The "Industrial Automation Services Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026" report has been added to ResearchAndMarkets.com's offering. The global industrial automation services market reached a value of US$ 47.4 Billion in 2020.
Looking forward, the publisher expects the global industrial automation services market to grow at a CAGR of 9.20% during 2021-2026. Industrial automation services use control systems like robots or computers and information technology to handle different processes and operate machinery. These services control and regulate processes such as designing, installation, maintenance and support. Industrial automation services can manage a large amount of unstructured data more efficiently than manual handling.
Automation ensures fast production, reduces costs, checks product quality, standardizes manufacturing, minimizes waste and supervises production in manufacturing plants. It also offers various benefits like improved accuracy, lowered labor cost, flexibility, high speed and quiet operations. Numerous organizations are opting for automation services as they reduce the dependency on manual labor and ensure a faster pace for mass production. Moreover, the use of industrial automation services enhances the speed of production processes. As a result, it reduces the consumption of electricity and other resources, thereby making the manufacturing process less expensive.
Another major growth-inducing factor for the market is the consistent demand for efficient automated systems. In line with this, several companies are investing to facilitate research and developmental activities for these services. Apart from this, due to a significant increase in industrialization and urbanization, the need to automate repetitive tasks and streamline the business process has also been increasing across different industries.
Companies mentioned
- Siemens AG
- Honeywell International Inc.
- General Electric Company
- Mitsubishi Electric
- Rockwell Automation
- Johnson Controls Inc.
- Schneider Electric
- Yokogawa Electric Corporation
- OMRON Corporation
- Danaher Corporation
Key questions answered in this report
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How has the global industrial automation services market performed so far and how will it perform in the coming years?
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What has been the impact of COVID-19 on the global industrial automation services industry?
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What are the key regional markets in the global industrial automation services industry?
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What is the breakup of the market based on the type of service?
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What is the breakup of the market based on the product type?
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What is the breakup of the market based on the end-user?
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What are the various stages in the value chain of the global industrial automation services industry?
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What are the key driving factors and challenges in the global industrial automation services industry?
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What is the structure of the global industrial automation services industry and who are the key players?
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What is the degree of competition in the global industrial automation services industry?
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What are the profit margins in the global industrial automation services industry?
