Connect with us

Technology

Industrial Automation Market to Grow by USD 107.1 Billion (2024-2028) as AI Drives Market Transformation – Technavio Report

Published

on

NEW YORK, Sept. 5, 2024 /PRNewswire/ — Report with the AI impact on market trends- The global industrial automation market  size is estimated to grow by USD 107.1 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 9.45%  during the forecast period. Changing market dynamics is driving market growth, with a trend towards increasing need for open platform architecture for automation software. However, technical challenges  poses a challenge. Key market players include ABB Ltd., Azbil Corp., Danfoss AS, Dassault Systemes SE, Emerson Electric Co., Endress Hauser Group Services AG, FANUC Corp., Fuji Electric Co. Ltd., General Electric Co., Hitachi Ltd., Honeywell International Inc., KROHNE Messtechnik GmbH, OmniVision Technologies Inc., OMRON Corp., Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, WIKA Alexander Wiegand SE and Co. KG, and Yokogawa Electric Corp..

AI-Powered Market Evolution Insights. Our comprehensive market report ready with the latest trends, growth opportunities, and strategic analysis- View your snapshot now

Forecast period

2024-2028

Base Year

2023

Historic Data

2018 – 2022

Segment Covered

Product (SCDA, PLC, DCS, Drives, and Sensors), End-user (Process industry and Discrete industry), and Geography (APAC, North America, Europe, South America, and Middle East and Africa)

Region Covered

APAC, North America, Europe, South America, and Middle East and Africa

Key companies profiled

ABB Ltd., Azbil Corp., Danfoss AS, Dassault Systemes SE, Emerson Electric Co., Endress Hauser Group Services AG, FANUC Corp., Fuji Electric Co. Ltd., General Electric Co., Hitachi Ltd., Honeywell International Inc., KROHNE Messtechnik GmbH, OmniVision Technologies Inc., OMRON Corp., Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, WIKA Alexander Wiegand SE and Co. KG, and Yokogawa Electric Corp.

Key Market Trends Fueling Growth

Industrial automation solutions play a crucial role in managing manufacturing plant functions. Open-platform automation software enables users to customize and modify its functionality, benefiting Original Equipment Manufacturers (OEMs) by enhancing product operational capabilities and connectivity options. This architecture offers flexibility through the use of various runtime platforms and third-party tools, ensuring interoperability and reducing project costs. Open-source SCADA systems, such as WinCC Open Architecture by Siemens and Open Enterprise V3 by Emerson Electric, are examples of this technology, providing operational efficiency and cost savings. 

The industrial sector is embracing automation and technology to boost productivity and reduce labor costs. Automation processes in manufacturing are trending with the integration of robotics, artificial intelligence, and machine learning. Material handling is being transformed through the use of sensors like temperature, humidity, and torque sensors. Networking architectures, analytics, cloud, mobility, and IoT technology are revolutionizing industrial automation. Strategic partnerships and the adoption of 5G wireless technology and IIoT are driving growth in sectors like healthcare, transportation, mining and metal, aerospace and defense. Automation technologies like AC motors, labeling equipment, Human Machine Interface, Programmable Logic Controllers, and Input/Output Sensors are essential components. Technological advancements in AI, machine learning, and automation processes are enhancing safety compliance and real-time data analysis. Augmented reality (AR) and Virtual reality (VR) are also gaining traction in the industry. Computer software solutions for quality control and automation technologies are essential for businesses to stay competitive. Efficiency and productivity are the key benefits of these technological advancements. 

Insights on how AI is driving innovation, efficiency, and market growth- Request Sample!

Market Challenges

In the realm of industrial controls and factory automation, the integration of the Industrial Internet of Things (IIoT) or Industry 4.0 brings about numerous advantages, such as real-time communication and heightened reliability. However, these benefits come with intricate design challenges, particularly at the control level. The control level, consisting of Programmable Logic Controllers (PLCs), Supervisory Control and Data Acquisition (SCADA) systems, motor drives, controllers, and Distributed Control Systems (DCS), faces complexities due to the need for real-time data communication and an escalating number of nodes. Moreover, continuous product development and advanced machinery adoption in Industry 4.0 further complicate industrial automation design, specifically in factory automation and smart factories. Despite vendors’ efforts to create flexible machine designs by collaborating with OEMs, manufacturers, and system integrators, the dynamic nature of the automation solutions industry influences the investment landscape and raises Capital Expenditures (CAPEX) for industrial operators. These factors may hinder the market growth in the forecast period.The Industrial Controls and Factory Automation market is experiencing significant growth due to the increasing adoption of digital technologies. Key challenges include integrating AI and machine learning for predictive maintenance, ensuring temperature, humidity, torque sensors’ accuracy in healthcare, transportation, mining and metal, aerospace and defense sectors. AC motors and labeling equipment require advanced automation technologies for efficiency and productivity. Human Machine Interface, Programmable Logic Controllers, and Input/Output Sensors need real-time data and safety compliance. Robotics, Computer Software, and Quality Control benefit from technological advancements, strategic partnerships, and digital technologies like 5G wireless, IoT, AR, and VR. AI and machine learning training programs are crucial for workforce development. DC motors also require automation for optimal performance. Overall, the market focuses on improving efficiency, productivity, and ensuring technological compliance. 

Insights into how AI is reshaping industries and driving growth- Download a Sample Report

Segment Overview 

This industrial automation market report extensively covers market segmentation by

Product 1.1 SCDA1.2 PLC1.3 DCS1.4 Drives1.5 SensorsEnd-user 2.1 Process industry2.2 Discrete industryGeography 3.1 APAC3.2 North America3.3 Europe3.4 South America3.5 Middle East and Africa

1.1 SCDA-  SCADA (Supervisory Control and Data Acquisition) systems play a crucial role in monitoring and optimizing industrial processes in various sectors. The primary functions of SCADA include real-time data acquisition, device interaction, and event logging. In manufacturing, diverse field instruments such as valves, drives, relays, switches, and sensors are used across different locations. Real-time analysis of data from these devices is essential for data-driven decision-making, enhancing operational efficiency and cost optimization. Cloud computing and cloud-based Software-as-a-Service (SaaS) have revolutionized SCADA systems, offering benefits such as scalable server space, off-site IT support, low cost, and easy accessibility from remote locations. Cloud-based SCADA systems store and maintain software and data in the cloud, providing users with benefits like flexibility and ease of upgrading applications. However, storing mission and process safety-related data on a cloud-platform comes with risks, such as dependency on communication network reliability and potential productivity losses. Despite these risks, the benefits of cloud-based SCADA systems outweigh the challenges, making them an attractive option for manufacturers. This trend is expected to drive growth in the SCADA market, particularly in end-user industries, providing opportunities for vendors.

Download complimentary Sample Report to gain insights into AI’s impact on market dynamics, emerging trends, and future opportunities- including forecast (2024-2028) and historic data (2018 – 2022) 

Research Analysis

The Industrial Controls and Factory Automation market is experiencing significant growth due to the increasing demand for automation in various industries, including manufacturing and healthcare. Robotics and artificial intelligence are key technologies driving automation processes, enabling increased productivity and efficiency while reducing labor costs. Networking architectures, analytics, cloud, mobility, and the Internet of Things (IIoT) are also playing crucial roles in enhancing industrial automation. Sensors, such as temperature, humidity, torque, and others, are essential components of industrial automation systems, providing real-time data for monitoring and control. The market spans various sectors, including transportation, mining and metal, aerospace and defense, and healthcare, with 5G wireless technology set to revolutionize communication and data transfer in industrial automation applications. Automation in manufacturing is a major focus, with AI and machine learning enabling predictive maintenance and optimizing production lines. The integration of IIoT and cloud technologies is enabling remote monitoring and control, providing real-time insights and reducing downtime. The future of industrial automation is bright, with continued innovation and advancements expected to drive growth and efficiency in various industries.

Market Research Overview

The Industrial Controls and Factory Automation market is witnessing significant growth due to the increasing demand for automation in various industries, including manufacturing, healthcare, transportation, mining and metal, aerospace and defense, and more. Robotics, artificial intelligence (AI), and machine learning are key technologies driving automation processes in this sector. Productivity enhancement, labor cost reduction, and safety compliance are primary factors fueling the market’s growth. Networking architectures, IoT technology, 5G wireless technology, and digital technologies are essential components of modern industrial automation systems. Advanced sensors, such as temperature sensors, humidity sensors, torque sensors, and others, play a crucial role in real-time data collection and analysis. Automation technologies, including computer software, human-machine interface, programmable logic controllers, input/output sensors, and robotics, are essential for optimizing manufacturing processes and improving efficiency. Quality control and safety compliance are also critical aspects of industrial automation, ensuring the production of high-quality goods and adherence to regulatory standards. Strategic partnerships, technological advancement, and training programs are essential for companies to stay competitive in this rapidly evolving market. The use of AI, machine learning, and other digital technologies is transforming the way industries operate, from predictive maintenance to remote monitoring and control. Labeling equipment, AC and DC motors, and various automation components are essential parts of the industrial automation ecosystem. The integration of augmented reality (AR) and virtual reality (VR) technologies is also gaining popularity, offering new possibilities for remote training and maintenance. In conclusion, the Industrial Controls and Factory Automation market is a dynamic and innovative sector, driven by the need for productivity, efficiency, and safety in various industries. The integration of advanced technologies, such as AI, machine learning, IoT, and digital technologies, is transforming the way industries operate and compete in today’s global economy.

Table of Contents:

1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation

ProductSCDAPLCDCSDrivesSensorsEnd-userProcess IndustryDiscrete IndustryGeographyAPACNorth AmericaEuropeSouth AmericaMiddle East And Africa

7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/industrial-automation-market-to-grow-by-usd-107-1-billion-2024-2028-as-ai-drives-market-transformation–technavio-report-302239698.html

SOURCE Technavio

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

SHEIN Ramps Up Denim Production Using Cool Transfer Denim Printing by 90% in 2024

Published

on

By

Almost 380,000 pieces of denim apparel were produced in 2024 using this process

SINGAPORE, Jan. 6, 2025 /PRNewswire/ — SHEIN is transforming the way its denim is being produced by increasing its adoption of Cool Transfer Denim Printing, a technology that consumes less water and energy compared to traditional denim manufacturing methods, while at the same time creating a more streamlined production process.

Approximately 380,000 pieces of SHEIN’s denim apparel produced in 2024 were made using the Cool Transfer Denim Printing process, saving over 10,000 metric tons of water compared to traditional denim production techniques. This marks a 90% increase from 2023, when 200,000 denim pieces were made using this innovative method. Since introducing Cool Transfer Denim Printing in 2022, SHEIN has saved nearly 19,500 metric tons of water. These milestones illustrate the company’s ability to scale innovation within its supply chain, integrating advanced manufacturing practices, while promoting resource efficiency.

Traditional denim manufacturing is known for being resource-intensive, requiring vast amounts of water and energy for processes such as dyeing, bleaching, and washing. Recognizing these challenges, SHEIN partnered with NTX® in 2021 to introduce Cool Transfer Denim Printing, an innovative process that not only minimizes the use of water and energy but also simplifies the production cycle, ensuring precision and efficiency at every step.

This method of printing involves a digital printer using reactive ink to print denim textures, artwork or patterns onto a transfer film. The designs on the transfer film are then imprinted onto white denim fabric using cold transfer equipment, replicating the effects of washing denim to produce features like faded finishes, whiskering, and retro-worn effects. Verified by Bureau Veritas in October 2023, the process reduces water usage by 70.5% compared to conventional denim washing methods.

In addition to the savings in water and energy, the Cool Transfer Denim Printing process eliminates the need for workers to be in contact with harmful chemicals, such as chlorine and caustic soda, which may be used in traditional denim production. By reducing exposure to these substances, SHEIN aims to foster safer working conditions for workers providing support on denim production.

Innovative On-demand Denim Production Process Aimed at Reducing Water

The integration of Cool Transfer Denim Printing complements SHEIN’s on-demand business model, which leverages a digitalized supply chain to match customer demand with merchandise supply. SHEIN’s process involves launching new products in small initial batches of 100-200 items, assessing customer feedback in real-time, and restocking items based on demand. This approach ensures that suppliers produce what customers want, while helping to reduce overproduction and excess inventory.

Cool Transfer Denim Printing’s streamlined and efficient production process aligns perfectly with this methodology. By simplifying denim manufacturing and enabling precise replication of intricate designs and effects, the technology supports smaller production runs that can be quickly scaled based on customer interest. This synergy allows SHEIN to produce denim pieces to meet demand, while at the same time working towards reducing any additional waste.

Unlocking New Creative Opportunities

Cool Transfer Denim Printing is also a catalyst for creativity and innovation. This technology provides designers with unprecedented flexibility to produce vibrant, intricate, and highly detailed prints that were once challenging to achieve with traditional methods.

The process enables precise replication of denim textures and effects. These capabilities open up limitless possibilities for SHEIN’s design teams, allowing them to craft unique and standout denim pieces that resonate with diverse customer preferences and push the boundaries of modern fashion.

This initiative is part of SHEIN’s broader strategy to accelerate change in manufacturing processes, become more resource-efficient and promote innovation in the future of fashion.

View original content to download multimedia:https://www.prnewswire.com/news-releases/shein-ramps-up-denim-production-using-cool-transfer-denim-printing-by-90-in-2024-302342810.html

SOURCE SHEIN

Continue Reading

Technology

CYPFER Collaborates with Hollywood Powerhouse Michael Bay to Fortify Cybersecurity in the Film and Entertainment Industry

Published

on

By

Protecting Intellectual Property and Creative Assets Becomes Paramount in Hollywood

MIAMI, NEW YORK, TORONTO, LONDON, and DUBAI, UAE, Jan. 6, 2025 /PRNewswire/ – CYPFER, a global leader in cybersecurity, is thrilled to announce its work with Michael Bay, the iconic filmmaker behind blockbuster franchises like Transformers, Bad Boys, and 13 Hours. Known for redefining modern action cinema, Bay’s films have achieved unparalleled success, earning critical acclaim for their stunning visuals and groundbreaking sequences.

This initiative aims to strengthen cybersecurity in the film and entertainment industry, focusing on protecting intellectual property, creative assets, and the digital operations of high-profile productions.

“In today’s entertainment landscape, protecting the creative work that powers our films is as critical as the production itself,” says Michael Bay. “Cyber threats targeting the film industry are on the rise, and ensuring that scripts, footage, and digital assets remain secure is a top priority.”

“The entertainment industry is increasingly targeted by cybercriminals, and securing high-value assets like scripts is vital,” says Daniel Tobok, CEO of CYPFER. “We are proud to support a visionary like Michael Bay and bring our cybersecurity expertise to protect his work and the Hollywood ecosystem.”

“The risks in digital filmmaking are greater than ever,” Bay adds. “CYPFER’s cybersecurity expertise gives me confidence that my work is secure, allowing me to focus on delivering unforgettable stories to audiences worldwide.”

“At CYPFER, we’re committed to protecting the creative assets that drive industries like film and entertainment,” concludes Tobok. “This effort sets a new standard for cybersecurity in Hollywood, ensuring that Michael Bay’s groundbreaking work remains secure against evolving threats.”

About CYPFER

CYPFER is on a global mission to help companies create Cyber Certainty™. With an experienced  team of incident responders, threat researchers, seasoned ransom experts, and data restoration experts, CYPFER is the trusted firm for leading law firms, insurance carriers and  global organizations. CYPFER’s cybersecurity professionals are located across the US, Canada,  UK, and Caribbean. The CYPFER team is ready to respond and help clients experiencing cyber attacks 24x7x365. CYPFER’s experts provide white-glove service and aim to restore Cyber Certainty™ for all clients on every engagement.

CYPFER’s core services include:

Ransomware Advisory

Incident Response Services with specialized expertise in ransomware response and recovery

On-site and/or remote post-breach restoration support to augment internal teams

Digital Forensics to uncover malicious activity, insider threats, and protect sensitive data

Global Incident Response Retainer Services guaranteeing priority access to ransomware advisory, incident response, and recovery support for swift resolution

CYPFER has offices in the USA, Canada, the United Kingdom, Mexico, the Cayman Islands, and the UAE. The company currently employs around 200 cybersecurity experts and has supported clients across six continents. CYPFER is executing plans to expand globally and aims to boast a workforce of 300 cybersecurity professionals by the end of 2025.

View original content:https://www.prnewswire.com/news-releases/cypfer-collaborates-with-hollywood-powerhouse-michael-bay-to-fortify-cybersecurity-in-the-film-and-entertainment-industry-302341270.html

SOURCE CYPFER

Continue Reading

Technology

transcosmos bolsters integrated fulfillment services in Japan via business alliance with DMS

Published

on

By

Further expands global e-commerce one-stop services that cover about 40 countries and regions worldwide

TOKYO, Jan. 6, 2025 /PRNewswire-PRWeb/ — transcosmos hereby announces that the company today, December 23, 2024, began a business alliance with DMS Inc. (Headquarters: Tokyo, Japan; Representative Director and President: Katsuhiko Yamamoto), a company offering logistics and sales promotion services for direct mail and online shopping companies.

Integrating transcosmos’s know-how acquired through operating e-commerce business and CX enhancement solutions built on DMS’s services, transcosmos will streamline its operations while helping clients expand their sales, ultimately leading clients to success.

Along with recent trends and changes in the e-commerce market, every e-commerce business is carrying out a variety of initiatives to deliver a greater customer experience while retaining competitiveness, as is already well known. In particular, to increase repeat customers and strengthen brand loyalty, it is a must to offer a greater post-purchase customer experience. To meet the growing e-commerce business demands, transcosmos will expand its logistics business drastically, focusing on the scalability and quality of its CX fulfillment business.

Under this new business alliance, the two companies will enhance their respective logistics centers—transcosmos’s e-commerce one-stop center Kitakashiwa and DMS’s logistics centers for direct mail and online shopping—through the following initiatives:

Reduce delivery lead time by expanding logistic centers and utilizing centers located in both east and west Japan Increase services by utilizing the latest technologies for logistics DX including automation as well as utilizing printing equipment for catalogue and direct mailOptimize delivery costs by the mutual use of the two companies’ competitive delivery fee by package size

With the initiatives above, the two companies will deliver the best possible services by expanding logistics centers that guarantee the same level of service quality for both companies.

transcosmos e-commerce one-stop services

In addition, transcosmos will add DMS’s CRM services centered around the DMS member database and direct mail to transcosmos e-commerce one-stop service lineup. With the new services in place, transcosmos will further strengthen its sales marketing services by diversifying both digital marketing and real promotion.

Integrating transcosmos’s know-how acquired through operating e-commerce business and CX enhancement solutions built on DMS’s services, transcosmos will streamline its operations while helping clients expand their sales, ultimately leading clients to success.

About transcosmos e-commerce one-stop services
transcosmos e-commerce one-stop services help clients in various ways that best match each client’s needs. The options include: 1) use transcosmos’s managed services that ranges from e-commerce website development and operations, fulfillment (receipt of goods, picking, packaging, and shipping), customer care, web marketing, analysis and more, 2) launch your e-commerce business by yourself, and 3) sell your products via transcosmos’s e-commerce sales channels.
Visit transcosmos e-commerce solution website here (no translation available): https://transcosmos-ecx.jp/

transcosmos is a trademark or registered trademark of transcosmos inc. in Japan and other countries.Other company names and product or service names used here are trademarks or registered trademarks of respective companies.

About DMS Inc.
With a history of over 60 years since foundation, DMS has built a solid customer base offering its core direct mail services as well as logistics, sales promotion, event services across a range of areas where companies and public-sector organizations directly communicate with consumers. Today, DMS is providing integrated information solutions that help companies solve challenges, optimize communication, and create a well-being society by fusing digital and real-world services through promoting alliance with digital companies. For more details, please visit DMS’s solution website, +D SOLUTION here: https://www.dmsjp.co.jp/en/

About transcosmos inc.
transcosmos launched its operations in 1966. Since then, we have combined superior “people” with up-to-date “technology” to enhance the competitive strength of our clients by providing them with superior and valuable services. transcosmos currently offers services that support clients’ business processes focusing on both sales expansion and cost optimization through our 182 bases across 35 countries/regions with a focus on Asia, while continuously pursuing Operational Excellence. Furthermore, following the expansion of e-commerce market on the global scale, transcosmos provides a comprehensive One-Stop Global E-Commerce Services to deliver our clients’ excellent products and services to consumers in 46 countries/regions around the globe. transcosmos aims to be the “Global Digital Transformation Partner” of our clients, supporting the clients’ transformation by leveraging digital technology, responding to the ever-changing business environment. Visit us here https://www.trans-cosmos.co.jp/english/

Media Contact

transcosmos inc., transcosmos inc., +81-3-6709-2251, pressroom@trans-cosmos.co.jp, https://www.trans-cosmos.co.jp/english/

View original content to download multimedia:https://www.prweb.com/releases/transcosmos-bolsters-integrated-fulfillment-services-in-japan-via-business-alliance-with-dms-302342734.html

SOURCE transcosmos inc.

Continue Reading

Trending