Factory Automation Market is Flourishing Due to its Rapid Demand in Automotive Manufacturing Industry

The global factory automation market size is expected to reach $368,372.4 million in 2025, from $190,882.2 million in 2017 growing at a CAGR of 8.8% from 2018 to 2025. Factory automation implies a set of technologies and automatic control devices to enhance the productivity and quality of products and simultaneously decrease the production cost. Also known as industrial automation, it minimizes human intervention in the industry and ensures a superior performance as compared to humans. It comprises the use of computers, robots, control systems, and information technologies to handle industrial processes. ABB Ltd., Mitsubishi Electric Factory Automation, Siemens, and Emerson Electric Company are some leading key players in the factory automation market.

Factory automation standardizes industrial processes and ensures consistent, superior-quality results; thus, it has high demand in industries for reliable, qualitative manufacturing. Moreover, it fulfils the demand of mass production in industries owing to its features such as minimal human intervention, improved quality, and lesser labor expenses, which culminate in minimum overall operational cost. The demand for factory automation has an additional boost due to the growing adoption of Industry 4.0 trend and IoT enabled smart technologies. However, the growth of factory automation is hindered due to high investment, limited availability of professionals, and inadequate awareness about security.

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The global factory automation market is segmented based on control and safety system, component, industry vertical, and region. On the basis of the control and safety system, it is categorized into the distributed control system (DCS), supervisory control and data acquisition system (SCADA), manufacturing execution system (MES), safety instrumented system (SIS), programmable logic controllers (PLC), and human machine interface (HMI). In 2017, the SCADA segment dominated the market in terms of revenue, and it is expected to maintain this trend in the coming years.

The industry vertical segment is divided into automotive manufacturing, food & beverage, oil & gas processing, mining, and others. In 2017, the automotive manufacturing segment accounted for the highest market share due to increased expansion and investment in the automotive sector.

On the basis of the region, the factory automation market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. In 2017, Europe contributed the highest share, on account of the presence of key factory automation companies such as Siemens, ABB, Schneider, and others and also the Industry 4.0 initiative to improve manufacturing productivity. Asia-Pacific is expected to expand with the highest CAGR during the forecast period.

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Competitive analysis and profiles of the major global factory automation market players such as ABB Ltd., Mitsubishi Electric Factory Automation, Siemens, Honeywell International Incorporation, Emerson Electric Corporation, Schneider Electric SA, Omron Corporation, Rockwell Automation, Inc., GE Company, and Yokogawa Electric Corporation are provided in this report. The key strategies adopted by these key players from 2015 to 2018 were product launches, acquisitions, and collaboration.

Other prominent players in the market include Kuka AG, Keyence Corporation, Fanuc, Bosch Rexroth, Fuji Electric, Endress+Hauser, and Hitachi.

Key Benefits

• The report provides an extensive analysis of the current and emerging market trends and dynamics in the global factory automation market.
• An in-depth analysis is conducted by constructing market estimations for the key market segments from 2017 to 2025.
• An extensive analysis of the market is conducted by following the key product positioning and monitoring the top competitors within the market framework.
• A comprehensive analysis of all regions is provided in the report to determine the prevailing opportunities in these geographies.
• The key market players within the factory automation market are profiled in this report, and their strategies are analyzed thoroughly, which helps in understanding the competitive outlook of the global factory automation market.

Posted by alliedanalytics on Monday October 15 2018, 12:30 PM EDT. All trademarks acknowledged. Filed under Uncategorized. Comments and Trackbacks closed. Follow responses: RSS 2.0