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Machine Automation Controller Market Worth $41.5 Billion by 2024
May 29, 2019 | PRNewswireEstimated reading time: 1 minute
The machine automation controller market is estimated to be worth $33.7 billion in 2019 and is expected to reach $41.5 billion by 2024, at a CAGR of 4.3% during 2019–2024. The major factors fueling the growth of the machine automation controller market include rising focus on reducing overall operational cost, increasing need to drive productivity in process industry, and growing use of robots in manufacturing sector.
DCS to Lead the Market by 2019
DCS offers centralized control of plant operation allowing flexible monitoring, control, and reporting of individual components operating on the production floor. Moreover, the unique ability of DCS to manage highly complex processes of automation makes it an ideal solution for companies with large production setup. The installation of DCS in the process industry enables companies to reduce downtime and improve production using optimal resources. The growing demand for products such as foods, beverages, and chemicals is expected to augment the growth of the segment over the forecast period.
IP65 Rated Controller to Hold the Largest Share of Machine Automation Controller Market
Machine automation controllers with IP65 rating are utilized in a more demanding industrial environment where the automated system is in constant contact with dust, liquid, and solid objects. IP65 rated automation controller offers protection against dust and low-pressure jets of liquid from all directions. Automation controllers, such as DCS and industrial PC (IPC), have IP65 rating because a few components, such as flat panel monitors which do not have additional protection. The need to protect these external components has resulted in making IP65 rating a necessity.
APAC to be Largest Market for Machine Automation Controller during Forecast Period
APAC is expected to account for the largest share of the machine automation controller market in 2019 and the trend is anticipated to continue till 2024. The huge domestic demand for automated controllers has led to the establishment of manufacturing units of various industries, such as automotive, chemicals, food & beverages, and semiconductor & electronics. However, growing labor costs, rapidly evolving manufacturing processes, and increasing operational costs have resulted in companies operating adopting automation technologies to address the challenges effectively.
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