Overview of the global MRO market for automation solutions
Technavio’s market research analyst predicts that the MRO market for automation solutions will grow at a steady CAGR of close to 13% during the forecast period. Automation has become the norm for many manufacturers as they have to optimize operations and produce quality products in a short period. Automation requires continuous maintenance and repair of equipment to achieve efficiency. Consequently, manufacturers choose to outsource MRO to third party vendors as it costs them a lot of money and time to carry out MRO activities. As a result of market demand, the MRO market for automation solutions has resulted in outsourcing by both process and discrete industries.
Since the MRO market for automation solutions is quite complex, many services providers are using analytics tools to help in predicting maintenance activities so that errors can be identified and reduced as early as possible. For instance, Siemens is partnering with SAP to set up a new platform in the cloud for users. Simulation is used to identify possible errors early so that there is no system failure. Some of the other advantages of the HANA cloud platform are operation optimization, ability to forecast production, detecting deviations in processes, and predictive modeling.
End-user segmentation and analysis of the MRO market for automation solutions
- Discrete
- Process
The process industry dominates the global MRO market for automation solutions of which the power industry is the biggest segment. An emphasis on generating power by wind farms and solar power has required servicing, maintenance and monitoring of different types of equipment. The MRO services for automation solutions for the process industry is expected to grow at a CAGR of close to 14% during the forecast period.
Geographical segmentation and analysis of the MRO market for automation solutions
- Americas
- APAC
- EMEA
The APAC region is the largest segment of the MRO market and is expected to generate revenues of close to USD 49 billion by the end of 2020. Countries like Japan, China and India were the major contributors to the market during 2015 due to investment in automated production plants. The growing need for OEMs to improve productivity is propelling the growth of the MRO services market.
Competitive landscape and key vendors
A number of factors influence the MRO market for automation solutions. Some of them have to do with services offered, product performance, knowledge of integrated systems and product quality. Intense competition is very likely among vendors based on these variables and on cost too.
Key vendors in the market are -
- ABB
- Honeywell
- Rockwell Automation
- Siemens
- W.W. Grainger
The other prominent vendors in this market include Bilfinger, Brammer, Emerson Electric, General Electric, Omron, Rexel, Schneider Electric, Toshiba, WESCO International, Wood, Yokogawa Electric, Yaskawa, and Mitsubishi Electric.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global MRO market for automation solutions?
- What are the key market trends impacting the growth of the global MRO market for automation solutions?
- What are the challenges to market growth?
- Who are the key vendors in the global MRO market for automation solutions?
- What are the market opportunities and threats faced by the vendors in the global MRO market for automation solutions?
- Trending factors influencing the market shares of the Americas, APAC, and EMEA.
- What are the key outcomes of the five forces analysis of the global MRO market for automation solutions?
Technavio also offers customization on reports based on specific client requirement.
Related reports
- Global Process Automation and Instrumentation Market 2016-2020
- Industrial Automation Control Market in APAC 2016-2020
- Global Plant Automation Solutions Market 2016-2020
Most industries today are becoming more mindful of customer needs, forcing them to develop new and resourceful ways to reduce costs, improve quality, and to ensure the best possible customer service. Services form a major part of the industrial automation market with maintenance, repair, support, operations, and updates. A majority of the end-users are outsourcing these services to solution providers or third party companies who can monitor and support the requirement of the end-users. The liability on operations and support are completely transferred to the vendors by the end-users thereby leaving the end-users to concentrate on the core process.
The global MRO market for automation solutions report is part of Technavio’s Industrial Automation research portfolio. This portfolio provides a comprehensive market analysis along with the market share, market sizing, and market segmentations covering areas such as automation and robotics. These market research reports provide a perspective on the various market opportunities and market threats along with the key trends that would influence the market growth during the forecast period. It presents insights into the changing competitive landscape and a detailed profiling and market analysis of the vendors. Also covered in the research are the key regions or countries that would have an impact on the market during the assessment years.