Report : Europe Industrial Automation Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Component (Hardware and Software), System (Supervisory Control and Data Acquisition, Distributed Control System, Programmable Logic Control, and Other), and End User (Oil & Gas, Automotive, Food & Beverage, Chemical & Materials, Aerospace & Defense, and Others).
Hardware Segment has the Largest Share of Component in the Europe Industrial Automation Market during 2021–2028
According to our latest study on “Europe Industrial Automation Market Forecast to 2028 – COVID-19 Impact and Analysis – by Component ,System and End User” the market is projected to reach US$ 67.96 billion by 2028 from US$ 44.14 billion in 2021; it is expected to grow at a CAGR of 6.4% from 2021 to 2028. The report highlights trends prevailing in the market, and the drivers and restraints pertaining to the market growth. The growth of this market is estimated to grow owing to key driving factors such as rising uptake of automation across food & beverage industry and increase in machine vision systems adoption for industrial automation. However, requirement of high initial investment is hamper the market growth.
The market for Europe Industrial Automation Market is segmented into component, system and end user. Based on component, the Europe Industrial Automation Market is segmented into Hardware and Software. In 2020, hardware segment accounted for the highest share of the market in the forecasted period. Moreover, the software segment registered the highest CAGR during the forecast period. Hardware is an essential part of manufacturing and process production. Innovations in hardware are a prerequisite for complementing and fulfilling any significant technological development in the industry. The primary type of industrial hardware used for automation are motor & drives, sensors, robots, machine vision systems, and others.
ABB Ltd, Hitachi, Ltd. Mitsubishi Electric Corporation, OMRON Corporation Rockwell Automation, Inc., Siemens, Yokogawa Electric Corporation, Koyo Electronic Industries Co., Ltd., Emerson Electric Co. are among the leading companies in the Europe Industrial Automation Market.
The market for Europe Industrial Automation Market is segmented into component, system and end user. Based on component, the Europe Industrial Automation Market is segmented into hardware and software. Based on system the Europe Industrial Automation Market is segmented into supervisory control and data acquisition, distributed control system, programmable logic control and others. Based on End User the Europe Industrial Automation Market is segmented into oil & gas, automotive, food & beverage, chemical & material, aerospace & dense and others. Geographically, the Europe Industrial Automation Market is segmented into Europe (Germany, France, Italy, UK, Russia and Rest of Europe).
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