LONDON--(BUSINESS WIRE)--The global automation market in the automotive industry is expected to grow at a CAGR of more than 8% from 2018-2022, according to a new market research report by Technavio.
Global automation market in the automotive industry segmentation by technology and geography
Technavio’s report on the global automation market in the automotive industry analyses the business dimensions and presents a comprehensive breakdown in terms of market segmentation by technology which includes industrial sensors, PLC, DCS, MES, and SCADA. As projected in 2017, around 39% of the market share originated from industrial sensors. Industrial sensors play a key role in the manufacture of automobiles by ensuring consistency in product quality.
Based on geography, the global automation market in the automotive industry has been segmented into the Americas, APAC, and EMEA. As of 2017, 47% of the market share came from APAC.
“APAC dominated the global automation market in the automotive industry in 2017, and it is expected to witness a further increase of close to 3% by 2022. The strong industrial base, government initiatives, and rising living standards are some of the factors that are leading to the growth of the market in this region,” says a senior analyst at Technavio for automation research.
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Automation market in the automotive industry: competitive vendor landscape
The global automation market in the automotive industry is fragmented with the presence of many regional and international players. Manufacturers are offering customized services and products to cater to the needs of the end-users. This is expected to intensify the competition in the market during the forecast period. The industrial automation companies are also investing in R&D activities and product innovation which further augment the growth prospects of the market.
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Other topics covered in the report:
Market drivers:
- Demand for enhanced visibility and flexibility in manufacturing process
- Integration of MES, PLM, and ERP
Market trends:
- Emergence of smart manufacturing
- Emergence of IWSN
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