Automation Control Components and Devices Market 2020 Comprehensive Analysis and Future Estimations 2023

Market Highlights

The Global Automation Control Components and Devices Market is growing at a significant rate, and this trend is expected to continue during the forecast period. The key players operating in the global automation control components and devices market are heavily investing in the manufacturing of key components required for automation and acquire the players who develop the latest and advanced automation control technologies. Automation control components and devices help the companies to improve product quality and reliability and also to reduce the overall cost of maintenance for industrial automation control systems. Business owners consider all these factors before deciding which components to procure at their manufacturing plants. ABB Limited is one of the many suppliers of automation control components and offers drives, programmable controller (PLC) automation, robotics, semiconductors, motors & generators, high & medium voltage products, transformers, and mechanical power transmission, among others. The company focuses on enhancing its product portfolio and expanding its capacity, and their partner company ecosystem to support the customers in the designing, developing, and deploying infrastructure solution.

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Key Developments

In August 2018, Omron introduced the NX-series safety network controller. This supports two safety protocols namely CIP Safety, which is adopted by industrial robot manufacturers, and Safety over EtherCAT*3 (FSoE) that provides a high-speed response.

In May 2018, Rockwell launched a new family of Micro800 family PLC to help the optimization of control architecture in large standalone machines or systems. The new Micro870 PLC has three plug-ins and eight I/O modules and can support smart micro applications. Furthermore, the PLC supports modular programming and user-defined function blocks to reduce design time.

In February 2017, Schneider partnered with the French Engie to implement new digital solutions for efficient operations of wind and solar farms. The partnership aims at making use of SCADA for asset management, remote monitoring, diagnostics, and cybersecurity.

Key Players

The Key Players in the Automation Control Components and Devices Market are identified across all the major regions based on their country of origin, presence, recent key developments, product diversification, and industry expertise. Some of them are Panasonic Corporation, Omron Corporation, Control Components Inc, Schneider Electric SE, ABB Limited, Phoenix Contact, Delta Electronics, LUTZE Group, Encoder Products Company Inc, Baumer Ltd, Rockwell Automation, Honeywell International Inc, and Siemens AG. These players contribute significantly to market growth. Apart from the top key players, the other players contribute nearly 35–40% in the automation control components and devices market.

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Regional Analysis

For the study of automation control components and devices market, several primaries and secondary research were conducted, which helped us analyze the market for major regions such as North America, Europe, Asia-Pacific, and the rest of the world. The study on automation control components and devices revealed the dominance of North America in this market. The manufacturers of components, such as relays, switches, and sensors, in the US, have experienced an exponential demand from the automation solution providers. Industrial automation has transformed the scenario of doing business. Every industry such as food processing and beverages, chemicals, metal, and mining industry requires the usage of small components on a large scale. These components help the companies to operate the machinery, or even program it for automation. In addition to the growth of automation control components in the US, Mexico is expected to show the highest CAGR during the forecast period. The reason for the growth is the increased adoption of industrial automation in oil & gas, and mining industries in Mexico.

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