Driven by Industry 4.0 and the quick transition of industries toward smart manufacturing have created enormous market prospects for the Global Industrial Automation and Control Systems Market which is forecasted to Cross ~US$ 450 Bn by 2028 says Ken Research Study.
Industrial
automation uses technology and control systems, such as computers and robots,
to complete activities that were previously completed manually. These solutions
reduce the need for operator engagement and supervision by automating
industrial equipment operations. Industrial automation control system solutions
require smart devices for data gathering as well as secure infrastructures to
enable communications and data transfers.
"Ken Research shares 3 key insights on this
high-opportunity market from its latest research study."
1. Growing Demand for Automation, And
Cutting-Edge, Integrated Technology Are Expected to Propel Market Growth
The
ongoing need to increase profitability drives manufacturers to seek
technologies that can increase productivity while requiring minimal resources.
Industrial automation in this situation acts as a driver for improved dependability
and efficiency and improves return on investment (ROI). Industrial automation
reduces production costs while raising output rate and quality through the use
of cutting-edge, integrated technology. It advances automation by replacing
human work with computer programming and automation tools, producing
a performance that is more efficient than manual operation.
According
to Ken Research estimates, the Global
Industrial Automation and Control Systems Market – valued at around ~US$ 150 billion
in 2017 and estimated to reach nearly ~US$ 250 billion by 2022 – is further
expected to grow to around ~US$ 450 billion opportunity by 2028.
2. The Demand for Automation and Industrial
Controls Is Anticipated to Grow Due to The Increasing Need for Increased
Productivity.
The
increasing use of automation in industries is the primary driver of market
growth for Industrial Automation and Control Systems. The market for industrial
controls and factory automation is expanding as a result of an increasing
demand to use higher technology equipment to achieve better results. Automation
results in higher-quality products that are produced more economically,
boosting the product's overall profitability margin. Energy can also be saved
through automation. Furthermore, the demand for high yield and production,
skills shortages, and increased emphasis on improving efficiency and accuracy
to attain high yield and productivity are some of the other factors driving the
growth of the factory automation & industrial controls market. The Asia
Pacific is the largest region, such systems are increasingly being adopted in
nations like India, Japan, China, and South Korea.
According
to the International Federation of Robotics (IFR), in 2022 reported that with
243,300 installations in 2021, an increase of 44% from the year prior, the
industrial robot’s market in China experienced significant growth.
3. The Market Growth Could Be Hindered by The
High Initial Cost of Setting Up Automation Control Units.
The
worldwide factory automation & industrial controls market may be
constrained by factors such as the high initial cost of installing factory
automation & industrial controls systems and a lack of understanding
regarding the quality of completed products produced employing automation. In
addition to this, the market may be constrained by the scarcity of qualified
individuals who can install automation and control processes.
Cost
estimates for each collaborative robot system might be between ~US$3,000
and ~US$100,000. Prices for an industrial robotic system vary from ~US$ 15,000
to ~US$ 150,000, making them much more expensive.
For More
Information, refer to below link:-
Industrial
Automation and Control Systems Outlook
Related Report
Contact Us:-
Ken
Research
Ankur
Gupta, Head Marketing & Communications
+91-9015378249
