Technavio has been monitoring the automation market in textile industry and it is poised to grow by $ 346.92 mn during 2020-2024, progressing at a CAGR of about 2% during the forecast period. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment.
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Technavio has announced its latest market research report titled Global Automation Market in Textile Industry 2020-2024 (Graphic: Business Wire)
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Frequently Asked Questions:
- What are the major trends in the market?
Robotic automation in the textile industry is a major trend driving the growth of the market.
- At what rate is the market projected to grow?
The year-over-year growth for 2020 is estimated at -1.25% and the incremental growth of the market is anticipated to be $ 346.92 mn.
- Who are the top players in the market?
ABB Ltd., Danfoss AS, Festo SE & Co. KG, Lenze SE, Parker Hannifin Corp., Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Yokogawa Electric Corp., are some of the major market participants.
- What is the key market driver?
The increasing demand for control devices and applications is one of the major factors driving the market.
- How big is the APAC market?
The APAC region will contribute 58% of the market share.
The market is fragmented, and the degree of fragmentation will accelerate during the forecast period. ABB Ltd., Danfoss AS, Festo SE & Co. KG, Lenze SE, Parker Hannifin Corp., Robert Bosch GmbH, Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Yokogawa Electric Corp. are some of the major market participants. The increasing demand for control devices and applications will offer immense growth opportunities. To make most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
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Automation Market in Textile Industry 2020-2024: Segmentation
Automation Market in Textile Industry is segmented as below:
- Hardware And Software
- North America
- South America
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Automation Market in Textile Industry 2020-2024: Scope
Technavio presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources. The automation market in textile industry report covers the following areas:
- Automation Market in Textile Industry Size
- Automation Market in Textile Industry Trends
- Automation Market in Textile Industry Analysis
This study identifies the increasing demand for robotic automation from the textile industry as one of the prime reasons driving the market growth during the next few years.
Technavio suggests three forecast scenarios (optimistic, probable, and pessimistic) considering the impact of COVID-19. Technavio’s in-depth research has direct and indirect COVID-19 impacted market research reports.
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Automation Market in Textile Industry 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist automation market growth in textile industry during the next five years
- Estimation of the automation market size in textile industry and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the automation market in textile industry market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of automation market vendors in textile industry
Table of Contents:
- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Solution
- Market segments
- Comparison by Solution
- Hardware and software - Market size and forecast 2019-2024
- Services - Market size and forecast 2019-2024
- Market opportunity by Solution
Market Segmentation by Component
- Market segments
- Comparison by Component
- Field devices - Market size and forecast 2019-2024
- Control devices - Market size and forecast 2019-2024
- Communication - Market size and forecast 2019-2024
- Market opportunity by Component
- Customer landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers – Demand led growth
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- ABB Ltd.
- Danfoss AS
- Festo SE & Co. KG
- Lenze SE
- Parker Hannifin Corp.
- Robert Bosch GmbH
- Rockwell Automation Inc.
- Schneider Electric SE
- Siemens AG
- Yokogawa Electric Corp.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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