Factory Automation Market: was valued at USD 292.35 Billion in 2022, and is expected to reach USD 531.00 Billion by 2029, exhibiting a CAGR of 8.9 % during the forecast period (2023-2029).
Factory Automation Market Overview:
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Factory Automation Market: A collection of technologies and automated control systems known as “factory automation” increase the output and calibre of goods produced while controlling industrial operations with less human intervention and better results than manual control. The study on the factory automation market examines several kinds of factory automation systems and how end-user industries employ them.
Segmentation:
by Control & Safety System
Distributed Control System (DCS)
Supervisory Control and Data Acquisition System (SCADA)
Manufacturing Execution System (MES)
Safety Instrumented System (SIS)
Programmable Logic Controller (PLC)
Human Machine Interface (HMI)
Supervisory control and data acquisition, or SCADA, dominated the factory automation market in 2022 and is predicted to increase at a CAGR of 9.1% over the course of the forecast year, according to Control & Safety Systems. An industrial process automation system called supervisory control and data acquisition (SCADA) is used to gather data from instruments and equipment at remote and plant locations. In addition to gathering and sending data, this system monitors and controls the inputs and outputs of processes.
Furthermore, it lowers operating and maintenance costs, which boosts productivity and profitability. Because of this, the need for SCADA systems is rising in a number of industries, including manufacturing, pipeline monitoring and control, water treatment facilities and distribution, and electrical power transmission and distribution. These factors are anticipated to fuel the market for SCADA systems.
by Component
Sensor
Controller
Switch & Relay
Industrial Robot
Drive
Others
Component predicts that Industrial Robots will lead the industrial automation market in 2022 and will expand at a compound annual growth rate (CAGR) of 6.4% over the course of the forecast period. The automotive and heavy engineering sectors are the main industries observing a need for industrial robots. Furthermore, there is a greater need for industrial robots due to the growing need for intelligent production in unconventional fields like microelectronics. The growing need for industrial robots to complete crucial tasks quickly and safely at work is mostly attributable to the heavy engineering sector.
The need for robots has also grown as a result of the manufacturing sector’s increased need for mass production, the removal of customs taxes, and the developing robotics and artificial intelligence (AI) industries. Additionally, the high cost of the product and deployment can impede the expansion of
by Industry Vertical
Automotive Manufacturing
Food & Beverage
Oil & Gas Processing
Mining
Others
Automotive Manufacturing dominated the factory automation market in 2022, according to Industry Vertical, and is predicted to rise at a CAGR of 9.5% over the course of the forecast period. The automobile industry is experiencing a surge in demand for automation to handle intricate and repetitive jobs. Automation can help complete these activities, producing dependable, economical, and successful outcomes. In addition, the need for mass production is rising in order to meet the growing population. In order to handle the escalating competitiveness and achieve safe, quick, and efficient production outcomes, the automotive and manufacturing sectors, among others, are concentrating on implementing smart manufacturing and logistics systems.
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Key Players:
The Market competitive landscape Factory Automation gives information by competitor. Business overview, financials, revenue produced, Market potential, investment in RD, new Market efforts, worldwide presence, production sites and facilities, production capacity, company strengths and weaknesses, product launch, product width and breadth, application domination are all mentioned. The data points presented above are only linked to the firms’ concentration on the Factory Automation sector. These are the main players-
1. ABB Ltd
2. Emerson Electric Company
3. GE Company
4. Honeywell International Incorporation
5. Mitsubishi Electric Factory Automation
6. Omron Corporation
7. Rockwell Automation, Inc.
8. Schneider Electric SA
9. Siemens AG
10.Yokogawa Electric corporation
11.Kuka AG
12.Keyence Corporation
13.Fanuc Corporation
14.Bosch Rexroth
15.Fuji Electric Co., Ltd.
16.Endress+Hauser
17.Hitachi Ltd.
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Regional Analysis:
The country portion of the Factory Automation Market study additionally includes individual Market affecting elements and changes in legislation in the Market that affect present and future Market trends. Consumption volumes, production sites and volumes, import export analysis, price trend analysis, raw material costs, and downstream and upstream value chain analysis are some of the primary indicators utilised to anticipate the Market situation for particular nations. While providing forecast analysis of the nation data, the existence and availability of global brands, as well as the obstacles they face due to significant or scarce competition from local and domestic brands, as well as the impact of domestic tariffs and trade routes, are also taken into account.
COVID-19 Impact Analysis on Factory Automation Market:
A detailed study of Covid-19 impacts the Factory Automation Market is provided in the report.
The World Health Organization has declared Covid-19 a global health emergency due to its impact on thousands of people worldwide. The Coronavirus disease, which already affects these groups, had affected Factory Automation Market segments.
Key Questions answered in the Factory Automation Market Report are:
- At what growth rate is the Factory Automation Market evolving?
- Who are the major Market giants operating in the global Factory Automation Market?
- Which application segment of the Factory Automation Market is observing the fastest growth?
- What is the primary driving factor of the global Factory Automation Market?
