Economic Development and Capacity Expansion Plans Brighten Malaysian Automation and Control Market Outlook
-- The oil and gas and petrochemical sectors will be key sources of revenue for automation vendors, finds Frost & Sullivan
KUALA LUMPUR, Malaysia, April 23, 2015 /PRNewswire/ -- Priorities set by the Malaysian Government to boost economic development will drive the automation industry in the country. As the Economic Transformation Program has been launched in line with Vision 2020, which aims to make Malaysia part of the league of developed nations by 2020, several economic sectors are expected to witness rapid growth. This will open up lucrative opportunities for automation vendors.
New analysis from Frost & Sullivan, Automation and Control Market in Malaysia (http://www.frost.com/p819), finds that the market earned revenues of US$266.5 million in 2014 and estimates this to reach US$495.2 million in 2019. The study covers programmable logic controllers, supervisory control and data acquisition, distributed control systems, human machine interface, and safety systems.
The development of the industrial sector, a vital contributor to Malaysia's economy, will spur the need for automation and control systems in the country. Being the world's second-largest producer of palm oil, which brings in significant foreign exchange revenues, the Malaysia market will remain an attractive target for automation vendors.
"With industrialisation gathering momentum, new industries will present opportunities for automation vendors as it will become important to achieve economies of scale in the long run," said Frost & Sullivan Industrial Automation & Process Control Research Analyst Krishnan Ramanathan "For instance, with the emergence of the Internet of Things, the electronics and semiconductors industry will require automation solutions."
Nevertheless, the oil and gas, and chemicals and petrochemicals industries will remain indispensable for automation vendors to expand their revenues. As Malaysia is looking to establish itself as a hub for oil and gas exploration in Southeast Asia, numerous projects have been initiated in and around the country, strengthening the need for automation solutions.
Since Malaysia has always been a rich source of minerals and exploration, companies such as Shell have been active there for a long time. Ambitious plans to strengthen automation infrastructure due to the rising demand for energy and the expanding cement industry will keep the automation solutions market buoyant.
"Supported by a fairly stable economy and favourable political, social and economic environment, the Malaysian Government stands in good stead to execute its growth plans," noted Ramanathan. "Projects are set to be successfully implemented and completed without delays, thereby assuring a steady source of demand for automation and control systems."
For more information on this study, please email Donna Jeremiah, Corporate Communications, at [email protected].
Automation and Control Market in Malaysia is part of the Industrial Automation & Process Control (http://www.industrialautomation.frost.com) Growth Partnership Service program. Frost & Sullivan's related studies include: Automation and Control Market in the Philippines, Automation and Control Market in Emerging ASEAN countries: Laos, Cambodia and Myanmar, Automation and Control Market in Indonesia. All studies included in subscriptions provide detailed market opportunities and industry trends evaluated following extensive interviews with market participants.
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Automation and Control Market in Malaysia
P819-10
Contact:
Donna Jeremiah
Corporate Communications – Asia Pacific
P: +61 (02) 8247 8927
F: +61 (02) 9252 8066
E: [email protected]
Carrie Low
Corporate Communications – Asia Pacific
P: +603 6204 5910
F: +603 6201 7402
E: [email protected]
Melissa Tan
Corporate Communications – Asia Pacific
P: +65 6890 0926
F: +65 6890 0999
E: [email protected]
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