PLC acquired the largest share in the Middle East Industrial Automation Market- 6Wresearch
PLC would continue to account for prominent revenue share in the market on the back of applicability and penetration into different sectors like oil and gas, pharmaceutical, chemicals, metals, and others.
According to 6Wresearch, Middle East Industrial Automation Market size is projected to grow at a CAGR of 10.2% respectively during 2022-2028. The market is growing due to several government initiatives in the respective countries, focusing on economic diversification of oil-based economies accompanied with increase in manufacturing sector output in order to gain traction in global commodity market. The economy in Middle east is projected to grow on the back of robust economic diversification programmes by all oil-based countries as contribution of revenues from non-oil sector has risen on account of large capital investment in industrial sector in order to meet national and regional demand, and to strengthen their export prospectus. However, the Middle East Industrial Automation Market was negatively impacted on account of the widespread pandemic and subsequent lockdown imposed by the government.
According to Ravi Bhandari, Research Head, 6Wresearch, “Oil and gas sector accounted for highest revenue share for industrial automation market and is expected to witness the same in future years owing to its largest contribution in country’s GDP.”
“Middle East Industrial Automation Market (2022-2028)” report provides an in-depth analysis with 56 figures and 14 tables, covered in 109 pages. Key Countries Industrial Automation Market report thoroughly covers market by Product and Verticals. Key Countries Industrial Automation Market report provides an unbiased and detailed analysis of the on-going market trends, opportunities/high growth areas and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.