Industrial Automation Services Market | Discover Top Segments, Trends, Drivers and Challenges
Market Segments and Growth Analysis 2021-2025
The industrial automation services market is expected to grow by $ 45.32 bn, accelerating at a CAGR of almost 15.40% during the forecast period. Technavio’s research report traces the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus.
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Industrial Automation Services Market: Market Segments and Growth Forecasts
This research report will provide insights into the current market share of each segment along with growth projections for the next five years.
- The report segments the market by End-user (Discrete industries and Process industries), Service (Project engineering, Maintenance and support, Operational services, and Consulting), and Geography (APAC, North America, Europe, MEA, and South America). Each market segment is analyzed for past performance leading to future growth projections based on current market scenario.
- The APAC region emerged as the leading segment in recent years. 55% of the market growth will originate from APAC during the forecast period. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the Industrial Automation Services Market size.
Industrial Automation Services Market: Top Trends, Drivers, Challenges to drive Market Recovery
The research report looks at the impact of various trends, drivers, and challenges for market growth during the forecast period. These insights will enable clients to design a growth strategy for their business and area of operations.
- Growing need for a main automation contractor will be a significant factor in driving the growth of the Industrial Automation Services Market.
- Increasing focus on predictive maintenance will be instrumental in driving the market growth during the forecast period.
- Interoperability issues is a challenge that needs to be overcome to persist on the path to growth and recovery from the impact of the pandemic.
Industrial Automation Services Market: Vendor Analysis
- The market is fragmented.
- The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
- ABB Ltd., Emerson Electric Co., FANUC Corp., Honeywell International Inc., Mitsubishi Electric Corp., OMRON Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Yokogawa Electric Corp. are some of the major market participants.
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The report provides insights into the following FAQs:
- What is the market CAGR?
The market is accelerate at a CAGR of 15.40%.
- What is the incremental growth of the market?
The market is expected to grow by $ 45.32 bn through 2021-2025.
- What is a key factor driving this market?
Growing need for a main automation contractor will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
APAC, North America, Europe, MEA, and South America are the key regions featured in this research report.
- Which is the leading geographic region for this market:
55% growth will originate from APAC
- Who are the leading market vendors?
The leading vendors in this market are ABB Ltd., Emerson Electric Co., FANUC Corp., Honeywell International Inc., Mitsubishi Electric Corp., OMRON Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Yokogawa Electric Corp.
- What are the market segments covered in this report?
The market is segmented by End-user (Discrete industries and Process industries), Service (Project engineering, Maintenance and support, Operational services, and Consulting), and Geography (APAC, North America, Europe, MEA, and South America)