The Maintenance Repair Operations (MRO) Market For Automation Solutions is being driven by Growth in outsourcing of operations
The Maintenance Repair Operations (MRO) Market For Automation Solutions is expected to grow at a CAGR of 9.8% during 2024 and 2029. During this period, the market is also expected to show a growth of USD 60906.5 million. In the realm of Maintenance Repair Operations (MRO) for automation solutions, service providers are leveraging advanced analytics and statistical models within their maintenance tools to enhance the decision-making process and proactively identify and rectify errors. Siemens, in collaboration with SAP, is developing an innovative open cloud platform specifically designed for industrial end-users. This platform harnesses the power of SAP's HANA Cloud Platform, renowned for its data analysis capabilities on an open platform. HANA has gained significant traction among end-users due to its ability to process and analyze vast amounts of data from machines and systems. Through the utilization of simulation and intelligent pattern recognition, potential errors are identified and addressed before system or product failure occurs.
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The market is segmented based on
According to Technavio, There are several factors that are causing the market to flourish during the forecast period, which are as follows:
However, the market also witnesses some limitations, which are as follows:
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Market Scope |
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Report Coverage |
Details |
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Page number |
236 |
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Base year |
2024 |
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Historic period |
2019-2023 |
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Forecast period |
2025-2029 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 9.8% |
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Market growth 2025-2029 |
USD 60906.5 million |
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Market structure |
market_structure.ucfirst |
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YoY growth 2024-2025(%) |
9.0 |
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Key countries |
US, China, Japan, India, South Korea, UK, Australia, Germany, Canada, and France |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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The MRO market for automation solutions in process and discrete industries is experiencing growth due to the implementation of vaccination drives and the focus on green energy production in the power industry. Key players include Air Works, Wesco, Sonepar, Rexel, Applied Industrial Technologies, and others. The market is fragmented, with a skilled workforce in high demand to install and maintain IoT-enabled MRO products, such as sensors and pumps. Raw material shortages, shipping delays, and economic slowdown pose challenges, while new technologies and safety standards drive innovation. MRO providers are adopting outsourcing strategies to address inventory needs and meet customer demands.
The global diversified support services market encompasses businesses offering labor-intensive services to corporations and governments. This sector comprises companies providing commercial cleaning, dining and catering, equipment repair, industrial maintenance, auctioneering, storage and warehousing, transaction services, uniform rental, and other business support solutions. According to Technavio, market expansion will be fueled by the rising outsourcing trend, as businesses increasingly delegate support functions to specialized providers. Additionally, sectors such as process industries, discrete industries, power, and green energy production will drive growth due to their inherent need for ongoing maintenance and repair operations.. Industries are leveraging the products belonging to the market for customer engagement, transactional notifications, and promotional offers.
Technavio Research
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