Automation suppliers continue to benefit from strong demand for automation services across the entire spectrum of the plant lifecycle and the scope of nearly all automation products and applications. Expect ever-increasing market growth through the next five years, concludes a new study from the ARC Advisory Group.
According to Larry O'Brien, research director at ARC, "The total service market served by the automation suppliers approached $14 billion in 2006 and will grow at an average annual rate of over 12% through 2011."
Revenue growth will be concentrated in the developing economies of China, the rest of Asia and Latin America, adds O'Brien. He says the Chinese market, for example, will be more than double the size of Japan by 2008 for automation services provided by suppliers.