Global Industrial Control & Factory Automation Market Growth Accelerates: Strategic Forecast Predicts $243.48 Billion by 2029

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What Will the Industrial Control & Factory Automation Industry Market Size Be by 2025?
The market size of industrial control & factory automation has seen a powerful surge in growth of late. Projected to rise from $160.2 billion in 2024, it is expected to hit a valuation of $172.1 billion in 2025, showcasing a compound annual growth rate (CAGR) of 7.4%. The impressive growth during the historic period can be tied to the pursuit of efficiency and cost reduction measures, embracing of distributed control system (DCS) platforms, the integration of manufacturing execution system (MES) protocols, and the use of human-machine interface (HMI) and computer numerical control (CNC).

What's the Long-Term Growth Forecast for the Industrial Control & Factory Automation Market Size Through 2029?
The market for industrial control and factory automation is anticipated to witness substantial growth over the next few years, expanding to $243.48 billion by 2029 with a compound annual growth rate (CAGR) of 9.1%. The predicted growth within this period is attributed to the adoption of smart manufacturing techniques, focus on energy efficiency, the integration of artificial intelligence and machine learning, fast-paced adoption of IoT devices, and the evolution to Industry 4.0. The forecast period sees key trends such as remote and smart manufacturing, a focus on energy efficiency and sustainability, approaches towards predictive maintenance, implementation of edge computing in automation, and the introduction of cybersecurity measures.

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What Are the Key Growth Drivers Fueling the Industrial Control & Factory Automation Market Expansion?
The rise of interconnected businesses is anticipated to fuel the expansion of the industrial control and factory automation sector in the future. These types of enterprises, which utilize IoT technology to digitize all business operations, can enhance operational efficiency. Automating business processes is a critical component of creating connected businesses, as it allows factories to function with fewer unskilled resources, enabling the organization to allocate these resources towards the implementation of cutting-edge technologies and digital systems. For example, in June 2023, the Australian Bureau Of Statistics, a government organization based in Australia, revealed that around a third (31%) of businesses had a 5G mobile wireless internet connection during the year ending 30 June 2022, demonstrating an increase from preceding years. As such, the growth in the number of connected enterprises is leading to an increase in the industrial control and factory automation market.

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What Are the Key Trends Driving Industrial Control & Factory Automation Market Growth?
Leading firms in the field of industrial control and factory automation are centering their efforts on creating pioneering goods for industrial automation. These ventures are targeted towards boosting operational productivity, minimizing equipment downtime, enhancing accuracy, and catering to the rising demand for advanced, smart manufacturing solutions. The RCS series is one such product line innovatively addressing the recurrent hitches faced during the installation, calibration, and upkeep of industrial robotic systems. For instance, in May 2023, Renishaw, an engineering firm based in the UK, introduced into the industrial automation market focused on ameliorating the setup and upkeep of robots. The product line of RCS comprises the RCS L-90, RCS T-90, and RCS P-series, all developed to elevate the precision of operations and cut down on setup periods. Leveraging avant-garde software for surveillance and diagnostic purposes, these goods tackle the prevailing issues concerning robot performance.

How Is the Industrial Control & Factory Automation Market Segmented?
The industrial control & factory automationmarket 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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Which Companies Are Leading the Charge in Industrial Control & Factory Automation Market Innovation?
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.

Which Regions Are Leading the Global Industrial Control & Factory Automation Market in Revenue?
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

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