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Reduction of Operating Costs with the advent of IoT is expected to drive Automation Market.
HYDERABAD, TELANGANA, INDIA, September 20, 2022 /EINPresswire.com/ — IndustryARC, in its latest report, predicts that Automation Market is projected to reach $136.5 billion by 2026 growing at 3.7% CAGR during 2021-2026. Automation is a technology, which involves the usage of automated equipment or machines in various industries to reduce or eliminate human efforts, and increase the efficiency of work in a short period of time. In automation, the manufacturing and industrial sector is growing at a rapid rate and has led to the advancement of technology such as distributed production by factories and services, the implementation of autonomous plants, and the increasing use of remote operations to automate certain operations. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.
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Key Takeaways:
This IndustryARC report on the Automation Market highlights the following areas –
1. The use of the advanced software can help in providing flexibility in terms of programming, large memory capacity, better interoperability, and incorporates more features and functions that are suitable for industry applications.
2. The demand for PLC system is rising owing to its huge applications in complex automation having extensive process control requirements, network connectivity, device interoperability, enterprise data integration, and many more.
3. The adoption of SCADA in various industries has accelerated owing to its various advantage consisting of updating and upgrading through cloud, easy retrieval of files, and many more.
4. The use of the MES is observed in many industries such as pharmaceuticals, consumer packaged goods, automotive industry, and many others. The major driving forces for utilizing MES includes development in the production systems, modern logistic concepts, and advanced product development processes.
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Segmental Analysis:
1. Programmable logic control is an integration of PC and PLC in a single system to control various processes in industries and is projected to reach $15.9 billion by 2026. This controller comprises of two or more processors, PC-based software applications such as HMI (human machine interface) functions, asset management, historian, advanced process control (APC) and others with PLC capabilities.
2. APAC is among the major regions, which has been driving the Automation Market accounting for 36.2% share in 2020. In Europe, the number of rig count is decreasing drastically from year to year. The number of rig count decreased from 117 to 85 between 2015 to 2018. Even though, there was a decrease in rig count, technology development and implementation of automation has been increasing.
3. In the pharmaceutical industry, automation helps to ensure that a consistency is maintained in each batch of production. It also offers better control of the processes, providing an ability to monitor the processes from remote locations. This increases the demand of automation in the pharma industry. In the pharma industry, the usage of liquid handling robots to improve reproducibility and increase the validity of data in High Throughput Screening (HTS) is one of the developed technology.
Competitive Landscape:
The top 5 players in the Automation industry are –
1. Honeywell International Inc.
2. Siemens AG
3. ABB Ltd.
4. Emerson Electric Co.
5. KUKA AG
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https://www.industryarc.com/Report/18154/process-control-automation-market.html
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