The expansion of the Automation market in the present world is evident and ever growing. Automation technology which carries out processes is popularly operated through negligible human interference. This type of technology has been witnessing innovations since decades and decades. The introduction of the computational system, advanced technology, and artificial intelligence are factoring into the exponential rise in the automation market across the globe.
Types And Categorization Of Automation Market
According to experts, there exists various different types and nature of automation that can be categorized on the basis of their flexibility as well as end-user industry.
- According to Flexibility
Based on flexibility, automation can be classified into 3 types such as flexible automation, fixed automation, programmable automation, and flexible automation.
- Fixed Automation
Fixed automation is also known as hard automation and in this type, the operations carried out are direct, fixed and non-adjustable. This makes it highly applicable and useful for mass production and manufacturing.
- Programmable Automation
In programmable automation (which is also known as soft automation) conditional sequences are configured. Based on this configuration, automation further proceeds.
- Flexible Automation
As per flexible automation, which is also known as process automation, it consists of a conditional sequence in itself which can be adjusted as and when required for the operation at hand.
Size & Share Of The Automation Market
The global share of the automation market is growing at a significant and impressive rate and is predicted to reach a three-digit billion dollar figure in the coming few years. Almost half of the overall demand for automation processes is generated from resource industries, which have a prime focus on demands from the businesses operating with oil and gas. Regions in Europe are predicted to continue dominating the market in the coming decade. However, areas of the Middle East are observed to record the fastest growth in the automation market.
Aspects Of The Automation Market
It is noticed that Industrial automation is an emerging growth driver listed under the global processes of the automation market. This is because it reduces labor costs and errors for a wide range of industries such as manufacturing, consumer goods, electrical, automotive and pharmaceutical. Additionally, the demand for end-user automation is notable in developed as well as developing countries. Factors such as an apparent lack of suitable and skilled manpower are foreseen to be a restricting element in the growth and expansion of the automation industry in slow-developing nations of the world. A simple concept and structure of automation along with the aid it provides to ensure that simplification of complex processes is done by reducing human efforts and time. This makes it an ideal tool which gets widely employed in multiple industrial domains worldwide and further records expansion and growth.
Key Market Trends Governing The Automation Market
- Growth of Global Suppliers
An emerging trend of a rise in mergers and acquisitions is leading to global expansions between automation giants. The resulting conglomerates are offering their integrated services across multi-national target audiences. Currently, the market is facing a highly competitive environment because of which the global suppliers are making strategic and operational mutations. This further helps the conglomerates to establish their influence by introducing innovative products and services and by further enhancing their existing business capabilities.
- Rise of Process Automation
The rise and development of the process automation have led to a multi-fold increase in the use of automation. It has further made the process of automation much more efficient. Process automation allows the end-users to be equipped to carry out automation with precise observation and monitoring. This further allows the users to make changes in the automation process as and when required. It also allows recording of automation data in a flexible manner. As process automation can be fully adapted, it also makes the procedure highly cost-effective when compared to other types of automation processes which can only be programmed once.
- Business Process Automation And Its Concept
A significant end-user segment of automation is manufacturing. However, its applications in software processes are expanding. There is a rise in business process automation that factors the process of automation that helps in conducting various computer-related tasks. This also helps in streamlining the business process as a whole and increasing service quality. Multiple applications are a derivative of business automation which is in development. This is expected to give rise to the use of automation further and save staff hours and increase efficiency.
The process of automation is simple as a concept, however, its applications are endless. Advancements in technology such as artificial intelligence, robotics, machine learning, and Big Data Analytics are expected to drive the expansion of the automation market. The process of automation reduces human efforts, by carrying out operations with precision and speed while at the same time maintaining quality standards. These traits are resulting in automation finding applications in a wide range of industries.