Chicago, Nov. 08, 2022 (GLOBE NEWSWIRE) — The report “Industrial Control and Factory Automation Market by Component, Solution (SCADA, PLC, DCS, MES, Industrial Security, PAM), Industry (Process Industry and Discrete Industry) and Region (North America, Europe, APAC, RoW) – Global Forecast to 2027″The increasing need for predictive maintenance applications, the growing demand for AI and IoT integration in industrial environments, and the growing number of initiatives by governments around the world to promote the growth of industrial automation are the major factors driving the industrial control and factory automation market.
“[342 Pages Report] The global industrial control and factory automation market size is estimated to be USD 147.9 billion in 2022 and is projected to reach USD 218.8 billion by 2027, growing at a CAGR of 8.2%.
The key players in the Industrial Control and Factory Automation Market
Rockwell Automation (USA),
Schneider Electric (France) among others
ABB focuses on partnerships, acquisitions and product launches for growth. In April 2022, ABB signed a partnership agreement with Samsung Electronics to innovate holistic energy management solutions to drive the growth of smart building technology. The development aims to enable ABB to expand customer access to home automation technologies and device management solutions. In the area of robotics, the company has entered into a partnership with ETH Zurich for the latter’s RobotX robotics research initiative. The partnership will not only help position ETH as a leading robotics research institution, but will also boost ABB’s research and development efforts to innovate industrial robots and stay ahead of the market.
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Browse the in-depth table of contents at “ Industrial control and industrial automation industry“
300 – Tables
66 – Numbers
342 – Pages
Siemens devotes a significant portion of its revenues to research and development activities. For example, it spent 7.8%, 8.3%, and 8.0% of its overall revenue on research and development activities in 2021, 2020, and 2019, respectively. In 2022, the company acquired Senseye, a leading global provider of AI-powered solutions for industrial machine performance and reliability. This acquisition will allow Siemens to expand its predictive maintenance and asset intelligence portfolio. The acquisition of Atlas 3D, Inc. aims to expand the company’s additive manufacturing/industrial 3D printing offerings in the industrial control and factory automation market.
Schneider-Electric implements multiple strategies, including partnerships and geographic expansions to maintain its financial performance. In 2021, Schneider Electric entered into a partnership with Prisma Photonics, a next-generation fiber sensing provider for smart infrastructure. The company is constantly expanding into global markets. Currently, it is present in more than 100 countries in North America, Western Europe, Asia-Pacific and the rest of the world. The company’s broad presence enables it to introduce customer-centric products and solutions in each country based on local needs and sentiments. Its growing global footprint ensures that the company is not overly dependent on one market for revenue generation, reducing the risk of operating in a highly volatile industry.
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Industrial Control and Factory Automation Market Dynamics
DRIVERS: Government initiatives to promote industrial automation
All over the world, governments are supporting the development of industries to ensure the holistic development of their countries. This has led to the adoption of various automation and communication components and technologies for the structural development of industries. Governments are focusing on expanding processing and discrete industries. For example, the Singapore government has partnered with various associations such as the Singapore Food Manufacturing Association (SFMA) and the Food Innovation Resource Center to adopt the latest automation solutions such as SCADA, PLC, DCS, robots and cables in the food industry and the beverage industry. The Government of India’s National Manufacturing Policy (NMP) is driving the development of the country’s manufacturing sector. The Indian government has also launched initiatives, such as the Make in India policy, to encourage companies to implement automation in their manufacturing plants.
RETAINED: Fluctuations in end-use industries
According to the BP Statistical Review of World Energy 2021, the price of oil averaged $41.84/bbl in 2020, which is the lowest since 2004. World oil consumption fell by a record 9, 1 million barrels per day (bpd) or 9.3% , the lowest since 2011. Oil demand fell in major economies such as the United States, the entire European Union (EU ) and India. World oil production fell by 6.6 million bpd. As a result, refinery utilization fell by a record 8.0 percentage points to 74.1%, the lowest since 1985. There is a growing shortage of semiconductor chips in the market, mainly due to the ongoing trade war between the United States and China, which negatively affects the manufacturing of various products and equipment, including electronic products. Other major geopolitical events such as the Russian-Ukrainian war and the relocation of major manufacturing centers from China to other countries disrupted the entire supply chain.
Field instruments and other factory automation solutions are widely used in industries such as oil and gas and semiconductors and electronics for multiple applications including measurement of process parameters such as oil and gas pressure, level and flow; thus, any effect on the global petroleum and semiconductor market is consequently expected to impact the growth of the industrial control and factory automation market.
OPPORTUNITIES: Adoption of Industry 4.0 manufacturing principles
The industrial control and factory automation market is growing rapidly due to the adoption of Industry 4.0 principles in manufacturing, petroleum gas, food and drinks, chemical and automotive. Most processes and systems in the manufacturing sector are automated with the adoption of Industry 4.0, which allows production units to operate 24/7 without any human error. This reduces the total production cycle time and maintains the quality of the processes, from the raw material sourcing stage to the development of the final products. Machines deployed in manufacturing plants can be operated and controlled by automation solutions such as SCADA, HMI, DCS and PLC.
Industry 4.0 is a combination of cyber-physical systems, IoT and cloud computing. It supports the manufacturing industry by enabling remote manufacturing operations, as well as intelligent real-time data collection. Industry 4.0 enables improved operational efficiency, productivity, product quality, asset utilization, supply chain management, workplace safety and environmental sustainability. Thus, the adoption of Industry 4.0 principles for automation in a number of industries is expected to create lucrative opportunities for market players over the forecast period.
CHALLENGES: Lack of skilled labor to operate industrial automation devices and systems
Only qualified personnel can operate industrial automation devices and systems because the complexity of manufacturing processes can be misinterpreted by unqualified personnel, leading to errors and failures. Limited availability of appropriate content, human resources and financial resources; usability issues; and technical difficulties can impede the operation of industrial automation devices. Thus, the lack of expertise acts as a barrier to the adoption of automation in many industries. It also acts as a challenge for the growth of the industrial control and factory automation market.
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