Market Trends of South Korea Factory Automation and Industrial Controls Industry
This section covers the major market trends shaping the South Korea Factory Automation & Industrial Controls Market according to our research experts:
Increasing Adoption of Internet of Things (IoT) and Machine-to-Machine Technologies to Drive the Market
- Data generated from IoT helps businesses understand and utilize patterns incorporated into the decision-making cycle to enhance product design and development. Data management strategies allow companies to detect errors quickly, analyze performance, and access metrics. These offer insights into product use that help spot development areas and improve existing product versions.
- Moreover, data management helps streamline and increase the effectiveness of operations in IoT-adopted infrastructure. While operating parts of a system, devices may deviate from established behavior patterns. Data management techniques help recognize deviations and alert the automation process handling team.
- According to a study by Korea Herald, South Korea's internet-of-things (IoT) device subscriptions hit over 10 million due to the growing use of automation and remote control services. According to the Ministry of Science and ICT data, the number of mobile connections to such devices stood at 10.05 million, up around 2 million from the previous year. Additionally, in 2021, there was approximately 1,335 Internet of Things service businesses in South Korea. This growing number of IoT subscriptions indicates a market boost in the region.
- Furthermore, several global acquisitions are directly driving the market's growth. For instance, during the pandemic, Emerson announced the acquisition of the ProgeaGroup, a provider of the Industrial Internet of Things (IIoT), plant analytics, human-machine interface (HMI), and supervisory control technologies. The activity justified offering solutions that increasingly optimize end-user energy and operating costs.
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Food and Beverage Sector to Register Fastest Growth
- Food and beverage companies increasingly use automated machine safety systems to reduce occupational injuries and improve production flexibility. Machine safety aids in increasing operational transparency across production lines and guaranteeing regulatory compliance.
- The food and beverage business aspires to produce high-quality, consistent goods cheaply. This is accomplished by executing an integrated approach of automated safety control systems, such as machine safety solutions, to make food and beverage operations more flexible, safer, and lucrative.
- Various firms are engaged in automation and providing machine safety solutions that are correctly planned and implemented to boost productivity and profitability in the food and beverage industry. For instance, Rockwell Automation released the "iTRAK5730," an automated track system. This solution is specifically intended to respond to trends and assist in enhanced throughput in food and beverage businesses, which are continually under pressure to package an enormous variety of products in more forms of packaging without compromising productivity and safety.
- For instance, in January 2021, MFDS introduced the automatic labeling system "Food Label Bot." This system is designed to assist enterprises in producing food labels efficiently. After entering the essential information, the system may provide an example of the food label.
Factory Automation and Industrial Control Market in South Korea Report Snapshots
- Factory Automation and Industrial Control Market in South Korea Market Size
- Factory Automation and Industrial Control Market in South Korea Market Share
- Factory Automation and Industrial Control Market in South Korea Market Trends
- Factory Automation and Industrial Control Market in South Korea Companies
