The global market for industrial automation is considerably fragmented due to the presence of various global and local players in the market. Transparency Market Research (TMR) observes that the top four players in the market has contributed to over 12.2% to the overall market in 2015. Due to technological advancements, prominent players are constantly focusing on integrating their products with advanced technologies.
Developing products that deliver functional transformation and commercial excellence is expected to be the key strategy of these players to stay competitive. Well known players in this market include Voith GmbH, Mitsubishi Electric Corporation, Rockwell Automation, Inc., Yaskawa Electric Corporation, General Electric Company, Emerson Electric Company, Yokogawa Electric Corporation, Toshiba Machine Corporation Ltd., Honeywell International Inc., FANUC Corporation, and ABB Ltd.
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Industrial automation is a process of using various control systems to employ and manage equipment in manufacturing units and factories. Industrial automation is being demanded to increase the manufacturing, production, and process efficiencies in the production of automotive assemblies, aircrafts, switching on telecom networks, steering and ship stabilization, heat treating boilers and ovens, machinery, and operating several factories.
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Furthermore, the increasing investments in research and development processes of industrial automation is expected to help in the expansion of the global market. Various industrial segments are adopting to these systems to reduce the labor burden on humans and eliminated human errors. These benefits delivered by automation processes are expected to boost the global market.
The introduction of various industrial automation solutions is fueling the market as the presence of several types of solutions allows manufacturing units to employ the most appropriate option for their system. The extensive research and development programs carried out by prominent players are most likely to bring introduce solutions in the market, further fueling the market growth.