22 February 2021
Visiongain has published a new report on Automation & Control Systems Market Report to 2031. Profiles of Leading Automation and Control Systems Market players, Regional and Leading National Market Analysis. PLUS COVID-19 Recovery Scenarios.
Global Automation and Control Systems Market Report Market was valued at US $XXX billion in 2019 and is projected to reach at a market value of US$XXX billion by 2030. The global Automation and Control Systems market has been growing significantly due to global shift towards automation, growing adoption of automation in healthcare, automobile, and other domains. Other factors such as the growing investment, and cohesive government policies will further benefit the automation and control system market. The rising adoption of robotics, cohesive government policies and technological advancement will create huge scope for the global Automation and Control Systems market. However, the high cost of Automation and Control Systems and security concern will act as a barrier to the growth of the market.
COVID-19 Impact on the Global Automation and Control Systems Market
The global Automation and Control Systems market was growing considerably before the COVID-19 pandemic. However, since January 2020, the situation was changed and most of the economies implemented stern lockdowns for months to contain the virus. The halt in production in manufacturing facilities in automobile, consumer electronics, healthcare, among others, impacted the global automation and control systems market. According to worldometers, over 58.6 million positive cases of COVID-19 were registered till 21st October 2020, around the globe with around 1.38 million fatalities.
Rising adoption robots in varied domains
Automation is increasingly adopted in varied domains such as automotive, manufacturing, healthcare, consumer electronics, among others due to optimization of production and ease of business. For instance, the auto industry is adopting various innovative robots for increasing the production and optimizing the profits. The 3D printing and the advanced technologies adopted in varied domains will drive the demand for the automation and control system market.
Technological advancement and innovation in Automation and Control Systems
Automation and control systems are revolutionizing the manufacturing units of automobile, consumer electronics, and healthcare. Additionally, the advent of Internet of Things (IoT), machine learning and Artificial Intelligence in automation and control systems market will create opportunities for the market.
Adoption of Cobots on rise
Industries around the globe are inclined towards robotics to increase production and optimize profits. For instance, developed regions such as the US has been automated for decades. The production of cars and trucks are done through large, hulking robots to increase production. Automakers and suppliers are adopting collaborative robots, known as cobots. Such devices are smaller and have dexterity and can be safely deployed with human operators.
Growing disposable income
Emerging economies such as China, India, Brazil, Korea, among other economies are contributing significantly into the growth of the global Automation and Control Systems market. The disposable income is increasing significantly and creating wide scope for the Automation and Control Systems market. The rising disposable income is further boosting the scope for the Automation and Control Systems.
Visiongain report covers detailed competitive landscape which includes overview of key players operating, extensive product portfolios, recent developments, among others. The key players contributing into the global Automation and Control Systems market ABB, Emerson Electric Co., Dell EMC, Honeywell International Inc., General Electric Healthcare, Kawasaki Heavy Industries, Ltd., Mitsubishi Electric Corporation, OMRON Corporation, Rockwell Automation, Inc., Eaton Corp. PLC, Schneider Electric SE, Legrand, Johnson Controls Inc., Siemens AG, among others. The global Automation and Control Systems market players adopt various strategies to milk the available opportunities in the market. Mergers & acquisitions, partnerships, collaborations, investments, new product launches, new product developments, among others, are the key strategies adopted by the market players.
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The rising adoption of robotics, cohesive government policies and technological advancement will create huge scope for the global Automation and Control Systems market. However, the high cost of Automation and Control Systems and security concern will act as a barrier to the growth of the market.
22 February 2021
The lead analyst of the report said, North America generated the highest revenue in 2020 accounting for $5.07 billion. There is a huge market for IoT security in North America. North American homes have the highest density of internet of things (IoT) devices of any region in the world, according to researchers at Stanford University and Avast.
23 March 2020
Generally speaking, cyber insurance provides companies or persons with economic security and covers against Internet-based risks. It helps to protect their assets and viability, and, unsurprisingly, costs far less than the price of shutting down business operations.
20 January 2020
Organisations are increasingly adopting IIoT for improved operational efficiency, improved uptime, and asset utilisation through predictive maintenance and remote management.