Market Share of Asia Pacific Factory Automation and Industrial Controls Industry
The Asia Pacific factory automation and industrial controls market is competitive due to several players in the market. Players are involved in product development and strategic activities such as partnerships, mergers, and acquisitions. Some of the key developments in the market are:
- April 2021 - Youibot, a start-up company that makes industrial robots, closed an investment of USD 15.47 million in the funding round led by SoftBank Ventures Asia alongside others. The company generates 80% of its annual revenue in China and has plans to spend the raised funds on research and development.
- March 2021 - Singapore Telecommunications and Hyundai Motor Company entered into an MoU to collaborate and develop a 5G-enabled smart factory use case for the manufacturing platform of Hyundai Motor Group Innovation Centre Singapore.
- February 2021 - Mitsubishi Electric announced the establishment of Industrial Mechatronics Systems Works within the premises of the company's Nagoya Works in Nagoya, Japan.
APAC Factory Automation and Industrial Controls Market Leaders
ABB Limited
Siemens AG
Schneider Electric SE
Yokogawa Electric Corporation
Rockwell Automation Inc.
*Disclaimer: Major Players sorted in no particular order
