Factory Automation Market Predicted to Grow $368.37 Billion by 2025, at 8.8% Growth Rate
Pune, Maharashtra, February 11, 2020 (Wired Release) Allied Market Research A rise in demand for automation for qualitative and reliable manufacturing, increasing the need for mass production with reduced operation cost, and surge in adoption of industry 4.0 enabling technologies industries have boosted the growth of the global factory automation market. However, a dearth of professionals as well as awareness regarding security and high implementation expenses for factory automation systems hamper the market growth. On the contrary, a rise in demand for automation in Asian countries such as China and Japan are expected to create lucrative opportunities in the near future.
The global factory automation market accounted for $203.98 billion in 2018 and is estimated to garner $368.37 billion by 2025, registering a CAGR of 8.8% from 2018 to 2025.
Download Sample Report: https://www.alliedmarketresearch.com/request-sample/4695
The global factory automation market is segmented into control systems, components, end user, and geography. On the basis of control systems, the market is divided into a distributed control system (DCS), supervisory control and data acquisition system (SCADA), manufacturing execution system (MES), safety instrumented system (SIS), programmable logic controllers (PLC), and human-machine interface (HMI). The SCADA segment dominated the market in 2018, contributing more than one-fifth of the market in 2018. However, the PLC segment is estimated to manifest the fastest CAGR of 9.4% during the forecast period.
Based on components, the market is divided into sensor, controllers, switches relays, industrial robots, drives, and others. The industrial robots segment held the lions share in 2018, contributing nearly one-third of the market. However, the drives segment is expected to register the fastest CAGR of 11.3% through 2025.
On the basis of end user, the market is bifurcated into automotive manufacturing, food beverage, oil gas processing, mining, and others. The automotive manufacturing segment held the largest share in 2018, accounting for more than one-fourth of the market. However, the other segment is projected to portray the fastest CAGR of 9.9% during the forecast period.
Have Any Query? Ask our Research Experts@ https://www.alliedmarketresearch.com/purchase-enquiry/4695
The market is analyzed across various regions such as North America, Europe, Asia-Pacific, and LAMEA. The market across Europe held the largest share in 2018, accounting for more than one-third of the market. However, the market across LAMEA is expected to register the fastest CAGR of 10.4% during the forecast period.
The report provides analysis of the major market players including Mitsubishi Electric Factory Automation, ABB Ltd., Honeywell International Incorporation, Siemens, Schneider Electric SA, Emerson Electric Corporation, Rockwell Automation, Inc., Omron Corporation, GE Company, and Yokogawa Electric Corporation.
Allied Market Research, a market research and advisory company of Allied Analytics LLP, provides business insights and market research reports to large as well as small- medium-scale enterprises. The company assists its clients to strategize business policies and achieve sustainable growth in their respective market domain.
Allied Market Research provides a one-stop solution right from data collection to investment advice. The analysts at Allied Market Research dig out factors that help clients understand the significance and impact of market dynamics. The company applies the clients insight on the factors such as strategies, future estimations, growth or fall forecasting, opportunity analysis, and consumer surveys among others. As follows, the company offers consistent business intelligence support to help clients transform into a prominent business firm.
Contact: David Correa 5933 NE Win Sivers Drive #205, Portland, OR 97220 United States Toll Free (USA/Canada): +1-800-792-5285, +1-503-894-6022, +1-503-446-1141 UK: +44-845-528-1300 Hong Kong: +852-301-84916 India (Pune): +91-20-66346060 Fax: +1?855?550-5975 email@example.com Web: https://www.alliedmarketresearch.com