Industrial Control and Factory Automation Market – Size, Outlook, Trends and Forecast (2024 – 2032)

Industrial control and factory automation is a rising trend in the manufacturing industry, which provides smart manufacturing infrastructure. The day-to-day technological advancements are helping the manufacturing process, and other such tasks perform a lot faster & cost effective.

Industrial Control and Factory Automation Market Segments Size & Growth:

The market is expected to reach $249.11 Billion by 2024 from $156.27 Billion in 2017 at a CAGR of 7.9%. The factors propelling the market growth mainly includes extensive use of enabling technologies in manufacturing, Continuous innovation in industrial robotics boosts its adoption in manufacturing and need for mass production and connected supply chain to cater to the growing population.

Industrial Control and Factory Automation Market Segments Share:

Global factory automation and industrial control market are categorised into system type, component, end user, and geography. Based on the system, the market is categorised into Control systems, software, machine vision, instrumentation, power backup, services and others. Among which control systems is further classified into PAC, DCS, SCADA AND PLC in which DCS is holding to the maximum share in the market as it handles entire control structure of a plant as a single automation system and its applications in oil & gas industry increased significantly with rising in exploration activities in the oil fields. Based on the component, the market is segmented into industrial robots, control devices, industrial networks, control valves, field instruments, cables, and sensors. Among which industrial robots holds the largest share as industrial robots are re-shaping manufacturing industries by decreasing the manual labour and are used in industrial plants to provide the best outcome with no-errors from a remote location. Based on the end user, the market is categorised into automotive, energy, health, food & beverages, textiles, chemicals, pharmaceuticals and others. Automotive, paper, textile and packaging are major end-user industries having demand in factory automation and industrial control market. Geographically, the market is categorised into North America, Europe, Asia-Pacific, South America and the Middle East and Africa. APAC holds the most significant share, APAC is preferred as manufacturing hub and adoption of automation in the automotive industry in APAC region is driving the market in this region.

Industrial Control and Factory Automation Market Trends:

• Industrial IOT facilitating advantages including proactive and predictive maintenance, asset and resource optimisation, real-time monitoring support the market through providing real-time connectivity benefiting the production progression.
• ABB has developed a compact sensor that is attached to the frame of low voltage induction motors without wiring using onboard algorithms; the smart sensor relays information about the health of the motor (via a smartphone and over the internet) to a secure server to display intelligent services.
• The application of industry 4.0 concepts to improve process automation is an effort being driven NAMUR and VDI/VDE in collaboration with several prominent leaders in the industry including ABB, BASF, and Bayer technology services.

Industrial Control and Factory Automation Market Research Report Includes:

An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.

To have complete market analysis, industry value chain analysis, Porter’s Five Force Analysis, PESTLE, SWOT analysis, and Y-o-Y analysis were carried to understand the market more comprehensively.

Regional and Global Diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year

Identifying DROC in the current market and their impact in altering the market dynamics.

Competitive landscape analysis to identify the mergers and acquisitions which will have a comparative financial study with significant competitors.

Expertise investment opportunities b an analyst to the individual and organisation to have a better foothold in the market.

The major market players are

• Schneider Electric
• ABB Ltd
• Teledyne
• Weidmuller Holding AG
• Rockwell Automation