Dublin, Feb. 07, 2025 (GLOBE NEWSWIRE) -- The "Industrial Control & Factory Automation - Market Dynamics & Company Insights, 2024" report has been added to ResearchAndMarkets.com's offering.
The industrial control and factory automation market is poised for substantial growth with its increasing integration into supply chain mechanics and manufacturing sectors.
This report delves into a comprehensive analysis covering market dynamics, including drivers, restraints, challenges, and opportunities. As the industrial world increasingly leans towards automation, key players and emerging startups are pivotal forces shaping its landscape. The competitive scenario is aided by advancements in IoT, AI, and deep learning, contributing to unprecedented operational efficiencies.
Market Dynamics: Drivers, Restraints, Challenges, and Opportunities
Driver: Increased Adoption of IoT and AI
One of the significant drivers is the booming adoption of IoT and AI across industrial environments. The integration of these technologies optimizes operations through real-time data analysis, enabling predictive maintenance and efficient resource management. This driver propels the alignment of automation with Industry 4.0 principles, fostering smarter and more responsive production environments.
Restraint: Significant Initial Capital Investments
A notable restraint faced by this market is the high initial capital required to set up automation solutions. While the long-term benefits are significant, the upfront costs and the need for ongoing maintenance can deter small and mid-scale manufacturers from quick adoption.
Challenge: Shortage of Skilled Workforce
The industrial control and automation landscape frequently encounters challenges, especially the shortage of a skilled workforce proficient in deploying and managing these advanced systems. This skill gap exists even as demand intensifies for specialists who can operate and maintain cutting-edge automation systems, posing an ongoing challenge to industry growth.
Opportunity: Growing Demand for Augmented Reality and Virtual Reality
The market's horizon is expanding with opportunities arising from augmented reality (AR) and virtual reality (VR) technologies. These tools enhance training protocols and maintenance, allowing operators to visualize complex processes or repairs in a virtual space, improving accuracy and reducing downtime.
Competitive Landscape and Company Profiles
Key Players and Startups
Major companies like ABB, Honeywell International Inc., Rockwell Automation Inc., Siemens AG, and Emerson Electric Co. anchor the competitive landscape. These established players continually innovate to maintain their competitive edge through product diversification and strategic expansions. On the startup front, companies like FANUC Corporation and Yaskawa Electric Corporation are noted for their agility and advanced robotic solutions.
Evaluation Matrix: Key Players and Startup/SME
The evaluation matrix categorizes the key players based on market performance and strategic capabilities. In 2023, companies were segmented into stars, emerging leaders, pervasive players, and participants.
Key Player Evaluation
Prominent players show a strong global footprint with diversified portfolios covering numerous regions and end-use applications. Their strategies include significant R&D investments, geographic expansion, and product diversification to build resilience and gain competitive traction.
Startup/SME Evaluation
Startups and SMEs are categorized as progressive, responsive, and dynamic companies. These firms focus on niche markets and emergent technologies, investing in innovation to carve out unique market segments amidst competition from well-established corporations.
Conclusion
The industrial control and factory automation market is set to experience dynamic growth, propelled by advancements in technology and increasing global demand for efficiency and precision. While challenges persist, the integration of emerging technologies and steady government support paints a promising future. Key corporations and innovative startups alike are likely to seize substantial revenue opportunities as they navigate this exciting arena.
Key Topics Covered
1 Executive Summary
2 Market Overview
2.1 Introduction
2.2 Market Dynamics
2.2.1 Drivers
2.2.1.1 Increased Adoption of IoT and AI in Industrial Environments
2.2.1.2 Government Initiatives to Promote Industrial Automation
2.2.1.3 Growing Focus on Operational Efficiency and Productivity
2.2.1.4 Growing Demand for Smart Sensors in Various Industries to Gain Real-Time Insights
2.2.1.5 Increasing Integration of Machine Vision Systems with Deep Learning
2.2.2 Restraints
2.2.2.1 Significant Initial Capital Investment and Subsequent Maintenance Expenses
2.2.2.2 Lack of Quick Adaptability to Changing Scenario and Intuitive Decision-Making
2.2.2.3 Security Risks Associated with Cyber-Physical Systems
2.2.3 Opportunities
2.2.3.1 Increased Demand for Safety Compliance Automation Solutions
2.2.3.2 Rising Adoption of Automation in Industrial Sector
2.2.3.3 Growing Demand for Augmented Reality and Virtual Reality Technologies
2.2.4 Challenges
2.2.4.1 Absence of Standardization in Industrial Communication Protocols and Interfaces
2.2.4.2 Shortage of Skilled Workforce to Operate Industrial Automation Equipment and Systems
2.2.4.3 Lack of Precision due to Differences Between Simulations and Real-Life
2.2.4.4 Complexity in Deployment of Industrial Control & Factory Automation Solutions
2.3 Value Chain Analysis
2.4 Ecosystem Analysis
2.5 Investment and Funding Scenario
2.6 Pricing Analysis
2.6.1 Indicative Pricing of Key Players, by Robot Type
2.6.2 Average Selling Price Trend, by Type
2.6.3 Average Selling Price Trend, by Region
2.6.4 Average Selling Price Trend of Industrial Sensors
2.6.5 Average Selling Prices of Process Analyzer, by Type
2.7 Trends/Disruptions Impacting Customer Business
2.8 Porter's Five Forces Analysis
2.8.1 Threat of New Entrants
2.8.2 Threat of Substitutes
2.8.3 Bargaining Power of Suppliers
2.8.4 Bargaining Power of Buyers
2.8.5 Intensity of Competitive Rivalry
2.9 Key Stakeholders & Buying Criteria
2.9.1 Key Stakeholders in Buying Process
2.9.2 Buying Criteria
2.10 Case Study
2.10.1 World Wide Fittings, Inc. Adopts Mitsubishi Electric's Industrial Robotics to Streamline Operations
2.10.2 Bombardier Transportation Selects ABB to Provide Scada System for Bangkok's Monorail Project
2.10.3 Cooper Tire Adopts Rockwell Automation's Mes Solution for Greater Efficiency
2.10.4 Enel Green Power S.P.A. Implements ABB Ability for Predictive Maintenance in Hydropower Plants
2.10.5 China National Building Material Group Corporation Enhances Energy Efficiency with Schneider Electric's Ecostruxure
2.10.6 Arkema Group Upgrades Systems with ABB's System 800Xa Architecture
2.11 Technology Analysis
2.11.1 Key Technologies
2.11.1.1 Artificial Intelligence
2.11.1.2 Augmented Reality
2.11.1.3 Blockchain
2.11.1.4 5G
2.11.1.5 Digital Twin
2.11.1.6 IoT
2.11.2 Complementary Technologies
2.11.2.1 Smart Energy Management
2.11.2.2 Cybersecurity
2.11.3 Adjacent Technologies
2.11.3.1 Edge Computing
2.12 Trade Analysis
2.13 Patents Analysis
2.14 Key Conferences & Events, 2024-2026
2.15 Digitalization in Industrial Control
2.16 Regulatory Landscape
2.16.1 Regulatory Bodies, Government Agencies, and Other Organizations
2.16.2 Standards and Regulations Related to Industrial Robotics
2.17 Impact of AI on Industrial Control & Factory Automation Market
2.17.1 Introduction
2.17.2 AI Use Cases
3 Competitive Landscape
3.1 Overview
3.2 Key Player Strategies/Right to Win, 2022-2024
3.3 Market Share Analysis, 2023 (Industrial Robotics)
3.4 Revenue Analysis, 2019-2023
3.5 Market Share Analysis, 2023 (Industrial Sensors)
3.6 Market Share Analysis, 2023 (Process Analyzer)
3.7 Company Valuation and Financial Metrics
3.8 Brand/Product Comparison
3.9 Company Evaluation Matrix: Key Players, 2023
3.9.1 Stars
3.9.2 Emerging Leaders
3.9.3 Pervasive Players
3.9.4 Participants
3.9.5 Company Footprint: Key Players, 2023
3.9.5.1 Company Footprint
3.9.5.2 Region Footprint
3.9.5.3 Payload Footprint
3.9.5.4 Robot Type Footprint
3.9.5.5 End-use Industry Footprint
3.10 Company Evaluation Matrix: Startups/SMEs, 2023
3.10.1 Progressive Companies
3.10.2 Responsive Companies
3.10.3 Dynamic Companies
3.10.4 Starting Blocks
3.10.5 Competitive Benchmarking: Startups/SMEs, 2023
3.10.5.1 Detailed List of Key Startups/SMEs
3.10.5.2 Competitive Benchmarking of Key Startups/SMEs
3.11 Competitive Scenario and Trends
3.11.1 Product Launches
3.11.2 Deals
3.11.3 Expansions
4 Company Profiles
4.1 Key Players
4.1.1 Schneider Electric
4.1.2 Honeywell International Inc.
4.1.3 ABB
4.1.4 Rockwell Automation
4.1.5 Siemens
4.1.6 Emerson Electric Co.
4.1.7 Mitsubishi Electric Corporation
4.1.8 General Electric Company
4.1.9 Yokogawa Electric Corporation
4.1.10 Omron Corporation
4.1.11 Endress+Hauser Group Services AG
4.1.12 Fanuc Corporation
4.2 Other Key Players
4.2.1 Wika Alexander Wiegand SE & Co. KG
4.2.2 Dwywer Instruments, LLC
4.2.3 Stratasys
4.2.4 3D Systems
4.2.5 Fuji Electric Co. Ltd.
4.2.6 Hitachi Ltd.
4.2.7 Krohne
4.2.8 Azbil Corporation
4.2.9 Vega
4.2.10 Triditive
4.2.11 Ultimaker
4.2.12 Roboze
4.2.13 Softgripping
4.2.14 Zivid
4.2.15 Tegan Innovations
4.2.16 Nano Dimension
4.2.17 Onrobot A/S
4.2.18 Inxpect S.p.A.
For more information about this report visit https://www.researchandmarkets.com/r/6ld0fm
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