DUBLIN, November 17, 2022 /PRNewswire/ — The “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, EuropeAPAC, RoW) – Global Forecast to 2027″ report has been added to from ResearchAndMarkets.com offer.


Industrial control and factory automation market size is expected to grow from $147.9 billion in 2022 at $218.8 billion by 2027; it is expected to grow at a CAGR of 8.2% from 2022 to 2027. Major factors driving the growth of the industrial control and factory automation market are increasing number of government initiatives to promote industrial automation and the increasing integration of technologies such as IoT and AI. with various industrial control and factory automation solutions. The growing use of automation in process and discrete industries is another major factor contributing to the growth of the industrial control and factory automation market.

Industrial sensors held the largest share and industrial robots held the second largest share in 2021

Sensor technology has developed tremendously over the past decade. The growing requirement for connectivity in manufacturing plants has encouraged manufacturers to adopt advanced sensors to capture data at various data points. Sensor manufacturers continuously focus on developing advanced solutions to help end users improve production efficiency. Industrial robots are reshaping the manufacturing industry by reducing the need for physical labor. They are used in industrial facilities to increase productivity and eliminate errors. These robots are suitable for use in remote locations. The use of automated robots in the industrial production line reduces time, cost and waste and leads to the development of precise and high quality products.

DCS accounted for the dominant share and PLC accounted for the second largest share of the industrial control and factory automation market in 2021

DCS enables process automation and control in industrial manufacturing plants. it facilitates integrity in decisions, simplified operations and increased productivity. The main areas of application for DCS are the oil and gas, automotive, chemical, food and pharmaceutical industries. Among the process industries, the food and beverage industry is expected to account for the largest PLC industrial control and factory automation market size over the forecast period. The growth of this segment can be attributed to the implementation and adherence to strict standards to meet the changing demands of the market.

The metals and mining industry is expected to register the highest growth rate in the process industry segment of the industrial control and factory automation market during the forecast period

The metalworking industry includes various metalworking processes, such as grinding, milling, spinning, and forging. Machines used in metal processing require fast, precise and efficient movement of metals, which is carried out by drives and programmable logic controllers. The adoption of automation in the mining and metals industry has improved productivity, increased safety, reduced wear and improved reliability and product quality. Workforce safety is always the top priority in mining operations. Therefore, regulatory authorities around the world have established strict rules and regulations for mine owners to ensure mine safety. These strict regulations force mining companies to adopt industrial control and factory automation technologies, which can help them predict and try to prevent an accident in advance.

Market dynamics
Drivers

  • Emergence of connected companies
  • Government initiatives to promote industrial automation
  • Adoption of IoT and AI in Industrial Environments
  • Focus on optimal use of resources and improved efficiency
  • Increasing Integration of Machine Vision Systems with Deep Learning

Constraints

  • Large initial capital investment and subsequent investment for maintenance
  • Fluctuations in end-use industries
  • Inability of components to achieve human performance
  • Lack of awareness of benefits

Opportunities

  • Adopting Industry 4.0 principles for manufacturing
  • Increased demand for security compliance automation solutions
  • Growing need for augmented reality and virtual reality technologies

Challenges

  • Lack of standardization in industrial communication protocols and interfaces
  • Lack of skilled labor to operate industrial automation devices and systems
  • Increase in instances of automated cyberattacks
  • Less accurate systems due to differences between simulations and real life
  • Complexity of deploying industrial control and factory automation solutions

Main topics covered:

1. Introduction

2 Research methodology

3 Executive summary

4 premium previews

5 Market Overview

6 Industrial Control and Factory Automation Market, By Component

7 Industrial Control and Factory Automation Market, By Solution

8 Industrial Control and Factory Automation Market, By Industry

9 Industrial Control and Factory Automation Market, by Region

10 Competitive Landscape

11 company profiles

12 adjacent and related markets

13 Appendix

Companies cited

  • ABB
  • Emerson
  • Siemens
  • Schneider-Electric
  • Electric Mitsubishi
  • General Electricity Company.
  • Rockwell Automation
  • Honeywell
  • Yokogawa Electric Corporation
  • Omron Company
  • Endress+Hauser
  • Fanuc Corporation
  • Wika GmbH
  • Dwyer Instruments
  • Stratasys
  • 3D Systems Society
  • Fuji Electric
  • Hitachi
  • Kröhne
  • Azbil Company
  • Vega Grieshaber
  • Danfoss
  • Tegan Innovations
  • Win software
  • Identify information systems
  • Progea
  • First Chaos
  • Unexpected SPA
  • Algolux
  • intuitive
  • eaves
  • canary
  • Fuels
  • Ultimaker
  • Nano dimension
  • Deep learning robotics
  • Choose it D
  • Onrobot
  • Trivision
  • Clevest

For more information on this report, visit https://www.researchandmarkets.com/r/rddmwb

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SOURCE Research and Markets

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