Industrial Automation Market in Europe and MEA Worth $ 51.4 Billion by 2026
CHICAGO, December 10, 2021 / PRNewswire / – According to the new research report, the “Industrial automation market in Europe and Middle East & Africa with COVID-19 impact by component (industrial sensors, industrial 3D printing, industrial robots), solution (SCADA, DCS), industry and region – Forecast until 2026 “, published by MarketsandMarkets ™, the market is expected to grow $ 36.4 billion in 2021 and reach $ 51.4 billion by 2026; It is expected to register a CAGR of 7.1% from 2021 to 2026. The growth of the market is attributed to the increasing demand for real-time data analysis in all geographies and the increasing adoption of the latest technologies in the industries. end use to improve performance. The main driver of the industrial automation market is the growing demand for real-time data analysis and proactive maintenance, which would allow manufacturers to gain better visibility of the manufacturing plant and hence, improve efficiency. In addition, the growing emphasis on predictive maintenance and asset management solutions, which would provide users with better visibility into the condition of equipment, is fueling their demand.
Request the PDF brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=25043689
“The industrial sensors segment is expected to hold the largest size of the industrial automation components market in the Middle East & Africa during the forecast period “
The industrial sensors segment is expected to represent the largest size of the industrial automation market from 2021 to 2026. The growth of the industrial sensors segment is due to the increasing adoption of Industry 4.0 and IIoT and the expansion of the wireless sensor market. Industrial sensors are widely used in the manufacturing industry, mainly to improve connectivity between various operations. Manufacturers around the world have started integrating sensors to collect real-time data from various data points. Additionally, sensors being an important part of predictive maintenance solutions, are expected to experience rapid growth in demand in the coming years, as predictive maintenance is expected to provide lucrative opportunities by capturing data from sensors, facilitating communications and by providing projections to players operating in the industrial sensors market in the years to come. Hence, the industrial sensors market share in the industrial automation market in the Middle East & Africa in 2020 was evaluated at $ 1.2 billion, which is higher than the market share of other components and is expected to reach $ 2.1 billion by 2026.
“Pam’s market is expected to grow at the highest CAGR from 2021-2026 in the Middle East & Africa“
The PAM segment is expected to register the highest growth rate from 2021 to 2026. Plant Asset Management (PAM) is software that uses intelligence built into industrial assets to accurately measure and provide information on the state of the assets of a plant. PAM is increasingly used by manufacturers as it improves decision making and turnaround times by tracking manufacturing defects and thus preventing system failures through real-time data collection and monitoring techniques. quality management. In addition, PAM enables manufacturers to reduce downtime and wasted resources by identifying possible failures before production and also offers corrective actions. In addition, PAM solutions are widely implemented in the agro-food and automotive industries, due to constant technical innovations and the requirement for complete data recording of installed equipment. Additionally, the growing demand for PAM technology can be attributed to the benefits of lowering manufacturing costs and improving the operations of the high performance production assets they offer. Therefore, PAM segment is forecast to experience the highest CAGR of 9.5% during the forecast period.
Browse the table of contents in depth on “Industrial automation market in Europe and MEA market“
189 – Tables
62 – Figures
302 – Pages
Inquiry Before Buying: https://www.marketsandmarkets.com/Enquiry_Before_BuyingNew.asp?id=25043689
“Saudi Arabia is expected to hold the largest industrial automation market size in the Middle East & Africa during the forecast period “
Saudi Arabia is expected to represent the largest size of the industrial automation market in the Middle East & Africa from 2021 to 2026. Saudi Arabia is experiencing significant growth in the manufacturing sector, due to the increased implementation of several IoT related software and services, which constantly push the country to become a globally recognized technology industry. Along with the manufacturing sector, the food processing industry in the country is well established to generate significant growth in the years to come. In addition, the Saudi automotive industry, one of the largest in the Middle East, was relatively stable, with a number of companies reporting positive results. In addition, the has actively organized plans and taken measures to increase domestic manufacturing in the country and reduce economic dependence on the oil and gas sector by adopting advanced technology. Due to all these factors, the market share of Saudi Arabia, which was valued at $ 1.9 billion in 2020, is higher compared to other countries in the industrial automation market in the Middle East and Africa and should reach $ 2.7 billion by 2026.
ABB (Switzerland), Emerson Electric Co. (United States), FANUC (Japan), General Electric (United States), Honeywell International (United States), Mitsubishi Electric (Japan), Rockwell Automation (United States), Schneider Electric (France), Siemens (Germany) and Yokogawa Electric (Japan) are some major players in the industrial automation market in Europe, Middle East & Africa.
Industrial Control and Factory Automation Market by solution (SCADA, PLC, DCS, MES, industrial security, PAM), component (industrial robots, industrial 3D printing, process analyzer, machine vision, HMI), industry, region – Global forecasts until 2026
Industrial Automation System Integrator Market with COVID-19 impact analysis by service outlook, technology (HMI, SCADA, MES, IIoT, PAM, DCS, PLC, machine vision, industrial robotics, industrial PC), industry and geography – Global forecasts until 2026
About MarketsandMarkets ™
MarketsandMarkets ™ provides quantified B2B research on 30,000 high growth niche opportunities / threats that will impact 70% to 80% of global business revenues. Currently serving 7,500 clients worldwide, including 80% of global Fortune 1000 companies as clients. Nearly 75,000 senior executives in eight industries around the world approach MarketsandMarkets ™ for their income decision issues.
Our 850 full-time analysts and SMEs at MarketsandMarkets ™ monitor high-growth global markets according to the Growth Engagement Model – GEM. The GEM aims to proactively collaborate with clients to identify new opportunities, identify the most important clients, write “Attack, Avoid and Defend” strategies, identify additional sources of revenue for the company and its competitors. MarketsandMarkets ™ now offers 1,500 MicroQuadrants (positioning the best players among leaders, emerging companies, innovators, strategic players) each year in emerging high growth segments. MarketsandMarkets ™ is committed to benefiting over 10,000 companies this year for revenue planning and helping them bring their innovations / disruptions to market early by providing them with cutting edge research.
MarketsandMarkets’ flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for a deeper understanding of unfulfilled information as well as market size and forecasts of niche markets.
Mr. Ashish Mehra
Markets and Markets ™ INC.
630 Dundee Road
Northbrook, Illinois 60062
United States: + 1-888-600-6441
Research overview: https://www.marketsandmarkets.com/ResearchInsight/industrial-automation-market.asp
Visit our website: https://www.marketsandmarkets.com
Source of content: https://www.marketsandmarkets.com/PressReleases/industrial-automation.asp
SOURCE Markets and Markets