Factory Automation Market size was valued at US$ 195 Billion in 2020 and the total Factory Automation revenue is expected to grow at 8.8% through 2021 to 2027, reaching nearly US$ 351.9 Billion.
In this report, the factory automation market’s growth reasons, as well as the market’s many segments, are discussed. Data has been given by market participants, regions, and specific requirements. This market-ready study proposal includes a comprehensive overview of all the significant improvements that are presently prevailing in all market segments. Key data analysis is presented in the form of statistics, infographics, and presentations. The study discusses the factory automation market’s Drivers, Restraints, Opportunities, and Challenges. The report helps to assess the market growth drivers and determines how to use these drivers as a tool. The report also helps to rectify and resolve issues related to the factory automation market condition.
Factory Automation Market Overview:
The Maximize Market research report gives you a complete report of the global Factory Automation Market. The study focuses on developing Market trends and important growth factors to assist Market participants in identifying opportunities in the Factory Automation Market. The research provides a comprehensive overview of the Market, as well as Market financials such as Market size from 2015 to 2020, with 2020 as the base year and forecast years 2021-2027. The breadth and segments of the global Factory Automation Market are covered in the Maximize Market Research report, which categorises it by product type, application areas, and geographies. The Market segmentation prioritises specific Markets and prospects over individual segments. North America, Europe, APAC, South America, and MEA are the major regions of the world included in the report. This provides a revenue forecast for each region from 2021 to 2027.
COVID-19 Impact on Global Factory Automation Market:
Different racial and ethnic groups reacted differently to the COVID-19 dislike. Inequities in the social determinants of health, such as income and wealth, access to and use of health care, education, occupation, discrimination, and housing, are all linked. Economic headwinds will come from a variety of directions for emerging Market and developing nations. Even this grim prognosis is fraught with uncertainty and huge dangers to the negative. The pace with which the crisis has engulfed the global economy may provide insight into the depth of the recession. Our highly skilled and team is always innovating and delivering innovative solutions to our clients, all while utilising the most cutting-edge technologies.
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The key manufacturers in the Factory Automation Market
• Danaher Corp
• ABB Ltd.
• Emerson Electric Company
• GE Company
• Honeywell International Incorporation
• Mitsubishi Electric Factory Automation
• Omron Corporation
• Rockwell Automation, Inc.
• Schneider Electric SA
• Siemens AG
• Yokogawa Electric Corporation
• Kuka AG
• Keyence Corporation
• Fanuc Corporation
This Maximize Market research report shows the possible economic benefits of investing in the Factory Automation Market to provide a greater understanding of the industry. Not only does the research provide a bright view for the Market, but it also analyses the drawbacks and risks that may arise for investment or competitiveness as a result of the emergence of some unfavourable aspects. The study’s research analysts and industry speakers share their forecasts of the Factory Automation industry. The goal of this Maximize Market Research report is to compile the opinions and recommendations of the industry leaders who were contacted throughout the research.
Global Factory Automation Market Regional Analysis Includes:
- Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)
- Europe (Turkey, Germany, Russia UK, Italy, France, etc.)
- North America (the United States, Mexico, and Canada.)
- South America (Brazil etc.)
- The Middle East and Africa (GCC Countries and Egypt.)
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The overall purpose of the Maximize Market research report is to determine Market priorities and bottlenecks. The paper also offers advice on how to best handle the risks posed by new and disruptive technologies. Most importantly, referring to this report assists Market participants in staying informed of changing Market dangers and providing the best advice possible to Market participants, as well as the introduction or amendment of regulatory processes. This Maximize Market Research report study contains results and suggestions tailored to all Market players, investors, stakeholders, and other participants in the global Factory Automation Market. This Maximize Market research report will serve as a valuable resource for those looking to acquire a competitive advantage in the Market.
Segmentation:
By Component, the hardware segment dominated the factory automation market in the year 2020. The software segment is projected to witness the highest growth in the forecast period (2021-2027). This can be attributed to the availability and demand for different automation software like HMI (Human-Machine Interface), Manufacturing Operations Management (MOM), and different data acquisition software like SCADA. On the other hand, the hardware segment is projected to witness growth due to the huge demand for industrial robots in the same forecast period.
Factory Automation MarketBy Control System, the PLC and sensors are projected to grow at a CAGR of 8.7% and 7.5% in the forecast period (2021-2027). The growth of sensors as a segment is attributed to their mounting or calibration flexibility as well as their efficient metallic detection performance. Motion sensors and photoelectric sensors are projected to dominate the sensor segment in the year 2027. Servo drives are used in devices that need position control such as conveyor belts and robotics. Their varied applications across all levels of automation are projected to fuel their market growth in the same forecast period. Other segments include controls systems like HMI and motors. DC motors are used in automation applications that are responsible for the handling of heavy loads. E.g. material handling or conveyor belts for their higher initial torque levels. These unique properties of these motors are projected to drive the overall factory automation market in the aforementioned forecast period.
The study examines these categories in depth, as well as their Market financials, such as Market size from 2015 to 2020, with 2020 as the base year and forecast years 2021-2027.
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