Factory Automation Market Size, Share, and Analysis, By Components (Sensors, Controllers, Switches & Relays, Industrial Robots, and Others), By Control and Safety Systems (Distributed Control System (DCS), Supervisory Control and Data Acquisition System (

Factory Automation Market Size, Share, and Analysis, By Components (Sensors, Controllers, Switches & Relays, Industrial Robots, and Others), By Control and Safety Systems (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)), By Industry (Automotive Manufacturing, Food & Beverage, Oil & Gas Processing, Mining, and Others) and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2024-2034

Factory Automation Market Size, Share, and Analysis, By Components (Sensors, Controllers, Switches & Relays, Industrial Robots, and Others), By Control and Safety Systems (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)), By Industry (Automotive Manufacturing, Food & Beverage, Oil & Gas Processing, Mining, and Others) and By Region (North America, Europe, Asia-Pacific, And Rest of the World) And Regional Forecast 2024-2034

PRODUCT OVERVIEW

Factory Automation Market is anticipated to grow at a CAGR of 8.4% in the forecast period (2024-2034), with the market size valued at USD 314.2 billion in 2023 and projected to reach USD 761.7 billion by 2034.

Factory automation means the utilization of control systems and technology to streamline and improve industrial processes, therefore reducing the need for human workforce. It covers a wide range of automation technologies, including robots’ programmable logic controllers (PLCs), and computer numerical control (CNC) systems. Businesses that utilize factory automation can increase productivity, improve product quality, and save operational expenses. Automation systems enable tasks to be performed with better precision, consistency, and speed compared to manual labour, resulting in higher efficiency and output. Automation helps in providing better analysis and allowing for real-time monitoring with decision-making to improve production processes. Overall, factory automation has played an important role in modern production, allowing companies to fulfil the increased demands for efficiency, flexibility, and competitiveness.

MARKET HIGHLIGHTS

Factory Automation Market is anticipated to reach USD 761.7 billion, growing at a CAGR of 8.4% during the forecast period due to the increasing demand for enhanced productivity and efficiency across industries promoting the adoption of automation technologies to streamline processes and minimize any form of human error. The ongoing trend of cost reduction and resource optimization motivates organizations to invest in automation solutions. In addition, the necessity for flexibility and adaptability in manufacturing to satisfy changing consumer needs accelerates automation adoption even faster. In future, the factory automation is expected to be to be defined by continued innovation, better integration of automation technologies, and expanded applications across several industries, resulting in sustained market development.

Factory Automation Market Segments:

• By Component
• Sensors
• Controllers
• Switches & Relays
• Industrial Robots
• Others
• By Control and Safety System
• Distributed Control System (DCS)
• Supervisory Control and Data Acquisition System (SCADA)
• Manufacturing Execution System (MES)
• Systems Instrumented Systems (SIS)
• Programmable Logic Controller (PLC)
• Human Machine Interface (HMI)
• By Industry
• Automotive Manufacturing
• Food & Beverage
• Oil & Gas Processing
• Mining
• Others

MARKET DYNAMICS

Growth Drivers

Increasing Demand for Efficiency and Productivity has impelled market growth

Rising Labour Costs Has Accelerated the Adoption of Factory Automation Devices

Restraint

Complexity of Integration of Automated Systems acts as a major challenge for the market

Key Players

• ABB Ltd.
• Honeywell International Inc.
• Schneider Electric SE
• Siemens AG
• Rockwell Automation, Inc.
• General Electric Company
• Mitsubishi Electric Corporation
• Emerson Electric Co.
• Omron Corporation
• Fanuc Corporation
• Yokogawa Electric Corporation
• Bosch Rexroth AG
• Keyence Corporation
• Toshiba Machine Co., Ltd.
• Yaskawa Electric Corporation
• Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Global Laboratory Temperature Control Units Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAG.R – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA

Reasons to Purchase this Report

• Qualitative and quantitative analysis of the market based on segmentation involving both economic as well as non-economic factors
• Provision of market value (USD Billion) data for each segment and sub-segment
• Indicates the region and segment that is expected to witness the fastest growth as well as to dominate the market
• Analysis by geography highlighting the consumption of the product/service in the region as well as indicating the factors that are affecting the market within each region
• Competitive landscape which incorporates the market ranking of the major players, along with new service/product launches, partnerships, business expansions, and acquisitions in the past five years of companies profiled
• Extensive company profiles comprising of company overview, company insights, product benchmarking, and SWOT analysis for the major market players
• The current as well as the future market outlook of the industry with respect to recent developments which involve growth opportunities and drivers as well as challenges and restraints of both emerging as well as developed regions
• Includes in-depth analysis of the market of various perspectives through Porter’s five forces analysis
• Provides insight into the market through Value Chain
• Market dynamics scenario, along with growth opportunities of the market in the years to come
• 3-month post-sales analyst support.

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