ABB Tops Automation Services Market Share Worldwide

Aug. 10, 2007
Global labor shortage behind growth of market.

Last week ARC Advisory group named ABB as the largest automation services supplier.

"As the need for expanded services continues to grow along with the worldwide shortage of skilled technical resources, we will be ready to meet this increasing customer demand with the service products, programs, expertise and experience that will keep their operations running efficiently and profitably," said Veli-Matti Reinikkala, head of ABB's Process Automation division

A study by ARC Advisory group reports that the total worldwide market for these services was close to $14 billion at the end of 2006, and will increase by more than $10 billion over the next five years, to $24.9 billion in 2011.

According to ARC, mature markets such as North America, and Europe, as well as the Middle East and Africa, currently constitute the bulk of the market for automation services. Going forward, the developing economies of China, the rest of Asia, and Latin America will be increasing sources of services revenue growth and opportunity.

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