control and data acquisition (SCADA) segment holds the largest market share and is subsequently growing with approximately ~11% CAGR during the forecast period 2019- 2025. The growing demand for faster and higher production capacities is hugely propelling the market growth for automation.
The manufacturing segment from end-user section holds a major share in the global automation market during the forecast period
By End User segment, the manufacturing section holds the largest market share and is majorly growing with an approximate value of 7% CAGR by the end of the forecast period 2019- 2025. Currently, the manufacturing units are making the best use of the automated processes in order to meet with the faster production of goods. Automation in any trade now ensures faster production capacity along with faster delivery of goods. The automation process is highly necessary for the development of business.
The Asia Pacific region holds a lion’s share in the global automation market during the forecast period
Based on its regional demand, the Asia Pacific region is anticipated to hold the largest market share in the upcoming years in terms of revenue. The growth of the automation market is majorly accredited to the presence of the major industry players in this region including Daimler, and Renault. Major players making investments in the automation system is driving the market growth in the forthcoming years. This region will be the major contributor to the market growth during the forecast period.
Global Automation Market: Competitive Insight
The major industry players in the global automation market include prominent names like Mitsubishi Electric Corporation, General Electric, Rockwell Automation, and Yokogawa Electric, ABB, Honeywell Solutions, Emerson Electric, Siemens AG, Schneider Electric, among others.
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