The global automation solutions in power industry is forecast to grow at a CAGR of 5.68% during the period 2016-2020.
Commenting on the report, an analyst from the research team said: Automation solutions in cloud is one of the recent trends gaining traction in the market. Automation solutions in the cloud are likely to be a next logical step in the evolution of automation technology in process industries.
Power companies can significantly reduce costs, achieve greater flexibility, and enhance functionality by shifting toward cloud-based environments. A cloud-based architecture shifts the task of displaying and maintaining data from the end-user to the cloud-service provider. It eliminates expenses related to the hardware layer of IT infrastructure of automation solutions such as MES and SCADA. It enables users to view data on devices such as tablets and smartphones, and also through email and text messages.
According to the report, compliance with stringent government regulations is a key driver propelling this market's growth prospects. Power companies worldwide are looking at automation as an effective means to comply with stringent regulations in their geography and deal with the increased scrutiny of regulatory bodies.
Regulatory authorities, especially in Europe and North America, have initiated strict regulations to reduce the carbon dioxide emissions from process industries such as power. Power generation, especially by thermal power plants, results in the emission of harmful greenhouse gases, which harms the natural environment and increases the risk of serious health hazards.
- What will the market size be in 2020 and what will the growth rate be?
- What are the key market trends?
- What is driving this market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the key vendors?
- What are the strengths and weaknesses of the key vendors?
- Emerson Electric
- Schneider Electric
- Koyo Electronics
- Mitsubishi Electric
- Parsec Automation
PART 01: Executive summary
PART 02: Scope of the report
PART 03: Market research methodology
PART 04: Introduction
PART 05: Market landscape
PART 06: Market segmentation by product
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
PART 14: Appendix
PART 15: About the Author
For more information about this report visit http://www.researchandmarkets.com/research/tjvw2t/global_automation
Related Topics: Industrial Automation , Electricity
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SOURCE Research and Markets