Manufacturing and Construction Expansion Drives Growth in Vietnamese Automation and Control Systems Market


SOURCE: Frost & Sullivan or prnewswire.com

Increased collaboration will add value and growth opportunities, finds Frost & Sullivan’s Industrial Automation & Process Control team



SINGAPORE, July 20, 2017 /PRNewswire/ — Despite slowdowns in certain industries, Vietnam’s automation and control systems market is witnessing stable growth. Robust expansion in the manufacturing and construction sectors plus increased foreign direct investment (FDI), growing end-user need to optimize processes and improve efficiency, and development of special economic zones (SEZs) are factors fuelling growth. Nonetheless, barriers to market entry are high. To succeed in a fiercely competitive ecosystem, automation vendors must embrace new technologies, such as Internet of Things (IoT), collaborate with developers of machine-to-machine (M2M) technologies, and become one-stop integrated solution providers.

“The expansion of sectors such as power generation, food and beverage, and automotive is generating demand for new automation and control solutions, such as Industrial Internet of Things (IIoT) and smart sensors. However, with the proliferation of new solutions, the chances of a cyber-attack are high,” said Frost & Sullivan Industrial Automation & Process Control Consulting Analyst Tarun Roy. “As end users try to adopt IIoT-enabled solutions, it will be imperative for automation providers to collaborate or partner with cybersecurity firms to help their customers secure industrial networks from potential cyber threats.”

Growth Opportunities in Vietnam for Automation and Control System Manufacturers, part of Frost & Sullivan’s Industrial Automation & Process Control Growth Partnership Service program, finds that the total automation and control market in Vietnam will be worth US$184.5 million by 2021. The study provides an analysis of current and expected market developments, drivers, restraints, and revenue forecasts across segments.

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Strategic imperatives for success and growth in Vietnam’s automation and control systems market include:

Embracing change in both the short and long terms through new business models that offer scope for implementation of IIoT technologies;
Reforming business strategies and tailoring solutions that focus more on discrete manufacturing rather than providing process control;
Enabling optimum planning and utilization of resources through factory automation systems to help minimize waste and reduce capital and operating costs;
Developing an integrated product and solutions portfolio through acquisition of or partnership with select key players;
Considering enterprise-level device management solutions to collect and analyze sensor health for more reliable and efficient operations; and
Addressing the challenges of vulnerability management and increased attack surface in connected industrial environment using intelligent network zone segmentation.
“As end users increasingly look towards liaising with total solution and service providers, automation companies possessing main automation contractor (MAC) capabilities will be preferred and will potentially have a competitive edge over other vendors,” noted Roy.

Frost & Sullivan’s study covers automation market segments such as programmable logic controller (PLC), distributed control system (DCS), supervisory control and data acquisition (SCADA), human machine interface (HMI), and safety systems. The market share and competitive analysis of major suppliers, such as Siemens A.G., Yokogawa Electric Corporation, Rockwell Automation, Honeywell, ABB, and Mitsubishi Electric are also discussed.

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Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today’s market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community. Contact us: Start the discussion

Growth Opportunities in Vietnam for Automation and Control System Manufacturers
P95E-10

Contact:

Carrie Low
Corporate Communications – Asia-Pacific
P: +603 6204 5910
F: +603 6201 7402
E: carrie.low@frost.com

Melissa Tan
Corporate Communications – Asia-Pacific
P: +65 6890 0926
F: +65 6890 0999
E: melissa.tan@frost.com

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SOURCE Frost & Sullivan

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