Factory Automation Platform as a Service Market Analysis Highlights Impact of COVID-19 2020-2024 | Ease of IT and OT Convergence to Augment Growth | Technavio

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.

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Technavio has announced its latest market research report titled Global Factory Automation Platform as a Service Market 2020-2024 (Graphic: Business Wire)

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. Download a Free Sample Report on COVID-19 Impacts

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.

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Ease of IT and OT convergence has been instrumental in driving the growth of the market. However, data privacy and security concerns might hamper the market growth.

Technavio's custom research reports offer detailed insights on the impact of COVID-19 at an industry level, a regional level, and subsequent supply chain operations. This customized report will also help clients keep up with new product launches in direct & indirect COVID-19 related markets, upcoming vaccines and pipeline analysis, and significant developments in vendor operations and government regulations.

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
• Geography
  • 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

Market Drivers

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 focus 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200702005155/en/