Vietnam Industrial Automation
Market is expected to register a high CAGR during the forecast period
2024-2028. The Vietnam Industrial Automation Market is expected to grow during
the forecast period owing to favorable government initiatives for the adoption
of automated systems. Vietnam needs to find a method to keep its competitive
advantage while keeping up with technical advancements as it works toward
industrialisation. Automation in manufacturing gives operators useful
information to increase productivity and decrease human error, such as
employing sensors to monitor machine conditions so businesses can be notified
when maintenance is necessary rather than having more expensive routine checks
or unexpected breakdowns. Moreover, in the coming years, firms would automate
67% of new tasks and 75% of old operations, according to foreign and domestic
investors, and over 25% of domestic enterprises' operational chores are
expected to be automated by the end of 2023, indicating increased interest in
the industry. Over the past three years, roughly 10% of these tasks have been
automated.
Industrial automation is the
integration of technology and automatic control devices that leads to the automatic
operation and control of a variety of industrial processes without considerable
human interaction to achieve performance superior to manual control. Automation
is most often used to describe the development and use of technology to monitor
and regulate the production and delivery of goods and services. The market for
industrial automation and processing control in Vietnam is expanding
because of several factors, including favorable government initiatives to
encourage the adoption of automated systems in various industrial verticals and
growing investments, rising demand for automation from various manufacturing
sectors, consistently rising innovations, especially in industrial automation
systems, and growing demand for mass production with reduced operational costs.
Growth of the Connected
Enterprise to Drive the Market During the Forecast Period
Industrial automation is being
driven by linked enterprise in several ways. A connected enterprise is one in
which all the systems and devices are linked and exchange real-time
information. Owing to their increased efficiency, productivity, and agility,
businesses are better equipped to adapt quickly to shifting market conditions.
Using IoT devices and sensors is one way that linked enterprise is promoting industrial
automation. IoT devices enable real-time monitoring and control of industrial
processes, allowing businesses to optimise their processes and cut costs. For
instance, sensors can be used to track machine performance and forecast
maintenance requirements, allowing businesses to plan repairs before an issue
arises, minimising downtime and boosting productivity. Overall, the rise of
connected enterprise is fueling industrial automation by allowing businesses to
increase their productivity, efficiency, and agility. The usage of IoT devices,
data analytics, and machine learning is anticipated to increase in popularity
as more businesses adopt connected enterprise solutions, furthering automation
in industrial applications, which is driving the Vietnam Industrial Automation
market.
Growth of the E-commerce is
Fueling the Market Growth
Vietnam industrial automation is
being driven by the country's e-commerce industry, which is expanding rapidly.
E-commerce has fundamentally changed Vietnam retail sector, and recent
years have seen a huge increase in online sales. Owing to this increase, there
is now a substantial need for logistics, fulfilment, and warehousing services
that are quicker and more effective. E-commerce businesses are spending
substantially in industrial automation technology such as robotics, automated
guided trucks, and warehouse management systems as they work to meet the rising
demand for goods. To better fulfil consumer demand, these technologies can aid
e-commerce businesses in streamlining their processes, lowering costs, and
increasing efficiency. Industrial automation can also assist in addressing some
of the difficulties the Vietnamese e-commerce market is currently experiencing,
including a lack of skilled labor, growing labour prices, and the need for
faster and more accurate order processing. E-commerce businesses can overcome
these difficulties and increase their bottom line by automating procedures such
as inventory management, order picking, and packaging. To increase efficiency
and competitiveness in the nation's manufacturing sector, the Vietnamese
government is also promoting the adoption of industrial automation
technologies, which is driving the Vietnam Industrial Automation market.
IoT and AI use in Industrial
Applications
Over the past few years, Vietnam
has steadily embraced IoT (Internet of Things) and AI (Artificial Intelligence)
in industrial settings. The demand for better efficiency, productivity, and
competitiveness has been the driving force for the development of these technologies.
The industries are one setting where IoT and AI have seen widespread adoption.
To manage inventory levels, enhance quality control, and monitor and optimize
manufacturing processes, IoT devices including sensors, cameras, and RFID tags
are employed. These devices create data, which is analyzed by machine learning
and AI-powered analytics to produce insights that can be used to boost
operational effectiveness and cut costs.
Growing Use Of Industrial Robots
in Automated Manufacturing
There has been an increase in
the use of industrial robots to automate manufacturing and this trend is
predicted to continue in the years to come. To increase efficiency,
productivity, and quality, industrial robots are utilized in a variety of
sectors, including the automotive, electronics, food and beverage, and
pharmaceutical industries. For enterprises to stay competitive in the market,
industrial robot usage must increase. Industrial robots have a high degree of
accuracy and consistency when doing repeated activities, which can save
manufacturing costs and boost product quality. Robots are becoming more
adaptive and agile owing to these technologies, which means they can now manage
more complex production processes and a wider range of activities. Overall, as
industries try to stay competitive, increase efficiency, and adapt to shifting
market conditions, a trend that is likely to continue is the rising deployment
of industrial robots for the automation of production.
Increasing Use Of Deep Learning
And Machine Vision Systems
An emerging trend in industrial
automation over the past few years has been the growing integration of machine
vision systems with deep learning. Industrial automation uses machine vision
systems to give machines visual feedback so they may make decisions based on
what they observe. Machines are now able to make more educated decisions based
on the visual input they receive owing to the combination of deep learning with
machine vision systems. In manufacturing and industrial operations where accuracy
and precision are essential, this integration is particularly helpful.
Manufacturers can boost production and efficiency by automating activities that
were previously carried out manually by utilising machine vision systems with
deep learning.
High Operating Cost
The two primary categories of
industrial automation costs are startup costs and continuous operating costs.
Start-up expenses refer to the upfront costs of purchasing infrastructure,
software, and equipment necessary to implement an automated system. This
entails investing in automated equipment, modernising current facilities, and
appointing trained professionals to set up and manage the automated systems.
The price of educating staff members to use and maintain automated systems
should also be considered. Thus, automating the sectors becomes difficult due
to the high initial investment and operating expenditures. Therefore, with the
high initial investment and operating costs, automating the industries becomes
a challenge.
Recent Development
- Vietnam Industrial Automation Fiesta 2023
is being introduced to help industrial suppliers, engineering services
providers, and sub-contractors connect with end users, engineering firms,
original equipment manufacturers, and sub-contractors in both general manufacturing
and highly precise manufacturing in the region. The exhibition aims to
maximise interaction between industry professionals from Plant &
Factory Engineering, Production, Maintenance, R&D & Project
Engineering, QA/QC & Lab, Safety, Environmental, Facility Management,
Purchasing, and other engineering related departments to learn about new
technologies being used in various industries.
- In 2021, Mitsubishi Electric Vietnam has
introduced several types of cutting-edge industrial automation equipment
to the market and developed the e-F@ctory concept. The Mitsubishi Electric
e-F@ctory idea makes use of IoT technology (Internet of Things) to extract
hidden benefits from already-existing resources through integrated
automation to improve efficiencies, save costs, and boost total
production.
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Market Segments
The Vietnam Industrial
Automation market is segmented on the basis of component, industry, vertical
and region. Based on component, the market is further bifurcated into hardware
and software. Based on hardware segment, the market is further segmented into
Industrial Sensors, Machine Vision Systems, Field Instruments, Industrial
Robots, Human machine Interface, AC Motor Drive, Servo System, CNC Controller,
Programmable Logic Controller, and Others. The software segment is further
divided into networking, management, data analysis and optimization, and
others. Based on industry, the market is separated into machine tool industry,
energy equipment/mining/utilities, electrical/electronic, manufacturing,
plastics/rubber machinery, textile/fabric/coating machinery, packaging,
machinery, food & beverage machinery, industrial robotics, logistics and transportation,
equipment, wood working machinery, building materials machinery & fluid
machinery, and others. Based on vertical, the market is further segmented into
machine tool industry, automotive & transportation, fluid machinery,
metals, plastics, paint industry, packaging, cement, steel, and others. On the
basis of region, the market is divided into Northern, Southern, and Central.
Market Players
Major market players in Vietnam
Industrial Automation Market are Fuji CAC Joint Stock Company, Asean Trading
And Engineering Joint Stock Company, Haison Company Ltd, GNN Co., Ltd.(
Vietnam), Dat Technology Company Limited (DAT), Autotech Services &
Technical Solutions Jsc., Huynh Bang Company Ltd., Omega Automation Electric
Co., Ltd, Siemens Ltd. (Vietnam), and Honeywell International. To achieve good
market growth, businesses that are active in the market employ organic tactics
such as product launches, mergers, and partnerships.
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Attribute
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Details
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Base Year
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2022
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Historic Data
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2018 –
2021
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Estimated Year
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2023
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Forecast Period
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2024
– 2028
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Quantitative Units
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Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028
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Report coverage
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Revenue
forecast, company share, growth factors, and trends
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Segments covered
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By Component
By Industry
By Vertical
By Region
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Regional scope
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Southern
Vietnam, Northern Vietnam, and Central Vietnam
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Key companies profiled
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Fuji CAC Joint Stock Company, Asean Trading And Engineering
Joint Stock Company, Haison Company Ltd, GNN Co., Ltd.( Vietnam), Dat
Technology Company Limited (DAT), Autotech Services & Technical Solutions
Jsc., Huynh Bang Company Ltd., Omega Automation Electric Co., Ltd, Siemens
Ltd. (Vietnam), Honeywell International
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Customization scope
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10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope.
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Pricing and purchase options
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Avail customized purchase options to meet your exact research
needs. Explore purchase options
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Delivery Format
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PDF and Excel
through Email (We can also provide the editable version of the report in
PPT/Word format on special request)
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Report Scope:
In this report, Vietnam
Industrial Automation Market has been segmented into following categories, in
addition to the industry trends which have also been detailed below:
- Vietnam
Industrial Automation Market, ByComponent
- Vietnam
Industrial Automation Market, By Industry
- Machine
Tool Industry
- Energy
Equipment/Mining/Utilities
- Electrical/Electronic
- Manufacturing
- Plastics/Rubber
Machinery
- Textile/Fabric/Coating
Machinery
- Packaging,
Machinery
- Food
& Beverage Machinery
- Industrial
Robotics
- Logistics
and Transportation
- Equipment
- Wood
Working Machinery
- Building
Materials Machinery & Fluid Machinery
- Others
- Industrial
Automation Market, By Vertical
- Machine
Tool Industry
- Automotive
& Transportation
- Fluid
Machinery
- Metals
- Plastics
- Paint
Industry
- Packaging
- Cement
- Steel
- Others
- Industrial
Automation Market, By Region:
o
Northern Vietnam
o
Southern Vietnam
o
Central Vietnam
Competitive Landscape
Company Profiles: Detailed
analysis of the major companies present in Vietnam Industrial Automation Market
Available Customizations:
With the given market data, Tech
Sci Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of
additional market players (up to five).
Vietnam Industrial Automation
Market is an upcoming report to be released soon. If you wish an
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