September 29, 2020

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Research Report: Global Factory Automation Platform as a Service Market 2020-2024 | Ease of IT and OT Convergence to Boost Market Growth | Technavio

LONDON–(BUSINESS WIRE)–#FactoryAutomationPlatformasaServiceMarket–Technavio has been monitoring the global factory automation platform as a service market size and it is poised to grow by USD 2.92 billion during 2020-2024, progressing at a CAGR of 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.


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Frequently Asked Questions:

  • Based on segmentation by service, which is the leading segment in the market?
    The platform segment is the leading segment in the market.
  • What are the major trends in the market?
    Increasing focus on edge computing is a key trend in the market.
  • At what rate is the market projected to grow?
    The market is expected to grow at a CAGR of 20% during the forecast period
  • Who are the top players in the market?
    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.
  • What are the key market drivers and challenges?
    The ease of IT and OT convergence is one of the key drivers in the market. However, data privacy and security concerns might hamper the market growth.
  • How big is the North America market?
    North America will contribute 37% of the market growth.

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. The ease of IT and OT convergence will offer immense growth opportunities. To make 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.

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Factory Automation Platform as a Service Market 2020-2024: Segmentation

Factory Automation Platform as a Service Market is segmented as below:

  • Service

    • Platform
    • Professional Service
  • Geographic

    • North America
    • APAC
    • Europe
    • South America
    • MEA

To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR41239

Factory Automation Platform as a Service Market 2020-2024: Scope

Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The factory automation platform as a service market report covers the following areas:

  • Factory Automation Platform as a Service Market Size
  • Factory Automation Platform as a Service Market Trends
  • Factory Automation Platform as a Service Market Industry Analysis

This study identifies the increasing focus on edge computing as one of the prime reasons driving the Factory Automation Platform as a Service Market growth during the next few years.

Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.

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Factory Automation Platform as a Service Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist factory automation platform as a service market growth during the next five years
  • Estimation of the factory automation platform as a service market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the factory automation platform as a service market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of factory automation platform as a service market vendors

Table of Contents:

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 – 2024

Five Forces Analysis

  • Five Force Summary
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Service

  • Market segments
  • Comparison by Service
  • Platform – Market size and forecast 2019-2024
  • Professional service – Market size and forecast 2019-2024
  • Market opportunity by Service

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • North America – Market size and forecast 2019-2024
  • APAC – Market size and forecast 2019-2024
  • Europe – Market size and forecast 2019-2024
  • South America – Market size and forecast 2019-2024
  • MEA – Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Volume driver – Demand led growth
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Advantech Co. Ltd.
  • Emerson Electric Co.
  • Hitachi Ltd.
  • Honeywell International Inc.
  • Microsoft Corp.
  • Mitsubishi Electric Corp.
  • Rockwell Automation Inc.
  • Schneider Electric SE
  • Siemens AG
  • Telit Communication Plc

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research

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UK: +44 203 893 3200

Email: media@technavio.com
Website: www.technavio.com/

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