The industrial automation equipment (IAE) market is expected to grow in 2017, reversing two consecutive years of contraction, according to IHS Markit, manufacturing technology experts.
Last year, global industry revenue shrank 1.8% after also falling in 2015. The successive annual contractions were unprecedented, and they mirrored a similar decline in global revenue for machinery production and industrial automation capital expenditures during the last two years, writes IHS.
“This year’s growth, projected at 1.5%, will take place despite some headwinds, mainly in the form of low oil prices as well as a reduction in the sales of heavy machinery,” writes IHS.
Overall, discrete controllers and visualization equipment (as a part of automation equipment) will perform well this year, with global revenue for the segment predicted to grow at a compound annual growth rate of 3.4%—faster than the IAE market average, according to IHS.
Review seven important industry trends in 2017: http://bit.ly/IHSTrends2017