Global Factory Automation Market, By Control Systems (Distributed Control Systems, Supervisory Control and Data Acquisition System, Manufacturing Execution System, Safety Instrumented System, Programmable Logic Controller, Human Machine Interface), Component (Sensors, Controller, Switches and Relays, Industrial Robots, Drives, Others), End- User (Automotive Manufacturing, Food and Beverage, Oil and Gas Processing, Mining, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2029
Market Analysis and Insights of Factory Automation Market
Factory automation market is expected to gain market growth in the forecast period of 2022 to 2029. Data Bridge Market Research analyses the market to rise up to the USD 1009725 million by 2029 and to grow at a CAGR of 9.60% in the above-mentioned forecast period.
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The factors such increasing adoption of industry 4.0 and rising demand for automation for qualitative and reliable manufacturing are expected to emerge as the significant factors accelerating the growth of factory automation market in the forecast period of 2022 to 2029. In addition to this, rising government initiatives to enhance the adoption of industrial automation, rising usage of enabling technologies in manufacturing and growing need for mass production with decreased operation cost will further aggravate the growth of the factory automation market in the above-mentioned forecast period. The government initiatives to advance industrial automation and the endorsement of new technologies such as the internet of things (IOT) and artificial intelligence (AI) in automation environments are estimated to boost the overall growth of the market within the forecasted period. However, the dearth of skilled and trained professionals along with the high investment cost of the factory automation systems are projected to result as a growth restraint for the market which will further hamper the market’s overall growth.
The advent of cloud systems, smart sensors and other advanced technologies are also anticipated to generate lucrative opportunities for the factory automation market in the forecast period of 2022 to 2029. On the slip side, the increasing awareness regarding security will pose as a challenge for the factory automation market.
This factory automation market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on Factory automation market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Factory Automation Market Scope and Market Size
The factory automation market is segmented on the basis of control systems, component, and end- user. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target market.
- On the basis of control systems, the factory automation market is segmented into distributed control systems, supervisory control and data acquisition system, manufacturing execution system, safety instrumented system, programmable logic controller and human machine interface.
- The component segment of the factory automation market is divided into sensors, controller, switches and relays, industrial robots, drives and others.
- The end- user segment of the factory automation market is divided into automotive manufacturing, food and beverage, oil and gas processing, mining and others.
Factory Automation Market Country Level Analysis
The factory automation market is analyzed and market size, volume information is provided by control systems, component, and end- user as referenced above.
The countries covered in the factory automation market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the factory automation market during the forecast period owing to the increasing number of factory automation companies in the region and rising industry 4.0 initiatives to enhance the manufacturing productivity in the forecast period of 2022 to 2029. Asia-Pacific, on the other hand, is expected to show a lucrative growth due to technological advancement, rising demand for automation and various other factors.
The country section of the factory automation market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Factory Automation Market Share Analysis
The factory automation market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to Factory automation market.
Some of the major players operating in the factory automation market report are ABB, Emerson Electric Co., Mitsubishi Electric Corporation, GENERAL ELECTRIC, Texas Instruments Incorporated, Honeywell International Inc., Rockwell Automation, Inc., OMRON Corporation, Rockwell Automation, Inc., Schneider Electric, Siemens, Yokogawa India Ltd., SD3D Printing., Dwyer Instruments, Ltd., WIKA Instruments India Pvt. Ltd., FANUC INDIA Private Limited.., Hitachi, Ltd., and VEGA India Level and Pressure Measurement Pvt. Ltd., among others.
Recent Developments
In April 2021, the Mitsubishi Electric Corporation released a seven new X-Series products, including two HVIGBTs and five HVDIODEs, for a total of 24 X-Series power semiconductor modules. These modules are intended for high-voltage, large-current equipment such as traction motors, DC-power transmitters, large industrial machines, and other high-voltage, small-size inverters.
In March 2021, the GE DIGITAL has launched enhancements to its CIMPLICITY and Tracker software, which give important decision support for operators and help them become more efficient. Client-server visualisation is provided by CIMPLICITY HMI/SCADA to precisely monitor and control activities. Tracker, part of GE Digital's Proficy Manufacturing Execution Systems (MES) product, automates routing and sequencing to decrease warranty and recall risk and promote lean operations.
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