The research report titled, “Industrial
Controls and Factory Automation Market , Industrial Controls and Factory
Automation , Industrial Controls and Factory Automation Market Share ,
Industrial Controls and Factory Automation Market Forecast” offers a descriptive analysis of the industrial
control and factory automation market on the grounds of solution, component,
industry, and geography. It well evaluates all the enabling technologies which
support the manufacturing industries in industrial control and factory
automation and accordingly provides detailed information with respect to the key
factors that stimulate the growth of industrial control and factory automation
market.
Automation aids
in reducing the costs, ensuring fast production, standardizing manufacturing,
ensuring product quality, minimizing waste, and supervising production, along
with offering reliant and flexible solutions in manufacturing plants. The global automation
market based on the product, is namely segregated as- Supervisory Control and
Data Acquisition (SCADA), Manufacturing Execution System (MES), Distributed
Control System (DCS), Programmable Logic Controller (PLC), Drives, Relays and
Sensors. All such devices are widely used by process industries and discrete industries
around the world.
The industrial
control and factory automation market across the globe majorly consists of
automation companies namely- Rockwell (US), General Electric (US), Yokogawa
(Japan), Omron (Japan), and Honeywell (US), which offer many solutions including
SCADA, DCS, and PLC and various components and technologies that supplement
automation processes. Apart from these companies, the key market players of
industrial control and factory automation global market include- Siemens
(Germany), ABB (Switzerland), Emerson (US), Mitsubishi (Japan), and Schneider
(France), Bosch Automation as well as associations such as IEEE Robotics and
Automation Society (RAS) and International Federation of Robotics (IFR).
The Global Industrial Controls and
Factory Automation Market had registered a
valuation of somewhere around USD 145.51 Billion in 2016 and it has been expected
to augment at a decent CAGR of around 7.4% by 2023 recording a valuation
approximately for USD 239.11 Billion. The market has witnessed a consistent
growth over the years. The developing demand of automation for streamlining of
processes via real time gathering and control in Chemical, Oil & gas, Water
treatment, Automotive industries has bolstered the market growth to a next
level.
The key demand driving
factors in the industry have been noticed as: the extensive use of developing
technologies in manufacturing; persistent innovation in industrial robotics
spurring its adoption in manufacturing; need for mass production and well
managed supply chain to cater to the growing population; and government
initiatives regarding adoption of industrial automation in various industries.
Industrial
Internet of Things (IIoT) is being used in manufacturing plants which is altogether
an amalgamation of machine learning, big data, sensor data, and
machine-to-machine (M2M) communication; generally used for better connectivity
with other connecting devices. Not only this, it also ensures predictive and
proactive maintenance, real-time monitoring, resource optimization, and remote
diagnosis. This support is anticipated to expand in the coming years due to
advancements in technology and emerging applications which will include electronic
power distribution systems, heating ventilation air conditioning (HVAC), and
human machine interface (HMI) wherein this IIoT is foreseen to prove itself as
much more beneficial for effective and efficient functioning of the industry.
Geographically, Europe and North
America are forecasted to account for the maximum share in this industry since
an increase in the focus towards renewable energy in European countries is
expected which will surely drive the demand for automation solutions over the years.
Moreover, there has been an amplifying demand for building smart factories in
manufacturing based countries like China and Germany which is further creating
an emerging ecosystem for automation of existing manufacturing facilities.
Thereby, the Asia Pacific region is also projected to evolve as a promising
market as a result of increasing industrialization and mushrooming awareness
for automation control with supportive government policies in countries like
China, Japan, and India.
In the coming years, the
Manufacturing Execution System of this industry is expected to acquire the
majority share because of its association with various tasks of production
management in a comprehensive software system. Even, industrial robots are
re-shaping manufacturing industries currently by reducing the manual labor and
these robots undoubtedly offer various benefits like accuracy, flexibility,
lower labor cost, high speed, less product damage, and quiet operation. Hence,
the advent of technological innovations coupled with rising demands for
efficient automated systems will trigger the industry to register massive
revenues in future and relish an overall success globally.
Key Topics
Covered In The Report:
Global Industrial Controls and Factory
Automation Market Research Report
Global Factory Automation and Industrial
Control Systems Industry Analysis
Global Industrial Controls and Factory
Automation Upcoming Techniques
Global Industrial Controls and Factory
Automation Market Size and Growth Trends
Global IoT Industrial Automation Services
Emerging Opportunities
Asia Pacific Industrial Controls and Factory
Automation Market Demand
Global Industrial Controls and Factory
Automation Market Competition Scenario
Global Industrial Controls and Factory
Automation Industry Future Outlook
Global Industrial Controls and Factory
Automation Market Segmentation
Global Industrial and Factory Automation
Process Controls Market Statistics
Global Industrial Control Devices Industry
Evolving Production Volume
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