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Industrial Control and Factory Automation Market – Defining Factory of Future with Key Player Analysis Including ABB, Schneider Electric, Siemens, Rockwell Automation, Emerson Process Management, Yokogawa, Honeywell, Ametek Inc, Aspen Technology Inc, an
With this report, an organization can have easy access to the details that will have the most substantial bearing on the overall development of the Industrial Control and Factory Automation Market or the sectors that matter the most to organizations. The report is accumulated with the intent of providing necessary market information to vendors functioning in the Industrial Control and Factory Automation Market. It thus makes for a resourceful data depository that can help decision-makers devise the most effective business strategies.
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According to Verified Market Intelligence, The Global Industrial Control and Factory Automation Market was valued at USD 152.36 billion in 2016 and is projected to reach USD 287.74 billion by 2025, growing at a CAGR of 7.32% from 2017 to 2025.
Industrial control and factory automation system mainly comprise of computers, information technologies, and equipment that helps in handling various machinery and processes in an industry. It helps in reducing the human interaction in carrying out various processes in different industries. Industrial control and factory automation system offer many benefits such as high productivity, flexibility, reliability, high information accuracy, enhanced production quality, improved safety, minimal use of workers and many more. Increasing demand for smart manufacturing infrastructure has led to the growth of industrial control and factory automation market.
Growing demand for safety compliance automation products, increasing government initiatives for industrial automation in various sectors, and the rise in usage of enabling technologies in manufacturing have been driving the global industrial control and factory automation market. On the other hand, high initial cost, lacking technical expertise and increasing cyber threats might hinder the overall growth at a global level.
The “Global Industrial Control and Factory Automation Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as ABB, Schneider Electric, Siemens, Rockwell Automation, Emerson Process Management, Yokogawa, Honeywell, Ametek Inc, Aspen Technology Inc, and Omron. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis.
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