New York, United States, Nov. 27, 2023 (GLOBE NEWSWIRE) -- The Global Industrial Control and factory Automation Market Size is to Grow from USD 198.13 Billion in 2022 to USD 481.8 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 9.2% during the projected period.
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The application of various automation systems, computer programs, and technologies to expedite the manufacturing process in various industries is referred to as industrial control and factory automation. This system is critical in a production plant for monitoring and regulating a wide range of machinery, procedures, and the surrounding environment. The ultimate goal of industrial control and factory automation is to improve manufacturing process effectiveness, precision, and productivity while eliminating human interference, lowering costs, and increasing safety. Industries are using industrial automation and control technologies to increase output while decreasing labor costs. Furthermore, since the introduction of Industry 4.0, the manufacturing industry has seen rapid adoption of emerging technologies and upgraded networking frameworks, which is expected to offer significant opportunities for industrial control and factory automation market expansion in the coming years. Moreover, technical improvements, increased economic and infrastructure possibilities, and rising productivity needs all have an impact on factory automation.
Browse key industry insights spread across 200 pages with 125 market data tables and figures & charts from the report on "Global Industrial Control & Factory Automation Market Size, Share, and COVID-19 Impact Analysis, By Component (Industrial PC, Industrial Sensors, Field Instruments, Vibration Monitoring, Industrial Robots, Machine Vision, Process Analyzer, Human Machine Interface, Industrial 3D Printing, Others), By Solution (SCADA, PLC, DCS, MEMS, Industrial Safety, PAM, Others), By Industry Vertical (Manufacturing, Mining & Metal, Oil & Gas, Transportation, Aerospace & Defense, Automotive, Chemical, Energy & Utilities, Food & Beverage, Healthcare, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022 – 2032."
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The industrial sensors segment is dominating the market with the largest revenue share over the forecast period.
On the basis of component, the global industrial control & factory automation market is segmented as industrial PC, industrial sensors, field instruments, vibration monitoring, industrial robots, machine vision, process analyzer, human machine interface, industrial 3D printing, and others. Among these, the industrial sensors segment is dominating the market with the largest revenue share of 38.6% over the forecast period. The growing popularity of the internet-connected sensors market, as well as the increased acceptance of the Industrial 4.0 paradigm and IIoT, are driving the continuous rise of the industrial sensors segment. Sensors are small and give quick and accurate measurements and assessments, which are essential in automated activities.
The DCS segment is expected to hold the largest share of the Global Industrial Control & Factory Automation Market during the forecast period.
Based on the solution, the global industrial control & factory automation market is classified into SCADA, PLC, DCS, MEMS, Industrial Safety, PAM, and others. Among these, the DCS segment is expected to hold the largest share of the industrial control & factory automation market during the forecast period. The fast industrialization of developing countries can be connected to the growth of this category. Several developing countries have policies in place to encourage power sector expansion and capacity expansion, which are expected to boost demand for DCS over the forecast period.
The manufacturing segment accounted for the largest revenue share of more than 31.4% over the forecast period.
On the basis of industry vertical, the global industrial control & factory automation market is segmented into manufacturing, mining & metal, oil & gas, transportation, aerospace & defense, automotive, chemical, energy & utilities, food & beverage, healthcare, and others. Among these, the manufacturing segment is dominating the market with the largest revenue share of 31.4% over the forecast period. This is driven by the continuing growth of automated approaches in manufacturing facilities and businesses that rely on automated processes and technologies.
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Asia Pacific dominates the market with the largest market share over the forecast period.
Asia Pacific is dominating the market with more than 43.7% market share over the forecast period. China's, Japan's, South Korea's, and India's thriving manufacturing industries have encouraged great advancement in the domains of industrial control and factory automation throughout the Asia Pacific. With its growing industrial sector and government efforts to increase automation, India is also contributing to the region's market development. On the other hand, North America is predicted to expand the fastest during the forecast period. The presence of big multinational organizations and technical corporations, as well as a strong industrial sector, drive the market in this region. The Europe market is predicted to develop at a significant CAGR during the forecast period, owing to its robust technical and manufacturing industries
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. The Major players in the global industrial control and factory automation market include Rockwell Automation, General Electric, Schneider Electric, Siemens, ABB, Emerson, Dwyer, Honeywell, Mitsubishi Electric, Yokogawa Electric Corporation, Endress+Hauser, OMRON Corporation, Kawasaki Heavy Industries, Ltd., 3D Systems, Wika, Fanuc, Stratasys And other key vendors.
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Recent Developments
On June 2023, Motion & Control Enterprises has announced the completion of its purchases of Power & Pumps Inc. and Industrial Control Services Inc. Industrial Control Services is a value-added distributor of specialty automation equipment like as robotics, motion control, machine vision, barcoding systems, controls and networking, and safety solutions situated in Zeeland, Michigan.
On February 2023, Schneider Electric, Capgemini, and Qualcomm Technologies, Inc. announced a groundbreaking partnership on a 5G-enabled automated hoisting system. The 5G Private Network solution, which replaces wired connections with wireless and unifies existing wireless connections from Schneider Electric's industrial automation system, demonstrates how it can simplify and optimize digital technology deployment at scale across industrial sites ranging from steel plants to ports.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2032. Spherical Insights has segmented the Global Industrial Control & Factory Automation Market based on the below-mentioned segments:
Industrial Control & Factory Automation Market, Component Analysis
- Industrial PC
- Industrial Sensors
- Field Instruments
- Vibration Monitoring
- Industrial Robots
- Machine Vision
- Process Analyzer
- Human Machine Interface
- Industrial 3D Printing
- Others
Industrial Control & Factory Automation Market, Solution Analysis
- SCADA
- PLC
- DCS
- MEMS
- Industrial Safety
- PAM
- Others
Industrial Control & Factory Automation Market, Industry Vertical Analysis
- Manufacturing
- Mining & Metal
- Oil & Gas
- Transportation
- Aerospace & Defense
- Automotive
- Chemical
- Energy & Utilities
- Food & Beverage
- Healthcare
- Others
Industrial Control & Factory Automation Market, Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of Middle East & Africa
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