Southeast Asia Industrial Automation and Process Control Market to Reach Around $5 Billion by 2025
07 Feb 2020 • by Natalie Aster
Meticulous Research published a research report titled “South East Asia Industrial Automation and Process Control Market by Product Type (DCS, PLC, SCADA, PLM), Industry Vertical (Textile, Oil and Gas, Food and Beverages, Life Sciences, Automotive, Packaging) - Industry Forecast to 2025”. According to this latest publication from Meticulous Research®, the Southeast Asia industrial automation and process control market is expected to grow at a CAGR of 7.8% from 2019 to reach $4.97 billion by 2025.
Substantial growth in the Southeast Asia industrial automation and process control market is mainly attributed to the government initiatives to promote the adoption of automated systems in various industrial verticals. Furthermore, increasing demand for automation across various manufacturing sectors, growing innovations in industrial automation systems, and growing need for mass production with reduced operation cost are complimenting the overall growth of the Southeast Asia industrial automation and process control market. However, growing risk of unemployment and high capital investments is expected to provide some challenges to the growth of the Southeast Asia industrial automation and process control market.
Southeast Asia industrial automation and process control market study presents historical market data in terms of value (2017 & 2018), estimated current data (2019), and forecasts for 2025- by type (product lifecycle management, distributed control system, supervisory control and data acquisition systems, variable frequency drive, general motion controls, programmable logic controller, sensors and transmitters, manufacturing execution system, flowmeters, machine safety system, enterprise asset management, human machine interface, process safety system, and operator training simulator), industry (process and discrete industry), and country.
On the basis of product type, product lifecycle management bagged the majority of share in the Southeast Asia industrial automation and process control market in 2019 and is expected to continue its dominance in this market during the forecast period.
On the basis of industry vertical, the process industry accounted for the largest market share in terms of revenue in 2019. The large share of this segment is primarily attributed to the fact that higher output and increased productivity have been two of the biggest factors fostering the use of automation in the process industry. Furthermore, automated systems typically perform the manufacturing process with less variability than human workers, resulting in greater control and consistency of product quality. Owing to this, automation has been widely used in the process industry.
On the basis of geography, Southeast Asia industrial automation and process control market is segmented into Singapore, Vietnam, Malaysia, Thailand, Indonesia, Philippines, and other countries (Cambodia, Laos, Myanmar, and Brunei). With respect to revenue, Singapore is by far the most commanding market and expected to maintain its dominance throughout the forecast period. The market growth in Singapore is majorly attributed to the rising opportunities for automation in the manufacturing sector, favorable government initiatives, growing manufacturing presence of leading global companies, growing economy, and rising investments in this country. However, Vietnam is offering some serious challenges to the dominance of Singapore in the Southeast Asia industrial automation and process control market. The Vietnam Ministry of Planning has formulated a new Foreign Direct Investment (FDI) strategy for 2018-2023, with assistance from the World Bank, specifically aimed to encourage foreign investments in high-tech industries. Thus, increasing investments in high tech manufacturing will significantly drive the adoption of automation solutions in manufacturing industries in Vietnam.
The major players operating in the Southeast Asia industrial automation and process control market are Siemens (Germany), ABB (Switzerland), Fanuc Corporation (Japan), Rockwell Automation Inc. (U.S.), Emerson Electric Corporation (U.S.), Universal Robots (Denmark), Schneider Electric SE (France), Yokogawa Electric Corporation (Japan), Honeywell International Inc. (U.S.), Panasonic Corporation (Japan), Eaton Corporation (Ireland), and Scott Automation and Robotics (Australia) among others.
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