Industrial Controls Market And Industrial Robotics Market is Expected to Reach USD 147.7 Billion Globally in 2019: Transparency Market Research
Albany, New York. USA (PRWEB) October 08, 2013 -- According to a new market report published by Transparency Market Research "Industrial Controls and Robotics Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2013 - 2019," the global industrial controls and robotics market was worth USD 102.02 billion in 2012 and is expected to reach USD 147.7 billion in 2019, growing at a CAGR of 5.6% from 2013 to 2019. Americas i.e. (North America and South America) was the largest market for industrial controls and robotics in 2012 due to re-engineering in the old industrial segment along with the adoption of new technologies and increasing demand for mass production.
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The market is driven by its growing use in application areas of discrete and process industries i.e. automotive, power, pharmaceutical, and semiconductors industries. Also, increased productivity of manufacturing companies, growing demand for customized products, and need for improved efficiency and precision are the factors encouraging deployment of these systems in the industries.
High initial investment, availability of low cost labors in emerging countries such as India, China, Indonesia, and need for skilled labors to operate the robots are some of the factors inhibiting growth of industrial controls and robotics market.
By product type, market has been segmented into - industrial control systems, field devices, and manufacturing execution systems (MES). Industrial control segment accounted for about half of the market share followed by field devices in 2012. Industrial control system is expected to maintain its leading position throughout the forecast period. Requirements for accurate precision and proper functioning of installed plants are the main factors flourishing growth of industrial control systems. Among all types of control systems, MES is expected to show fastest growth during the period of forecast. The demand for MES across end use industries is expected to grow owing to improved yield. Improvement in supply chain and inventory management also attracts most of the users to implement MES.
By end user industry, market is segmented into power, textiles, automotives, chemicals, printing and packaging, plastics, oil and gas, pharmaceuticals, food processing, semiconductors, OEMs of aforementioned industries and others. Automotive industry held largest market share in 2012 and is expected to maintain its leading position throughout the forecast period owing to increasing demand for productivity. Pharmaceuticals industry is expected to show strong growth during the period of forecast as industrial automation help increase efficiency and reduce time of various operations such as compounding, washing, labeling, packaging and filling.
Related Report : Medical Robotic Systems Market
http://www.transparencymarketresearch.com/medical-robotic-systems.html
Geographically, Americas held largest share in industrial controls and robotics market in 2012 attributed to re-engineering in the old industrial segment with adoption of new technologies in North America and heavy exporting of goods from South America. RoW is expected to show fastest growth during the period of forecast because of the growing demand for industrial robots and control systems in oil and gas industries in this region. Asia Pacific is also expected to witness robust growth during the forecast period fueled by heavy investment in power industry in this region.
Siemens AG and ABB Ltd. were leading providers of industrial control systems in 2012 and together held 26.2% of the entire Industrial control systems market. On the other hand Yaskawa and Fanuc Corporation were the major manufacturers of industrial robots and together held 44% share of the overall industrial robotics market. Other major players in the market include Yokogawa Corporation, KUKA Robotics, Emerson Electric Corporation, Rockwell Automation, Omron Corporation, Schneider Electric SA, and others.
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Sheela AK, Transparency Market Research, http://www.transparencymarketresearch.com, +1 518-618-1030, [email protected]
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