Factory Automation Market Size to Reach USD 281,795.5 Million by 2030 | Top Key Players- ABB, Emerson Electric Co, Omron Corporation

Market Overview

Factory Automation ensures a standard process for carrying out the super quality of results along with enhanced consistency. It provides consistency to make sure of the production of qualitative and reliable products that benefits the retailers and the manufacturers. The industrial mass production is completely dependent upon the factory automation mechanism in order to fulfil its factory needs. Over the years, the minimal human intervention has made it possible for multiple advantages like eliminating the overall cost expense. This has also led to consistent production of high-quality of products along with less labour cost.

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The Factory Automation Market, with its potential growth and development in its forecast period, is estimated to stand at a global market size of $368 372 million by the end of 2025. The forecast period of the market is predicted from 2018 to 2025. With a substantial and fixed market growth rate of 8.8% of CAGR, the market stood at a $190 882 million trend in 2017. There have been multiple factors in the market dynamics that have driven the growth and development of the market. The usage of factory automation majorly reduces human intervention in the industry, which leads to enhanced quality of material production. This also leads to a superior performance than any other appliance and mechanism. There is an enhanced involvement of control systems, robots and information technologies along with computers. The growing adoption of industries, along with IoT-based smart technologies and the 4.0 trend, has additionally boosted the growth and development of the market. However, along with the market drivers, there have been multiple factors restraining the market growth.

The dynamics of the Factory Automation Market were majorly disrupted by the lockdown and other restrictions set by the government. The supply of the raw materials was hampered, leading to a shortage in the import and export business of the dealers and manufacturers. The limited availability of professional staff with adequate knowledge about the functioning of the set-up along with a reduced idea about the security system of the same has restricted the market. Despite this, healthy growth is estimated for the market in its forecast period.

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Market Segmentation

The Factory Automation Market is majorly segmented into type, technology and end-user industries.

Based on type, the market is segmented into programmable automation, integrated automation, fixed automation and flexible automation. The market is again segmented by technology: programmable automation controller, distributed control system and human-machine interface. Based on end-user industries, the market is again segmented into automotive, energy and power, printing, and converting industries.

Regional Analysis

The Factory Automation Market is majorly spread over parts of North America, Europe, Asia-Pacific and the rest of the world. This includes parts of the US, Canada and Italy, Germany, France and China and Japan, along with parts of South America and Middle-East and Africa.

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Industry News

Several key players in the Factory Automation Market have been part of potential collaborations and product launches. Some of the major key players are Schneider Electric SA, Yokogawa Electric Corporation, Rockwell Automation, Emerson Electric Corporation and Honeywell International Incorporation. This has majorly driven the growth and development of the market.

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