Albany – NY, Oct. 21, 2015 (GLOBE NEWSWIRE) — The global industrial automation services market is predicted to grow at a CAGR of around 11% during the forecast period. The need for automation in manufacturing plants to boost productivity, especially in the oil and gas, power, chemical and petrochemical, and automotive industries is driving the high growth of the market.
High labor costs in countries like China are also driving the growth of the industrial automation services market. During 2012, China accounted for nearly 16% of the global manufacturing output. Due to the increase in labor costs, China’s market share decreased in the following years. To mitigate the high labor costs and improve productivity, automation companies in the region are adopting IoT and cloud-enabled automation.
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This report covers the present scenario and the growth prospects of the global industrial automation services market for 2015-2019. To calculate the market size, the report considers revenue generated from the services, products, and end-user industries.
Technavio’s report, Global Industrial Automation Services Market 2015-2019, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects in the coming years. The report includes a discussion of the key vendors operating in this market.
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Key regions
- Americas
- APAC
- EMEA
Key vendors
- ABB
- Honeywell International
- Rockwell Automation
- Siemens
Key market driver
Need for operational efficiency
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Key market challenge
High cost of automation
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Key market trend
Demand for industrial automation services from APAC
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Key questions answered in this report
- What will the market size be in 2019 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
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