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System Integrator Market for Industrial Automation Worth $56B by 2022
April 19, 2017 | PRNewswireEstimated reading time: 2 minutes
According to a new market research report "System Integrator Market for Industrial Automation by Service Outlook (Consulting, Hardware, and Software), Technology (SCADA, PLC, PAC, RTU, DCS, MES & MOM, PLM, HMI, APC, OTS, Safety Automation), Industry, and Geography - Global Forecast to 2022", published by MarketsandMarkets™, the market is expected to reach USD 56.05 Billion by 2022 from USD 41.47 Billion in 2016, at a CAGR of 5.0% between 2017 and 2022.
The major factors driving the growth of the system integrator market for industrial automation include the growing use of Internet of Things (IoT) in industrial automation, rising safety and security concerns, demand for low-cost energy-efficient production process by manufacturing plants, automation in manually uncontrollable processes, advancement in cloud computing technology, higher bargaining power of system integrators, and bundled products offered by system integrators.
Software integration service expected to hold the largest market size by 2022
Software integration service held the largest share of the system integrator market for industrial automation in 2016. This can be attributed to the wide acceptance of automation software including SCADA, DCS, MES, and PLM in industries as part of monitor and control solutions.
Market for PLC, PAC, & RTU technology to grow at the highest rate during the forecast period
The system integrator market for PLC, PAC, and RTU technology is likely to grow at the highest rate during the forecast period. PLC, PAC, and RTU technology controls the work-in-process, collects data from various sources in plants and sends it to SCADA or DCS for analysis, the growth of these segment is attributed to the increasing adoption of control systems in the industry at remote locations.
The Americas likely to hold the largest share of the system integrator market for industrial automation during the forecast period
The Americas is expected to hold the largest share of the system integrator market for industrial automation during the forecast period owing to the presence of major companies, such as ABB (Switzerland), Siemens (Germany), Rockwell (US), General Electric (US), and Cameron (US) providing industrial automation solutions to the customers through system integrators. The Americas has a higher penetration of process industries, such as oil and gas, mining, pulp and paper, chemical, and petrochemical. The processes in these industries are very complex and large. Therefore, the implementation of automation solutions is necessary for these companies.
The report also profiles the most promising players in this market. The competitive landscape of the market presents an interesting picture of the strategies adopted by a large number of players. The key players in this market are Wood Group Mustang (US), Prime Controls LP. (US), ATS Automation (Canada), Maverick Technologies (US), Wunderlich - Malec Engineering (US), Mangan Inc. (US), Avanceon (US), Dynamysk Automation Ltd. (Canada), Tesco Controls Inc. (US), Stadler+Schaaf Mess-Und Regeltechnik GmbH (Germany), INTECH Process Automation (US), Design Group (US), CEC Controls Co. Inc. (US), Burrow Global LLC (US), and Matrix Technologies (US).
About MarketsandMarkets
MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
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