“Machine automation controller market to exhibit stable growth during 2019 and 2024”
The machine automation controller market is estimated to grow from USD 33.7 billion by 2019 to USD 41.5 billion by 2024, at a CAGR of 4.3% during 2019–2024. The key factors driving the growth of the market include the increasing focus on reducing the overall operational costs, the need to drive productivity in manufacturing industries, and growing use of robots & robotics in the manufacturing sector. However, high initial capital investment for SMEs and difficulty in finding system failure results in increasing the downtime, which in turn is expected to restrain the growth of the market.
“DCS to witness high growth potential during the forecast period”
The market for DCS is expected to grow at a higher CAGR from 2019 to 2024. Reduced downtime and improved production using optimal resources have resulted in driving the demand for DCS. DCS helps plant operators in improving the effectiveness in operations, optimizing maintenance routines at the plant, and ensuring safety & reliability.
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“Energy & power to witness the highest growth rate during the forecast period”
The machine automation controller market for the energy & power industry is expected to grow at the highest CAGR from 2019 to 2024. Increasing energy requirement with the growing population has resulted in the modernization of grids where old grid equipment is being replaced with advanced setups that consist of smart grids, automated substation, and smart meters, among others. The increasing adoption of smart & automated technologies in power distribution is opening new market growth avenues for machine automation controllers.
“APAC to be the largest market for machine automation controllers during the forecast period”
APAC is expected to lead the machine automation controller market, in terms of size, between 2019 and 2024. Factors such as the establishment of manufacturing units of various industries including automotive, chemicals, food & beverages, and semiconductor & electronics; the increasing need to upgrade legacy automation systems; and rising labor rates are driving the growth of the machine automation controller market in the region. The countries such as China, Japan, and South Korea are leading the growth of machine automation market in the geography.
Break-up of the profile of primary participants for the report is given below:
- By Company Type – Tier 1 – 50%, Tier 2 – 30% and Tier 3 – 20%
- By Designation – C level – 30%, Director level – 45%, Manager level – 25%
- By Region – North America - 42%, Europe – 32%, APAC – 21%, RoW – 5%
The key players in the market include Yokogawa (Japan), ABB (Switzerland), Siemens (Germany), Schneider Electric (France), Emerson (US), Advantech (Taiwan), Honeywell (US), Delta Electronics (Taiwan), Mitsubishi Electric (Japan), Rockwell Automation (US), Omron (Japan), Robert Bosch (Germany), Beckhoff Automation (Germany), Kontron (Germany) and Kollmorgen (US).
The global machine automation controller market has been segmented based on controller type, form factor, industry, and region. The market based on controller type has been segmented into distribute control system (DCS), programmable logic controller (PLC), and industrial PC. Based on the form factor, the machine automation controller market has been split into IP65, IP20, and Others. The industries that are included in the study of machine automation controller market include oil & gas, energy & power, food & beverages, chemicals, pharmaceuticals, metals and mining, pulp and paper, automotive, aerospace & defense, semiconductor & electronics, medical devices, and others. The machine automation controller market has been segmented into four regions, namely, North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).
Reasons To Buy the report:
- Illustrative segmentation, analysis, and forecast for markets based on controller type, form factor, industry, and region have been conducted to give an overall view of the machine automation controller market.
- The value chain analysis has been performed to provide an in-depth insight into the machine automation controller market.
- Major drivers, restraints, opportunities, and challenges for the machine automation controller market have been detailed in this report.
- The report includes a detailed competitive landscape along with key players, in-depth analysis, and revenue of key players.