Rising implementation of industrial robots and increasing usage of enabling technologies in the manufacturing sector is anticipated to drive the industry control and factory automation market in the coming years. Significant capital investments for establishing an error-free automation system and industrial control is anticipated to pose a big challenge in the growth of the industry control and factory automation market. Further, demand for safety compliance solutions is expected to provide significant opportunities for the players operating in the industry control and factory automation market.
The industrial control and factory automation market has witnessed tremendous growth in the last few years owing to the significant advancements in the electronics and semiconductor industry. A complete set of technologies and control devices that enhance productivity, as well as the quality of products, comprised of the entire scope of industry control and factory automation. The advantage of automation is that it always aims to reduce the production costs for a company and thereby results in increased profitability margins. Further, automation also aims at reducing human intervention which eliminates losses due to human errors.
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The Emerging/Prominent key players include in this research are:
Ametek, Bosch Automation General Electric Co, Honeywell International, Mitsubishi Corporation, Omron Corporation, Rockwell Automation, Schneider Electric, Siemens AG, Yokogawa Electric Corporation.
Factory automation standardizes industrial processes and ensures consistent, superior-quality results; thus, it has high demand in industries for reliable, qualitative manufacturing. Moreover, it fulfils the demand of mass production in industries owing to its features such as minimal human intervention, improved quality, and lesser labor expenses, which culminate in minimum overall operational cost. The demand for factory automation has an additional boost due to the growing adoption of Industry 4.0 trend and IoT enabled smart technologies. However, the growth of factory automation is hindered due to high investment, limited availability of professionals, and inadequate awareness about security.
Industry Control and Factory Automation Market to 2027 - Global Analysis and Forecasts by Component (Industrial Robots, Machine Vision, Control Valves, Field Instruments, Human-Machine Interface, Industrial PC, Sensors, Industrial 3D printing); Application (Power, Automotive, Printing and packaging, Oil and Gas, Pharmaceuticals, Textile, Chemical, Plastics, Food processing, Original Equipment Manufacturers ) and Geography.
The report aims to provide an overview of the industry control and factory automation market with detailed market segmentation by component, application, and geography. The global industry control and factory automation market is expected to witness rapid growth during the forecast period. The report provides key statistics on the market status of the leading industry control and factory automation market players and offers key trends and opportunities in the market.
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global industry control and factory automation market based on various segments. It also provides market size and forecast estimates from the year 2018 to 2027 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The industry control and factory automation market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of eighteen countries globally along with the current trend and opportunities prevailing in the region.