Industry Controls and Factory Automation Industry Growth Outlook to 2030 – Emerson, ABB, Schneider Electric, Mitsubishi Electric Corporation
Research Reports
Apr 13, 2022
Industry Controls and Factory Automation Market is projected to be worth USD 272.17 billion by 2030, registering a CAGR of 9.30% during the forecast period (2022 – 2030). , The market was valued at USD 137.95 billion in 2021. Industrial controls and factory automation system includes process control systems, networks and other forms of automation components which control physical assets as well as many processes. Industrial automation has wide applications in the process industry and discrete industry.
Various factors are propelling the industry controls factory automation market growth. According to the recent MRFR report, such factors include growing adoption in the manufacturing sector, increasing government initiatives, adoption in different industries, increasing use in connected enterprise, mass production to suffice the rising population, focus on industrial automation and optimum utilization of resources, growing population, and the initiatives by the government for the usage of industrial automation in different industries.
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On the flip side, lack of awareness, absence of standardization, narrow geographical diversity, limited fund generation for reinvestment, and the ongoing COVID-19 pandemic are factors that may limit the global industry controls factory automation market growth over the forecast period.
Key Players
The forefront players of the global industry controls and factory automation market are Emerson, ABB, Schneider Electric, Mitsubishi Electric Corporation, Siemens, Rockwell Automation, Honeywell, General Electric, Yokogawa, Omron, Fanuc, Endress+Hauser, Wika, Dwyer, 3D Systems, Stratasys, and HP.
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Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global industry controls factory automation market based on component, solution, and end use.
By component, the global industry controls factory automation market is segmented into industrial 3D printing, industrial PC, HMI, control valves, machine vision, and industrial robots. Of these, the industrial robots segment will lead the market over the forecast period.
By solution, the global industry controls factory automation market is segmented into MES, PLM, PAM, DCS, PLC, and SCADA. Of these, SCADA segment will dominate the market over the forecast period.
By end use, the global industry controls factory automation market is segmented into the process industry and discrete industry. The process industry is again segmented into power, food and beverage, mining and metals, pharmaceuticals, paper and pulp, oil and gas, chemicals, and others. The discrete industry is again segmented into medical devices, aerospace and defense, semiconductor and electronics, machine manufacturing, automotive, and others. Of these, the mining and metals industry will have a major share in the market over the forecast period.
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Regional Analysis
The geographical analysis of Asia Pacific, North America, Europe, and the Middle East & Africa, and South America had been conducted. As per the analysis by MRFR, the APAC region. Among all nations in APAC, China, and India is estimated to contribute significantly to the market growth. The rapid urbanization and rising competition is the factor driving the regional market. Moreover, sectors such as food and beverage, power generation, pharmaceutical, and chemicals are expanding at a fast pace, which is propelling the regional market. However, the outbreak of COVID-19 has brought a significant impact on the market. China is making attempts to retrieve its production activities since it acquires the forefront position of the global installation and production of automation and robotics. The pandemic has caused a significant reduction in exports due to the disrupted supply chain and spread of the pandemic. Besides, the spread of COVID-19 in Europe and North America is causing additional troubles for the Chinese manufacturing businesses, which influences the global market. The second position is attained by North America. The market is estimated to grow significantly in the forthcoming period. The region has a strong presence of established ley players, which augments the market in the region.
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