Factory Automation Platform as a Service Market Analysis – Impact of Covid-19
Published on : Saturday 04-07-2020
Technavio has announced its latest market research report titled Global Factory Automation Platform as a Service Market 2020-2024.
July 02, 2020 – Technavio has been monitoring the factory automation platform as a service market and it is poised to grow by $ 2.92 bn during 2020-2024, progressing at a CAGR of over 20% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. Although the Covid-19 pandemic continues to transform the growth of various industries, the immediate impact of the outbreak is varied. While a few industries will register a drop in demand, numerous others will continue to remain unscathed and show promising growth opportunities. Technavio’s in-depth research has all your needs covered as our research reports include all foreseeable market scenarios, including pre- & post-Covid-19 analysis.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. Advantech Co. Ltd., Emerson Electric Co., Hitachi Ltd., Honeywell International Inc., Microsoft Corp., Mitsubishi Electric Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Telit Communication Plc are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
Key Highlights:
1- CAGR of the market during the forecast period 2020-2024
2- Detailed information on factors that will assist factory automation platform as a service market growth during the next five years
3- Estimation of the factory automation platform as a service market size and its contribution to the parent market
4- Predictions on upcoming trends and changes in consumer behaviour
5- The growth of the factory automation platform as a service market
6- Analysis of the market’s competitive landscape and detailed information on vendors, and
7- Comprehensive details of factors that will challenge the growth of factory automation platform as a service market, vendors.