Albany, New York, March 6, 2017 – The global market for automation industrial monitors is poised to register a modest CAGR of just over 2.0% from 2017 to 2021, according to a report added to MarketResearchReports.biz. The 71-page research publication is titled “Global Automation Industrial Monitors Market 2017-2021” and offers sharp insights into the growth prospects of this industry.
According to the report, the major factor driving the automation industrial monitors market is increasingly rapid rate of obsolescence of various technologies, which is, in turn, resulting in faster replacements. The emergence of virtual reality in its most immersive form presents several opportunities for players to capitalize on. However, the rising volatility in industrial as well as business environments is likely to dampen the prospects of this market in the coming years.
On the basis of screen size, the automation industrial monitors market is categorized into screen size above 17 inches, screen size between 12 inches to 17 inches, and screen size below 12 inches. The 12 inches to 17 inches segment by screen size has led the overall market since they are best suited for several complex industrial applications and are increasingly optimized.
Based on geography, the global market covers three main regions: Asia Pacific, the Americas, and Europe, the Middle East, and Africa. The Americas held the largest share in terms of revenue and are slated to enjoy their dominant position throughout the forecast period. This can be attributed to the thriving power and food and beverages industries in the region and the greater rate of infrastructural development in most US states and in Latin America as well. A recovering construction sector is also a key factor aiding the Americas’ dominance in the market.
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By end use, the market for automation industrial motors is bifurcated into discrete industries and process industries. The latter accounted for a major share in the overall demand as well as revenue in 2016. This can be attributed to the growing adoption of industrial displays and monitors in the food and beverages industries to observe various processes such as conveying, material handling, packaging, pumping, and storage of finished goods. In the mining industry, industrial displays and monitors are using for quarrying and conveying.
The dominant players in the automation industrial monitors market include Siemens, Rockwell Automation, Hope Industrial Systems, AAEON, and Advantech. This highly competitive market is defined by the strong presence of large as well as small-scale manufacturers and is increasingly fragmented in nature. Experts in the industry have noted that although a majority of the market shares are held by small and medium-scale vendors, they struggle to keep up with global manufacturers who are offering a plethora of advanced technologies and features. In order to improve their position in the automation industrial monitors market, these vendors are constantly investing in research and development activities to cater to the varied demands of the customers. Other key players in this market include Axiomtek, Litemax Electronics, Computer Dynamics (CIMTEC Automation), Honeywell, National Instruments, Barco, Beckhoff Automation, Kontron, Sparton, Pepperl+Fuchs, SECU6, OmniVision Technologies, RGB Spectrum, and Edge Electronics.
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