Press Release / Industry / Industrial Automation Services Market Size, Status and Forecast 2023

Industrial Automation Services Market Size, Status and Forecast 2023

Market Highlights
The global industrial automation services market is projected to witness a rapid growth during the forecast period owing high growth opportunities in emerging economies and rising adoption of automation techniques. Moreover, increasing demand for industrial automation services across various industry verticals such automation and transportation, metals and mining, oil and gas, energy and power system, chemical, material and food is likely to boost the market growth.
The global industrial automation services market by geography is segmented into North America, Europe, Asia Pacific, and Rest of the World. As compared to other regions, the industrial automation services market in North America is expected to witness a significant growth and hold the largest market share during the forecast period. The U.S and Canada are anticipated to drive the growth of the North American industrial automation services market owing to the presence of large number of established key players such as Honeywell International Inc. (U.S.) General Electric Company (U.S.) and Danaher Corporation (U.S.) in the region. Due to the high adoption of robots in the manufacturing unit and rising technological advancement in the region, the market is likely to show immense growth in the coming future. Additionally, North America also has a well-established infrastructure, which allows higher penetration of automation solutions and ultimately provides better productivity. Increasing need for innovations and advancements in the technology are other major factors responsible for the growth of the industrial automation services market.
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Some of the prominent players in the global industrial automation services market: Siemens AG (German),Honeywell International Inc.,(U.S.) General Electric Company (U.S.), Mitsubishi Electric(Japan), Rockwell Automation(U.S.), Johnson Controls Inc.(U.S.), Samsung Electronics Co., Ltd. (South Korea), Schneider Electric (France), Yokogawa Electric Corporation(Japan), OMRON Corporation (Japan), Danaher Corporation (U.S.) among others.
The global industrial automation services market is projected to reach USD 55.60 billion at a CAGR of over 10% by the end of the forecast period 2017-2023.
Market Segmentation:
The global industrial automation services market is segmented on the basis of solution, service, and end user. The end user segment is classified into automation and transportation, metals and mining, oil and gas, energy and power system, chemical, material and food. The demand for the product is increasing from the environment and building technologies, heavy industries, and other segments. The energy and power systems is one of the major factors driving the demand for the industrial automation industry across globe.
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North America is estimated to account for the largest share of the market, whereas Asia Pacific market is projected to grow at the fastest rate during the forecast period. The North American market is witnessing a rapid growth due to technological advancements and increasing demand for mobile application development platforms across different industry verticals in this region. The U.S. holds majority of the market share both in terms of revenue as well as adoption of mobile applications.
Intended Audience
• Technology Investors
• Research/Consultancy firms
• Technology Solution Providers
• Government Bodies
• Original Equipment Manufacturers
• Consulting and training service providers
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