Global Industrial Controls and Robotics Market to Reach Market Value Worth USD 147.7 Billion by 2019
Albany, New York (PRWEB) August 04, 2014
Industrial Controls and Robotics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013 - 2019, a report by US based market intelligence firm Transparency Market Research provides invaluable insights on the global industrial controls and robotics market. This market, which was worth USD 102.02 billion in 2012, is estimated to observe growth at the CAGR of 5.6% during the forecast period of the company, i.e., between 2013 to 2019 and rise to a market value worth USD 147.7 billion by 2019.
North America and South America combined to form the largest market for the industry in 2012 owing to the rise in adoption of new technologies, a rise in demand for mass production and re-engineering in old industrial segments. The report states that the global industrial controls and robotics market is observing significant growth in the current times. The growth of this market is driven by factors such as rise in the number of application areas of product manufacturing and processing industries such as power generation, automation, semiconductors and pharmaceutical companies.
Title: Industrial Controls and Robotics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013 - 2019
Published: 24 September 2013
Price: US$ 4,800.00
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Also, growing demand for precision and customization in consumer products and the constant need for quality improvement are some more factors that help in propelling the growth of this industry. Product wise, the report divides the market into segments such as - manufacturing execution systems (MES), field devices and industrial control systems. Of these segments, the segment of industrial control acquired about half the total shares of the market in 2012. This was followed by the field devices segment.
The report also states that chances of the industrial control system maintaining its lead in the market even in the future are quite high. The segment of manufacturing execution systems could observe the fastest growth during the forecast period, adds the report. Application wise, the report segments the market into automotives, textiles, power generation, printing, packaging, oil and gas, semiconductors and chemicals industries among some others. Of these, the segment of automotive industry currently leads the market and could also maintain the lead throughout the period of forecast. The pharmaceutical industry is, however, expected to observe the fastest growth in the coming times according to the report.
Geographically, the regions of North and South America lead the market. Their lead is attributed to factors such as rising adoption of new technologies, re-engineering in the old industrial segments and heavy export of goods from South America.
Browse the full Industrial Controls and Robotics Market report press release: http://www.transparencymarketresearch.com/pressrelease/industrial-robotics-market.htm.
The market segment RoW (rest of world) is expected to observe fastest growth during the forecast period owing to the rising demands for products and services in the oil and gas industries in this region. The regions of Asia Pacific, too, show significant growth opportunities for the global industrial controls and robotics market, adds the report. The reasons behind this could be heavy investments from market leaders in this region in the past few years.
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