The Industrial Automation Market - 2019
The global industrial automation market is set for a paradigm shift as end-user industries step up their investments to concentrate on expanding plant capacity with modular equipment and digital technologies. With a focus on digital transformation, there is an equal emphasis on improving reliability and efficiency of assets on site. Companies are investing in Industrial Internet of Things technologies, remote condition monitoring, and diagnostics to address unmet maintenance needs and emphasize predictive maintenance. Data has become the most strategic asset: success depends on how data is utilized. Automation majors have realigned their market strategies to capture opportunities offered by digitization.
Asset management subscriptions are on the rise. Critical asset class monitoring fetched higher-value subscriptions, while key value drivers have lowered the cost of monitoring non-critical asset classes. In addition, refurbishment of aging infrastructure, coupled with growth in the power generation, automotive, and food and beverage verticals, will intensify demand for industrial automation solutions. Digital play was more focused on hardware and software. As customer capabilities decline, the focus will shift to managed services. Automation vendors have started to develop strategies to enter the managed services market.
All automation vendors’ cash cows are control and sensor platforms. However, over the next decade, a shift will progress towards service-driven monetization.
From a geographical perspective, the Asia-Pacific region will continue to be the largest market, driven by the economic growth in nations such as India and Indonesia.
A total of 21 companies were analyzed and evaluated for the growth and innovation leadership. The Market Radar reveals the market positioning of companies in an industry using their Growth and Innovation scores as highlighted in the Market Radar methodology. The document presents competitive profiles on each of the companies in the Market Radar based on their strengths, opportunities, and a small discussion on their positioning. The publisher analyzes hundreds of companies in the industry and benchmarks them across 10 criteria on the Market Radar, where the leading companies in the industry are then positioned. Industry leaders on both the Growth and Innovation indices are recognized as best practice recipients.