Industrial automation systems is a general term of automation technology tools for measurement and controlling the industrial production process and mechanical and electrical equipment, technology and equipment (including automatic measuring instrument and control device),using control theory, instrumentation, computer and other information technology to make detection, control, optimization, scheduling and management and decision-making for industrial production processes, increase yield and improve quality, reduce consumption,ensure the safety.
Market leaders are involved in extensive research for the development of new products with advanced technology. For instance, in 2017, Mitsubishi Electric Established Factory Automation Service Center in Coimbatore, India. New facility will strengthen its nationwide factory automation products in India and facilitate expansion of its FA system business. Subsequently, introduction of such initiation are expected to provide this market with lucrative growth opportunities.
Many well-known as well as small local companies are present in the market to provide diversified product to its customers. The larger firms are adopting the strategy of partnership, contractual alliances for the deployment of new technological solutions to enhance its product portfolio and expand its footprint in different geographies.
Few on the important market initiative from the industry are mentioned below:
Market initiative from the industry
The most prominent market players in industrial automation control market are ABB Ltd., Honeywell International Inc., Siemens AG, Emerson Electric Co., Bosch Rexroth AG, General Electric Company, Hitachi, Ltd., Koyo Electronics Industries Co., Ltd., Mitsubishi Heavy Industries, Ltd., Omron Corporation, Rockwell Automation, B&R Industrial Automation Gmbh, and Beckhoff among others for a considerable share of the market owing to their product offerings to the market.
Rapid Expansion in Manufacturing Industry
The global manufacturing industry is rapidly expanding as more and newer regions are investing to adopt manufacturing plants in their localities. The expansion in the manufacturing industry is expected to embrace technological advancements in order to enhance the plant productivity, maintain edge with the customers and gain competitive advantage. The expansion in the manufacturing industry is further highly driven by the economic growth worldwide. Also, the industry is presently found to be in the middle of a technological renaissance, which is changing the outlook, systems and processes of the modern factory. This technological revolution in the factories has been encouraging the manufacturing industries to further invest into these emerging technologies in order to enhance their productivity and production cycle. Thus, the rapid expansion in the manufacturing industry is expected to drive the demand for industrial automation globally.
Integration of artificial intelligence
The industrial sector is becoming increasingly entangled with artificial intelligence, big data as well as other such technologies. It is predicted that in the near future, automation will not only boost productivity but will also provide an advanced smart assistance to humans. The players are significantly investing in the development of industrial robots integrated with artificial intelligence. Further, the Chinese government is expanding its efforts to integrate artificial intelligence technologies into industrial sector. The integration of artificial intelligence will further reduce the intervention of humans, which will be beneficial for countries with inadequate and expensive labor force. However, this may also result in loss of employment in the labor-intensive economies.
Market Initiative was observed as the most adopted strategy in global industrial automation control industry. Few of the recent partnership, contractual alliances for the deployment of new technological solutions are listed below:
2019: Hitachi Ltd. announced that it will strengthen its wind power generator maintenance services and expand its core product of wind power generation solution business, as part of efforts to strengthen its renewable energy business, including community-based and collaborative creation-oriented energy projects that combine solar power, storage batteries, EMS*1 and other elements.
2018: Bosch Rexroth received type approval for ABPAC hydraulic power units. Having obtained type approval by Lloyd’s Register for its ABPAC family of standard HPUs, maritime and offshore applications, Bosch Rexroth is expected to extend its existing offering for modular HPUs with small and medium solutions for applications with a capacity up to 110kW.
2017: Honeywell announced that L.A. Turbine Corp. and GEA have both joined Honeywell's Connected Plant program to jointly develop and provide solutions and technologies that will help customers minimize unplanned shutdowns and safety risks while optimizing output yields. By joining the Honeywell Connected Plant program, L.A. Turbine and GEA can help customers leverage data and insights in their operations along with the Industrial Internet of Things (IIoT) in one package with Honeywell UOP Russell's modular gas processing plants.