The automation and control market will witness a healthy growth from 2019 to 2025, a research report suggests. Growing at a CAGR of 10.41%, the market is projected to reach US$217,354.4 million by 2025. Favorable government policies are expected to support the market growth along with the growth of businesses and technology providers. As predicted by analysts, inevitable changes and risks will negatively affect the market’s performance from 2019 to 2025. During the forecast period, the automation and control market will be supported by adaptation to technology and the rise of IoT. Rapidly changing technological trends on the other hand will challenge industrial systems based organizations functioning in the global Automation and Control Market. Analysts have split the market into product, application, and region segments based on products and services. Industrial systems based companies have been profiled. Compatibility issues are set to affect the global automation and control market during the forecast period 2019 to 2025. The report also provides the market’s performance forecasts till 2025. Analysts have studied the strategy of industrial systems based organizations to help new entrants and established businesses. The industrial systems sector itself is supported by Industry 5.0 changes as well as a shift from manual assistance to automation. During the forecast period 2019 to 2025, the automation and control market is set to witness a health growth across product, application, and region segments as well as regional markets.
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Emerson Electric Co., Rockwell Automation, Bosch Rexroth AG, General Electric Company, KUKA AG, Stratasys Ltd, ABB Group, OMRON Corporation, Honeywell International, Inc., Yokogawa Electric, Dwyer Instruments, Inc., Fanuc Corporation, Endress+Hauser Management AG, Siemens AG, Ametek, Inc., Schlumberger Limited, Schneider Electric SE, and Mitsubishi Electric Corporation are key players of the global automation and control market.
Global Automation and Control Market: Segmentation
The industrial systems sector has seen growth across product, application, and region segments owing to a spurring rise in manufacturing sectors and developments in robotics and AI. To study the automation and control market, analysts have further segmented product, application, and region into product on the basis of data acquisition (SCADA), distributed control system (DCS) & remote terminal unit (RTU), human-machine interface (HMI), manufacturing execution systems (MES), programmable automation controller (PAC), supervisory control and programmable logic controller (PLC). The market is further segmented into application which is split into automotive & transportation, electrical & electronics, machine manufacturing, mining & metals, oil & gas, aerospace & defense, and others.
The segmental analysis presented in the report provides industrial systems based organizations insights into key growth factors such as the adoption of Industry 4.0 as well as challenges such as high installation costs the market will face from 2019 to 2025. Increased focus on economic diversification and the rise of Industry 5.0 are some of the key factors having an influence on industrial systems based companies, suggest analysts as per the automation and control market report. But the report also identifies high deployment and maintenance costs and the shortage of professional services as major threats companies in industrial systems will face till 2025.
The Global Automation and Control Market, by region, has been segmented into North America, Europe, Asia-Pacific, the Middle East & Africa, and South America. Europe accounted for the largest market share of 32.87% in 2019, with a market value of USD 41,242.5 million; the market is expected to register a CAGR of 8.8% during the forecast period. Asia-Pacific accounted for the highest CAGR of 12.75%.
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