According to the report analysis, ‘Europe Industrial Automation Equipment (iae) Market By Equipment Type, Industry Vertical, And Country 2014-2025: Growth Opportunity And Business Strategy’ states that the Europe industrial automation equipment (IAE) market had a value of USD 53.68 billion in 2018 and will grow at a moderate CAGR over 2019-2025 fostered by a continued acceptance of IAE in a magnitude of industries in the region. However, from the Industrial internet of things (IIoT) to the IO-Link communication, numerous trends in the industrial automation have attained the adhesion in the recent past years and have become more than just industry catchwords. The technology of IIoT is possibly the prevalent trend in the recent time in factory automation, and IIoT technologies previously impact the manner factories operate. This trend will endure in the near years as more businesses build the conversion from digital to IIoT. Therefore, it is indispensable to appreciate the terms being utilized, distinguish how the IIoT technologies are at present being executed in smart factories, and formulate your business for the coming years.
Moreover, the report of Europe industrial automation equipment also suggests that there are numerous key players which are presently functioning in this market more actively for leading the fastest market growth and registering the highest value of market share in the near future while developing the technologies in the premises and improving the existing strategies of working includes ABB Ltd., Azbil Corporation, Bharat Heavy Electrical Ltd, Danaher Corporation, Emerson Electric Co., Fanuc Corp., General Electric Co., Hitachi, Ltd., Honeywell International Inc., Johnson Controls Inc, Metso Corporation, Mitsubishi Electric Corp., Nextnine Ltd, NovaTech Process Solutions LLC, Omron Corporation, Rockwell Automation Inc., Samsung Electronics, Schneider Electric SE, Siemens AG, Toshiba Machine Co., Ltd., Yaskawa Electric Corp., Yokogawa Electric Corporation and several others.
The acceptance of the IO-Link communication endures to cultivate both in the US and across the globe. One of the significant assistance of IO-Link is that it delivers the managers with real-time sensor-level data that was once problematic, if not impossible, to admittance. For many manufacturers, such devices propose the unexploited impending for the superior conspicuousness into their operations and more progressive, data-driven decision making.
With the IO-Link, device-level data can be made reachable to the operators and plant managers, delivering the appreciated insight into the machine performance, procedure inefficiencies, and many more. The Real-time isolated watching of sensor status enables the operators to address matters as they ascend, and often resolve anxieties before they deteriorate to line cessation.
There are numerous compensations of an IO-Link system comprising the standardized and reduced wiring, augmented the data availability, remote configuration and monitoring, simple device substitution, and advanced diagnostics.
However, based on the applications, the market is segmented into Oil & Gas, Automotive & Transportation, Mining & Metals, Machine Manufacturing, Energy and Power, Electrical & Electronics, Aerospace & Defense, Chemical Industry, Pharmaceuticals, Food & Beverages and several other Industries. Therefore, with the efficient applications, the market of Europe industrial automation equipment will increase more positively over the coming years.
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Ankur Gupta, Head Marketing & Communications