Global Industrial Automation Market: Overview
The
global industrial automation market is emerging as an attractive investment
space for companies worldwide. The use of robotics in industrial control is an
already established trend. It has paved the path for the greater adoption of
industrial automation and industrial control equipment. However, the growth of
the industrial automation market could be beset with massive challenges in some
parts of the world considering that the process entails the replacement of
human labor with computers and machines.
The
increasingly lower need for human intervention in several industrial processes
is expected to jeopardize jobs and cause roadblocks in ambitious industrial
automation projects. However, with many new studies evidencing that industrial
automation could also create jobs in other ancillary sectors – such as in the
installation of automation systems, in after-sales services, and in developing
software for managing industrial automation – some of these concerns could be
allayed.
The
most commonly used components in industrial automation include actuators, flow
meters, proximity sensors, servo and DC motors, robotic arms, and industrial
communication systems.
Increasing
number of factory units are moving along the path of automation and the
presence of automation devices such as PCs, PLCs, and PACs will only become
more and more common in the near future. While the trend of industrial
automation stemmed from the developed countries in the west, it is now taking
industrial units in Asia and Latin America by storm. The report analyzes how
the global industrial automation market is increasingly swinging eastward and
the factors at play therein. To do this, the report makes use of reputable and
trusted analytical tools such as a SWOT analysis and Porter’s five forces
analysis.
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