Factory Automation Market By Component (Sensors, Controllers, Switches and Relays, Industrial Robots, Drives, Others), By Control and Safety System (Distributed Control System (DCS), Supervisory Control and Data Acquisition System (SCADA), Manufacturing Execution System (MES), Systems Instrumented System (SIS), Programmable Logic Controller (PLC), Human Machine Interface (HMI)), By Industry Verticals (Automotive Manufacturing, Food and Beverage, Oil and Gas Processing, Mining, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031
The global factory automation market was valued at $242.5 billion in 2021, and is projected to reach $558.8 billion by 2031, registering a CAGR of 8.67% from 2022 to 2031.
The use of technology and systems to automate a manufacturing process is known as factory automation, with the ultimate objective being to boost output and cut costs. The degree of automation can range from partial automation of a specific task to complete automation with no human involvement. Any stage of the manufacturing process, including material quantity management, production & assembly, and finally packaging & shipping, can be automated in a factory. The benefits of factory automation are improved productivity, improved quality, improved consistency, reduced waste, cost saving, and safe working conditions.
Owing to the rising demand for automation for high-quality and dependable production, the factory automation market is anticipated to expand significantly over the course of the projected period. In addition, industry participants are concentrating on enhancing the manufacturing process efficiency to achieve low-cost and high-quality production outputs, which significantly fuel the factory automation market. The future of manufacturing industries is expected to be shaped by the increased use of industry 4.0 revolutions, which will standardize the procedures. One of the main constraints limiting the growth of the factory automation market is the lack of professionals, lack of security awareness, and high implementation costs for factory automation systems. The rise in automation demand in Asian nations such as China and Japan is anticipated to offer a lucrative opportunity during the forecast period.
The factory automation market is segmented on the basis of components, control & safety systems, industry verticals, and region. On the basis of components, the market is divided into sensors, controllers, switches and relays, industrial robots, drives, and others. By control & safety systems, the market is segmented into Distributed Control System(DCS), Supervisory Control and Data Acquisition System (SCADA), Manufacturing Execution System (MES), Systems Instrumented Systems (SIS), Programmable Logic Controller (PLC), and Human Machine Interface (HMI). On the basis of industry vertical, the market is divided into automotive manufacturing, food & beverage, oil & gas processing, mining, and others.
The key players that operate in the market include ABB Ltd, Danaher Industrial Ltd, Emerson Electric Co., General Electric, Honeywell International Inc., Mitsubishi, Electric Corporation, OMRON Corporation, Rockwell Automation Inc., Schneider Electric, Siemens AG, Yokogawa Electric Corporation.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the factory automation market analysis from 2021 to 2031 to identify the prevailing factory automation market opportunities.
Market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights buyers' and suppliers' potency to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
An in-depth analysis of the factory automation market segmentation assists in determining the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes an analysis of regional and global factory automation market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Industry Verticals
Automotive Manufacturing
Food and Beverage
Oil and Gas Processing
Mining
Others
By Component
Sensors
Controllers
Switches and Relays
Industrial Robots
Drives
Others
By Control and Safety System
Distributed Control System (DCS)
Supervisory Control and Data Acquisition System (SCADA)
Manufacturing Execution System (MES)
Systems Instrumented System (SIS)
Programmable Logic Controller (PLC)
Human Machine Interface (HMI)
By Region
North America
U.S.
Canada
Mexico
Europe
Germany
UK
Italy
France
Rest of Europe
Asia-Pacific
China
Japan
India
South Korea
Rest of Asia-Pacific
LAMEA
Latin America
Middle East
Africa
Key Market Players
Schneider Electric
Danaher
OMRON Corporation
Siemens AG
General Electric
Mitsubishi Electric Corporation
Honeywell International Inc.
Rockwell Automation Inc.
Emerson Electric Co.
ABB Ltd
Yokogawa Electric Corporation
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