Industrial Control and Factory Automation Market – Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028, Segmented By Component (Sensors, Control Values, Switches & Relays, Industrial Robots, Others), By Industrial Control Systems (Distributed Control System (DCS), Programmable Logic Controller (PLC), Supervisory Control and Data Acquisition (SCADA), Product Lifecycle Manageme
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: ICT | Format: Report available in PDF / Excel Format
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Global industrial control and factory automation market is predicted to proliferate during the forecast period due to the rapid growth in of the E-Commerce Industry. Industrial control and factory automation is the incorporation of automating inventory movement, machinery, and process from end-to-end manufacturing processes with the least amount of human intervention and controlled by autonomous systems. During an automation project, a company can get rid of labor-intensive tasks during manufacturing that need repeated physical labor, manual data input, and analysis. In addition, to avoid manual operations and expedite order selection procedures, warehouses deploy highly automated technology for more complicated products handling flows, comprising conveyors, automatic sorters, AGVs (Automated Guided Vehicles), a robotic picking system, and automatic palletizers. The companies are progressively using this technology to reduce handling and storage costs, human error, enhanced data accuracy and analysis, reduced stockout events, improved customer service, and order fulfilment accuracy. Numerous innovations carried out in empowering the factory with automation technology such as cobotics, warehouse drones, and wireless fleet management and supply chain as a service are helping service providers to offer an effective solution to the enterprises that are enhancing the features of industrial control and factory automation.
Increasing Growth of the E-Commerce Industry
comscore, the digital e-commerce market in 2022 hit around USD 1.09 trillion in the US.
Government Initiatives to Promote Industrial Automation
The government of various countries are expressing the intention to support business and science to ensure healthy economic development. The structural development of the manufacturing sector depends upon the adoption of advanced communication and Industrial automation technologies. For instance, to harness the growing demand from consumers and requirement of enhancing the capabilities of industrialization, the Indian government has launched Make in India initiative, production linked incentive (PLI) scheme to encourage domestic production. Moreover, the country has recently unveiled a national logistics policy (NLP) in an attempt to establish a multi-jurisdictional framework for growing the logistics industry. Moreover, to foster smart manufacturing facilities, the Government of Korea has laid out several initiatives to roadmap several areas of R&D projects, establishment of Smart Factory Standard Research Council, and promote the conglomeration for accelerating the manufacturing automation solutions to bolster productivity and profitability and reduce costs across the supply chain. Furthermore, several initiatives in different countries such as Singapore’s Integrated Robotics and Automation Solutions Initiative, the US national strategy for advanced manufacturing and many more are exhibited to further stimulate the global industrial control and factory automation market during the forecast period.
Growing Use of Robotics in Warehousing is Stimulating the Market Growth
according to the association for advancing automation (A3), robot sales hit a new record in North America with 12,305 robots sold in Q2 2022, a 25% increase in unit orders over the same period in 2021
Growing use of Internet of Things (IoT) in Industrial Automation
The unprecedent growth of IoT, AI, and industrial automation technology with IoT-based predictive maintenance and IoT-based asset monitoring solutions and varied technology connectivity is proving to be a game changer for automation companies and has enabled potential opportunities. The growing use has altered the workload flexible and found at, streamlined industrial systems, and improved data automation, with the aim of removing errors and inefficiencies with cost reduction capability in various manufacturing industries. Data captured by IoT devices connecting different assets and systems enable businesses to predict, plan, and take proactive steps for any events such as parts repair or equipment failure before it occurs. The implementation of IoT in the automation of industries is gaining transition with the advantages of better customer experience (CX), increasing operational efficiency, opening new path for business opportunities, and reduce operational costs. Moreover, IoT-based predictive maintenance makes use of IoT technologies to analyze a production system in real time and anticipate potential causes of malfunction in its parts.
For instance, based on the state of IoT-Spring 2022 report, the number of connected IoT devices grew by 18% from 12.2 billion to 14.4 billion globally
Recent Advancements
- On April 10, 2023, Rockwell Automation Inc., a global leader in industrial automation and digital transformation announced the launch of FactoryTalk Optix in the Asia-Pacific region. A contemporary human-machine interface (HMI) platform, FactoryTalk Optix is designed to help improve processes and efficiency enabling users to build, test, and deploy applications straight from a web browser, aiding industrial organizations transform their automation design capabilities.
- On March 22, 2023, Mitsubishi Electric Corporation, a world leader in the manufacturing, marketing, and sales of electrical and electronic equipment, announced the launch of free mobile application Factory Automation SPEC Search. The application is available for iOS and Android platforms for searching, comparing factory, support, automation products, including computerized numerical controllers (CNCs), selected human-machine interfaces (HMIs), electrical discharge machines (EDMs), and industrial and collaborative robots.
- On August 18, 2022, Honeywell, an industrial control, and factory automation company in collaboration with University Politehnica of Bucharest announced the development of industrial automation lab. The State-of-the art industrial automation lab enables University Politehnica of Bucharest’s Department of Automation and Computer Science students to build the technical skills and knowledge to join, compete, and succeed in the global industrial automation sector.
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Market Segmentation
The global industrial control and factory automation market is segmented into component, industrial control systems, and application. Based on component, the market is segmented into sensors, control values, switches & relays, industrial robots, and others. Based on industrial control systems, the market is segmented into distributed control system (DCS), programmable logic controller (PLC), supervisory control and data acquisition (SCADA), product lifecycle management (PLM), human machine interface (HMI), and others. Based on application, the market is segmented into automotive, aerospace & defense, food & beverage, chemical, energy & utilities, healthcare, oil & gas, transportation, E-Commerce, and others.
Company Profiles
Schneider Electric SE, Rockwell Automation Inc., Honeywell International Inc., ABB Limited, Siemens AG, Robert Bosch GmbH, Emerson Electric Company, Yokogawa Electric Corporation, Omron Corporation, and Mitsubishi Electric Corporation are among the major players that are driving the growth of the global industrial control and factory automation market.
| Attribute | Details |
| Base Year | 2022 |
| Historical Years | 2018 – 2021 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Billion and CAGR for 2018-2022 and 2023E-2028F |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | By Component By Industrial Control Systems By Application By Region |
| Regional Scope | Asia-Pacific, North America, Europe, Middle East & Africa, and South America |
| Country Scope | China, Japan, India, Australia, South Korea, United States, Canada, Mexico, United Kingdom, Germany, France, Spain, Italy, Israel, Turkey, Saudi Arabia, UAE, South Africa, Brazil, Argentina, and Colombia |
| Key Companies Profiled | Schneider Electric SE, Rockwell Automation Inc., Honeywell International Inc., ABB Limited, Siemens AG, Robert Bosch GmbH, Emerson Electric Company, Yokogawa Electric Corporation, Omron Corporation, and Mitsubishi Electric Corporation |
| Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
| Pricing and Purchase Options | Avail of customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
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