According to Fortune Business Insights, depending on the type of components, the industrial automation and control systems market is divided into human-machine interfaces (HMI), control valves, sensors, and other equipment.
The control valve segment holds the largest share now and is expected to maintain its position during the forecast period. Specialists of SourceMe – industrial components marketplace, believe, that significant market share of control valves is attributed to their massive adoption in the oil and gas industry due to the benefits they offer in terms of pressure and temperature control during production, processing, and transportation operations.
In addition, the growing number of power plants around the world and the growing demand for energy in developing countries are expected to increase the demand for control equipment in the power generation sector. Annual growth in the instrumentation segment is expected to be around 9.5%.
Industrial robots market
This market segment is somewhat isolated and has its own statistics. This sector has its own leaders; forecasts for revenue growth slightly different from the rest of the market, so let’s look at this in more detail.
According to a study by Market Research Reports , industrial robots are most widespread in the Asia-Pacific region, in contrast to Eurasia and America, where the share of manual labor is still high, for example, in mechanical engineering. The Asian region accounts for more than half of the industrial robot market.
The industrial robotics market in the Asia Pacific region is expected to grow 13.39% in terms of robotics revenues, remaining the largest regional market in the world. Revenue will reach $ 97.0 billion by 2026. Annual shipments here will increase to 1.11 million units in 2026 from a CAGR in 2019-2026. 17.89%.
Revenue of the industrial robotics market in North America will reach 13.01 billion by 2026. CAGR for 2019-2026 will be 11.67%. It is expected that the annual increase in the volume of supplies in the same period will be 16.02%, increasing to 126.36 thousand units by 2026.
Revenue for the pan-European robotics market for 2019 is $ 373.47 million and will show a cumulative growth of 40.73% during 2020-2026.
Industrial robotics segment leaders:
- The Yaskawa Electric Corporation
- Midea Group (KUKA)
- The Fanuc Corporation
- Kawasaki Heavy Industries
Automation market growth drivers and constraints
Key market players are focused on acquisitions and cooperation in the implementation of new technologies that will improve the quality of manufactured products and reduce production costs.
In most cases, automation allows manufacturers to produce goods faster, with higher quality, and at less cost than manual operations, says Quality Magazine David Dechow, a chief vision architect at Integro Technologies.
The chapter is set on the Industry 4.0 concept, the introduction of which will allow consumers to more actively using industrial automation technologies, link all existing systems into a single production management system, which will make it possible to predict the need for repairs in advance and allow avoiding unplanned downtime.
On the agenda is the introduction of the Industrial Internet of Things (IIoT), using 5G wireless technologies.
It is the use of the latest technologies, according to analysts, that will become the main driver of the industrial automation market growth.
Smart robotics and automation are vital to address emerging consumer trends, product mix demand, or trade barriers, ”says Dr. Susanne Bieller, IFR General Secretary in a press release from the organization.  solutions open the way for greater flexibility in production.
Separately, it should be noted that the coronavirus pandemic will also become one of the growth factors for the automation market.
Before the pandemic, people might have thought we were automating too much, ”Richard Park, a professor at Clemson University who studies the psychological factors associated with automation, told the NY Times . This event will make people think about what else needs to be automated.
Market participants are expanding the capabilities of industrial control systems for use in industries such as transportation, mining, and metals, as well as aerospace and defense. Investment in industrial automation and robotics research and development is increasing significantly around the world. Thus, the evolution of digital industrial solutions is paving the way for the rapid growth of the automation and control market around the world.
The most deterrent factor for many enterprises, primarily defense enterprises, as before, will be the problem of cybersecurity. “Securing critical infrastructure is inherently complex, and we believe that research is needed to be an important part of understanding where the industry can improve as a whole,” said Mary Ramsey, CEO of ISA.
Brady is a Computer Networking Specialist.
For Help on VoIP Blog he is performing a computer network support work and is engaged in the operation and maintenance of the operability of computer networks, complexes, and systems based on hardware, software, and communication components of information technology.