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Worldwide Industrial Automation Market Poised To Grow To $680 Billion by 2030
The industrial automation market is set to grow from a current level of $255 billion to more than $680 billion by 2030, assuming the world economy doesn’t hit too many pot holes along the way such as global pandemics, large-scale terrorist attacks or natural disasters.
This projection was arrived at using the Industrial Automation market value as reported by Credit Suisse in 2012 of $152 billion and a rough average of the projected CAGRs of 7.05% (Research and Markets) and 10.06%, (Sandler Research & TechNavio) or 8.75% through 2018, and projected out to 2030.
Despite the recent rocky road from the 2007 financial markets crisis and worldwide recession to the snail paced recovery, the world has never had it better: a more balanced, multi polar world seems to be emerging and with it, opportunity.
In addition, efforts to improve living standards worldwide, expansion of electric grids beyond major urban centers and a demand for automated processes in OECD countries and emerging economies are also factors. Yet more needs to be done: higher energy efficiency and meeting stiffer cost competition with more cost effective processes, augurs well for the industrial automation market.
New Growth Centers Quickening Pace Of Growth
China and India, lead the way in adoption of industrial automation, but Southeast Asia, the Middle East, Latin America and Africa are contributing to demand along with traditional stalwarts the United States and Europe.
Tags: 680 billion automation, automation market, automation news, industrial automation
This entry was posted on March 7th, 2014 and is filed under Automation, General. Both comments and pings are currently closed.
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