The automation industrial monitors market is expected to proliferate over the next ten years. This will be driven by the increased utilization of industrial automation monitors across different industries, including discrete and process industries. Expos and trade shows are helping automation industrial monitors OEMs to grow their client base, driving the market growth. Therefore, it is essential to analyze the effects of covid-19 on the automation industrial monitors market. The sudden spread of covid-19 has meant governments worldwide were forced to order stringent lockdowns and closure of facilities. This has had a mixed effect on the automation industrial monitors market. The export and import operations for such equipment have taken a setback for these reasons.
The Global Automation Industrial Monitors market is expected to witness a CAGR of 6.46% during the forecast period. The revenue generated by the global Automation Industrial Monitors market in 2021 was over USD 304.04 million and is expected to generate revenue worth USD 484.90 million in 2028. Therefore, the incremental growth opportunity offered by the global Automation Industrial Monitors is estimated to be USD 2.84 billion between 2022 and 2028.
Interesting Facts about Automation Industrial Monitors Industry
Screen Size Below 12″, Screen Size Between 12″-17″, and Screen Size Above 17″ are significant types of Automation Industrial Monitors.
S. is the largest market for Automation Industrial Monitors with over 25% share in 2021
UK, Germany, and France held over 50% of the Europe Automation Industrial Monitors Market.
China, Japan, and South Korea to govern the growth of Automation Industrial Monitors in the Asia Pacific region.
Industrial Automation will be a significant growth driving factor in the future.
COVID 19 Left Considerable Impact on Automation Industrial Monitors Market
Covid-19 has affected the world economy in a number of ways. It has had a direct effect on demand and production. The outbreak has created market as well as supply chain disruptions. The outbreak has also had a detrimental impact on financial markets. Once the covid crisis is over, markets around the world are expected to make a recovery. This will have a positive effect on the automation industrial monitors market.
Wide-Ranging Applications of Automation Industrial Monitors
Automation Industrial Monitors find applications across numerous fields in Process Industries and Discrete Industries. Industrial monitors find applications in various industries, including energy management, oil rigs, food and beverage, marine ports, mining operations, and smart factories. The rugged nature of industrial monitors differentiates them from other kinds of monitors. This is expected to drive the market's growth over the next decade. Industrial monitors are constructed from robust materials, and the design employed makes these monitors capable of withstanding the challenging industrial environment.
Increasing Complexity of Industrial Processes
Industrial processes are becoming increasingly complex, which positively affects the automation industrial monitors market. Due to increased complexity, industrial processes rely more on innovative Distributed Control Systems and SCADA-based systems to automate factories. These systems are deployed across a broad spectrum of industries, including automotive, power, mining, oil and gas, as well as other industries, to automate the monitoring of processes. Furthermore, display monitors are now essential for tracking processes and critical parameters due to the increasing complexity of operations. Hence, the increase in SCADA and distributed control systems is expected to boost the automation industrial monitors market in the coming years.
Ever Increasing Industrial Automation
The greater use of industrial automation monitors in discrete and process industries is fueling the market's growth. The global automation industrial monitors market is expected to expand rapidly over the next ten years. A key driving factor for this rapid growth is increased production processes and control automation. Methods are becoming increasingly automated both in the discrete and process industries. This will lead to a boost in demand for industrial automation monitors.
Key market players are striving to develop the latest automation industrial monitors with the most innovative functions that can help to boost user experience. The development of multi-role automation industrial monitors will streamline the monitoring of process parameters and plant status. Prominent players involved in manufacturing industrial automation monitors include AAEON, Advantech, Hope Industrial Systems, Rockwell Automation, Siemens, Axiomtek, Barco, Beckhoff Automation, and Computer Dynamics (CIMTEC Automation), Edge Electronics, Honeywell, Kontron, and Litemax Electronics.
Frequently asked questions about global Automation Industrial Monitors industry
Likewise other industries, COVID 19 also taken a toll on Automation Industrial Monitors market with around 10.49% decline in its revenue in 2020 as compare to 2019
North America is the largest regional market with highest share in the total volume of Automation Industrial Monitors consumed in 2021
Strong growth of process and industry and rising adoption of automation in industrial process to fuel the growth of this industry
Screen Size Between 12″-17″ segment dominated the Automation Industrial Monitors market in 2021 with over 40% share
Process Industries segment was the largest application of Automation Industrial Monitors in 2021 with over 35% share
Market Size Valuation, Share Analysis and Growth Rate by Segments such as Type and Application, Company Share, Competitive Landscape and Trends Analysis
