Industrial Control & Factory Automation Market 2027 Opportunity Abounds Business Insights and Growth Factors

The Industrial Control And Factory Automation Market is anticipated to grow substantially, increasing from USD 147.9 billion in 2022 to an estimated USD 218.8 billion by 2027, with a projected Compound Annual Growth Rate (CAGR) of 8.2%. This growth is attributed to several factors, including the growing need for predictive maintenance applications, a rising demand for the integration of Artificial Intelligence (AI) and the Internet of Things (IoT) in industrial settings, and various governmental initiatives worldwide fostering industrial automation.

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Predictive Asset Maintenance (PAM) is anticipated to exhibit the highest growth rate, with Manufacturing Execution Systems (MES) following closely during the forecast period.

PAM solutions empower users to anticipate potential production failures well in advance, providing real-time corrective actions. Widely adopted in sectors such as oil & gas and energy & power, PAM solutions offer predictive and proactive maintenance approaches, significantly enhancing accuracy. MES facilitates cost savings, operational improvements, and efficient management of production assets throughout the supply chain. With quantifiable enhancements in production and efficiency, MES adoption is expected to rise across diverse industries, attracting attention for its potential benefits in supplier and inventory management.

In discrete industries, the medical device sector is poised for the highest growth in the forecast period.

Fueled by continuous innovations and technological advancements in healthcare, the medical device industry experiences significant growth. Manufacturers within this sector are embracing innovative solutions to optimize manufacturing processes and operational efficiency, thereby driving increased adoption of industrial control and factory automation solutions.

The Asia Pacific region dominates the industrial control and factory automation market, holding the largest share and expected to witness significant growth from 2022 to 2027. This growth is attributed to concerted efforts to enhance the region's manufacturing sector through innovative practices and automation technologies. Collaborations between research institutes and corporations in countries like China and Japan aim to improve manufacturing processes across industries. Notably, Japan is intensifying its focus on advanced and precise automation solutions, particularly in consumer electronics, semiconductors, automotive, and food & beverage industries, to stay competitive. The adoption of manufacturing robots, sensors, wireless technologies, and machine vision systems is transforming factories into smart facilities, contributing to the expanding industrial control and factory automation market in Japan.

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Key players in this Industrial Control and Factory Automation Market

• ABB (Switzerland)
• Emerson (US)
• Siemens (Germany)
• Schneider Electric (France)
• Mitsubishi Electric (Japan)
• Yokogawa Electric Corporation (Japan)
• Endress+Hauser (Switzerland)
• Honeywell (US)
• Rockwell Automation (US)
• General Electric (US)

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This release was published on openPR.