Global Market Research Reports : Ken Research: Robotics Manufacturing Companies

Showing posts with label Robotics Manufacturing Companies. Show all posts

Tuesday, October 18, 2022

3 Key Insights on ~US$ 450 Bn Opportunity in the Global Industrial Automation and Control Systems Market: Ken Research

Driven by Industry 4.0 and the quick transition of industries toward smart manufacturing have created enormous market prospects for the Global Industrial Automation and Control Systems Market which is forecasted to Cross ~US$ 450 Bn by 2028 says Ken Research Study.

Industrial automation uses technology and control systems, such as computers and robots, to complete activities that were previously completed manually. These solutions reduce the need for operator engagement and supervision by automating industrial equipment operations. Industrial automation control system solutions require smart devices for data gathering as well as secure infrastructures to enable communications and data transfers.

"Ken Research shares 3 key insights on this high-opportunity market from its latest research study."

1. Growing Demand for Automation, And Cutting-Edge, Integrated Technology Are Expected to Propel Market Growth

The ongoing need to increase profitability drives manufacturers to seek technologies that can increase productivity while requiring minimal resources. Industrial automation in this situation acts as a driver for improved dependability and efficiency and improves return on investment (ROI). Industrial automation reduces production costs while raising output rate and quality through the use of cutting-edge, integrated technology. It advances automation by replacing human work with computer programming and automation tools, producing a performance that is more efficient than manual operation.

According to Ken Research estimates, the Global Industrial Automation and Control Systems Market – valued at around ~US$ 150 billion in 2017 and estimated to reach nearly ~US$ 250 billion by 2022 – is further expected to grow to around ~US$ 450 billion opportunity by 2028.

2. The Demand for Automation and Industrial Controls Is Anticipated to Grow Due to The Increasing Need for Increased Productivity.

The increasing use of automation in industries is the primary driver of market growth for Industrial Automation and Control Systems. The market for industrial controls and factory automation is expanding as a result of an increasing demand to use higher technology equipment to achieve better results. Automation results in higher-quality products that are produced more economically, boosting the product's overall profitability margin. Energy can also be saved through automation. Furthermore, the demand for high yield and production, skills shortages, and increased emphasis on improving efficiency and accuracy to attain high yield and productivity are some of the other factors driving the growth of the factory automation & industrial controls market. The Asia Pacific is the largest region, such systems are increasingly being adopted in nations like India, Japan, China, and South Korea.

According to the International Federation of Robotics (IFR), in 2022 reported that with 243,300 installations in 2021, an increase of 44% from the year prior, the industrial robot’s market in China experienced significant growth.

3. The Market Growth Could Be Hindered by The High Initial Cost of Setting Up Automation Control Units.

The worldwide factory automation & industrial controls market may be constrained by factors such as the high initial cost of installing factory automation & industrial controls systems and a lack of understanding regarding the quality of completed products produced employing automation. In addition to this, the market may be constrained by the scarcity of qualified individuals who can install automation and control processes.

Cost estimates for each collaborative robot system might be between ~US$3,000 and ~US$100,000. Prices for an industrial robotic system vary from ~US$ 15,000 to ~US$ 150,000, making them much more expensive.

For More Information, refer to below link:-

Industrial Automation and Control Systems Outlook

North America Automated Guided Vehicles Market Outlook and Forecast to 2027 - Driven by Rising Demand for Automation in Material Handling, Enhanced Workplace Safety and Improved Productivity

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

support@kenresearch.com

+91-9015378249

3 Key Insights on Competitive Landscape in the Global Industrial Automation and Control Systems Market: Ken Research

Regional Players Dominate the Competition Comprising ~45% of Total Competitors Despite the Presence of about ~500 Competitors including Large Number of Country-Niche Players and Global Players, finds a recent market study on the Global Industrial Automation and Control Systems Market

“Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study.”

Global Players Constitute ~20% of the Total Number of Competitors, While Regional Players Dominate Representing ~45% of Total Competitors.

A comprehensive competitive analysis conducted during the Research Study found that the Global Industrial Automation and Control Systems Market is highly competitive with ~500 players, including globally diversified players, regional players, and a large number of country-niche players with their niche in advancement in Industrial Automation and Control Systems solutions for multiple industries like Aerospace & Defense, Automotive, Chemical, Energy & Utilities, Food &Beverage, Healthcare, and Manufacturing. The majority of the global Industrial Automation and Control Systems solution companies, including Schneider Electric, Rockwell Automation, Inc., Honeywell International Inc., Emerson Electric co., ABB, Mitsubishi Electric Corporation, Siemens, Omron Corporation, Yokogawa Electric Corporation, and General Electric Co. maintained their leading positions in the forecast period.

The majority of the country’s players offer end-to-end solutions to the customer and industries to refining, manufacture cosmetics, pharmaceutical, and polishing. Country Niche players seeking to grow and diversify quickly.

The Ongoing Efforts Of Leading World Specialists To Provide Industrial Automation And Control Systems To Multiple Industries Is Likely to Boost the Market.

Detailed comparative analysis of key competitors available within the Research Study shows that specialists like Rockwell Automation are strongly focused on providing important Industrial Automation and Control Systems that can be used across multiple industries, including Aerospace & Defense, Automotive, Chemical, Healthcare, and Manufacturing, and many more. The market is very competitive, and in order to boost its reach, leading companies are employing aggressive techniques like joint ventures, technological partnerships, and mergers and acquisitions. Key market players are also anticipated to concentrate on cost-cutting, which would make it challenging for new entrants to enter the market. However, it is anticipated that market penetration would be achieved through creative entrepreneurs supported by venture capital funding. As both private and public sector enterprises come to the inevitable understanding that automation is essential to producing integrated and sustainable products and services needed by tech-savvy firms, innovation, productivity, and value are presumed to grow.

Emerson in October 2022 introduced DeltaVTM IO.CONNECT, a new subscription software service made to assist plants with modernization by providing an open architecture pathway that enables the transition to more efficient control schemes without completely overhauling current infrastructure. This can cut the labor need for a complete rip-and-replace update by hundreds or thousands of hours and by up to 40% in a typical plant with tens of thousands of I/O points and several controllers.

Government Programs Expansion to Support the Growth of the Industrial Automation and Control Systems Market Worldwide

The People's Republic of China's 14th Five-Year Plan for National Economic and Social Development and Long-Range Objectives for 2035 was also approved by the National People's Congress (NPC) in March 2021. China's goal to enhance its core manufacturing capabilities, including high-end novel materials, smart manufacturing, and energy vehicles, is highlighted by the design.
The Indian government aims for the manufacturing sector's share of the GDP to expand from 17% to 25% through 2022. Businesses will definitely need to adopt Industry 4.0 and other digital technologies to achieve the goal.