Factory Automation Industry Is Estimated to Grow at A Significant CAGR In the Upcoming Period as The Scope and Its Applications Are Rising Enormously Across the Globe

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.

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Global Factory Automation Market: Regional Analysis-

The report has been curated after observing and studying various factors that determine regional growth such as economic, environmental, social, technological, and political status of the particular region. Analysts have studied the data of revenue, production, and manufacturers of each region. This section analyses region-wise revenue and volume for the forecast period of 2023 to 2028. These analyses will help the reader to understand the potential worth of investment in a particular region. The report offers in-depth assessment of the growth and other aspects of the Factory Automation Market in important regions. Key regions covered in the report are North America, Europe, Asia-Pacific and Latin America.

Global Factory Automation Market: Competitive Landscape

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South & Central America. The market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

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The List of Companies - Factory Automation Market
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

Leading market players and manufacturers are studied to help give a brief idea about them in the report. The challenges faced by them and the reasons they are on that position are explained to help make a well informed decision. Competitive landscape of Market is given presenting detailed insights into the company profiles, developments, merges, acquisitions, economic status and best SWOT analysis.

NOTE: Our team is studying Covid-19 and its impact on various industry verticals and wherever required we will be considering Covid-19 analysis of markets and industries. Cordially get in touch for more details.

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Segments-

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.

SCADA combines software and hardware elements that allow organizations to control and monitor factory processes locally or remotely. It also gathers real-time process data through sensors, valves, pumps, motors, etc., through HMI software and records events into a log file. The rise in the adoption of Industry 4.0 solutions, the high demand for industrial mobility solutions for efficient management of the process industry, and the use of software platforms such as IoT and artificial intelligence in the industrial sector drive the demand for SCADA in factory automation applications.

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The Insight Partners is a one stop industry research provider of actionable intelligence. We help our clients in getting solutions to their research requirements through our syndicated and consulting research services. We specialize in industries such as Semiconductor and Electronics, Aerospace and Defense, Automotive and Transportation, Biotechnology, Healthcare IT, Manufacturing and Construction, Medical Device, Technology, Media and Telecommunications, Chemicals and Materials.

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