The report provides an overview of the “Process Automation Market” industry including definitions, division, key vendors, key Development and market challenges. The Process Automation Market analysis is provided the international markets including development trends, competitive landscape analysis, and key regions development status
Through the statistical analysis, the report depicts the global Process Automation Market including capacity, production, production value, cost/profit, supply/demand and import/export. The entire market is further distributed by company, by country, and by application/type for the competitive landscape analysis.
Get a Sample Copy of the Report at – https://www.absolutereports.com/enquiry/request-sample/13999716
The Process Automation Market is expected to register a CAGR of over 7.23% during the forecast period 2019 – 2024. The Internet of Things (IIoT) and the Industrial 4.0 are dominating trends in the industrial sector, with machinery and devices being connected via the internet. The number of IoT connected devices rose to 20.35 billion in 2017 from 15.41 billion in 2015, and is expected to reach 51.11 billion by 2023, given the huge push from the investment of the technology providers through continuous research and development. To operate these increasing number of connected devices and machine-to-machine connection in the manufacturing industry, the need for control and supervision is expected to become more prominent; this can be attributed to the increase of network connected and controlled devices and systems.
The sales figures for industrial robots have increased almost four-fold since 2009. According to IFR, by the end of 2018, around 2.3 million units will be deployed on factory floors. Further, within the global markets, these adoption rates have been driven by highly automated emerging countries, and by regions that are already highly developed economically. For example, in Europe, the total sales figures for industrial robots in 2015 rose by 10% to 50,000 units, compared to the previous year, with Germany, Italy, and France as the strongest regional markets.
Asia is still the world’s strongest growth market. This region saw a total of 156,000 units sold in 2015 – a rise of 16%. With around 68,000 industrial robots sold, China alone surpassed the total market volume for Europe. Growth in China saw foreign-based robotic manufacturers profit with a 69% share of the total market. At the same time, domestic competitors have, by now, significantly expanded their market share to 31%. The robotics markets in South Korea and Japan continue to occupy second and third places in global sales behind China – followed by the United States and Germany.
It has been often observed that the availability of skilled workforce is low, especially in emerging countries, where the market is poised to witness high growth. A relevant aspect to the slow adoption of industrial IoT, particularly in the emerging economies of India, Brazil, and China is the small amount of professionals focused on the programming and operation of this equipment. This specialized workforce is mostly found in other segments of technology industries, a limiting factor to the development and implementation of IoT solutions in the country.
Additionally, many industries make use of legacy equipment that cannot connect to IP networks, which severely limits the adoption of IoT solutions. The country’s networks, on the other hand, do not provide the low latency required for the efficient operation of these devices.Moreover, the operations of DCS, PLC, SCADA, and MES are complex, and require a highly skilled workforce. Furthermore, initial investment associated with traverse from an assembly line through automated production line is expected to be high. Along with it, the cost involved in training the employees with the usage of the new sophisticated equipment is also added, which could be unaffordable for certain small- and medium-sized end users.
Scope of the Report
The automation industry has been revolutionized by the combination of the digital and physical aspects of manufacturing, aimed at delivering optimum performance. Further, the focus on achieving zero waste production and shorter time to market has augmented the growth of the market. Automation of manufacturing processes has offered various benefits, such as effortless monitoring, reduction of waste, and speed of production. This technology offers customers an improved quality with standardization and dependable products within time, and at a much lower cost.
The Process Automation Market report also presents the vendor countryside and a corresponding detailed analysis of the major vendors operating in the market. Process Automation Market report analyses the market potential for each geographical region based on the growth rate, macroeconomic parameters, consumer buying patterns, and market demand and supply scenarios.
Key Market Trends
Paper and Pulp Segment is expected to register a Significant Growth
The numerous processes in the paper and pulp industry requires the raw materials pass through a lot of process with close monitoring of temperature and chemical content and the process automation allows to achieve the same from one location through the process automation.The paper and related products have seen an increase in the past five years and the demand is expected to show similar trends with the increase in demand from Asian, North American, and European regions over the forecast period. All these regions are expected to further drive the demand in the paper and pulp industry for increased process adoption.
Process automation is also considered as primary level of automation, which allows the collection of data continuously and real time basis, this enables the industry to further use these systems for data visualization and predictive plant maintenance.The paper and pulp industry involves a number of steps for the conversion of wood into paper. Activities, such as wood preparation, bleaching, chemical recovery required high utilization of raw material, which can be better controlled, as automation helps in the efficient conversion of raw materials..
The production in the industry is also facing shortage, due to the presence of bottlenecks in production. A typical manual operator is the main bottleneck, which allows only about 60 rolls per hour of production, which can be improved by process automation and drive the growth over forecast period.
North America is Expected to have Highest Market Share
US manufacturing sector is the second-largest in the world, with a manufacturing value added (MVA) of nearly USD 2 trillion in 2016, representing close to 16% of global MVA and 12% of the country’s GDP.The United States is renowned for its innovation capabilities, and is at the forefront of prominent developments surrounding the emerging technologies of the Fourth Industrial Revolution.
According to WTO, the country’s share in global manufacturing value has declined over decades, from 29% in the early 1980s to 18.6% in 2015, with slower output growth than China, South Korea, Germany, and Mexico. Thus, the country is likely to turn toward process automation and smart manufacturing technologies, to enhance its production capabilities.
The formation of the ‘Advanced Manufacturing Partnership (AMP)’ is an initiative undertaken to make the automotive industry, universities, and the federal government to invest in the emerging technologies.This has substantially helped the country in gaining a competitive edge in the global economy. The National Network for Manufacturing Innovation (NNMI), which consists of developing regional hubs, is likely to be involved in developing and adopting cutting-edge manufacturing technologies for making innovative products, to be implemented in the manufacturing sector.
Enquire Before Purchasing this Report – https://www.absolutereports.com/enquiry/pre-order-enquiry/13999716
Reasons to Purchase this Report
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- Study on product type and application expected to dominate the market.
- Study on regions expected to witness fastest growth during the forecast period.
- Identify the latest developments, market shares and strategies employed by the major market players.
- 3 months’ analyst support along with the Market Estimate sheet (in excel).
Detailed Table of Content of Global Process Automation Market – Growth, Trends, Forecast and Challenges (2019 – 2024)
1.1 Study Deliverables
1.2 General Study Assumptions
2. Research Methodology
2.2 Analysis Methodology
2.3 Study Phases
2.4 Econometric Modelling
3. Executive Summary
4. Market Overview and Trends of Process Automation Market
4.2 Market Trends
4.3 Porter’s Five Force Framework
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products and Services
4.3.5 Competitive Rivalry within the Industry
5. Market Dynamics of Process Automation Market
5.1.1 Increasing Production
5.1.2 Rising Demand
6. Global Process Automation Market Segmentation, By Capacity
7. Global Process Automation Market Segmentation, By Material Type
7.1 Type 1
7.2 Type 2
7.3 Type 3
8. Global Process Automation Market Segmentation, Segmented by Region
8.1 North America
8.1.1 United States
8.1.3 Rest of North America
8.2.4 Rest of Asia-Pacific
8.3.1 United Kingdom
8.3.5 Rest of Europe
8.4 Rest of the World
8.4.2 South Africa
9. Competitive Landscape and Introduction of Process Automation Market
9.2 Market Share Analysis
9.3 Developments of Key Players
10. Key Vendor Analysis (Overview, Products & Services, Strategies)
10.1 Company 1
10.2 Company 2
10.3 Company 3
And Many More….
No. of Pages: – 100
Purchase this Report (Price 4250 USD for a single-user license) https://www.absolutereports.com/purchase/13999716
About Absolute Reports:
Absolute Reports is an upscale platform to help key personnel in the business world in strategizing and taking visionary decisions based on facts and figures derived from in depth market research. We are one of the top report resellers in the market, dedicated towards bringing you an ingenious concoction of data parameters.
Name: Mr. Ajay More
Phone: US +1424 253 0807/ UK +44 203 239 8187
Mail id: [email protected]