Industrial Automation Market: Strong Distribution Channels Expected To Provide More Convenience To Various End Users In The Global Market 2019 - 2027

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Global Industrial Automation Market: Overview
The global industrial automation market exhibits a highly cutthroat competition mainly due to the presence of innumerable players, observes Transparency Market Research based on a newly published report. The fragmented nature of this market’s vendor landscape depicts most players integrating their products with advanced technologies. With an increasing demand for industrial-grade products occurring in almost every sector, a high requirement for automation that can help mass produce commodities is being felt all over the globe. 
According to experts from Transparency Market Research, the global industrial automation market had gained revenue worth US$227.29 bn in 2018, which is further expected to grow up to US$438.08 bn by the end of 2027. This growth is projected to occur at a handsome CAGR of 7.56% during the forecast period from 2019 to 2027.
Demand for Fast Production Capacity Creates Need for Rampant Industrial Automation
A rapidly increasing demand for fast production capacities is primarily driving the global industrial automation market. Such a high demand mainly exists in terms of automotive assemblies, telecom networks, aircrafts, heat treating boilers and ovens, chemical plant machinery, steering and ship stabilization, and other machinery systems. 
Moreover, several companies are pouring large sums of money to facilitate research and developmental processes regarding industrial automation. This too has been responsible for propelling growth in the global industrial automation market.
Various industrial segments are adopting automation systems to reduce labor burden, consequently making the market grow at a respectable pace. Automation also brings into picture the implementation of various innovative solutions, compared to manual processes. All these factors are certainly expected to fuel the global industrial automation market, and make it thrive spectacularly and better than current times during the forthcoming years.
However, steep costs required to set up systems for machinery production, as well as expensive research and development activities undertaken for the same is greatly hampering the global industrial automation market’s growth. High installation and maintenance expenses are discouraging small-scale plants and industries to avoid automation completely. Moreover, lack of awareness regarding benefits of automation in several regions too is posing as an obstacle to the market in several developing and emerging economies.

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