Southeast Asia Industrial Automation And Process Control Market is projected to reach USD 4,443.8 million by 2023

Southeast Asia Industrial Automation And Process Control Market By Product Type (DCS, PLC, SCADA, PLM), Industry Vertical (Textile, Oil & Gas, Food & Beverages, Life Sciences, Automotive, Packaging) – Opportunity Analysis & Industry Forecast To 2023

“Meticulous Research” in its latest publication states that, the “Southeast Asia industrial automation and process control market is projected to reach USD 4,443.8 million by 2023 growing at a CAGR of 8.1 % during the forecast period of 2018 to 2023.”

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Southeast Asia industrial automation and process control market driven by increasing government funding to promote the adoption of automated systems in various industrial verticals, flourishing demand for automation from various manufacturing sectors, growing innovations in industrial robotics, increasing technological advancements in manufacturing, and demand for mass production and associated supply chain to cater to the growing population.

In addition, growing digitalization and accelerating pace of change, industry 4.0 revolution, increasing demand for safety compliance of automation products, and growing manufacturing sector in emerging economies further provides significant opportunities for the various stakeholders in this market. However, factors such as rising unemployment, high capital investments, decreasing oil and gas prices affecting infrastructure related investments are expected to hinder the growth of the market to some extent.

Key Market Segments to Watch -

The Southeast Asia industrial automation and process control market is mainly segmented by product type (product lifecycle management, distributed control system, supervisory control and data acquisition systems, variable frequency drive, general motion controls, programmable logic controller, sensors and transmitters, manufacturing execution system, flowmeters, machine safety system, enterprise asset management, human machine interface, process safety system, and operator training simulator), industry vertical (process and discrete industry), and geography (Singapore, Vietnam, Thailand, Malaysia, Indonesia, Philippines, and others).

On the basis of type, the product lifecycle management system held the largest share in the global market and helps drive top-line revenue through repeatable process, maximizes the life-time value of the business process, and sets up single system of record for diverse data needs.

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