Global “Factory Automation & Industrial Controls Market” Report 2020 contains a comprehensive analysis of the important segments like market opportunities, import/export details, market dynamics, key manufacturers, growth rate, and key regions. The Factory Automation & Industrial Controls market growth is expected to register a CAGR of 9.81% during the forecast period. Factory Automation & Industrial Controls Market reports offer a detailed assessment of the Factory Automation & Industrial Controls including enabling technologies, current market scenario, market assumptions, restraining factors.
Factory Automation & Industrial Controls Market Report covers the Top Key-players 2020:-
- Rockwell Automation Inc.
- Honeywell International Inc.
- General Electric Company
- ABB Ltd.
- Emerson Electric Company
- Dassault Systems SE
- Autodesk Inc.
- Mitsubishi Electric Corporation
- Siemens AG
- Aspen Technology Inc.
- Robert Bosch GmbH
- Texas Instruments Inc.
- Johnson Controls International PLC
The global Factory Automation & Industrial Controls market covers the vision of competitor analysis by product types, market share, applications, sales, and revenue.
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The global factory automation & industrial controls market was valued at USD 216.9 billion in 2017, and is expected to reach a value of USD 381.7 billion by 2023, at a CAGR of 9.81%, during the forecast period 2018 – 2023. With the rapid increase in competition, customer requirements, and manufacturing units around the world are forced to adopt newer technological innovations and digital transformation solutions to make their business process as efficient as possible. Industry 4.0 is transitioning industries from having legacy systems to smart components & smart machines to facilitating digital factories, and later to an ecosystem of connected plants and enterprises. According to a recent study, over 45% of activities individuals are paid to perform can be automated. In public transit, SCADA systems are enabled by industrial automation products to ensure trains and traffic grids remain fluid and decongested.
Emphasis on Cost-Cutting and Business Process Improvement is Driving Market Growth
The developments in wireless technology have opened-up new avenues for the market, with improved quality, increase in production and savings on labor cost. With technologies, like DCS, PLC, SCADA, and MES, automation equipment has become more sophisticated, performing more complex actions at less operating cost. In addition, coupled with the advances in sensor technology, the technologies have started the era for smart manufacturing, resulting in business process improvement. Improved efficiency and reduction in production costs, compared to conventional manufacturing process is enhancing the growth of the market.
Robotics is the Fastest Growing Segment in the Field Devices
Industrial robots provide a wide range of benefits, such as enhancing efficiency, improving safety and ergonomics, optimize cost, speed-up the processes, and increase reliability. Increased need for automation and aging population has spurred a demand in the industrial robotics. China has shown a rapid investment in the industrial automation, which is observed by the increased need in the industrial robotics and machine tools. The largest scope for the robotics investment in the future is observed in Asia-Pacific region except Japan, which is the fastest growing market for manufacturing output.
North America has the Largest Market Share
With an enormous presence of manufacturing and production units in the North American region, the advent of IoT in various industries has enhanced the production capacity and led to the optimization of manufacturing processes. US is the major market for factory automation and Industrial control within the North American region. The demand for advanced manufacturing robotic technologies would help a long way for the growth of the market in the region. The increased competiveness among the vendors and manufacturers is expected to bring about interesting growth prospect in the world of industrial automation, resulting in growth of the market.
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Important Questions Answered in the Report:
- What will be the CAGR% in during the forecast year?
- What are the challenges or threats for new applicants?
- How growth rate will be affected by key regions?
- At what stage of development is the global Factory Automation & Industrial Controls market?
- What are the restrictive factors of the Factory Automation & Industrial Controls market?
Highlighted points of Factory Automation & Industrial Controls Market Report:
- Covers the varying market dynamics of the industry.
- In-depth analysis of market risks, opportunities, limitations, and growth of the market.
- Includes market driving and restraining factors.
- Participants profiles along with product description, overview, and business data.
- Include details of five years of forecast analysis by types, regions, and applications.
Key Developments in the Factory Automation & Industrial Controls Market:
The m
Reasons to Purchase this Report
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Finally, the report Global Factory Automation & Industrial Controls Market 2020 describes the Factory Automation & Industrial Controls industry expansion game plan, the Factory Automation & Industrial Controls industry knowledge supply, appendix, analysis findings, and the conclusion.
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