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News Release from: ABB Automation
Edited by the Manufacturingtalk Editorial
Team on 22 August 2007
ABB ranked as leading automation
supplier
A study 'Automation Supplier Provided Services Worldwide Outlook' ranked ABB in the leading market position in this rapidly growing market space.
Industry analyst ARC Advisory Group ranked ABB in the leading position in the rapidly growing automation market in a recently published study titled 'Automation Supplier Provided Services Worldwide Outlook' The study reports that the total worldwide market for these services was close to US$14 billion at the end of 2006, and will increase by more than US$10 billion over the next five years, to US$24.9 billion in 2011 (a compound annual growth rate of 12.3%)
This article was originally published on Manufacturingtalk on 20 Dec 2005 at 8.00am (UK)
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The growing shortage of skilled labour among end users was cited as a primary contributor to the expanding global services market.
As the current automation workforce ages and retires, and the pool of potential replacement workers continues to shrink, end users will more frequently look to automation companies to provide expanded services and support.
Research director for Process Industries, ARC, Larry O'Brien, said: "As the largest automation services supplier, ABB is riding the crest of this ever increasing market".
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"With the wide range of traditional and expanded services it offers across the plant life cycle, ABB is well positioned to help its customers in all industries fill the engineering and resident knowledge gap that continues to widen as more experienced workers retire and leave the automation industry".
Project services and other traditional services were still in strong demand, but services provided during the operational phase of the plant contributed too much of the overall market growth.
Services include, as follows.
* Asset management.
* Loop tuning.
* Performance management.
* Overall maintenance outsourcing services.
The ARC study notes that market shares of the leading suppliers are driven by the suppliers' strength in process automation.
Head of ABB's Process Automation division, Veli-Matti Reinikkala, commented: "As the world's leading process automation supplier, ABB has dedicated resources that are committed to helping our customers meet and overcome their operational challenges throughout the lifecycle of their automation installation.
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." 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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