Global Automation Lifecycle Services Market to Reach $61.11 Billion by 2022, Finds Frost & Sullivan

For further information on this analysis, please visit: http://frost.ly/4os For further information on this analysis, please visit:http://frost.ly/4os " Asia-Pacific(APAC) is expected to account for 30.1% of the total LCS market by 2022, followed byNorth America(28.9%), due to the commissioning of new process manufacturing plants and large plant base," said Vasanth Krishnan , Senior Research Analyst, Industrial Practice. "Owing to the large presence of the discrete and...

For further information on this analysis, please visit: http://frost.ly/4os

"Asia-Pacific (APAC) is expected to account for 30.1% of the total LCS market by 2022, followed by North America (28.9%), due to the commissioning of new process manufacturing plants and large plant base," said Vasanth Krishnan, Senior Research Analyst, Industrial Practice. "Owing to the large presence of the discrete and hybrids industry, the EU will be third with 27%. MEA and LATAM regions account for 13.9% of the market."

Krishnan added: "Although Europe and North America are expected to be the fastest-growing regions with a CAGR of 8.2%, APAC is expected to bounce back strongly from COVID-19, with power, chemicals, and water industries showing strong recovery signs. In the Middle East, integration of refining and petrochemicals is leading to market consolidation, while LATAM is expected to witness strong recovery in 2021 and 2022, once COVID-19 subsides."

To tap into the growth prospects exposed by the industrial automation LCS market, vendors should focus on the following:

Zeal for Productivity and Profit Pressures Accelerate the Growth of the Global Automation Lifecycle Services Market, 2019–2022 is the latest addition to Frost & Sullivan's Industrial Automation & Process Control research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.

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Zeal for Productivity and Profit Pressures Accelerate the Growth of the Global Automation Lifecycle Services Market, 2019–2022

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