Global Industrial Controls and Factory Automation Market
The increasing adoption of automation by factories in the US, China, and Germany has propelled the growth of the global industrial controls and factory automation market, which has resulted in a projected CAGR of more than 7% for the market
Bangalore,Karnataka, March 8, 2016 (Newswire.com)
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The following companies as the key players in the Global Industrial Controls and Factory Automation Market: ABB, Emerson Electric, GE, Honeywell International, Rockwell Automation, Schneider Electric and Siemens
Commenting on the report, the need for smart factories, i.e., automated factories, has increased globally, and this trend will gain considerable traction during the forecast period. Manufacturing-based countries like China and Germany have started to automate their existing factories to stay ahead of the competition. Automation enables better communication and precise coordination within factories, and ensures flexibility in their underlying processes.
According to the report, the need to replace legacy automation systems with new highly efficient automation solutions for process improvements is one of the primary drivers in the market. Automation solutions enable organizations to take fast and predictive maintenance steps that prevent the failure of plant operations and increase productivity.
Further, the report states that the switching cost associated with automation systems from one vendor to another is very high, acting as a challenge for end-user adoption.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysisof the key vendors. For further information on this report, please visit- http://www.reportxplore.com/market_reports/global-industrial-controls-and-factory-automation-market-2015-2019/
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