Global Industrial Automation in Life Sciences Industry Growth of 5.69% CAGR by 2020 - Cybersecurity Risks a Key Market Challenge - Research and Markets

May 25, 2016, 05:10 ET from Research and Markets

DUBLIN, May 25, 2016 /PRNewswire/ --

Research and Markets has announced the addition of the "Global Industrial Automation in Life Sciences Industry 2016-2020"  report to their offering. 

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The report forecasts the global industrial automation in life sciences industry market to grow at a CAGR of 5.69% during the period 2016-2020. 

An emerging trend in this market is the increased use of automation solutions on cloud. The life sciences industry is using cloud to better leverage genomic research, open innovation, and collaboration. Cloud adoption is done in case of MMS, calibration management system (CMS), ERP, DCS, SCADA, and PLC systems. Cloud-based software-as-a-service is likely to be a next logical step in the evolution of automation technology in the life sciences industry. The end-users are becoming more comfortable with the concept of service-based technology architecture. Automation providers and end-users can significantly reduce costs, achieve greater flexibility, and enhance functionality by shifting toward the cloud-based environment. 

According to the report, a key growth driver is the changing demographics. The growing prevalence of chronic diseases, rising consumer wealth, and aging of the average population are expected to boost the demand for life sciences products, thus necessitating the need for automation of manufacturing and operational processes. Population is aging in developed countries, including Western Europe and Japan. Life expectancy is estimated to increase from 72.4 years in 2014 to 73.6 years in 2020; as a result, the number of people aged more than 65 years will increase to over 606 million or 10.9% of the global population. People aged more than 65 years is estimated to form 22% in Western Europe and 29% in Japan. The rise in life expectancy results from a number of factors such as enhanced living conditions, prevention of communicable diseases, improved sanitation, and growing access to medicine. 

Further, the report states that one challenge that could impede market growth is third party access. Such access raises the risk of data breaches and IP leaks. 

Key vendors:

  • Rockwell Automation
  • Siemens
  • ABB
  • Emerson Electric

Key Topics Covered: 

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 

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SOURCE Research and Markets