Press release
Industrial Control and Factory Automation Market is expected to grow SD 229.3 billion by 2025, at a CAGR of 8.6% | Siemens (Germany), ABB (Switzerland), Emerson (US), Mitsubishi (Japan), and Schneider Electric (France)
Request a sample on this latest research report @ https://www.reportsnreports.com/contacts/requestsample.aspx?name=426417Siemens (Germany), ABB (Switzerland), Emerson (US), Mitsubishi (Japan), and Schneider Electric (France) are a few of the dominating players in the industrial control and factory automation market.Other companies involved in the development of smart manufacturing solutions include Rockwell (US), General Electric (US), Yokogawa (Japan), OMRON (Japan), and Honeywell (US).
“The industrial control and factory automation market to exhibit significant growth from 2020 to 2025”
The global industrial control and factory automation market size is expected to grow from USD 151.8 billion in 2020 to USD 229.3 billion by 2025, at a CAGR of 8.6%. The growth of the industrial control and factory automation market in China can be attributed to an increase in labor wages and the presence of a large number of automobile manufacturing plants in the country. The market in North America is projected to witness growth owing to the rising adoption of industrial control and factory automation technologies in different industries to automate their different processes The companies in the US have consolidated their production and increased their focus on operational expenditure over capital expenditure. The increasing use of smart manufacturing technologies is enabling manufacturers to enhance their production efficiency and decrease their operational expenditure.
“Industrial 3D printing is expected to so are highest in industrial control and factory automation market during forecast period”
Industrial 3D printing comprises scanning and printing software. Scanning software is used in various stages of product development, right from the conceptualization of products to their designing, prototyping, engineering, manufacturing, and quality controlling. Scanning software allows manufacturing of tools by 3D printing without working on their designs by simplifying scanning of tools that have already been developed using traditional methods.
“Distributed control system to dominate industrial control and factory automation market, by solutions, during forecast period”
The growth of this segment can be attributed to the ongoing rapid industrialization in emerging economies. Developing countries have expansion and capacity addition plans related to their power sector, which is expected to fuel the demand for DCS during the forecast period.
“APAC to be fastest-growing market for industrial control and factory automation during forecast period”
Among all regions, the market in APAC is expected to grow at the high estrate from 2020 to 2025.The growth of the market in this region can be attributed to the increasing adoption of industrial automation technologies, especially across China and India. The growth of the industrial control and factory automation market in China can be attributed to the increase in labor wages and the presence of a large number of automobile manufacturing plants in the country.
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