Factory Automation Market 2020 Global Size, Trends, Industry Growth, Segmentation, Development Strategy, Competitive Landscape and Opportunity Assessment by 2022
Market Research Future published a research report on Factory Automation Market Research Report- Global Forecast 2022 Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.
Factory Automation Market Overview
Factory automation refers to minimizing or restricting human interference in repetitive operational activities with the help of connected devices and machinery equipment. According to the report published by Market Research Future (MRFR), the global factory automation market has been projected to register 8% CAGR over the assessment period 2016 to 2022. The market is anticipated to gain prominence over the next couple of years and scale a valuation of USD 240 Bn by 2022.
The developments in IoT and IIoT has been widely accepted by end-user industries to use human productivity and channelize it to resourceful activities. In the process, the repetitive tasks have been allocated to machines, thus, paving way for the development of the Factory Automation Market. In addition, rising implementation of labor safety regulations has led the development of advanced technologies for the performance of tasks in hazardous scenarios. These factors are poised to drive the augmentation of the factory automation market in the forthcoming years.
The development of sensor, robotics, and AI technology has proven to be a major boost for the global market. Also, it is expected that the factory automation market will be witnessing innovations through the forecast period. This, in turn, is expected to augment the market place over the next few years.
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The prominent players in the Factory Automation Market are Siemens AG, ABB Ltd, Emerson Electric Corporation, Rockwell Automation, Honeywell International Inc., Schneider Electric, Rexroth Bosch Group, Mitsubishi Electric Corporation, Yokogawa Electric Corporation, and Omron Corporation.
On the basis of type, the factory automation market has been segmented into programmable automation, fixed automation, flexible automation, and integrated automation. Among these, the fixed automation segment is projected to exercise dominance over the market through the assessment period. It is also estimated to reach a valuation of USD 120 Bn by 2022.
On the basis of technology, the factory automation market has been segmented into Distributed Control System (DCS), Programmable Logic Controller (PLC), Programmable Automation Controller (PAC), Human Machine Interface (HMI), and Supervisory control and data acquisition (SCADA). Among these, the Supervisory control and data acquisition (SCADA) segment is expected to register 10% CAGR during the review period.
Based on end-user, the factory automation market has been segmented into manufacturing, automotive, packaging processing, energy power, semiconductor electronics, printing converting, and others. Among these, the manufacturing segment plays a key role in the development of the market. It is supposed to lead the growth of the market and touch a valuation of USD 50 Bn by the end of the evaluation period.
The geographical evaluation of the global factory automation market is covered in this report on the basis of four key regions Europe, Asia Pacific, North America, and the Rest of the World (RoW). These region-based segments are then narrowed down to country-level basis for an in-depth study. North America is a prominent region of the global market. The rapid developments in robotics technology in the U.S. are anticipated to contribute to the development of the factory robotics market. Also, the region is equipped with infrastructure to support the adoption of factory automation systems. These factors are supposed to enable proliferation of the market in the region. Asia Pacific is also prognosticated to grow substantially. The growth of the manufacturing sector in the region is poised to generate demand for automation technology. It is poised to drive the growth of the factory automation market in the forthcoming years.
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Dec 2019 Omron has commenced the sixth wave of its factory automation control devices manufactured on a shared design platform for additional innovation in control panel construction. To achieve this objective, Omron presented Panel Solution, a combined design and dimension for control panel equipment, along with the companys exclusive wiring technique, screwless Push-In Plus technology.
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