The key factors driving the growth of the industrial control & factory automation market are increasing number of government initiatives to promote industrial automation and increasing integration of technologies such as IoT and AI with various industrial control & factory automation solutions.
New York, Oct. 07, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Industrial Control & Factory Automation Market by Component, Solution, Industry and Region – Global Forecast to 2027" - https://www.reportlinker.com/p05136806/?utm_source=GNW Growing use of automation in process and discrete industries is another major factor contributing to the growth of the industrial control & factory automation market. Industrial sensors held the largest share and industrial robots held the second largest share in 2021 Sensor technology has developed tremendously over the past decade.The increasing requirement for connectivity in manufacturing plants has encouraged manufacturers to adopt advanced sensors to capture data at various data points. Sensor manufacturers are continuously focusing on developing advanced solutions to help end users improve production efficiency.Industrial robots are reshaping the manufacturing industry by decreasing the need for physical work. They are used in industrial plants to increase productivity and eliminate errors.These robots are suitable for use in remote locations. Using automated robots in the industrial production line reduces time, cost, and wastage and leads to the development of high-quality and precise products. DCS accounted for the dominating share and PLC accounted for the second largest share of the industrial control & factory automation market in 2021 DCS enables process automation and control in industrial manufacturing plants. it facilitates decision integrity, simplified operations, and increased productivity. The major application areas of DCS are in the oil & gas, automotive, chemical, food & beverage, and pharmaceutical industries. Among process industries, the food & beverage industry is projected to account for the largest size of the industrial control & factory automation market for PLC during the forecast period. The growth of this segment can be attributed to the implementation and adherence to strict standards to respond to changing market requirements. Metals & mining industry is expected to register the highest growth rate in the process industry segment of the industrial control & factory automation market during forecast period The metal industry includes various metalworking processes, such as grinding, milling, spinning, and forging.The machinery used in metal processing requires quick, accurate, and efficient movement of metals, which is carried out by drives and PLCs. The adoption of automation in the mining & metals industry has improved productivity, increased safety, minimized wear, and enhanced reliability and quality of products.The safety of the workforce is always the top priority in mining operations. Hence, regulatory authorities across the world have set stringent rules and regulations for mine owners to ensure the safety of mines. These strict regulations force mining companies to adopt industrial control & factory automation technologies, which can help them predict and try to prevent a mishap in advance. Asia Pacific accounted for the largest share and North America held the second largest share of the industrial control & factory automation market in 2021 The dense population and the growth in per capita income in Asia Pacific, along with large-scale industrialization and urbanization, are driving the growth of the industrial control & factory automation market in this region.Asia Pacific has emerged as a global automotive manufacturing hub. Hence, motor vehicle suppliers such as Volkswagen, Toyota Motor Corporation, Renault-Nissan Alliance, Daimler, and local manufacturers such as Tata Motors and Mahindra and Mahindra have invested in automating their automobile production sites.Increasing potential of automotive industry has promoted increasing adoption of industrial control & factory automation solutions in the region. Rising demand for industrial control and factory automation solutions in the region can be attributed to the adoption of automation solutions in the pharmaceutical, chemical, food & beverage, automotive, and aerospace & defense industries. The requirement for tracking real-time data related to different industrial processes, ensuring their visibility, and enabling control over them is driving the adoption of automated solutions in the region. The break-up of the profiles of primary participants for the report has been given below: • By Company Type: Tier 1 = 40%, Tier 2 = 35%, and Tier 3 = 25% • By Designation: C-Level Executives = 48%, Directors = 33%, and Others= 19% • By Region: North America = 35%, Europe = 18%, Asia Pacific = 40%, and RoW = 7% Major players operating in the industrial control & factory automation market include ABB (Switzerland), Emerson (US), Siemens (Germany), Schneider Electric (France), Mitsubishi Electric (Japan), Yokogawa Electric Corporation (Japan), Endress+Hauser (Switzerland), Honeywell (US), Rockwell Automation (US), and General Electric (US), among others. Research Coverage: The research report on the global industrial control & factory automation market covers the market based on component, solution, industry, and region.Based on component, the industrial control & factory automation market has been segmented into industrial robots, machine vision systems, process analyzers, human-machine interface, field instruments, industrial PC, industrial sensors, industrial 3D printing, and vibration monitoring. Based on solution, the industrial control & factory automation market has been segmented into supervisory control and data acquisition (SCADA), programmable logic controller (PLC), distributed control system (DCS), manufacturing execution system (MES), industrial safety, and plant asset management (PAM).Based on industry, the industrial control & factory automation market has been segmented into process industry (oil & gas, chemicals, pulp & paper, pharmaceuticals, metals & mining, food & beverage, energy & power, and others which included fast-moving consumer goods (FMCG), HVAC, recycling, plastics, printing, cement, glass, rubber, furniture & wood, textile, and water and wastewater industries) and discrete industry (automotive, aerospace, semiconductor & electronics, machine manufacturing, medical device, and others which included ceramics, fabricating, and packaging industries). The report covers four major regions, namely, North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW). Key Benefits of Buying the Report: This report segments the industrial control & factory automation market comprehensively and provides the closest approximations of the overall market size, as well as that of the subsegments across different component, solution, industry, and region. The report helps stakeholders understand the pulse of the market, and expected market scenario and provides information on key market drivers, restraints, challenges, and opportunities. Read the full report: https://www.reportlinker.com/p05136806/?utm_source=GNW About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place. __________________________
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