Buildings, residential and commercially, collectively consume 42% of the world’s energy. However, due to ineffective building management systems, 50% of the energy used in buildings is getting wasted. For this, there exists a need for electrical automation to save on wastage, and the demand for the same is flourishing. IndustryARC says that the global electrical automation market size was at $27.64 billion in 2018 and the opportunities are mounting at a CAGR of 4% over the forecast period. Automation has made lives simpler, whose outcomes are smart homes coupled with a secure lifestyle.
The report is titled: “Electrical Automation Market: By Types (Fixed or Hard Automation & Others) By Process (Sensors, Actuators & Others) By EA Tools (Human Machine Interface (HMI) & Others) By Functional Area (Industrial Electrical Automation, Building Electrical Automation & Others) By Application (Lift Control, Robotics, Energy & Emissions & Others), By Geography – Forecast (2019-2025).” It provides a detailed analysis of the competitive landscape, market trends, market drivers, market opportunities and strategic analysis of the global electrical automation market.
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Global Electrical Automation Market: Demand Analysis
Automation the process uses several control systems with minimal human intervention. It is utilized in various applications starting from household thermostat controlling a boiler to a huge industrial control system. Relay logic is the primary development of sequential control, through which electrical relays employ the electrical contacts that are either to start or stop the power supply to a device. Extensive range of automation is essential in large processes such as oil refining, steel mills, electrical power generation, chemicals, plastics, pulp, and paper mills, cement plants, automobile, and truck assembly, natural gas separation plants, aircraft production, glass manufacturing, fertilizer plants, food, and beverage processing, and in canning and bottling processes.
Global Electrical Automation Market: Leading Segments
Europe held the leading share of 36.19% in the global electrical automation market as of 2018. Companies in this region are aggressively adopting automation not only in new plants but also in the redesigning of existing processes. It reduces the necessity of labor in visual inspection, handling, integrating, and streamlining production processes. The wave of automation technologies and investments of ABB, Bosch, BMW, and Siemens in artificial intelligence are propelling the growth of Europe electrical automation market.
Electrical automation system design plays an indispensable role in building automation systems. The intelligent building application segment of the electrical automation market is currently most lucrative, expanding at a CAGR of 5.94% during the above-mentioned forecast period. Electrical grounding and electrical protection are the two major applications of electrical automation system in the intelligent building.
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Global Electrical Automation Market: Disruptive Trends
Electrical automation enhances energy savings in modern intelligent building and ensure safe and consistent operation of various interconnected equipment.
Widespread application of electrical automation in power grid dispatching, substation, the distribution system and also in improving the production efficiency in power plants.
Energy conservation in the distribution line, reactive power compensating system, illuminating system, and light-current system are augmenting the significance of industrial electrical automation.
Broad development space for optimization of production with less cost, to monitor and improve the performance of electrical equipment in electrical engineering is driving the growth of electrical automation technology.
Global Electrical Automation Market: Competitive Landscape
Siemens, ABB, Emerson Process Management, Rockwell Automation, Schneider Electric, Honeywell process solutions, Mitsubishi electric, Yokogawa electric, Omron automation, and Danaher Industrial Ltd are the key strategic players which are operating with major shares in the global electrical automation market.
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What can you expect from the report?
The Electrical Automation Market is Prepared with the Main Agenda to Cover the following 20 points:
1. Electrical Automation Market Size by Product Categories & Application
2. Electrical Automation Market trends & Relevant Market Data
3. Manufacturer Landscape
4. Distributor Landscape
5. Pricing Analysis
6. Top 10 End-user Analysis
7. Product Benchmarking
8. Product Developments
9. Mergers & Acquisition Analysis
10. Patent Analysis
11. Electrical Automation Market Demand Analysis (Revenue & Volume)
12. Country-level Analysis
13. Competitor Analysis
14. Electrical Automation Market Shares Analysis
15. Value Chain Analysis
16. Supply Chain Analysis
17. Electrical Automation Market Strategic Analysis
18. Electrical Automation Market Current & Future Market Landscape Analysis
19. Opportunity Analysis
20. Electrical Automation Market Revenue and Volume Analysis
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3. Find out market shares for other smaller companies or companies which are of interest to you.
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5. Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end-use segment.
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About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.
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