The Industrial Control & Factory Automation Market Size was valued at USD 191 Billion in 2023 and is now anticipated to grow USD 405 Billion by 2031, displaying a compound annual growth rate (CAGR) of 8.70% during the forecast Period 2024-2031.
The Industrial Control & Factory Automation Market has been experiencing substantial growth, driven by the increasing adoption of automation technologies across various industries. This market encompasses a range of solutions, including programmable logic controllers (PLCs), distributed control systems (DCS), supervisory control and data acquisition (SCADA) systems, and human-machine interfaces (HMIs). These technologies are being integrated into manufacturing processes to enhance operational efficiency, reduce human error, and lower production costs. The rising demand for smart manufacturing solutions, which leverage advanced technologies such as the Industrial Internet of Things (IIoT), artificial intelligence, and big data analytics, is further propelling the market. These innovations enable real-time monitoring, predictive maintenance, and optimized production planning, making industrial operations more agile and responsive to market changes.
Another key driver for the growth of the Industrial Control & Factory Automation Market is the increasing focus on sustainability and energy efficiency. As governments and industries worldwide strive to meet stringent environmental regulations and reduce carbon footprints, there is a growing emphasis on adopting energy-efficient processes and equipment. Automation solutions play a crucial role in achieving these goals by enabling precise control over energy consumption, minimizing waste, and optimizing resource utilization. Moreover, the integration of renewable energy sources into industrial processes is creating new opportunities for automation technologies. For instance, smart grids and energy management systems are being implemented to balance energy loads and reduce reliance on non-renewable sources. As industries continue to prioritize sustainability and efficiency, the demand for advanced industrial control and automation solutions is expected to rise, driving further market expansion..
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Covid 19 impact analysis:
The latest report is the most recent study that offers 360° coverage of the Industrial Control & Factory Automation industry that has been facing the brunt of the adverse economic impact of the COVID-19 outbreak since the beginning of this year. The global health crisis has affected nearly every aspect of the business vertical and led to massive disruptions to the global Industrial Control & Factory Automation market demand and supply chains. Researchers draw predictions for the market scenario in the post-COVID era. The report, additionally, assesses the present market situation and estimates its future outcomes, keeping in mind the impact of the pandemic on the global economic landscape.
Major companies profiled in the market report include
Yokogawa Electric Corporation, Omron Corporation, WIKA, Mitsubishi Electric Corporation, Rockwell Automation, Yaskawa Electric Corporation, Toshiba Corporation, Honeywell International Inc., Dwyer Instruments, Stratasys, Hitachi and others.
Research objectives:
The latest research report has been formulated using industry-verified data. It provides a detailed understanding of the leading manufacturers and suppliers engaged in this market, their pricing analysis, product offerings, gross revenue, sales network & distribution channels, profit margins, and financial standing. The report’s insightful data is intended to enlighten the readers interested in this business sector about the lucrative growth opportunities in the Industrial Control & Factory Automation market.
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It has segmented the global Industrial Control & Factory Automation market
by Control Systems
- DCS
- PLC
- SCADA
- Others
by Industry
- Process Industry
- Discrete Industry
by Component
- Industrial Robots
- Collaborative Industrial Robots
- Machine Vision
- Control Valves
- Field Instruments
- Human–Machine Interface
- Industrial PC
- Sensors
- Industrial 3D Printing
Key Objectives of the Global Industrial Control & Factory Automation Market Report:
- The report conducts a comparative assessment of the leading market players participating in the global Industrial Control & Factory Automation
- The report marks the notable developments that have recently taken place in the Industrial Control & Factory Automation industry
- It details on the strategic initiatives undertaken by the market competitors for business expansion.
- It closely examines the micro- and macro-economic growth indicators, as well as the essential elements of the Industrial Control & Factory Automation market value chain.
- The repot further jots down the major growth prospects for the emerging market players in the leading regions of the market
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