Factory Automation Market with Trend Shows a Rapid Growth, Competitive Analysis, Future Prospects, Market Size, Share, Growth Factors, Forecast to 2028

Global Factory Automation Market Analysis to 2028 is a specialized and in-depth study of the Factory Automation market with a special focus on the global market trend analysis. The factory automation market is expected to grow from US$ 154.99 billion in 2022; it is estimated to grow at a CAGR of 8.2% from 2022 to 2028. Leading factors boosting the growth of the factory automation market are the rise in the adoption of IoT, constant improvement in industrial robotics, and the emergence of the 5G technology. Further, the demand for safety compliance automation products is expected to provide significant growth opportunities to the factory automation market in the near future. However, the need for substantial capital investment to establish an error-free automation system is anticipated to pose a big challenge to the market's growth during the forecast period. Factory Automation Market research involves the study of various factors affecting the industry, including market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers, and challenges. New Report on "Factory Automation Market" makes a brilliant attempt to unveil key opportunities available in the global Factory Automation Industry to help players in achieving a strong market position.

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Top Listed Players in this Report are:
ABB Ltd.
Emerson Electric Co.
Fanuc Corporation
General Electric Company
Mitsubishi Electric Corporation
Honeywell International Inc.
OMRON Corporation
Rockwell Automation, Inc.
Siemens AG
Bosch Rexroth AG

Adapting to the recent novel COVID-19 pandemic, the impact of the COVID-19 pandemic on the global Factory Automation Market is included in the present report. The influence of the novel coronavirus pandemic on the growth of the Factory Automation Market is analyzed and depicted in the report.

Market Dynamics:
The increasing awareness regarding the use of the growing adoption of electric vehicles and energy-efficient motors are some of the major factors driving the growth of the market. However, the motors with high power generate extensive vibration, strain, and heating during their functioning, which are the elements restraining the growth of the market. The Increase in HVAC installations and rise in construction activities, especially in the developing economies, further accelerates the adoption of electric AC motors.

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Technology-Based Insights - Factory Automation Market
Based on technology, the market is segmented into programmable logic controller (PLC), distributed control system (DCS), supervisory control and data acquisition system (SCADA), human machine interface (HMI), and others. The SCADA segment accounted for the largest factory automation market share in 2021.

Market Segmentation:
The market is segmented based on component, type, technology, industry vertical, and geography. Based on component, the factory automation market is segmented into hardware and software. The hardware segment is further divided into sensors, controllers, robots, drives, and others. Based on type, the factory automation market is categorized into programmable automation, fixed automation, and flexible automation. Based on technology, the market is divided into programmable logic controller (PLC), distributed control system (DCS), supervisory control and data acquisition system (SCADA), human machine interface (HMI), and others.

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