Industry Controls and Factory Automation Market Synopsis
Industry Controls Factory Automation Market is projected to be worth USD 272.17 billion by 2030, registering a CAGR of 9.30% during the forecast period (2022 - 2030).
The increasing usage of technologies in the manufacturing sector has played a major role in expanding the global industry controls and factory automation market. Besides, there has been a surge in the adoption of industrial robots in the manufacturing sector influenced by the collaborative robots, industrial automation in several sectors, and the growing initiatives are taken by the government have further propelled the market. Besides, meeting the increasing demand of the rising population and the inclination towards industrial automation and optimum utilization of resources are some of the most significant factors augmenting the market expansion. The research reveals the global industry controls and factory automation market is estimated to rise at a CAGR of 9.30% during the review period.
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Market Segmentation
The global industry controls and factory automation market is classified on the basis of solution, industry, and component. On the basis of end-use, the global industry controls and factory automation market can be classified into the process industry, which consists of Oil & Gas, Mining & Metals, Paper & Pulp, Food & Beverage, Chemicals, Power, Pharmaceuticals, and others. The discrete industry consists of Aerospace & Defense, Semiconductor & Electronics, Medical Devices, Automotive, Machine Manufacturing, and others. The mining and metals industry is estimated to lead the industry controls and factory market owing to its association with the extraction of mineral and metal reserves and fabrication of metals. On the basis of technology, the global industry controls and factory automation market can be classified into chemicals, oil and gas, pharmaceuticals, mining and metals, power, and others. On the basis of region, the global industry controls and factory automation market can be classified into the Asia Pacific, North America, Europe, and the Middle East & Africa, and South America.
Regional Analysis
The geographical analysis of Asia Pacific, North America, Europe, and the Middle East & Africa, and South America had been conducted. As per the analysis by MRFR, the APAC region. Among all nations in APAC, China, and India is estimated to contribute significantly to the market growth. The rapid urbanization and rising competition is the factor driving the regional market. Moreover, sectors such as food and beverage, power generation, pharmaceutical, and chemicals are expanding at a fast pace, which is propelling the regional market. However, the outbreak of COVID-19 has brought a significant impact on the market. China is making attempts to retrieve its production activities since it acquires the forefront position of the global installation and production of automation and robotics. The pandemic has caused a significant reduction in exports due to the disrupted supply chain and spread of the pandemic. Besides, the spread of COVID-19 in Europe and North America is causing additional troubles for the Chinese manufacturing businesses, which influences the global market. The second position is attained by North America. The market is estimated to grow significantly in the forthcoming period. The region has a strong presence of established ley players, which augments the market in the region.
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Key Players
The forefront players of the global industry controls and factory automation market are Emerson, ABB, Schneider Electric, Mitsubishi Electric Corporation, Siemens, Rockwell Automation, Honeywell, General Electric, Yokogawa, Omron, Fanuc, Endress+Hauser, Wika, Dwyer, 3D Systems, Stratasys, and HP.
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