Machine Automation Controller Market to Grow from $33.7B in 2019 to $41.5B by 2024
June 26, 2019 | PRNewswireEstimated reading time: 1 minute
The machine automation controller market was valued at $32.32 billion in 2018 and is projected to reach $41.54 billion by 2024; it is expected to grow at a CAGR of 4.3% during 2019-2024.
This report provides a detailed analysis of the machine automation controller value chain. Research and development, manufacturing and assembly, distribution, end user, and after-sales services are the prominent stages in the machine automation controller value chain. The maximum value is added during the manufacturing and assembly phases.
The growth of the market is driven by rising focus on reducing overall operational cost, increasing need to drive productivity in process industries, and the growing use of robots in the manufacturing sector. However, high initial capital investment for SMEs and difficulty in finding system failure resulting in increased downtime are factors restraining the market growth. Cybersecurity threats and rising digital skill gaps are the major challenges faced by players in the machine automation controller market.
The machine automation controller market is dominated by various established players according to their core competencies. The key players offering DCS include ABB (Switzerland), Honeywell (US), Siemens (Germany), Yokogawa (Japan), and Emerson (US). Whereas, the key players offering PLC are Siemens (Germany), Rockwell (US), Schneider Electric (France), Mitsubishi Electric (Japan), and ABB (Switzerland).
Further, leading players offering industrial PC include Advantech (Taiwan), Siemens (Germany), and Beckhoff Automation (Germany). These major companies in the machine automation controller market have adopted product launches and contracts as key strategies to expand their business operations, customer base, and geographic reach by providing the best possible solutions to their customers.
Suggested Items
TTM Celebrates the Grand Opening of Its First Manufacturing Facility in Penang
04/25/2024 | TTM Technologies, Inc.TTM Technologies, Inc., a leading global manufacturer of technology solutions including mission systems, radio frequency (RF) components and RF microwave/microelectronic assemblies, and quick-turn and technologically advanced printed circuit boards (PCBs), officially opened its first manufacturing plant in Penang, Malaysia with an investment of USD200 million (approximately RM958 million).
Elevating PCB Design Engineering With IPC Programs
04/24/2024 | Cory Blaylock, IPCIn a monumental stride for the electronics manufacturing industry, IPC has successfully championed the recognition of the PCB Design Engineer as an official occupation by the U.S. Department of Labor (DOL). This pivotal achievement not only underscores the critical role of PCB design engineers within the technology landscape, but also marks the beginning of a transformative journey toward nurturing a robust, skilled workforce ready to propel our industry into the future.
Fujitsu, METRON Collaborate to Drive ESG Success
04/24/2024 | JCN NewswireFujitsu Limited and METRON SAS, a French cleantech company specializing in energy management solutions for industrial decarbonization, today announced a strategic initiative to contribute to the realization of carbon neutrality in the manufacturing industry.
Real Time with... IPC APEX EXPO 2024: Final Finishes and IC Substrate Manufacturing
04/24/2024 | Real Time with...IPC APEX EXPOEditor Marcy LaRont and Richard DePoto, Uyemura's Business Development Manager, engage in a comprehensive discussion about the positive aspects of the show, the benefits of RAIG in final finishes, and the hurdles faced when upgrading your surface finish. Also discussed are the role of Uyemura's MEC pretreatment agents in IC substrate manufacturing and the importance of collaboration and knowledge sharing.
Women MAKE Awards Recognizes GlobalFoundries’ Jennifer Robbins and Katelyn Harrison for Manufacturing Excellence
04/24/2024 | GlobalFoundriesThe Manufacturing Institute (MI)—the workforce development and education affiliate of the National Association of Manufacturers—honored two outstanding women from GlobalFoundries (GF) at their annual Women MAKE Awards. Jennifer (Jenny) Robbins, Senior Director, Central Facilities, was recognized as a 2024 Women MAKE Awards Honoree, while Katelyn Harrison, Senior Integration Engineer, was honored as an Emerging Leader.