Global Industrial Control for Process Automation Market Growth, Trends, and Forecast Report 2019-2024 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Dec 20, 2019--
The “Industrial Control for Process Automation Market - Growth, Trends, and Forecast (2019 - 2024)” report has been added to ResearchAndMarkets.com’s offering.
The industrial control for process automation market is expected to register a CAGR of 8.5% during the forecast period 2019-2024
The Internet of Things (IIoT) and Industrial 4.0 are dominating trends in the industrial sector, with machinery and devices being connected via the internet.
The number of IoT connected devices rose to 20.35 billion in 2017 from 15.41 billion in 2015 and is expected to reach 51.11 billion by 2023, given the huge push from the investment of the technology providers through continuous research and development. To operate these increasing number of connected devices and machine-to-machine connection in the manufacturing industry, the need for control and supervision is expected to become more prominent; this can be attributed to the increase of network-connected and controlled devices and systems.
Key Market Trends
Paper and Pulp Segment is Expected to Register a Significant Growth
Asia-Pacific to be the Fastest Growing Market
The industrial control for process automation market is fragmented. The market is highly competitive due to the presence of many small and large players. Some of the key players include ABB Ltd., Schneider Electric, Honeywell International Inc., Siemens AG, Rockwell Automation, Omron Co., General Electric Co., among others.
For more information about this report visit https://www.researchandmarkets.com/r/vuyt5g
View source version on businesswire.com:https://www.businesswire.com/news/home/20191220005135/en/
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INDUSTRY KEYWORD: TECHNOLOGY OTHER TECHNOLOGY
SOURCE: Research and Markets
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PUB: 12/20/2019 04:11 AM/DISC: 12/20/2019 04:11 AM