The industrial control and factory automation market size is expected to hit around USD 235 billion by 2027 from USD 151.9 billion in 2020, at a CAGR of 8.9%.
The growth of this market can be attributed to the emphasis on industrial automation and optimum utilization of resources, increased use of enabling technologies in manufacturing, a rise in the adoption of industrial robots in the manufacturing sector driven by collaborative robots, connected enterprise along with mass production to meet the demands of the growing population, and government initiatives toward the adoption of industrial automation in various industries.
Industrial controls and factory automation use set technologies and automatic control devices that results the automatic operation and control of industrial processes without significant human intervention and achieving superior performance than manual control. These automation devices include PLCs, PCs, PACs, etc. and technologies include various industrial communication systems. It facilitates to increase the product quality, reliability and production rate while reducing production and design cost by adopting new, innovative and integrated technologies and services.
Globally, the industrial controls and factory automation industry market is relatively concentrated as the manufacturing technology of industrial controls and factory automation is relatively high. And some enterprises, like SIEMENS, Mitsubishi Electric and ABB, etc. are well-known for the wonderful performance of their industrial controls and factory automation and related services. The consumption volume of industrial controls and factory automation is related to downstream industries and global economy. Industrial controls and factory automation is widely used in many industries and general manufacturing industry has the largest market share of no more than 35%, which followed by automotive industry of market share of about 30%.
Industrial robots are expected to be largest contributor in components of industrial control and factory automation during forecast period
Industrial robots are likely to hold the largest share of components of the industrial control and factory automation market during the forecast period. Manufacturers are installing industrial robots to make production and distribution easy and efficient. The installation of industrial robots is reducing human intervention in the production process, thereby reducing the cost of manufacturing with improved quality and increased production capacity.
Mining and metals industry likely to show highest growth in process industries of industrial control and factory automation market during forecast period
The mining and metals industry is expected to witness the highest growth rate during the forecast period in process industries. The mining and metals industry is related to the extraction of mineral and metal reserves and the fabrication of metals. The metal industry offers metal working processes such as grinding, milling, spinning, and forging. Mining operations are difficult to execute and manage in remote and hazardous locations. Machinery used in metal processing requires quick and efficient movement of metals with accuracy that is driven by drives and PLCs. Drives provide precise speed and torque control (e.g., cranes), while PLCs provide flexibility to the process. Due to the adoption of automation in this field, it provides better productivity, ensures safety, minimizes wear, enhances reliability, and improves quality.
“Sensors to capture largest market share of global industrial control and factory automation market for components”
Sensors are an essential part of industrial control and factory automation solutions. Manufacturers of sensors are continuously focusing on developing advanced solutions to help end users in enhancing their production efficiency. The smart sensor can transform simple motor into intelligent machines, which inform machine operators about the operating conditions of machines and about their servicing requirements to avoid unexpected machine breakdowns, optimizing the performance of machines. Hence, it is expected to capture the largest market share in the component of the industrial control and factory automation market by 2025.
“Process automation and control in industrial manufacturing plant drives growth for DCS ”
DCS held the largest market share of the industry control and factory automation market. This growth is attributed to a high rate of industrialization in developing economies. Developing countries have expansion and capacity addition plans related to the power sector, which would boost the demand for DCS. DCS provides process automation and control in industrial manufacturing plants that drive the industrial control and factory automation market. The advantages of using DCS systems in manufacturing plants are decision integrity, simplified operations, and increasing productivity. Some of the application areas of DCS are oil & gas, automobile, chemical, food & beverages, and pharmaceuticals industries.
“APAC to be largest market for industrial control and factory automation during forecast period.”
The market in Asia Pacific (APAC) comprises Japan, China, India, and RoAPAC. APAC is expected to be the fastest-growing region for the industrial control and factory automation market due to the technological innovations and high adoption of automation technologies in various industries. The major application areas for industrial control and factory automation in APAC are chemicals, oil & gas, water, semiconductor, electronics, food, and automobiles. China is one of the major players from the APAC region in the industry control and factory automation market. China has been working on an innovative industrial practice by implementing automation technologies in manufacturing. In addition, research institutes and corporates are collaboratively working to improve Chinas manufacturing processes. Further, in China, industrial intellectualization and information integration remain the main focus of the government industrial policy. This initiative is expected to increase the demand for industrial control and factory automation in this country.
Market Analysis and Insights
The research report studies the Industrial Controls and Factory Automation market using different methodologies and analyzes to provide accurate and in-depth information about the market. For a clearer understanding, it is divided into several parts to cover different aspects of the market. Each area is then elaborated to help the reader comprehend the growth potential of each region and its contribution to the global market. The researchers have used primary and secondary methodologies to collate the information in the report. They have also used the same data to generate the current market scenario. This report is aimed at guiding people towards an apprehensive, better, and clearer knowledge of the market.
The global Industrial Controls and Factory Automation market size is projected to reach US$ 194170 million by 2026, from US$ 128090 million in 2020, at a CAGR of 7.2% during 2021-2026.
Global Industrial Controls and Factory Automation Scope and Segment
The global Industrial Controls and Factory Automation market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global Industrial Controls and Factory Automation market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on revenue and forecast by region (country), by Type, and by Application for the period 2015-2026.
by Type, the market is primarily split into
by Application, this report covers the following segments
Global Industrial Controls and Factory Automation market: regional analysis, the major regions covered in the report are:
Rest of Europe
Rest of Asia-Pacific
Middle East & Africa
Rest of Middle East & Africa
The report lists the major players in the regions and their respective market share on the basis of global revenue. It also explains their strategic moves in the past few years, investments in product innovation, and changes in leadership to stay ahead in the competition. This will give the reader an edge over others as a well-informed decision can be made looking at the holistic picture of the market.
The Industrial Controls and Factory Automation key players in this market include: