Buildings, residential and commercially, collectively consume 42% of the world's energy. However, due to ineffective building management systems, 50% of the energy used in buildings is getting wasted. IndustryARC says that the global electrical automation market size was at $27.64 billion in 2018 and the opportunities are mounting at a CAGR of 4% over the forecast period. The report is titled: “[URL=https://industryarc.com/PressRelease/952/Electrical-Automation-Market-Research.html]Electrical Automation Market[/URL]: By Types (Fixed or Hard Automation & Others) By Process (Sensors, Actuators & Others) By EA Tools (Human Machine Interface (HMI) & Others) By Functional Area (Industrial Electrical Automation, Building Electrical Automation & Others) By Application (Lift Control, Robotics, Energy & Emissions & Others), By Geography – Forecast (2019-2025).” Global Electrical Automation Market: Demand Analysis
Automation the process uses several control systems with minimal human intervention. It is utilized in various applications starting from household thermostat controlling a boiler to a huge industrial control system. Relay logic is the primary development of sequential control, through which electrical relays employ the electrical contacts that are either to start or stop the power supply to a device.
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Global Electrical Automation Market: Leading Segments
Europe held the leading share of 36.19% in the global electrical automation market as of 2018. A wave of automation technologies and investments of ABB, Bosch, BMW, and Siemens in artificial intelligence are propelling the growth of the Europe electrical automation market.
Electrical automation system design plays an indispensable role in building automation systems. The intelligent building application segment of the electrical automation market is currently most lucrative, expanding at a CAGR of 5.94% during the above-mentioned forecast period.
Global Electrical Automation Market: Disruptive Trends
Widespread application of electrical automation in power grid dispatching, substation, the distribution system and also in improving the production efficiency in power plants.
Energy conservation in the distribution line, reactive power compensating system, illuminating system, and light-current system are augmenting the significance of industrial electrical automation.
Broad development space for optimization of production with less cost, to monitor and improve the performance of electrical equipment in electrical engineering is driving the growth of electrical automation technology.
Global Electrical Automation Market: Competitive Landscape
Siemens, ABB, Emerson Process Management, Rockwell Automation, Schneider Electric, Honeywell process solutions, Mitsubishi electric, Yokogawa electric, Omron automation, and Danaher Industrial Ltd
About IndustryARC: IndustryARC is a Research and Consulting Firm that publishes more than 500 reports annually, in various industries such as Agriculture, Automotive, Automation & Instrumentation, Chemicals and Materials, Energy and Power, Electronics, Food and Beverages, Information Technology, and Life sciences and Healthcare.