A recent report published by Infinium Global Research on the industrial control and factory automation market provides an in-depth analysis of
segments and sub-segments in the global as well as regional industrial control
and factory automation market. The study also highlights the impact of drivers,
restraints, and macro indicators on the global and regional industrial control
and factory automation market over the short term as well as long term. The
report is a comprehensive presentation of trends, forecasts, and dollar values of the global industrial control and factory automation market. According to the
report, the global industrial control and factory automation market are
projected to grow at a CAGR of 8.6% over the forecast period of 2020-2026.
Industrial control and factory automation incorporate
Industrial automation components, networks, and control system such as computers
or robots, and information technologies for handling different processes and
machinery. Industrial automation offers effective operation in an industry to
replace human intervention. It is the major footstep in the scope of
industrialization. Control systems play an important role in major industries
such as manufacturing, agriculture, oil and gas, and chemical industry. The
control systems combined with improved monitoring of the operating environment
in the industry allow for a flexible, efficient, and reliable production system.
Additionally, the current concerns over the spread of coronavirus are creating
a significant impact on industrial control and factory automation in the global
market. As the spread of COVID-19 is accelerating, the industrial control and
factory automation market is experiencing a complete decline from end-user
industries. As major end-user industries for factory automation are
manufacturing and process industries and the temporary shutdown of production as
well as labor issues may hamper the demand for the short term for the automation
market. Currently, the medical device industry is under massive pressure to scale
up production. Many manufacturers preferring automation in the process to
upscale the production and expand the capacity quickly.
The emergence of industry 4.0 along with the growing adoption of
industrial robots in many manufacturing sectors are driving the demand for
Industrial control and factory automation in the manufacturing industry. the focus of automation has shifted to enhancing quality and flexibility in a
manufacturing process along with increasing productivity. The benefits offered
by industry control and industrial automation such as effective productivity,
high quality, flexibility, information security, and safety increase the demand
from end user industry Further, implementation of connected enterprises owing
to the rising need for mass production to reach increasing consumer demand, will
augment the growth of the market. However, high capital investment associated
with factory automation hamper the demand of the market. Furthermore, rapid
advancement in technology, integration with the AI system, and rapid shifting of
many industrial processes, factories from mechanization to automation are
anticipated to upsurge the demand for industrial control and factory automation market in the forecast period.
Geographically, Asia Pacific held the largest share in the Industrial
control and factory automation market in 2019. China is a key revenue generator
in the Asia Pacific Industrial control and factory automation market. Growing
industrial automation and favorable government initiative for adopting
automation will increase demand for industrial control and factory automation
market in this region. Furthermore, the presence of leading industrial control and
factory automation companies in japan such as Yokogawa, Fuji, and Fanuc is
propelling the growth of the market.
The report on the global industrial control and factory
automation market covers segments such as component, solution, and industry
vertical. On the basis of components, the sub-markets include industrial robots,
machine vision, control valves, field instruments, human-machine interface,
sensors, and industrial 3d printing. On the basis of solution, the sub-markets
include PLC, SCADA, MES, DCS, PLM, and functional safety. On the basis of
industry vertical, the sub-markets include process industries, discrete
industries, process industries, and discrete industries.
The report provides profiles of the companies in the market
such as Siemens AG, ABB Ltd., General Electric Company, Yokogawa Electric
Corporation, Honeywell International Inc., Fuji Electric Co., Ltd., Danfoss,
Rockwell Automation, Inc., Schneider Electric, Mitsubishi Corporation.
The report provides deep insights into the demand forecasts,
market trends, and micro and macro indicators. In addition, this report
provides insights into the factors that are driving and restraining the growth
in this market. Moreover, The IGR-Growth Matrix analysis given in the report
brings an insight into the investment areas that existing or new market players
can consider. The report provides insights into the market using analytical
tools such as Porter's five forces analysis and DRO analysis of the industrial
control and factory automation market. Moreover, the study highlights current
market trends and provides forecasts from 2020-2026. We also have highlighted
future trends in the market that will affect the demand during the forecast
period. Moreover, the competitive analysis given in each regional market brings
an insight into the market share of the leading players.
Please Choose One of them.