International Automation Lifecycle Providers Market to Attain $61.11 Billion by 2022, Finds Frost & Sullivan

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Asia-Pacific is anticipated to account for 30.1% of the overall LCS market by 2022, adopted by North America

SANTA CLARA, California, Oct. 27, 2020 /PRNewswire/ — Frost & Sullivan’s current evaluation, Zeal for Productiveness and Revenue Pressures Speed up the Development of the International Automation Lifecycle Providers Market, 2019–2022, finds that the economic automation lifecycle providers market is more likely to expertise robust short-term progress regardless of COVID-19. Business end-users search a shift from handbook to digital workplaces, motion to on-line and inline steady monitoring, and a shift towards operational expenditure-based pricing fashions. The worldwide automation lifecycle providers (LCS) market is estimated to succeed in $61.11billion by 2022 from $52.64 billion in 2020, at a compound annual progress charge (CAGR) of seven.2%.

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For additional info on this evaluation, please go to: http://frost.ly/4os

Asia-Pacific (APAC) is anticipated to account for 30.1% of the overall LCS market by 2022, adopted by North America (28.9%), because of the commissioning of latest course of manufacturing vegetation and huge plant base,” stated Vasanth Krishnan, Senior Analysis Analyst, Industrial Follow. “Owing to the massive presence of the discrete and hybrids business, the EU shall be third with 27%. MEA and LATAM areas account for 13.9% of the market.”

Krishnan added: “Though Europe and North America are anticipated to be the fastest-growing areas with a CAGR of 8.2%, APAC is anticipated to bounce again strongly from COVID-19, with energy, chemical compounds, and water industries exhibiting robust restoration indicators. Within the Center East, integration of refining and petrochemicals is resulting in market consolidation, whereas LATAM is anticipated to witness robust restoration in 2021 and 2022, as soon as COVID-19 subsides.”

To faucet into the expansion prospects uncovered by the economic automation LCS market, distributors ought to give attention to the next:

  • Worth shift from {hardware} to software program: Automation distributors ought to assist purchasers in adopting digital applied sciences by minimizing the funding danger quotient with new enterprise fashions, reminiscent of product-as-a-service, pay-per-use, and licensing.
  • Cybersecurity as a service: Market members ought to work with cybersecurity and IT distributors to construct their cyber worth proposition. Added security measures will turn out to be a precedence for purchasers with an growing want for retrofit options.
  • Specializing in rising economies: Greater than 40% of end-user industries are based mostly in growing economies, particularly Center Jap and Asia-Pacific nations. Automation distributors ought to provide cost-effective merchandise with versatile servicing assist to realize market share on this area.
  • Strengthening digital functionality by means of partnerships and mergers and acquisitions: Along with providing industrial web of issues (IIoT)-ready options, automation distributors ought to forge strategic partnerships with pure-play IIoT suppliers so as to add worth to the present providing and allow them to be a single level of contact for end-users.

Zeal for Productiveness and Revenue Pressures Speed up the Development of the International Automation Lifecycle Providers Market, 2019–2022 is the newest addition to Frost & Sullivan’s Industrial Automation & Course of Management analysis and analyses obtainable by means of the Frost & Sullivan Management Council, which helps organizations establish a steady movement of progress alternatives to achieve an unpredictable future.

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Zeal for Productiveness and Revenue Pressures Speed up the Development of the International Automation Lifecycle Providers Market, 2019–2022

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