- Automation and control systems' assured return on investment boosts adoption
KUALA LUMPUR, Malaysia, Aug. 28, 2013 /PRNewswire/ -- The assured return on investment from automation and control systems has encouraged their uptake in emerging end-user segments, lending momentum to the automation and control market in Southeast Asia (SEA), Australia and New Zealand (ANZ). The need to improve safety and comply with industrial standards and regulations has further spurred market growth.
New analysis from Frost & Sullivan (http://www.frost.com/prod/servlet/svcg.pag/AEIN), Automation and Control Market for Emerging Sectors in SE Asia and ANZ, finds that the market earned revenues of more than US$282.2 million in 2012 and estimates this to reach US$427.9 million in 2018. End-user segments covered in the research include the alternate energy, smart grid and pharmaceutical sectors.
Attractive returns that outweigh the cost of purchase and installation of automation solutions have sustained investments in the automation and control market for emerging segments in SEA and ANZ.
"In addition, globalization has compelled emerging sectors in the region to catch up with already-developed end-user segments, forcing them to turn to automation and control solutions," saidFrost & Sullivan Industrial Automation and Process Control Senior Research Analyst Vandhana Venkatesan. "The need to boost safety through automation, meet industrial standards and regulations, and ease workflow operation has aided market development."
Increasing investments in the region's smart grid sector boosts opportunities for power distribution, paving the way for the large-scale uptake of automation and control solutions. The scope of the alternate energy source sectors adds to the market's potential in SEA and ANZ.
This potential must be taken full advantage of, especially as the presence of Chinese and regional market participants that provide low-quality solutions at lower prices has intensified competition. Automation vendors in the region need to educate end-users on the benefits of quality solutions that reduce machinery downtime.
"Technological improvements in terms of customization are crucial to cater to niche segments, and will drive the industry toward new avenues for revenue generation, such as cloud computing," noted Venkatesan. "Offering service support and training, which are key factors that determine end users' choice of automation vendors, will ensure market expansion."
If you are interested in more information on this research, please send an email to Donna Jeremiah, Corporate Communications, at djeremiah@frost.com, with your full name, company name, job title, telephone number, company email address, company website, city, state and country.
Automation and Control Market for Emerging Sectors in SE Asia and ANZ is part of the Industrial Automation & Process Control Growth Partnership Service program. Frost & Sullivan's related research services include: Automation and Control Markets in Emerging ASEAN Countries (Laos, Cambodia, and Myanmar). All research services included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
