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Internet of Things Grows Panel Builders Market 2016
A new report on the 2016 panel builders market from MTW Research indicates that panel building is set for a boost from rapid growth from 6.2 billion Internet of Things (IoT) devices, with connectivity and automation driving demand in 2016.
By: Panel Builders Market from MTW Research
Discussing the report’s findings, MTW’s director Mark Waddy commented, “The Internet of Things market is now significantly influencing the panel builders market in 2016, with component manufacturers identifying IoT as offering significant growth opportunities. How the PLC market dealt with security threats from the Stuxnet virus, which has the potential to gain control over equipment in the physical world for the first time ever, illustrates how IoT is changing the panel builders market forever.”
The drives, control and switchgear market is set for buoyant growth according to MTW, with sales outperforming most industry expectations. The 220 page report suggests that most motor driven systems in operation still don’t have an adequate form of control to facilitate switching off or being turned down when possible. This is underpinning healthy opportunities for panel builders to provide enhanced automation, reducing clients’ TCO, enhancing efficiencies, reducing maintenance downtime and ultimately offering a better level of service.
Profitability in the panel builders market is strengthening from the rising number of ‘quick wins’ and opportunities identified in the report, with 2016 margins rising by 6%. MTW forecast that by 2020, panel builders’ profitability will rise by more than 20%, suggesting that the panel builders market continues to outperform the overall UK economy.
The HMI market (human machine interface) also represents a key growth market in 2016 according to the report, with sales rising by 22% in the last 5 years. MTW identifies a number of developments in the HMI market offering growth opportunities in 2016 with niche applications, increased flexibility, reduced commissioning time and enhanced monitoring and control some of the issues explored in the report.
The report also points to interesting developments in the PLCs market, as well as reviewing trends in sensors, inverters CPUs and the opportunities for growth these components are presenting in 2016. Fundamental shifts in this sector such as changes in Moore’s law, enhanced security requirements and protecting data communication amongst others are identified by MTW as influencing market demand for these products, with the sector exhibiting more than 11% growth over the review period.
The report also ranks the leading 120 panel builders in the UK by turnover, profit and assets, pointing to some interesting findings in terms of systems integrators gaining further share on the traditional panel builders domain. With construction and refurbishment activity rising further in 2016, it is clear that there are a large number of opportunities for panel builders and component suppliers to explore in order to grow sales. The report and database is available now from MTW Research’s website www.marketresearchreports.co.uk from £595 or by calling 08456 524324.
Panel Builders Market Report 2016 by MTW Research