Industrial Controls and Factory Automation

Industrial Controls and Factory Automation

Global Industrial Controls and Factory Automation Market to Reach US$308.9 Billion by 2030

The global market for Industrial Controls and Factory Automation estimated at US$194.3 Billion in the year 2023, is expected to reach US$308.9 Billion by 2030, growing at a CAGR of 6.9% over the analysis period 2023-2030. Industrial Sensors, one of the segments analyzed in the report, is expected to record a 7.5% CAGR and reach US$82.7 Billion by the end of the analysis period. Growth in the Industrial Robots segment is estimated at 7.0% CAGR over the analysis period.

The U.S. Market is Estimated at US$53.3 Billion While China is Forecast to Grow at 6.3% CAGR

The Industrial Controls and Factory Automation market in the U.S. is estimated at US$53.3 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$47.6 Billion by the year 2030 trailing a CAGR of 6.3% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 6.5% and 5.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 5.5% CAGR.

Global Industrial Controls and Factory Automation Market - Key Trends & Drivers Summarized

What Is Driving the Adoption of Automation in Industries?

The drive towards greater efficiency, productivity, and reduced human error is propelling the adoption of industrial controls and factory automation. As industries face increasing competitive pressures, the need to optimize production processes and reduce operational costs becomes paramount. Automation technologies, including robotics, control systems, and assembly solutions, enable industries to meet these challenges by enhancing the speed and precision of manufacturing processes. Additionally, the integration of IoT and smart technologies allows for real-time monitoring and adjustment of operations, further optimizing performance and minimizing downtime.

How Are Technological Innovations Shaping the Market?

Technological innovations are at the heart of the transformation in industrial controls and factory automation. Developments in AI, machine learning, and robotics are enabling more complex and intelligent automation solutions that can adapt and learn from their operating environments. These technologies allow for greater flexibility and scalability in manufacturing processes, adapting to different production needs without significant reconfiguration. Moreover, advancements in communication technologies, such as 5G, enhance the connectivity of automation systems, facilitating faster and more reliable data transfer that is critical for the efficient operation of smart factories.

What Impact Do Global Supply Chains Have on Automation?

Global supply chains play a crucial role in the spread of industrial controls and factory automation. As companies seek to streamline operations and enhance efficiency across multiple locations, automation becomes a key strategy. The ability to standardize production processes globally while maintaining flexibility to adapt to local market conditions is facilitated by advanced control and automation systems. Furthermore, disruptions in supply chains, as evidenced during events like the COVID-19 pandemic, highlight the need for more resilient and adaptable manufacturing systems that automation can provide.

What Are the Key Drivers of Growth in the Industrial Controls and Factory Automation Market?

The growth in the industrial controls and factory automation market is driven by several factors. The need for enhanced productivity and efficiency in manufacturing processes is a primary driver, pushing companies to invest in automation technologies. Technological advancements that improve the functionality and integration of automation systems are also critical, as they enhance the capabilities of industrial facilities. The increasing focus on data-driven manufacturing and the integration of IoT devices propel the demand for sophisticated control systems that can manage and analyze large volumes of data to optimize operations. Additionally, the growing trend towards smart factories and Industry 4.0 concepts, which emphasize connectivity and automation, fuels the expansion of this market. These factors, combined with the global push for manufacturing resilience and supply chain stability, ensure the continued growth and evolution of industrial controls and factory automation systems.

Select Competitors (Total 17 Featured) -

• 3D Systems, Inc.
• ABB Group
• Azbil Corporation
• Chaos Prime
• Danfoss A/S
• Dwyer Instruments, Inc.
• Emersion Electric Co.
• Endress+Hauser AG
• FANUC Corporation
• Fuji Electric Co., Ltd.
• General Electric Company
• Hewlett Packard Enterprise Development LP (HPE)
• Hitachi Ltd.
• Honeywell International, Inc.
• KROHNE Messtechnik GmbH
• Mitsubishi Electric Corporation
• OMRON Corporation (Industrial Automation)
• PINpoint Information Systems, Inc.
• Progea Srl
• Rockwell Automation, Inc.
• Schneider Electric SA
• Siemens AG
• Stratasys Inc.
• Tegan Innovations Ltd.
• Vega Grieshaber KG
• WIKA Alexander Wiegand SE & Co. KG
• WIN-911 Software Ltd.
• Yokogawa Electric Corporation

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