The Industrial Control And Factory Automation Global Market Report 2023, provides comprehensive information on the industrial control and factory automation market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
Learn More On The Industrial Control And Factory Automation Market’s Growth:
As per The Business Research Company’s Industrial Control And Factory Automation Global Market Report 2023, the global industrial control & factory automation market size is expected to grow from $137.25 billion in 2022 to $149.17 billion in 2023 at a compound annual growth rate (CAGR) of 8.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the global industrial control & factory automation market is expected to grow to $203.66 billion in 2027 at a CAGR of 8.1%.
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Product innovation is a key trend gaining popularity in the industrial control and factory automation market. Major companies operating in the industrial control and factory automation market are introducing new innovative products to sustain their position in the market. For instance, in February 2021, Schneider Electric, France-based digital automation, and energy management company, launched the EcoStruxure Automation Expert industrial automation system. It is first of its kind software-based industrial automation system that allows the user to distribute applications to any system hardware and to build applications using asset-centric components. The system also allows enterprises to achieve maximum workforce optimization and efficiency.
The industrial control and factory automation market is segmented:
1) By Component: Industrial Robots, Machine Vision System, Process Analyser, Field Instruments, Human–Machine Interface (HMI), Industrial PC, Industrial Sensors, Industrial 3D Printing, Vibration Monitoring, Other Components
2) By Solution: Distributed Control System (DCS), Supervisory Control and Data Acquisition (SCADA), Programmable Logic Controller (PLC), Manufacturing Execution System (MES), Product Life Cycle Management (PLM), Plant Asset Management (PAM), Functional Safety
3) By Industry: Process Industry, Discrete Industry
Asia-Pacific was the largest region in the industrial control and factory automation market in 2022.
The table of contents in TBRC’s industrial control and factory automation market report includes:
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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