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APAC to be largest market for machine automation controller during forecast period

 



(IT-NEWSWIRE.COM, August 13, 2019 ) According to the new market research report "Machine Automation Controller Market by Controller Type (DCS, PLC, Industrial PC), Form Factor (IP65, IP20), Industry (Oil & Gas, Energy & Power, Food & Beverages, Chemicals, Automotive), and Geography - Global Forecast to 2024", the machine automation controller market is estimated to be worth USD 33.7 billion in 2019 and is expected to reach USD 41.5 billion by 2024, at a CAGR of 4.3% during 2019–2024. The major factors fueling the growth of the machine automation controller market include rising focus on reducing overall operational cost, increasing need to drive productivity in process industry, and growing use of robots in manufacturing sector.



Don’t miss out on business opportunities in Machine Automation Controller Market. Speak to our analyst and gain crucial industry insights that will help your business grow: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=108072008#emailwire



The market for DCS to grow at higher CAGR from 2019 and 2024



The machine automation controller market for DCS is expected to grow at the highest CAGR during the forecast period. DCS is integrated as a control architecture containing a supervisory level of control, overseeing multiple integrated subsystems that are responsible for controlling the details of a localized process. The unique ability of DCS to manage highly complex automation processes makes it ideal for companies with extremely large production setup. The installation of DCS in the process industry enables companies to reduce downtime and improve production using optimal resources. DCS helps plant operators improve effectiveness in operations, optimize maintenance routines at the plant level, and ensure safety and reliability.



Browse and in-depth TOC on "Machine Automation Controller Market"



66 - Tables

69 - Figures

171 - Pages



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https://www.marketsandmarkets.com/Market-Reports/machine-automation-controller-market-108072008.html#emailwire



Energy & power industry to dominate the machine automation controller market during the forecast period



The energy & power industry is expected to grow at the highest CAGR from 2019 to 2024. With the help of automation, power generation companies can automate critical processes related to electricity generation, transmission, and distribution, which, in turn, drives the demand for machine automation controllers in the energy & power industry. Increasing energy requirement with the growing population has resulted in the modernization of grids. The increasing adoption of smart and automated technologies in power distribution is opening new market growth avenues for machine automation controllers.



“APAC to be largest market for machine automation controller during forecast period”



APAC is expected to account for the largest share of the machine automation controller market in 2019 and the trend is anticipated to continue till 2024. The huge domestic demand for automated controllers has led to the establishment of manufacturing units of various industries, such as automotive, chemicals, food & beverages, and semiconductor & electronics. However, growing labor costs, rapidly evolving manufacturing processes, and increasing operational costs have resulted in companies operating adopting automation technologies to address the challenges effectively.



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Major players involved in the machine automation controller market include ABB (Switzerland), Emerson (US), Siemens (Germany), Schneider Electric (France), Yokogawa (Japan), Advantech (Taiwan), Delta Electronics (Taiwan), Honeywell (US), Mitsubishi Electric (Japan), Omron (Japan), Rockwell Automation (US), Robert Bosch (Germany), Beckhoff Automation (Germany), Kollmorgen (US), and Kontron (Germany).



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Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.



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