INDUSTRIAL AUTOMATION AND CONTROL SYSTEMS MARKET ANALYSIS

Market Challenges And Opportunities

Global Industrial Automation and Control Systems Market Drivers:

Convergence of IT, OT, and M2M systems to propel the market growth

The management of industrial technology has always been between Operation Technology (OT) and Information Technology (IT). IT focuses more on a top-down approach, and thus deploys and maintains the data-based infrastructure on the management side of the business. While OT uses a bottom-up approach that starts from machinery, equipment, and assets which goes up to monitoring and controlling systems. With the emergence of industrial internet and big data, the business in several industries are transforming. Thus, this factor is further expected to support growth of the global industrial automation and control systems market over the forecast period.

Growing inclination toward smart manufacturing to boost the market growth

Several manufacturing plants and factories are shifting to factory automation and implementation of smart processes. For these, these factories are making use of multiple PLCs distributed in the whole manufacturing plant for communicating with one another instead of having a centralized PLC. With this, companies can create a communication between all the machineries, as a result, it creates an ecosystems that can be controlled remotely from anywhere. Thus, adoption of smart manufacturing is increasing rapidly, which is further likely to aid in growth of the global industrial automation and control systems market over the forecast period.

Global Industrial Automation and Control Systems Market Opportunities:

Advent of industry 4.0 is likely to generate growth opportunities in the global industrial automation and controller systems market over the forecast period. Due to the advent of Industry 4.0, the adoption of automation and control system has increased rapidly. Several industries are adopting smart manufacturing for high precision and low error rates. This in turn is creating growth opportunities in the market.

Growing penetration of Internet of Things (IoT) in factory automation is also expected to generate growth opportunities in the global industrial automation and control systems market over the forecast period. With the growing penetration of IoT, smart manufacturing is growing for embracing and obtain advantages of internet connectivity. For instance, in May 2022, Emerson Electric Co. introduced the new automation solutions TopWorkx DX Partial Stroke Test with HART 7. Thus, adoption of industrial automation and control systems is increasing, further creating growth opportunities in the market.

Global Industrial Automation and Control Systems Market Restraints:

Concerns regarding security threats to impede the market growth

Connected products and solutions perform specifics assignments. Most of the automation solutions run on a particular working framework such as MQX, VxWorks, Windows, INTEGRITU, or Linux4. Customary security components do not work efficiently of these solutions. Thus, these systems are at risk of cyber-attacks that threat security and can compromise systems. This factor in turn is expected to limit growth of the global industrial automation and control systems market over the forecast period. However, manufacturers are focusing on improving security of these solutions with R&D and product development which is likely to support the market growth.

High cost of implementation to hinder the market growth

High cost of implementing automation and control systems and rise in initial capital investments related to installations are the major factors adversely impacting growth of the global industrial automation and control systems market. Moreover, the maintenance required for these systems is higher than machines controlled manually. Thus, this further adds into the cost of these systems. These factors are expected to hinder growth of the industrial automation and controller systems market over the forecast period.