VANCOUVER, Sept. 27, 2023 (GLOBE NEWSWIRE) — Global Industrial Automation Services Market According to the latest analysis by Emergen Research, the size is expected to reach US$464.15 billion in 2032 and register a revenue CAGR of 8.8% during the forecast period. The growing emphasis on worker safety can be attributed to the steady market revenue growth. The use of automation technologies in industrial processes is becoming increasingly important for both worker and equipment safety. Automation has made it possible for companies to develop systems that can identify potential risks before they occur, enhance safety protocols, and protect employees in dangerous situations.
The benefits of incorporating this technology into the workplace are obvious, but it may take some time for industrial automation to be adopted for better safety outcomes. Manufacturers should begin by carefully evaluating the unique needs and hazards of their facility to choose the automation technology that will best suit their operations. It’s a good practice to start by identifying labor-intensive, repetitive jobs as these are excellent candidates for automation.
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Market revenue growth is expected to be hampered due to difficulties in handling various contracts. For each small device or component, most end-user industries wish to choose a long service contract from a single service provider. Instruments and automation tools used in plant facilities are sold by many automation providers. Thus, hardware and software for automation have separate manuals for service and maintenance. Furthermore, through interacting with operators and understanding the requirements for applications, the development of automation software and hardware has focused on creating domain-specific engineering approaches. However, since domain-specific engineering approaches often ignore operations and maintenance aspects, servicing is more difficult for automation service providers.
scope of research
|Market size in 2022||198.80 billion US dollars|
|Revenue estimates till 2032||464.15 billion US dollars|
|base year for estimation||2022|
|quantitative units||Revenue in USD billion and CAGR in % from 2023 to 2032.|
|report coverage||Revenue forecasts, company rankings, competitive landscape, growth factors and trends.|
|segments covered||Service type, product type, end use and sector.|
|regional scope||North America; Europe; Asia Pacific; Latin America; Middle East and Africa.|
|country scope||North America, Europe, Asia Pacific, LATAM, MEA|
|Profile of Major Companies||Siemens AG, Honeywell International Inc., General Electric Company, Mitsubishi Electric, Rockwell Automation, Johnson Controls Inc., Schneider Electric, Yokogawa Electric Corporation, Omron Corporation, Danaher Corporation|
|scope of customization||10 hours of free customization and expert consultation.|
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Major companies and competitive landscape
The global industrial automation services market is consolidated, with a few large and medium-sized players accounting for the majority of the market revenue. Key players are implementing various strategies, entering into mergers and acquisitions, strategic agreements and contracts, developing, testing and introducing more effective industrial automation services. Some of the key players included in the global Industrial Automation Services market report are:
- Siemens AG
- Honeywell International Inc.
- General Electric Company
- mitsubishi electric
- Rockwell Automation
- Johnson Controls Inc.
- Schneider Electric
- Yokogawa Electric Corporation
- Omron Corporation
- Danaher Corporation
- On March 1, 2021, Accenture agreed to purchase Pollux, a Brazilian company headquartered in Joinville that provides industrial robotics and automation solutions. The purchase will enhance Accenture’s capabilities for clients in the consumer goods, pharmaceutical and automotive industries who want to increase the efficiency, sustainability and safety of their factories, plants and supply chains. Process optimization for manufacturing and logistics is offered by Pollux. Businesses build, engineer, and deploy fully operational assembly lines, including robots, other gear, and the software that manages it. Additionally, Pollux offers robots-as-a-service for shop floors and warehouses, autonomous mobile robots, and visual analytics inspection solutions.
- On July 11, 2023, ThyssenKrupp Industries India and Valmet have entered into a partnership agreement for the marketing and distribution of process automation solutions for the energy industry as well as process industries including sugar, fertilizers, petrochemicals and metals in India and other countries. The initial phase of the relationship, which will last eight years, will focus mostly on work billed through ThyssenKrupp. Both businesses seek to provide top-notch control and automation solutions using their unique strengths and skills. This will help them build a strong portfolio of industrial automation solutions in the context of Industrial Internet of Things (IIoT) 4.0.
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Some highlights of the report
- The project engineering and installation segment is expected to register a rapid revenue growth rate in the global market during the projected period. These include preparation, scheduling, coordination and monitoring of assigned engineering projects; Adhering to all applicable codes, procedures, quality assurance/quality control (QA/QC) guidelines, performance requirements and specifications; Interacting with customers daily to learn about their needs and expectations; Managing the overall quality of work budgets, timelines, plans and employee performance and providing regular updates on project progress reports.
- The distributed control systems (DCS) segment is expected to account for the largest revenue share in the global market during the forecast period. Distributed control system (DCS) is an industrial control system that uses geographically dispersed control loops inside a plant, machine, or control area. The primary duty of DCS is to regulate industrial processes to improve their reliability, efficiency and safety. A control system is made up of several mechanical or electrical parts that work together to regulate other parts or systems through control loops. All hardware and software control activities required for measurement and adjustment are included in a system known as the control loop. Control systems form the core of industrial and process automation systems.
- Industrial automation services market in North America is expected to account for the largest revenue share in 2022 due to increasing partnership activities in this region. For example, Honeywell announced the opening of an Industrial Automation Lab in partnership with the Department of Automation and Computer Science at the University Politehnica of Bucharest, aimed at providing students with the technical skills and knowledge needed to enter, compete and succeed on a global scale. To help in achieving. Industrial Automation Sector. Students have the opportunity to test their understanding of the most advanced industrial automation technologies in the laboratory, which is Honeywell’s third at the college in the past two years. One of them is Honeywell’s ControlEdge Programmable Logic Controller (PLC), which, combined with the Honeywell Experian Process Knowledge System, can reduce risk, minimize downtime and reduce total cost of ownership by using inbuilt cybersecurity. Could.
For the purpose of this report, Emergen Research has broken down global Industrial Automation Services Market Based On service type, product type, end useAnd areas:
- Service Type Outlook (Revenue, USD billion; 2019–2032)
- Project Engineering and Installation
- Maintenance and Support Services
- consulting services
- operational services
- Product Type Outlook (Revenue, USD billion; 2019–2032)
- End-use outlook (revenue, USD billion; 2019–2032)
- isolated industry
- process industry
- Regional Outlook (Revenue, USD billion, 2019–2032)
- North America
- rest of Europe
- Asia Pacific
- South Korea
- Rest of APAC
- Latin America
- rest of latam
- Middle East and Africa
- Saudi Arab
- United Arab Emirates
- rest of the Ministry of External Affairs
- North America
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