NEW YORK, June 30, 2021 /PRNewswire/ — APAC contributes to the highest incremental growth of 55% to the MRO market for automation solutions in the diversified support services industry during the forecast period, as per Technavio.
ABB Ltd., Emerson Electric Co., and Honeywell International Inc. are the three major market participants for the MRO market for automation solutions in the diversified support services industry.
«Growth in the outsourcing of operations and the increasing penetration of Industry 4.0 in many regions globally will further boost market growth during the forecast period,» says a senior analyst at Technavio.
Technavio offers an up-to-date analysis regarding the current global market scenario and the overall market environment.
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Impact of COVID-19
The COVID-19 pandemic continues to transform the growth of various industries, however, the immediate impact of the outbreak is varied. COVID-19 will have at Par impact on the MRO market for automation solutions market. As per Technavio’s pandemic-focused market research, market growth is likely to increase in 2021 as compared to 2020.
The MRO market for automation solutions in the diversified support services industry is expected to grow by USD 33.79 billion, progressing at a CAGR of over 7% during 2021-2025, as per the new report from Technavio. The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
MRO Market for Automation Solutions in the Diversified Support Services Industry 2021-2025: Key Highlights
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will assist the MRO market for automation solutions market growth during the next five years
- Estimation of the MRO market for automation solutions market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the MRO market for automation solutions market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of the MRO market for automation solutions market vendors
MRO Market for Automation Solutions in the Diversified Support Services Industry 2021-2025: Vendor Analysis and Scope
To help businesses improve their market position, Technavio provides a detailed analysis of around 25 vendors operating in the MRO market for automation solutions. ABB Ltd., Emerson Electric Co., Honeywell International Inc., Mitsubishi Electric Corp., OMRON Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, W.W. Grainger Inc., and Yokogawa Electric Corp. are some of the major market participants.
- MRO Market for Automation Solutions Market Size
- MRO Market for Automation Solutions Market Trends
- MRO Market for Automation Solutions Market Industry Analysis
This study identifies the criticality of ensuring uninterrupted industrial operations as one of the prime reasons driving the MRO Market for Automation Solutions Market growth during the next few years. However, the limited presence of service providers with multi-vendor product knowledge may threaten the growth of the market.
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Key Topics Covered:
- Executive Summary
- Market Landscape
- Market Sizing
- Five Forces Analysis
- Market Segmentation by End-user
- Market Segmentation by Geography
- Customer landscape
- Geographic Landscape
- Vendor Landscape
- Vendor Analysis
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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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Report link: https://www.technavio.com/report/mro-market-for-automation-solutions-market-industry-analysis
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