According to the latest report by IMARC Group, titled “Industrial Automation Services Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025”, the global industrial automation market size reached a value of US$ 46 Billion in 2019. Industrial automation is the utilization of control systems and information technology (IT) for handling different processes and machinery in the industry. It assists in replacing human beings and undertaking services, such as designing, installation, maintenance and support. These services can manage a significant amount of unstructured data more efficiently. Industrial automation services are associated with numerous advantages, including accuracy, flexibility, high speed, quiet operations and low labor cost.
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Nowadays, numerous organizations are relying on industrial automation services as they standardize manufacturing, ensure fast production, supervise production in manufacturing plants, minimize waste, and increase overall dependency on manual labor. Additionally, the use of these services helps reduce the consumption of electricity and other resources, strengthening the growth of the market. Apart from this, leading key players are financing research and development (R&D) projects to bring innovation in different parts of the process. Looking forward, IMARC Group expects the market to reach US$ 76 Billion by 2025, expanding at a CAGR of 8.8% during 2020-2025
Market Breakup by Type of Service:
- Project Engineering and Installation
- Maintenance and Support Services
- Consulting Services
- Operational Services
- DCS
- SCADA
- PLC
- MES
- Others
- Discrete Industries
- Process Industries
- Siemens AG
- Honeywell International Inc.
- General Electric Company
- Mitsubishi Electric
- Rockwell Automation
- Johnson Controls Inc.
- Schneider Electric
- Yokogawa Electric Corporation
- OMRON Corporation
- Danaher Corporation
As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
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