Mexico Factory Automation and Machine Vision Market by Technology, Field Devices, Products to Reach $6.99 Billion by 2020 at CAGR of 6.18% – New Report by MarketsandMarkets
(PRWEB) August 25, 2014 -- According to a new market research report "Mexico Factory Automation and Machine Vision Market - Global Forecast & Analysis to 2013 - 2020", published by MarketsandMarkets, the Mexico factory automation & machine vision market is expected to grow $6.99 Billion at a CAGR of 6.18% from 2014 to 2020.
Browse 70 market data Tables and 96 Figures spread through 384 Pages and in-depth TOC on "Mexico Factory Automation and Machine Vision Market".
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The factory automation and machine vision is an emerging trend in the manufacturing organizations, providing smart manufacturing setup. Factory Automation provides cost efficiency, quality and standard production, reliability and flexibility in the production process. The factory automation and machine vision includes the perfect blend of technologies, products, mechanical components, devices and Information Technology. The emerging applications like Heating Ventilation Air Conditioning (HVAC) systems, Human Machine Interface (HMI) and electronic power distribution systems will further surge the demand of automation systems in the coming future.
The human being is continuously advancing the production processes from the inception industrial revolution in 18th century, as new technologies are stepping in. The factory automation find their applications in various discrete and process industries including industries like power, textiles, oil & gas, chemicals, food & beverages, pharmaceuticals, automotive & transportation, packaging, wood and others. The machine vision systems find their application in automotive, semiconductor & electronics, rubber & plastics, containers & packing, and medical devices. The manufacturers of the goods will have an additional benefit if they are shifting to the wireless technology in factory automation, as it will offer cost-efficient, feasible and flexible production environment.
The market for factory automation in Mexico is driven by the increasing focus on energy saving and efficiency improvement. The industrial control devices are making it possible for the organizations to smoothen their production activities also make them standardized, enabling cost cuttings and waste reductions. The Internet of things and services is to play crucial role in the factory automation market, as they facilitate improvement in the industry’s engineering, production, logistics and life cycle management as they integrate the factors of production. The organizations are surviving in the cut-throat competitive environment, where they are striving for having competitive edge over others in production process, and this has pushed the market to the incessant advancement. A smart camera-based system is the new improved machine vision technology which offers high accuracy and reliabilities. It contains an imager to capture images, intelligence (processor) to process and analyze images, and input and output capabilities. In other words, in a smart camera, all the components, right from cameras to processor and input-output devices, are embedded into a small box. Smart cameras are generally used for simple tasks and are very easy to operate. As compared to PC systems smart camera have more compact dimensions and lesser components and also are easy to implement and use.
The overall Mexico Factory Automation and Machine Vision Market is segmented on the basis of technology, field Devices, products, components and applications. All the major segments are further segmented into sub segments, with separate classification. The Mexico factory automation & machine vision market is expected to reach to $6.99 Billion by the year 2020 from $4.61 Billion in 2013, with a projected CAGR of 6.18%.
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The emphasis by market players on energy saving and efficiency improvement is driving the market, with other market driver factors proximity to the U.S., government impetus to manufacturing activities and shifting manufacturing base of automotive companies from China to Mexico.
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