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(IT-NEWSWIRE.COM, August 11, 2022 ) According to a new market research report “South East Asia Industrial Automation and Process Control Market by Product Type (DCS, PLC, SCADA, PLM), Industry Vertical (Textile, Oil and Gas, Food and Beverages, Life Sciences, Automotive, Packaging) - Industry Forecast to 2025”, published by Meticulous Research®, the Southeast Asia industrial automation and process control market is expected to grow at a CAGR of 7.8% from 2019 to 2025 to reach $4.97 billion by 2025.
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With rising digital revolution, the focus of automation has shifted to improve quality and flexibility in the manufacturing process. Various well-established organizations across the globe are increasingly struggling with the rising cost of operations, declining sales, and unidentified competition. Thus, demand for automation is significantly observed in various industries which include both process as well as the discrete industry. Therefore, the implementation of industrial automation and process control is on the rise in order to create new opportunities & enhance operational capabilities by leveraging new possibilities, fastening processes, and making organizations adaptable to changes in the future.
Realizing the fact, various industries are investing heavily in order to reap the profits in highly dynamic and competitive market environments. Organizations are aggressively adopting industrial automation and process control to reshape their business processes and increase profitability. Increasing government initiatives to promote the adoption of automated systems in various industrial verticals, increasing demand for automation from various manufacturing sectors, growing innovations in industrial automation systems, and growing need for mass production with reduced operation cost are the key factors driving steady growth in the Southeast Asia industrial automation and process control market. In addition, industry 4.0 revolution, growing digitalization, increasing demand for safety compliance automation products, and rising manufacturing sector in emerging economies further provides significant opportunities for the various stakeholders in this market.
In recent years, the funding for the development and implementation of industrial automation and process control has increased significantly. For instance, in 2019, the Malaysian government launched a National Policy on Industry 4.0 (Industry4WRD) and allocated a budget of over $1.2 billion to help businesses adopt Industry 4.0. Within this, the government allocated $480 million under the Business Loan Guarantee Scheme (SJPP) to incentivize SMEs to invest in automation and modernization and $720 million as Industry Digitalization Transformation Fund to accelerate the adoption of smart technologies such as automation, robotics, and artificial intelligence.
The Southeast Asia industrial automation and process control market study presents historical market data in terms of value (2017 and 2018), estimated current data (2019), and forecasts for 2025– by product type, industry vertical, and geography. The study also evaluates industry competitors and analyzes their market share at the global and regional levels.
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Based on product type, the product lifecycle management is estimated to account for the largest share of the overall industrial automation and process control market in 2019. The large share of this segment is attributed to the solutions provided by PLM in the manufacturing industry such as shorter time to market, reduced compliance risk, innovation, greater design efficiency, and reduced manufacturing cost. On the other hand, the programmable logic controller market is slated to grow at the fastest CAGR during the forecast period, owing to the performance of controlled algorithms by machine function, scalability, and multidiscipline and enabled programmable automation controller (PAC).
Based on industry vertical, the process industry is estimated to account for the largest share of the overall industrial automation and process control market in 2019. This is mainly attributed to high manufacturing demand, increasing diverse energy mix, growing demand to improve efficiency, and reduced cost of compliance.
The report also includes an extensive assessment of the key strategic developments adopted by the leading market participants in the industry over the past 4 years (2016-2019). The industrial automation and process control market has witnessed a number of new product launches & upgradations in the recent years. For instance, in December 2019, Siemens launched a new version of the Braumat brewery process control system. The latest version 8.0 is based on the Simatic S7-1500 controller and has been optimized in the areas of reporting, weighing systems, and security.
The Southeast Asia industrial automation and process control market is highly fragmented with the presence of key players, such as Siemens (Germany), ABB (Switzerland), Fanuc Corporation (Japan), Rockwell Automation Inc. (U.S.), Emerson Electric Corporation (U.S.), Universal Robots (Denmark), Schneider Electric SE (France), Yokogawa Electric Corporation (Japan), Honeywell International Inc. (U.S.), Panasonic Corporation (Japan), Eaton Corporation (Ireland), and Scott Automation and Robotics (Australia) along with several local and regional players.
Browse key industry insights spread across 228 pages with 71 market data tables & 48 figures & charts from the market research report: https://www.meticulousresearch.com/product/southeast-asia-industrial-automation-process-control-market-5073/
Scope of the Report:
Southeast Asia Industrial Automation and Process Control Market, by Product Type
Product Lifecycle Management
Distributed Control System
Supervisory Control and Data Acquisition
Variable Frequency Drive
General Motion Control
Programmable Logic Controller
Sensors and Transmitters
Manufacturing Execution System
Flowmeters
Process Safety System
Machine Safety System
Enterprise Asset management
Human-machine Interface
Operator Training Simulator
Product Lifecycle Management
Southeast Asia Industrial Automation and Process Control Market, by Industry Vertical
Process Industry
Oil and Gas
Chemical and Petrochemical
Food and Beverages
Life sciences
Water and Wastewater
Energy and Power System
Pulp and Paper
Cement and Glass
Metal and Mining
Textile
Rubber and Plastic
Metal Fabrication
Discrete Industry
Automotive
Semiconductors and Electronics
Medical Devices
Aerospace and Defence
Machine Manufacturing
Packaging
Printing
Southeast Asia Industrial Automation and Process Control Market, by Geography
Singapore
Vietnam
Indonesia
Thailand
Malaysia
Philippines
Others
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Meticulous Research™
chhagan yadav
+91 744-7780008
chhagan.y@meticulousresearch.com
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