Global Industrial Automation Services Market 2020-2024
Technavio has been monitoring the global industrial automation services market since 2014, and the market is poised to grow by USD 12.77 billion during 2020-2024, progressing at a CAGR of nearly 6% during the forecast period.
The market is driven by the growing need for main automation contractors (MACs). Also, virtualization of automation control systems is anticipated to boost the growth of the industrial automation services market.
Growing complexities of automation systems are compelling end-users to opt for main automation contractors that can provide one-stop solutions for all their needs. MACs also offer various benefits, such as lowering the planning and implementation costs, maintain standardization across projects, and reduce the overall operational costs. MAC also works in tandem with various EPCs and third-party suppliers and offer technical and service competence. Thus, with many oil and gas companies focusing on large-scale projects, the need for MACs is expected to increase significantly over the forecast period.
Major Five Industrial Automation Services Companies:
ABB Ltd. owns and operates the business across various segments such as Electrification Products, Robotics and Motion, and Industrial Automation. The company offers a wide range of automation services for industrial equipment and processes. It includes spare parts, repair and maintenance, and training and partnership. These offerings enable improved productivity, cost reduction, and increased life cycle of systems.
Emerson Electric Co.
Emerson Electric Co. owns and operates the business across various segments such as Automation Solutions, Climate Technologies, and Tools & Home Products. The company offers a wide range of industrial automation services, such as Consulting Services, Project Services, Lifecycle Services, and Educational Services.
FANUC Corp. owns and operates the business through the Unified business segment. Though this segment, the company offers automation products and services such as robotics and computer numerical control wireless systems. The company also offers preventive maintenance service, maintenance parts warehousing, and call center services to its customers.
Honeywell International Inc.
Honeywell International Inc. owns and operates the business across various segments such as Aerospace, Honeywell Building Technologies, Performance Materials and Technologies, and Safety and Productivity Solutions. The company offers a wide range of automation services for process industries. Some of the services provided by the company include advanced software services, quality control system services, industrial cybersecurity solutions, distributed control system services, assessments, and engineering studies.
Mitsubishi Electric Corp.
Mitsubishi Electric Corp. owns and operates the business across various segments such as Energy and Electric Systems, Industrial Automation Systems, Information and Communication Systems, Electronic Devices, Home Appliances, and Others. The company offers a wide range of services for factory automation. Some of the services provided by the company include cloud computing, distributed control systems, linear transfer system, smart condition monitoring, and software solutions.
Industrial Automation Services Service Outlook (Revenue, USD Billion, 2020 - 2024)
Industrial Automation Services End-Users Outlook (Revenue, USD Billion, 2020 - 2024)
- Process industries
- Discrete industries
Industrial Automation Services Regional Outlook (Revenue, USD Billion, 2020 - 2024)
- North America
- South America
Related Reports on Industrials Include:
Global Industrial Wireless Automation Market – Global industrial wireless automation market by solution (field instrument and communication network), end-users (process industry and discrete industry), and geography (APAC, Europe, MEA, North America, and South America).
Global Automation Solutions Market in the Oil and Gas Industry – Global automation solutions market in the oil and gas industry by geography (APAC, Europe, MEA, North America, and South America) and product (SCADA, DCS, PLC, and MES).