Upgradation of Existing Systems Will Drive the Demand for Industrial Controls and Factory Automation Systems Through 2019, Says Technavio

According to the latest research study released by Technavio, the global industrial controls and factory automation market is expected to reach close to USD 154 billion in revenue by 2019.

This research report titled ‘Global Industrial Controls and Factory Automation Market 2015-2019’, provides an in-depth analysis of market growth in terms of revenue and emerging market trends. This market research report also includes up to date analysis and forecasts for various market segments and all leading regions.

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“The need to replace legacy automation systems with highly efficient automation solutions for process improvements is one of the primary drivers of this market. Automation solutions enable organizations to take fast and predictive maintenance steps that prevent plant operation failures and increase productivity. In today's business environment, cost controls have become an integral part of organizational strategy to stay ahead of competition. With many companies taking concrete steps to achieve maximum efficiency, the market will likely witness greater adoption of industrial controls and factory automation during the forecast period,” said Bharath Kumar, one of Technavio’s lead analysts for automation research.

“As most facilities, especially in the APAC region, run on outdated automation systems, there is a greater emphasis in the market to replace these with new and advanced ones. This trend is expected to generate immense demand for industrial controls during the forecast period and immensely benefit the leading vendors in the market,” added Bharath.

Segmentation of the global industrial controls and factory automation market in process industries

• Oil and gas
• Chemical
• Power
• Water and wastewater

Oil and gas

Oil and gas companies find it difficult to transfer information and data between fields. It therefore creates an imminent need for a single command center to control and monitor all fields of operations. It has led to the emergence of smart oil and gas fields that allow handlers to share real-time information and access controls. Also, as per the forecast, many companies are likely to invest in advanced industrial controls to make their existing systems smarter. This trend is further driving the demand for automation solutions, smart sensors, and other related software.

Moreover, complex terrain for exploration of oil and gas requires implementation of advanced monitoring systems in remote locations. As countries such as Norway, the US, the UK, the Netherlands, and Russia are expected to increase oil and gas exploration during the forecast period, the global industrial control devices market will immensely benefit from these developments throughout the forecast period.

Chemical

Europe emerged as the largest market and producer of chemicals during the early 1990s. However, over the years, APAC has garnered significant momentum and has expanded its market share. The emergence of China, South Korea, India, and Taiwan as major manufacturing hubs has also ensured robust market growth with a greater demand for industrial controls and factory automation in the chemicals segment. Stringent regulations regarding CO2 emissions and excess power consumption by countries worldwide is anticipated to surge the adoption of automation solutions in the chemical segment during the forecast period.

Power

Rising power shortage has led to the establishment of many thermal, nuclear, and renewable power plants across the globe. Power generation plants and smart grids require automation solutions, relays, and sensors for proper plant power distribution and maintenance. The power industry relies on automation as it helps in remote and hazardous operations. High power losses that take place during transmission and distribution are also a key reason for the adoption of automation solutions like supervisory control and data acquisition (SCADA) in the power industry. Effective implementation of industrial control systems not only reduces losses but also helps in the planning and control of the peak load demand effectively.

Water and wastewater

Increased scrutiny of regulatory bodies worldwide has made companies adopt automation to comply with the stringent regulations. Regulatory bodies, especially in Europe and North America, are particularly stringent toward effective treatment of sewage water and water recycling and purification with permissible impurity range. Water treatment involves the following processes:

• Primary treatment that enhances oxygen and removes large objects
• Secondary chemical treatment that facilitates flocculation
• Tertiary treatment that removes sludge by removal of water

The amount of particulate in each stage is specified by each country to be adhered by the water treatment plants in those regions. For example, the EU has formulated the Urban Waste Water Directive for water treatment. In water treatment plants, which helps follow stringent guidelines.

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About Technavio

Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.

Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.

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