According to ARC Advisory Group research, the automation services business is transitioning to a digitized service environment due to the adoption of more IIoT technologies. The automation services market has historically been a people-to-people business involving skilled technicians visiting the customers' site to deliver the services. This business model will continue to represent most of automation services for years to come, but a growing percentage of the business is transitioning towards a digitized service environment. Sustainability initiatives are also driving investments in automation. Governments around the world have shown an increasing appetite toward investing to become less dependent on unreliable foreign suppliers of energy. This increased focus on energy security, and helped drive investment activity in nuclear, LNG, and even fossil fuel power plants. Sustainability goals and environmental, social, and governance (ESG) mandates have taken the forefront of every business sector. For many of the heavy process industries, decarbonization impacts the entire value chain, including raw materials, manufacturing products materials and components, as well as consumption by consumers and disposal.
"Digital transformation is well underway in the process and discrete automation sectors, and the service mix of automation suppliers is evolving to meet the needs of the digitally-focused industrial economy. Automation suppliers are aggressively targeting IIoT-enabled services for remote monitoring and support of their customers’ plant assets. Additionally, the increasing application of artificial intelligence (AI) to address challenges across the plant lifecycle helps not only to fill the skills gap left by retiring workers, but also to give suppliers additional tools to perform predictive analytics and provide guidance to users on how to improve plant operations, increase maintenance effectiveness, and avoid unplanned downtime," according to Allen Avery, Senior Analyst and key author of ARC's Supplier Provided Automation Services Market Research.
Supplier Provided Automation Services Market Trends
In addition to providing detailed competitive market share data, the research also addresses key market trends as follows:
- Advancements in Radar
- Strategic Diversification
- Transforming Level Instruments
- Enhanced Ultrasonic Technology
Leading Suppliers to the Supplier Provided Automation Services Market Identified
In addition to providing specific market data and industry trends, this ARC market research also identifies and positions the leading suppliers to this market and provides and summarizes their relevant offerings. An alphabetical list of key suppliers covered in this analysis includes: ABB, Emerson Automation Solutions, Honeywell, Schneider Electric, Siemens.
About the Supplier Provided Automation Services Research
The Supplier Provided Automation Services research explores the current and future market performance and related technology and business trends and identifies leading technology suppliers. This new research is based on ARC’s industry-leading market research database, extensive primary and secondary research, and proprietary economic modelling techniques. The research includes competitive analysis, five-year market forecasts, and one year of historical analysis. The research segmentation includes Services by World Region, Product Type, Industry, and Service Type.
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