Dublin, Dec. 23, 2021 (GLOBE NEWSWIRE) -- The "Global Factory Automation and Industrial Controls Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021-2026)" report has been added to ResearchAndMarkets.com's offering.
The global factory automation and industrial control system market was valued at USD 194.67 billion in 2020, and it is expected to reach USD 339.56 billion by 2026, registering a CAGR of approximately 9% during the forecast period (2021-2026).
The recent COVID-19 outbreak has been causing significant disruption to the global economy and has drastically changed how many industries operate day-to-day. With work-from-home protocols implemented and shelter-in-place orders continue to propagate, allied market players evaluated and revised their preparedness and response strategies for cyber-incidents. This is particularly evident for players that have implemented industrial control systems (ICS) (DCS, SCADA, or PLS) to monitor and control critical equipment and processes.
Industry Highlights
The increasing adoption of smart systems, components, and smart machinery and equipment, for the improvement of processes through automation and self-optimization, has resulted in the development of smart factories for planning, supply chain logistics, and product development. Increasingly, various manufacturing industries are striving to become smart factories.
There has been an exponential rise in labor costs across various regions. In addition, the quality requirements are also getting more stringent. Against this backdrop, factory automation can cause a reduction in production, operation, and labor costs.
Moreover, automotive manufacturers across the globe understand that the next generation of robotics and automation technologies is a revolutionary opportunity to upgrade automotive manufacturing, in terms of the productivity, quality, safety, and cost metrics. In addition, increased year-on-year robotic automation expenditure is projected to have a positive impact on the demand for robot automation systems.
The integration of different industrial automation systems, such as SCADA, PLCs, and MES, on a single physical server, which can be easily accessed at different locations on the plant floor using virtual machines, has been adopted to reduce the overall cost for server, as well as to increase the flexibility in adopting industrial automation systems and software in the process and discrete industries.
The high costs of automated systems are associated with effective and robust hardware and efficient software. Automation equipment requires higher capital expenditure, to invest in automation technologies (an automated system can cost millions of dollars to design, fabricate, and install). They also require a higher level of maintenance and generally a lower degree of flexibility in terms of the possible products as compared to a manual system, these factors are expected to act as a restraint to the market growth.
Market Trends
- Utilities Expected to Register a Significant Growth
- China Expected to Hold a Major Share in Asia-Pacific
Competitive Landscape
The factory automation and industrial control systems market is highly competitive and consists of several major players. The market appears to be moderately fragmented. The major players with prominent shares in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market shares and profitability. The companies operating in the market are also acquiring start-ups working on factory automation and industrial control systems to strengthen their product capabilities.
- April 2021 - Google Cloud and Siemens collaborated to streamline production operations and boost shop floor efficiency. Siemens plans to integrate Google Cloud's top data cloud and artificial intelligence/machine learning (AI/ML) capabilities with its factory automation solutions to assist manufacturers in the manufacturing process.
- March 2021 - GE Digital unveiled enhancements to its CIMPLICITY and Tracker software that provide critical decision support for operators to make them more efficient. A high-performance automation platform, CIMPLICITY HMI/SCADA provides client-server visualization to precisely monitor and control operations.
- January 2021 - OMRON Corporation launched their i4 series SCARA robot. It features 15 kg payload capacity, LED lights, and EtherCAT communication, and it can automate assembly and transportation.
Key Topics Covered
1 INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET INSIGHTS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Forces Analysis
4.3 Industry Value Chain Analysis
4.4 An Assessment of Impact of COVID-19 on the Industry
5 MARKET DYNAMICS
5.1 Market Drivers
5.1.1 Growing Emphasis on Energy Efficiency and Cost Reduction
5.2 Market Challenges
5.2.1 Trade Tensions and Implementation Challenges
6 INDUSTRY STANDARDS AND REGULATIONS
7 MARKET SEGMENTATION
7.1 By Product
7.1.1 By Industrial Control Systems
7.1.1.1 Distributed Control System (DCS)
7.1.1.2 Programmable Logic Controller (PLC)
7.1.1.3 Supervisory Control and Data Acquisition (SCADA)
7.1.1.4 Product Lifecycle Management (PLM)
7.1.1.5 Human Machine Interface (HMI)
7.1.1.6 Manufacturing Execution System (MES)
7.1.1.7 Enterprise Resource Planning (ERP)
7.1.1.8 Other Industrial Control Systems
7.1.2 Field Devices
7.1.2.1 Machine Vision Systems
7.1.2.2 Robotics (Industrial)
7.1.2.3 Sensors and Transmitters
7.1.2.4 Motors and Drives
7.1.2.5 Other Field Devices
7.2 By End-user Industry
7.2.1 Automotive
7.2.2 Chemical and Petrochemical
7.2.3 Utility
7.2.4 Pharmaceutical
7.2.5 Food and Beverage
7.2.6 Oil and Gas
7.2.7 Other End-user Industries
7.3 Geography
7.3.1 North America
7.3.2 Europe
7.3.3 Asia Pacific
7.3.4 Latin America
7.3.5 Middle East & Africa
8 COMPETITIVE LANDSCAPE
8.1 Company Profiles
8.1.1 Schneider Electric SE
8.1.2 Rockwell Automation Inc.
8.1.3 Honeywell International Inc.
8.1.4 Emerson Electric Company
8.1.5 ABB Limited
8.1.6 Mitsubishi Electric Corporation
8.1.7 Siemens AG
8.1.8 Omron Corporation
8.1.9 Yokogawa Electric Corporation
8.1.10 General Electric Co.
8.1.11 Texas Instruments Inc.
8.1.12 Robert Bosch GmbH
9 INVESTMENT ANALYSIS
10 FUTURE OUTLOOK OF THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/6pn61j
