Automation industry in Gulf region on track for double digit growth
New report suggests impact of new technologies set to grow hugely over next five years.
The Gulf region’s automation industry is on track for double digit growth over the next five years, as recovering oil prices and government economic diversification plans boost demand for industrial and building automation technologies, according to new research.
A July 2018 knowledge report by consulting firm TechSci Research said the GCC market for industrial and building automation will be worth $10.3bn in 2023, growing at a compound annual growth rate of 10.7% from an estimated $5.6bn in 2017.
Global events including the Dubai Expo 2020, and mega projects such as Saudi Arabia’s NEOM city are also driving forces behind advanced control systems and processes in infrastructure development, while a sharp focus on the manufacturing sector led by Industry 4.0 means companies are searching for technologies to boost production output at a higher quality.
The whitepaper stated that the GCC’s industrial automation market growth is further aided by a predominantly young and educated population that’s more aware of automation and its applications across various sectors.
Challenges hindering development include high initial investments in new technologies, while a lack of common standards among connected devices and communication protocols also needs to be addressed.
These challenges and potential solutions are among the many topics and issues that will be up for discussion at the inaugural SPS Automation Middle East conference and exhibition, which takes place from September 18-19th 2018 at Dubai’s Festival Arena.
TechSci’s knowledge report was issued ahead of the two-day summit, which is the region’s only dedicated automation industry event. The official launch partners include BECKHOFF Automation, Bosch Rexroth, SICK, Pilz, and LAPP.
Japanese headquartered Mitsubishi Electric is also a launch partner while American outfit Rockwell Automation has signed on as the show’s official automation sponsor.