Industrial, Manufacturing & Heavy Industry Market News

Industrial control and factory automation market worth US$ 240 billion by 2023

Industrial Market Research

The industrial control and factory automation market is expected to be valued at USD 239.11 billion by 2023 from USD 155.26 in 2017, at a CAGR of 7.4% between 2017 and 2023. The key driving factors for the growth of the industrial control and factory automation market are extensive use of enabling technologies in manufacturing, continuous innovation in industrial robotics boosting its adoption in manufacturing.

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The objective of the report is to provide a detailed analysis of the industrial control and factory automation market on the basis of solution, component, industry, and geography. The report also comprise of enabling technologies which support the manufacturing industries in industrial control and factory automation.

The report provides detailed information regarding the major factors influencing the growth of the industrial control and factory automation market.

Key Target Audience:

  • Manufacturers of Adhesives & Sealants
  • Raw Material Suppliers
  • Traders, Distributors, and Suppliers of Adhesives & Sealants
  • Government & Regional Agencies and Research Organizations
  • Investment Research Firms

The research methodology used to estimate and forecast the industrial control and factory automation market begins with capturing data on the revenue of the key vendors through secondary research through sources such as IEEE Robotics and Automation Society (RAS), Automation Industry Association (AIA), and International Federation of Robotics (IFR). The vendor offerings are also taken into consideration to determine the market segmentation.

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The industrial control and factory automation market in Asia Pacific (APAC) is expected to grow at the highest CAGR between 2017 and 2023.China is one of the major countries supporting the growth of industrial control and factory automation in this region. China has been working on innovative industrial practices by implementing automation technologies in manufacturing companies.

Competitive Landscape

1 Overview

2 Competitive Situation & Trends

3 Market Share Analysis of Key Players

4 Competitive Benchmarking Matrix

5 New Product Launches

6 Mergers & Acquisitions

7 Investments & Expansions

8 Partnerships, Contracts & Agreements

The key players in the industrial control and factory automation market are Siemens (Germany), ABB (Switzerland), Emerson (US), Mitsubishi (Japan), and Schneider (France),Rockwell (US), General Electric (US), Yokogawa (Japan), Omron (Japan), and Honeywell (US).

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The Industrial Internet of Things (IIoT) is expected to hold the largest share of enabling technology by 2023. IIoT is a transformative manufacturing strategy that helps automation manufacturing companies to improve quality, safety, and productivity in their plants.

IIoT is used in the manufacturing plants is a combination of machine learning, big data, sensor data, and machine-to-machine communication. IIoT helps in predictive and proactive maintenance, real-time monitoring, and remote diagnosis.

Key Benefits of Buying the Report:

  • Illustrative segmentation, analysis, and forecast of the market based on solution, component, industry, and geography have been conducted to give an overall view of the industrial control and factory automation market.
  • Major drivers, restraints, opportunities, and challenges for the industrial control and factory automation market have been detailed in this report.
  • The report includes a detailed competitive landscape along with key players and their revenue.

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