Industrial Control & Factory Automation Market Overviews
Industrial Control & Factory Automation Market size was valued at US$ 155.81 Bn. in 2023 and the total revenue is expected to grow at a CAGR of 8.2% through 2024 to 2030, reaching nearly US$ 270.52 Bn.
Industrial control systems refer to a group of control systems and related instrumentation that include devices, systems, networks, and controls used to run or automate industrial processes. Factory automation and industrial control, which provides smart manufacturing infrastructure, is a growing trend in the manufacturing business. Industrial control and industrial automation improve cost effectiveness, product quality, manufacturing standardisation, reliability, and flexibility in the manufacturing process. For the information technology sector, industrial control and factory automation provide the ideal blend of mechanical components and devices. Industrial Control & Factory Automation Market report is come up with the segment analysis, based on component, solution, industry and region.
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Industrial Control & Factory Automation Market Scope and Methodology:
The rise of the linked enterprise idea is driving the global Industrial Control & Factory Automation Market forward. An efficient exchange of information between different units in an industry is crucial to improving production. With the use of IoT and IP networks, it allows manufacturers to better comprehend the process of converting raw materials into completed commodities. Track field instruments with IoT-enabled systems, ensure appropriate raw material flow, keep track of inventory status, and report items as they move through supply chains. Connected businesses also have simple access to information flowing throughout the supply chain, allowing them to respond quickly to changing market conditions. Real-time data supports manufacturers in lowering inventory costs, detecting cyber-threat issues, and attaining output in accordance with market demands.
Industrial Control & Factory Automation Market Regional Insights
Asia Pacific region is expected to dominate the Industrial Control & Factory Automation market during the forecast period 2024-2030. Asia Pacific region is expected to hold the largest market share of xx% by 2027. China has dominated the industrial robot market, paving the way for factory automation in the region and making it one of the most productive manufacturing countries in the Asia-Pacific region and the world. Factory automation at scale is made possible by a rise in the introduction of industrial robots into the country and the use of various Industrial Control System software across the country.
Industrial Control & Factory AutomationMarket Segmentation
Based on the Component, the market is segmented into Industrial Sensors, Industrial Robots, Industrial 3D Printers, Machine Vision Systems, Process Analyzers, Field Instruments, Human-Machine Interface, Industrial PC, and Vibration Monitoring. Industrial 3D Printers segment is expected to hold the largest market shares of xx% by 2030. 3D printing technology is rapidly evolving, and there is a demand for it to be bigger, faster, and cheaper. These gains will increase as more businesses migrate to 3D printing. 3D printing, also known as additive manufacturing, has the potential to empower the creation of a wide range of items, including food, medical supplies, and even large coral reefs. 3D printing equipment may one day be seen in homes, businesses, disaster zones, and perhaps outer space. The United States now has the world’s largest 3D printer installed base, with the US segment leading the industry and accounting for more than 35% of global additive manufacturing revenue in 2020. These are the factors that are expected to drives the growth of this segment in the Industrial Control & Factory Automation market during the forecast period 2024-2030
Industrial Control & Factory Automation Market Key Players
Endress+Hauser AG (Switzerland)
Emerson Electric Co. (US)
General Electric (US)
Rockwell Automation, Inc. (US)
Schneider Electric SE (France)
Siemens AG (Germany)
Mitsubishi Electric Corp. (Japan)
Honeywell International Inc. (US)
Yokogawa Electric Corp. (Japan)
Titan Engineering and Automation Limited (India)
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Key questions answered in the Industrial Control & Factory Automation Market are:
- What is Industrial Control & Factory Automation ?
- What was the Industrial Control & Factory Automation market size in 2023?
- What is the growth rate of the Industrial Control & Factory Automation Market?
- Which are the factors expected to drive the Industrial Control & Factory Automation market growth?
- What are the different segments of the Industrial Control & Factory Automation Market?
- What growth strategies are the players considering to increase their presence in Industrial Control & Factory Automation ?
- What are the upcoming industry applications and trends for the Industrial Control & Factory Automation Market?
- What are the recent industry trends that can be implemented to generate additional revenue streams for the Industrial Control & Factory Automation Market?
- Who are the leading companies and what are their portfolios in Industrial Control & Factory Automation Market?
- What segments are covered in the Industrial Control & Factory Automation Market?
- Who are the key players in the Industrial Control & Factory Automation market?
Key Offerings:
- Past Market Size and Competitive Landscape (2018 to 2022)
- Past Pricing and price curve by region (2018 to 2022)
- Market Size, Share, Size & Forecast by Different Segment | 2024−2030
- Market Dynamics – Growth Drivers, Restraints, Opportunities, and Key Trends by Region
- Market Segmentation – A detailed analysis by segment with their sub-segments and Region
- Competitive Landscape – Profiles of selected key players by region from a strategic perspective
- Competitive landscape – Market Leaders, Market Followers, Regional player
- Competitive benchmarking of key players by region
- PESTLE Analysis
- PORTER’s analysis
- Value chain and supply chain analysis
- Legal Aspects of Business by Region
- Lucrative business opportunities with SWOT analysis
- Recommendations
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