LONDON--(BUSINESS WIRE)--Technavio has been monitoring the industrial automation market in life sciences industry and it is poised to grow by USD 1.92 billion during 2020-2024, progressing at a CAGR of over 6% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Please request Free Sample Report on Covid-19 Impact
Frequently Asked Questions-
- What was the value of the industrial automation market in life sciences industry in 2019?
- Technavio says that the value of market was at USD 5.31 billion in 2019 and is projected to reach USD 7.23 billion by 2024.
- At what CAGR is the market projected to grow during the forecast period 2020-2024?
- Growing at a CAGR of over 6%, the market growth will accelerate during the forecast period of 2020-2024.
- What is the key factor driving the market?
- Demand for healthcare services is one of the key factors driving market growth.
- What are the top players in the market?
- ABB Ltd., Emerson Electric Co., Honeywell International Inc., Mitsubishi Electric Corp., OMRON Corp., Parker-Hannifin Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Yokogawa Electric Corp. are some of the major market participants.
- Which region is expected to hold the highest market share in the market?
- Europe
- What is the major trend of the market?
- Open process automation is a major growth factor for the market.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ABB Ltd., Emerson Electric Co., Honeywell International Inc., Mitsubishi Electric Corp., OMRON Corp., Parker-Hannifin Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Yokogawa Electric Corp. are some of the major market participants. The demand for healthcare services will offer immense growth opportunities. To make the most of the opportunities, market vendors should focus more on the growth prospects in fast-growing segments, while maintaining their position in the slow-growing segments.
Industrial Automation Market in Life Sciences Industry 2020-2024: Segmentation
Industrial Automation Market in Life Sciences Industry is segmented as below:
-
Product
- DCS
- SCADA
- PLC
- MES
-
Geography
- North America
- Europe
- APAC
- South America
- MEA
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Industrial Automation Market in Life Sciences Industry 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. Our industrial automation market in life sciences industry report covers the following areas:
- Industrial Automation Market Size in Life Sciences
- Industrial Automation Market Trends in Life Sciences
- Industrial Automation Market Analysis in Life Sciences
This study identifies open process automation as one of the prime reasons driving the industrial automation market in life sciences industry growth during the next few years.
Industrial Automation Market in Life Sciences Industry 2020-2024: Vendor Analysis
We provide a detailed analysis of vendors operating in the industrial automation market in life sciences industry, including some of the vendors such as ABB Ltd., Emerson Electric Co., Honeywell International Inc., Mitsubishi Electric Corp., OMRON Corp., Parker-Hannifin Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Yokogawa Electric Corp. Backed with competitive intelligence and benchmarking, our research reports on the industrial automation market in life sciences industry are designed to provide entry support, customer profile and M&As as well as go-to-market strategy support.
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Industrial Automation Market in Life Sciences Industry 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist industrial automation market in life sciences industry growth during the next five years
- Estimation of the industrial automation market in life sciences industry size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the industrial automation market in life sciences industry
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of industrial automation market in life sciences industry vendors
Table of Contents:
Executive Summary
- Market Overview
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five Forces Summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Product
- Market segments
- Comparison by Product placement
- DCS - Market size and forecast 2019-2024
- SCADA - Market size and forecast 2019-2024
- PLC - Market size and forecast 2019-2024
- MES - Market size and forecast 2019-2024
- Market opportunity by Product
Customer landscape
- Overview
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- APAC - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
Drivers, Challenges, and Trends
- Market drivers
- Volume driver - Demand led growth
- Volume driver - Supply led growth
- Volume driver - External factors
- Volume driver - Demand shift in adjacent markets
- Price driver - Inflation
- Price driver - Shift from lower to higher priced units
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Vendor landscape
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- ABB Ltd.
- Emerson Electric Co.
- Honeywell International Inc.
- Mitsubishi Electric Corp.
- OMRON Corp.
- Parker-Hannifin Corp.
- Rockwell Automation Inc.
- Schneider Electric SE
- Siemens AG
- Yokogawa Electric Corp.
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
