Global Industrial Control & Factory Automation Market: Overview
It is estimated for the Global Industrial Control & Factory Automation Market to witness growth at a CAGR of 13.7% during the forecast period of 2022 to 2030. The market witnessed the growth at a CAGR of 10.8% during the forecast period of 2018 to 2021. Industrial control system (ICS) is a collective term used to describe different types of control systems and associated instrumentation, which include the devices, systems, networks, and controls used to operate and automate industrial processes.
Global Industrial Control & Factory Automation Market Growth Factors
The growing number of population is leading to the growth in the consumption of the products and this is leading to the growth in the demand of the product and thus leading to the manufacturing of a more number of products in lesser time through the means of automation and this factor is estimated to boost the growth of the market during the forecast period. Apart from this, the growing number of factories around the globe is also a factor that is driving the growth of the market during the forecast period. Also, the growth in the R&D developments with respect to robotics is also a factor that is boosting the growth of the market during the forecast period. However, the growing cost that is attached with the R&D developments is estimated to hamper the growth of the market during the forecast period.
Global Industrial Control & Factory Automation Market Market Trends
The growing number of population is leading to the growth in the consumption of the products and this is leading to the growth in the demand of the product and thus leading to the manufacturing of a more number of products in lesser time through the means of automation and this factor is estimated to boost the growth of the market during the forecast period.
Apart from this, the growing number of factories around the globe is also a factor that is driving the growth of the market during the forecast period.
However, the growing cost that is attached with the R&D developments is estimated to hamper the growth of the market during the forecast period.
Global Industrial Control & Factory Automation Market Segmentation
The Global Industrial Control & Factory Automation Market has been sub-classified into component type and solution type and industry type.
By Component
Industrial Robots
Machine Vision System
Process Analyser
Field Instruments
HumanMachine Interface (HMI)
Industrial PC
Industrial Sensors
Industrial 3D Printing
Vibration Monitoring
Others
By Solution
Supervisory Control and Data Acquisition (SCADA)
Programmable Logic Controller (PLC)
Distributed Control System (DCS)
Manufacturing Execution System (MES)
Industrial Safety
Plant Asset Management (PAM)
By Industry
Process Industry
Discerete Industry
Global Industrial Control & Factory Automation Market Regional Analysis
It is estimated for the region of US to drive the growth of the market during the forecast period. The growing in the technological advancements in the food sector in the region is estimated to foster the growth of the market during the forecast period. The region of Europe is estimated to witness growth at a healthy rate during the forecast period. The Asia Pacific region is also estimated to witness a notable growth rate in the market.
Global Industrial Control & Factory Automation Market Key Market players
ABB Ltd, Emerson Electric Co, Siemens AG, Mitsubishi Electric Corporation, Rockwell Automation, Inc. and Others are the major players that are boosting the growth of the market during the forecast period.
