Published Date : Oct 03, 2016
Albany, NY, Oct 03, 2016: MarketResearchReports.biz has announced the addition of a new report to its growing market intelligence repository. The report examines the global market for automation solutions in the power industry and presents reliable forecasts regarding the market’s development till 2020. The report, titled ‘Global Automation Solutions Market In The Power Industry 2016-2020,’ is available for sale on the official website of MarketResearchReports.biz.
Automation solutions have become a crucial point in the development of the global power industry in the last few years due to the increasing awareness about their benefits to the overall grid network. The rapid development of smart grids in the developed world has thus benefitted the global automation solutions market in the power industry. Automation solutions allow power utilities to not only exert better control over the grid networks, but also to obtain a continuous stream of data regarding the operation of various components of the grid, making it possible to avert possible mishaps significantly earlier than with conventional systems. This is likely to remain the key driver for the global market for automation solutions in the power industry in the coming years.
According to the report, the global automation solutions market in the power industry is expected to exhibit a steady 5.68% CAGR from 2016 to 2020.
The rising government support to the initiation of smart grid technology, particularly in developed regions such as Europe and North America, is a vital driver for the global market for automation solutions in the power industry. While smart grid technology hasn’t yet become common in developing countries, its widespread adoption in developed regions bodes well for the automation solutions market in the power industry. The vast growth potential for the smart grid market in emerging regions, due to the high population of countries such as China, India, and Brazil, is another crucial driver for the global automation solutions market in the power industry.
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The growing adoption of concepts and technology related to the Internet of Things in the power industry is another key driver for the global market for automation solutions in the power industry. The development of the IoT is closely connected with the development of automated machinery, which makes the power industry a stable market for automation solution providers.
The report examines the market for automation solutions in the power industry in Asia Pacific, the Americas, and Europe, the Middle East, and Africa. By type, the global market is segmented into distributed control systems (DCS), supervisory control and data acquisition systems (SCADA), programmable logic controllers (PLC), and manufacturing execution systems (MES).
Several leading providers of automation solutions to the power industry are profiled in the report. Key companies examined in the report include ABB, Rockwell Automation, Schneider Electric, Emerson Electric, Honeywell, and Siemens.
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