Automation market in textile industry 2023-2027; A descriptive analysis of the five forces model, market dynamics, and segmentation

NEW YORK, Jan. 17, 2023 /PRNewswire/ — According to Technavio, the global automation market size in textile industry is estimated to grow by USD 619.72 million from 2022 to 2027. The market is estimated to grow at a CAGR of 3.35{1668a97e7bfe6d80c144078b89af180f360665b4ea188e6054b2f93f7302966b} during the forecast period. APAC held the largest share of the global market in 2022, and the market in the region is estimated to witness an incremental growth of 45{1668a97e7bfe6d80c144078b89af180f360665b4ea188e6054b2f93f7302966b}. For more Insights on market size, Request a sample report

Technavio has announced its latest market research report titled Global Automation Market in Textile Industry 2023-2027

Technavio has announced its latest market research report titled Global Automation Market in Textile Industry 2023-2027

Automation market in textile industry – Five Forces
The global cloud data warehouse market is fragmented, and the five forces analysis covers–

  • Bargaining Power of Buyers

  • The threat of New Entrants

  • Threat of Rivalry

  • Bargaining Power of Suppliers

  • Threat of Substitutes

  • Interpretation of porter’s five models helps to strategize the business, for entire details – buy the report!

Automation market in textile industry – Customer Landscape 

The report includes the market’s adoption lifecycle, from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.

Automation market in textile industry – Segmentation Assessment

Segment Overview
Technavio has segmented the market based on component (field devices, control devices, and communication), solution (hardware, software, and services), and geography (APAC, Europe, North America, South America, and Middle East and Africa).

  • The market share growth by the field devices segment will be significant during the forecast period. The field devices segment had high demand in 2022 as these are the devices that are used to control the functions of hardware components like motors, drives, valves, and actuators. The demand for these field devices is expected to increase during the forecast period.

Geography Overview
By geography, the global automation market in textile industry is segmented into APAC, Europe, North America, South America, and Middle East and Africa. The report provides actionable insights and estimates the contribution of all regions to the growth of the global automation market in textile industry.

  • APAC will account for 45{1668a97e7bfe6d80c144078b89af180f360665b4ea188e6054b2f93f7302966b} of the market’s growth during the forecast period. The increasing awareness about return on investment among end-users in APAC has resulted in the upgrade of existing textile manufacturing facilities. In addition, the increasing export of textiles and high government emphasis on energy efficiency are driving the growth of the regional market.

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Automation market in the textile industry – Market Dynamics

Key factor driving market growth

  • The market is driven by upgrading industrial facilities to improve energy efficiency.

  • Textile manufacturers across the world are focusing on improving energy efficiency by investing in automation solutions.

  • Automation solutions help in improving operational functions and reducing cost.

  • These solutions help manufacturers maintain the same quality throughout the year.

  • Moreover, automation solutions help in reducing the workforce required to complete a task, thereby reducing operational costs.

  • Many such benefits are driving the growth of the global automation market in textile industry.

Leading trends influencing the market 

  • The use of ERP solutions in textile manufacturing plants is identified as the key trend in the market.

  • The incorporation of ERP solutions improve the overall efficiency of manufacturing plants.

  • ERP solutions enhance coordination between departments by improving communication and information exchange, which reduces approval time.

  • The adoption of ERP solutions also ensure smooth functioning of each department.

  • Many such benefits are increasing the use of ERP solutions in manufacturing plants.

  • This trend is expected to have a positive impact on the growth of the market during the forecast period.

Major challenges hindering market growth

  • Shortage of skilled workforce is a major challenge affecting market growth.

  • The market has a shortage of skilled labor. In addition to this, increasing labor wages are impacting the growth of market players.

  • The growing shortage of skilled labor is compelling manufacturers to provide their current workforce with additional training on how to operate each component.

  • This is increasing cost of manufacturing as well as downtime as it requires hours of training, which is affecting operations.

  • Such challenges are reducing the growth potential in the market.

Driver, Trend, and Challenges are the factors of market dynamics that state about consequences & sustainability of the businesses, find some insights from a sample report!

What are the key data covered in this automation market in textile industry report?

  • CAGR of the market during the forecast period

  • Detailed information on factors that will drive the growth of the automation market in textile industry between 2023 and 2027

  • Precise estimation of the automation market size and its contribution to the parent market

  • Accurate predictions about upcoming trends and changes in consumer behavior

  • Growth of the automation market in textile industry across APAC, Europe, North America, South America, and Middle East and Africa

  • A thorough analysis of the market’s competitive landscape and detailed information about vendors

  • Comprehensive analysis of factors that will challenge the growth of automation market in vendors textile industry

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Related Reports:

  • The industrial automation market in life sciences industry is estimated to grow at a CAGR of 10.31{1668a97e7bfe6d80c144078b89af180f360665b4ea188e6054b2f93f7302966b} between 2022 and 2027. The size of the market is forecast to increase by USD 4,127.65 million. Growing global demand for healthcare services is notably driving the market growth, although factors such as infrastructural and integration issues may impede the market growth.

  • The mobile robot platforms market is estimated to grow at a CAGR of 16.43{1668a97e7bfe6d80c144078b89af180f360665b4ea188e6054b2f93f7302966b} between 2022 and 2027. The size of the market is forecast to increase by USD 2,126.87 million. The changes in the global labor force are notably driving the market growth, although factors such as the high cost of deployment may impede the market growth.

Automation Market In Textile Industry Scope

Report Coverage

Details

Page number

167

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 3.35{1668a97e7bfe6d80c144078b89af180f360665b4ea188e6054b2f93f7302966b}

Market growth 2023-2027

USD 619.72 million

Market structure

Fragmented

YoY growth 2022-2023 ({1668a97e7bfe6d80c144078b89af180f360665b4ea188e6054b2f93f7302966b})

2.75

Regional analysis

APAC, Europe, North America, South America, and Middle East and Africa

Performing market contribution

APAC at 45{1668a97e7bfe6d80c144078b89af180f360665b4ea188e6054b2f93f7302966b}

Key countries

US, China, India, Pakistan, and Germany

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

ABB Ltd., ATE Pvt. Ltd., Baumuller Nurnberg GmbH, BrainChild Electronic Co. Ltd., Classic Loom Data, Cotmac Electronics Inc., Danfoss AS, Delta Electronics Inc., Festo SE and Co. KG, Hitachi Ltd., Honeybee Automation Pvt. Ltd., Honeywell International Inc., Lenze SE, Parker Hannifin Corp., Rockwell Automation Inc., Saurer AG, Schneider Electric SE, SIEGER SPINTECH EQUIPMENTS Pvt. Ltd., Siemens AG, and Yaskawa Electric Corp.

Market dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Table of contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by Component

7 Market Segmentation by Solution

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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Technavio Research
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UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Global Automation Market in Textile Industry 2023-2027

Global Automation Market in Textile Industry 2023-2027

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