According to a new market research report published by Global Insight Services “Industrial Control & Factory Automation Market is expected to reach US$ XX bn by 2031”. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.
Industrial Control & Factory Automation is the process of automating the production process in a factory. This can be done through the use of machines, robots, and other automated systems. The aim of industrial automation is to increase productivity and efficiency while reducing costs.
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Key Players
- ABB Ltd.
- Endress+Hauser AG
- Emerson Electric Co.
- General Electric
- Rockwell Automation, Inc.
- Schneider Electric SE
- Siemens AG
- Mitsubishi Electric Corp.
- Honeywell International Inc.
Key Trends
The industrial control and factory automation technology landscape is constantly evolving. However, a few key trends have emerged in recent years that are having a significant impact on the way manufacturers operate.
One of the most important trends is the move towards Industry 4.0, or the fourth industrial revolution. This is a term used to describe the trend towards more connected, automated factories that make use of data and analytics to improve efficiency and quality. Industry 4.0 is made possible by advances in technologies such as the Internet of Things (IoT), big data, and artificial intelligence (AI).
Key Drivers
The key drivers of the industrial control and factory automation market are the continued advancement of technology, the need for increased efficiency and productivity, and the need for improved safety and security. Technology is continuously advancing, which is resulting in new and improved products and services. This is leading to increased efficiency and productivity in the manufacturing sector.
In addition, the need for improved safety and security is another key driver of the market. With the increasing number of terrorist attacks and industrial accidents, there is a growing need for better safety and security measures.
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Market Segments
By Component
- Industrial Sensors
- Industrial Robots
- Industrial 3D Printers
- Machine Vision Systems
- Process Analyzers
- Field Instruments
- Human-Machine Interface
- Industrial PC
- Vibration Monitoring
By Solution
- SCADA
- PAM
- PLC
- DCS
- MES
- Industrial Safety
By Industry
- Oil & Gas
- Chemicals
- Pharmaceuticals
- Food & Beverages
- Automotive
- Aerospace & Defense
- Semiconductor & Electronics
- Others
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