Global Industrial Automation & Control Systems market report offers the latest industry trends, technological alteration and forecast data. A deep-dive view of Industrial Automation & Control Systems industry based on its size, growth, development plans, and opportunities is offered by this report. The forecast information, SWOT analysis, Industrial Automation & Control Systems barriers, and feasibility study are the vital aspects evaluated in this report.
The global industrial automation & control systems market size is estimated to reach USD 223.0 billion by the end of 2025 and is projected to grow at a CAGR of 8.6% during the forecast period 2019 to 2025, according to a new report by Million Insights. Growing demand for automation systems like DCS, SCADA, and PLC to optimize operational efficiency is projected to spur market growth. Several factors such as growing labor costs, precise manufacturing and accuracy in operation are gaining traction in the market. However, high installation cost may hinder the market growth.
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Rising spending on research & development with government support for transforming industry with industry 4.0 standards is driving market growth. For example, the government of the U.S. is aiming to invest in the development of industrial IoT and smart manufacturing, which is expected to bolster market growth in the next few years. In China, material and labor cost are rising, hence the industries are focusing on digitalizing manufacturing process to reduce operational costs. Government of China has set an aim by 2025 to transform high value producing product & services country under Made in China Initiative. This initiative is expected to bolster the market growth.
Automation and controlling systems include components like control valves, industrial robots, 3D printers, human-machine interfaces, field instruments and others. All these components possess huge demand from industries like manufacturing, oil & gas, automotive, and food & beverages. The automation systems are highly required in manufacturing industries. Automation systems enhance productivity and improve operational capabilities with reduced overall cost. All these key factors are anticipated to foster the industrial automation & control system market growth.
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