The rapid adoption of industrial automation and control equipment can be attributed to the use of robotics in industrial control and the surge in labor costs.
Transparency Market Research, in a report, titled “Industrial Automation Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024,” offers sharp insights into the emergence, functioning, growth, and future of the global industrial automation market.
A comprehensive evaluation of the market for industrial automation has been provided in the report, which includes historical data, in-depth qualitative insights, market projections, vendor analysis, an assessment of the forces of supply and demand, stakeholder and value chain evaluation, and a review of technological breakthroughs and current trends. The latest research methodologies have been employed to arrive at objective and verifiable findings.
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By deploying factory automation, companies can achieve a reduction in assembly time, bring down production and labor costs, minimize human errors and accidents, and alter production schedules as and when needed. Recovering from the plight of the recession of 2008 and the recent economic downturn, a number of companies have begun making fresh investments in industrial automation.
The report studies the global industrial automation market on the basis of geography and an emphasis is given on four major segments: Europe, Asia Pacific, North America, and Rest of the World. The US is by far the largest market for industrial automation and remains the primary growth driver for the global market. Japan has been identified as a lucrative market for players within the industrial automation market. For decades now, traditional outsourcing hubs such as India and China have been boasting of cheap and easily available labor. However, the cost of labor has been increasing gradually, compelling companies to resort to industrial automation with the help of fully programmable industrial processes and industrial robots.
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Each of the geographical segments has been evaluated in depth to ascertain the leading region as well as the weakest link. Opportunities in store in the most promising regions have been identified in the report and the most strategic and practical way of capitalizing on those prospects have been suggested.
One of the prominent features of the report on the global industrial automation market is the evaluation of the competitive landscape. The top companies competing at a global, regional, and national level have been identified and carefully examined. Johnson Controls, Inc., Siemens AG, Emerson Electric Corporation, ABB Ltd., Rockwell Automation, Inc., Honeywell International, Inc., General Electric, Schnieder Electric, Mitsubishi Electric, and Yokogawa Electric Corporation are some of the leading players in the industrial automation market. Some of these players have been profiled in the report based on aspects such as company outlook, financial performance, recent events and developments, business strategies, and product and service portfolio.