Increase in demand for automation for qualitative and reliable manufacturing dominating Factory Automation Market

Increase in demand for automation for qualitative and reliable manufacturing dominating Factory Automation Market

Factory automation implies a set of technologies and automatic control devices to enhance the productivity and quality of products and simultaneously decrease the production cost. Also known as industrial automation, it minimizes human intervention in the industry and ensures a superior performance as compared to humans.

Factory automation comprises a set of technologies and automatic control devices, which are used to enhance the productivity and quality of products and simultaneously decrease the production cost. The market is driven by factors such as rise in demand for mass production in manufacturing industries that minimizes operational cost.

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Moreover, adoption of Industry 4.0 to promote smart manufacturing units that have minimal energy requirements has supplemented the market growth. However, limited inflow of funds, high investment in implementation of factory automation systems, and dearth of professionals are expected to hamper the growth of the global factory automation market.

The supervisory control and data acquisition system (SCADA) segment accounted for the highest share of about 22.0% in the global market in 2017 and is expected to grow at a CAGR of 9.1% during the forecast period. Among industry verticals, the automotive manufacturing sector is expected to be the leading revenue contributor in the coming years, owing to the increasing trend of automating processes to reduce human intervention, improve accuracy, reduce errors, and optimize redundant tasks.

The industrial robots segment accounted for a major share of about 31.0% of the global market in 2017. The adoption of industrial robots has increased in in developing economies owing to factors such as rapid urbanization, technological advancements, availability of cheap labor, and low manufacturing costs.

Asia-Pacific is one of the fastest growing regions in the global factory automation market. It is expected to witness higher growth rate during the forecast period, owing to supportive government policies, increased investment by key companies for expansion of business, and low manufacturing & labor cost.

Factory Automation Market Key Segments:

By Control Systems

• Distributed Control System (DCS)
• Supervisory Control and Data Acquisition System (SCADA)
• Manufacturing Execution System (MES)
• Safety Instrumented System (SIS)
• Programmable Logic Controller (PLC)
• Human Machine Interface (HMI)

By Components

• Sensors
• Controllers
• Switches & Relays
• Industrial Robots
• Drives
• Others

By End User

• Automotive Manufacturing
• Food & Beverage
• Oil & Gas Processing
• Mining
• Others

By Region

• North America
• U.S.
• Mexico
• Canada
• Europe
• UK
• Germany
• Italy
• France
• Rest of Europe
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Rest of Asia-Pacific
• LAMEA
• Latin America
• Middle East
• Africa

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Prominent players, such as ABB Ltd., Mitsubishi Electric Factory Automation, Siemens AG, Honeywell International Incorporation, Emerson Electric Corporation, Schneider Electric SA, Omron Corporation, Rockwell Automation, Inc., GE Company, and Yokogawa Electric Corporation, have focused on developing new products and acquiring small businesses to sustain the competition and expand their market presence.

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