Factory Automation Market to reach USD 578.26 Bn by 2029, emerging at a CAGR of 8.9 percent and forecast 2023-2029

Factory Automation Market Report Scope and Research Methodology

The Factory Automation Market was valued at USD 318.37 Billion in 2023 and is projected to reach USD 578.26 Billion by 2030, with a CAGR of 8.9% during the forecast period (2024-2030).

The Factory Automation Market report provides comprehensive insights into various types of factory automation systems, their applications across industry verticals, control and safety systems analysis, and regional market dynamics. It covers segments such as sensors, controllers, industrial robots, and more, along with industry verticals like automotive manufacturing, food & beverage, oil & gas processing, and others.

Our analysis is based on thorough research methodologies, including primary and secondary research, market surveys, expert interviews, and data triangulation to ensure accuracy and reliability of the findings.

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Factory Automation Market Dynamics:

The surge in demand for automation in manufacturing is fueling the growth of the factory automation market. Various industries are increasingly adopting industrial automation to integrate information technology with machinery, creating intelligent manufacturing systems. This integration standardizes production processes, ensuring consistent and high-quality results while minimizing errors caused by human intervention.

Additionally, there is a growing need for mass production with reduced operational costs, which is further driving the demand for factory automation. Industry players are prioritizing efficiency in manufacturing processes to achieve both cost-effectiveness and superior product quality. With automation, businesses can address challenges associated with mass production, such as maintaining quality control. Moreover, automation streamlines production, enabling large quantities of products to be manufactured in optimized timeframes with heightened accuracy. By reducing reliance on manual labor, automation also lowers overall operational costs in manufacturing, further incentivizing its adoption.

Factory Automation Market Regional Insights:

North America dominates the global factory automation market in terms of revenue, attributed to substantial investments in the power and oil & gas sectors. The region experiences a surge in the adoption of automation driven by a growing need for efficiency. Additionally, there's a rising demand for energy-efficient solutions and a concerted effort to minimize resource wastage across various industries, which presents lucrative opportunities for market players. Moreover, the presence of robust network security organizations further augments growth prospects for the factory automation industry in North America.

In 2023, Europe saw notable expansion in the factory automation market, primarily fueled by heightened demand for control systems within the oil & gas sector. The region is witnessing a rapid modernization of infrastructure in industries such as oil & gas, water & wastewater, and power, where automation plays a crucial role in analyzing drilling sites and optimizing drill speeds. However, the growth trajectory is hindered by escalating cyber-attack threats targeting critical infrastructure.

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Factory Automation Market Segmentation:

by Control & Safety System

Distributed Control System (DCS)
Supervisory Control and Data Acquisition System (SCADA)
Manufacturing Execution System (MES)
Safety Instrumented System (SIS)
Programmable Logic Controller (PLC)
Human Machine Interface (HMI)

by Component

Sensor
Controller
Switch & Relay
Industrial Robot
Drive
Others

by Industry Vertical

Automotive Manufacturing
Food & Beverage
Oil & Gas Processing
Mining
Others

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Factory Automation Market Key Players:

1. ABB Ltd
2. Emerson Electric Company
3. GE Company
4. Honeywell International Incorporation
5. Mitsubishi Electric Factory Automation
6. Omron Corporation
7. Rockwell Automation, Inc.
8. Schneider Electric SA
9. Siemens AG
10.Yokogawa Electric corporation
11.Kuka AG
12.Keyence Corporation
13.Fanuc Corporation
14.Bosch Rexroth
15.Fuji Electric Co., Ltd.
16.Endress+Hauser
17.Hitachi Ltd.

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Table of content for the Factory Automation Market includes:

1. Global Factory Automation Market: Research Methodology

2. Global Factory Automation Market: Executive Summary

• Market Overview and Definitions
• Introduction to the Global Market
• Summary
• Key Findings
• Recommendations for Investors
• Recommendations for Market Leaders
• Recommendations for New Market Entry

3.Global Factory Automation Market: Competitive Analysis

• MMR Competition Matrix
• Market Structure by region
• Competitive Benchmarking of Key Players
• Consolidation in the Market
• M&A by region
• Key Developments by Companies
• Market Drivers
• Market Restraints
• Market Opportunities
• Market Challenges
• Market Dynamics
• PORTERS Five Forces Analysis
• PESTLE
• Regulatory Landscape by region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
• COVID-19 Impact

4 . Company Profile: Key players

• Company Overview
• Financial Overview
• Global Presence
• Capacity Portfolio
• Business Strategy
• Recent Developments

Key Offerings:

• Past Market Size and Competitive Landscape (2022 to 2029)
• Past Pricing and price curve by region (2022 to 2029)
• Market Size, Share, Size and Forecast by different segment | 2022-2029
• Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by region
• Market Segmentation - A detailed analysis by growth and trend
• Competitive Landscape - Profiles of selected key players by region from a strategic perspective
• Competitive landscape - Market Leaders, Market Followers, Regional player
• Competitive benchmarking of key players by region
• PESTLE Analysis
• PORTER's analysis
• Value chain and supply chain analysis
• Legal Aspects of business by region
• Lucrative business opportunities with SWOT analysis
• Recommendations

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