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Emerging Trends Influencing The Growth Of The Industrial Control & Factory Automation Market:Product Innovation Gaining Popularity In Industrial Control And Factory Automation Market
Industrial Control & Factory Automation
What Is the Projected Growth of the Industrial Control & Factory Automation Market?
The market size of industrial control & factory automation has seen substantial growth in the past few years. The market, which was valued at $160.2 billion in 2024, is projected to reach $172.87 billion in 2025, with a compound annual growth rate (CAGR) of 7.9%. The significant growth during the past was driven by objectives of efficiency improvement and cost reduction, the uptake of DCS systems, the integration of MES systems, as well as the utilization of human-machine interface (HMI) and computer numerical control (CNC).
Projected expansion trends in the industrial control & factory automation market highlight a robust growth trajectory in the coming years, with a valuation of $246.29 billion by 2029 and a Compound Annual Growth Rate (CAGR) of 9.3%. This marked increase can be associated with advancements in smart manufacturing protocols, a focus on energy utilization efficiency, and the incorporation of artificial intelligence and machine learning. The swift uptake of IoT devices and progress in the realm of industry 4.0 further energize this growth. Key trend forecast for the period include remote and smart manufacturing procedures, emphasis on energy efficiency and sustainability, implementation of predictive maintenance tactics, the incorporation of edge computing in automation processes, and enhanced cybersecurity measures.
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What Are the Emerging Segments Within the Industrial Control & Factory Automation Market?
The industrial control & factory automation market covered in this report is segmented -
1) By Component: Industrial Robots, Machine Vision System, Process Analyzer, Field Instruments, Human-Machine Interface (HMI), Industrial PC, Industrial Sensors, Industrial 3D Printing, Vibration Monitoring, Other Components
2) By Solution: Distributed Control System (DCS), Supervisory Control And Data Acquisition (SCADA), Programmable Logic Controller (PLC), Manufacturing Execution System (MES), Product Life Cycle Management (PLM), Plant Asset Management (PAM), Functional Safety
3) By Industry: Process Industry, Discrete Industry
Subsegments:
1) By Industrial Robots: Articulated Robots, SCARA Robots, Collaborative Robots (Cobots), Cartesian Robots
2) By Machine Vision System: 2D Machine Vision Systems, 3D Machine Vision Systems, Smart Cameras, Vision Sensors
3) By Process Analyzer: Gas Analyzers, Liquid Analyzers, Multi-Parameter Analyzers
4) By Field Instruments: Flow Meters, Pressure Transmitters, Temperature Sensors, Level Sensors
5) By Human-Machine Interface (HMI): Touchscreen HMIs, Software-Based HMIs
6) By Industrial PCs: Rack-Mounted Industrial PCs, Panel PCs, Embedded Industrial PCs
7) By Industrial Sensors: Proximity Sensors, Temperature Sensors, Pressure Sensors, Vibration Sensors
8) By Industrial 3D Printing: Additive Manufacturing Systems, 3D Printers For Prototyping, Industrial 3D Printing Materials
9) By Vibration Monitoring: Portable Vibration Analyzers, Online Vibration Monitoring Systems, Vibration Sensors
10) By Other Components: Programmable Logic Controllers (PLCs), Drives And Motors, Networking Equipment
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What Long-Term Drivers Are Shaping Industrial Control & Factory Automation Market Trends?
The rise of interconnected businesses is anticipated to fuel the expansion of the industrial control and factory automation market in the future. These are companies that have digitalized all business procedures utilizing IoT technology to enhance operations. Automating business processes is a crucial step in creating connected enterprises as it equips factories to function with less unskilled manpower and enables the company to employ these resources for the adoption of advanced technologies and digitalization systems. For example, in June 2023, as per the Australian Bureau Of Statistics, a government agency based in Australia, nearly one-third (31%) of businesses acknowledged having a 5G mobile wireless internet connection during the year concluding on 30 June 2022, a rise from prior years. Thus, the growing prevalence of connected enterprises is propelling the enlargement of the industrial control and factory automation market.
Who Are the Top Competitors in Key Industrial Control & Factory Automation Market Segments?
Major companies operating in the industrial control & factory automation market include ABB Ltd., Emerson Electric Co., Siemens AG, Schneider Electric SE, Mitsubishi Electric Corporation, General Electric Company, Rockwell Automation Inc., Honeywell International Inc., Yokogawa Electric Corporation, Omron Corporation, Endress+Hauser Group, FANUC Corporation, WIKA Alexander Wiegand SE & Co KG, Dwyer Instruments Inc., Azbil Corporation, Krohne Group, Fuji Electric Co Ltd., Hitachi Ltd., VEGA Grieshaber KG, Inxpect SPA, Yaskawa America Inc., Roboze SPA, Seiko Epson Corporation, Advantech Co Ltd., RS Americas Inc., Applied Materials Inc., Aspen Technology Inc., Beckhoff Automation GmbH & Co KG, Bosch Rexroth AG, Cognex Corporation, Danaher Corporation, Delta Electronics Inc.
What Industrial Control & Factory Automation Market Trends Are Gaining Traction Across Different Segments?
Major businesses in the domain of industrial control and factory automation are concentrating on creation of pioneering products for industrial automation, with the objective to improve operational efficiency, minimize downtime, and enhance precision. They are also striving to cater to the growing market for intelligent manufacturing solutions. This novel product line, the RCS series, was conceptualized to deal with regular issues encountered in industrial robot setup, calibration, and maintenance. For illustration, in May 2023, the UK-based engineering firm, Renishaw, launched its contribution to the industrial automation market with a focus on facilitating robot setup and maintenance. The RCS product portfolio includes the RCS L-90, RCS T-90, and RCS P-series, which are built to advance operational precision and trim down setup durations. With the help of sophisticated software for supervision and diagnostic purposes, these products strive to overcome prevalent issues in robot performance.
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Which Regions Are Becoming Hubs for Industrial Control & Factory Automation Market Innovation?
Asia-Pacific was the largest region in the industrial control & factory automation market share in 2024. The regions covered in the industrial control & factory automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Industrial Control & Factory Automation Market?
2. What is the CAGR expected in the Industrial Control & Factory Automation Market?
3. What Are the Key Innovations Transforming the Industrial Control & Factory Automation Industry?
4. Which Region Is Leading the Industrial Control & Factory Automation Market?
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