Factory Automation Market was valued at USD 268.46 Billion in 2021, and is expected to reach USD 531.01 Billion by 2029, exhibiting a CAGR of 8.9 % during the forecast period (2022-2029).
Factory Automation Market Overview
Most comprehensive market report published by Maximize Market research provides an extensive regional analysis and competitive landscapes of the Factory Automation market. The growth of the Factory Automation Market is expected in forecast period. The report provides the key insights of the market equipped with a detailed regional, demand and competitor analysis.
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Market Scope
The intelligence report on the Factory Automation market gives in depth analysis of the market and the significant drivers that are driving the market growth. To understand the Factory Automation market the report presents the drivers, challenges, restraints and opportunities prevailing the Factory Automation market. The report covers current and future trends to help investors understand the opportunities and challenges in upcoming forecast period. The report is equipped with a competitive analysis of the Factory Automation market.
The key players and new entrants are studied and analysed by region, revenue, financial status, portfolio, technological advancements adopted, social media presence, mergers and acquisitions, joint ventures and strategic alliances. This kind of analysis guide the stakeholders, investor, market players and followers and the new entrants with overall view of the Factory Automation market for formulating investment approaches and marketing tactics.
Market Dynamics
As it combines information technology with machines and systems to create smart manufacturing infrastructure, industrial automation is becoming more and more in demand across a range of industries. It provides repeatable & consistent results with improved product quality while standardising the manufacturing process. Additionally, the use of factory automation has decreased the amount of human involvement in industrial processes, which has reduced human error and associated issues.
Segmentation
Supervisory control & data acquisition (SCADA), which dominated the factory automation market in 2021 based on Control & Safety System, is anticipated to expand at a CAGR of 9.1% over the course of the forecast period. An industrial process automation system called supervisory control and data acquisition (SCADA) is used to gather data from instruments and equipment at remote and in-plant locations. This system collects, transmits, and controls data as well as monitors and controls process inputs and outputs.
Industrial Robots, which dominated the factory automation market in 2021 based on component, is anticipated to expand at a CAGR of 6.4% over the course of the forecast period. Industrial robot demand is primarily seen in the automotive and heavy engineering sectors. Also increasing demand for industrial robots is the need for smart production in unconventional fields like microelectronics. The need for industrial robots to perform crucial tasks quickly and safely at the workplace has increased, and this is due in part to the heavy engineering sector.
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Key Players
• ABB Ltd
• Emerson Electric Company
• GE Company
• Honeywell International Incorporation
• Mitsubishi Electric Factory Automation
• Omron Corporation
• Rockwell Automation, Inc.
• Schneider Electric SA
• Siemens AG
• Yokogawa Electric corporation
• Kuka AG
• Keyence Corporation
• Fanuc Corporation
• Bosch Rexroth
• Fuji Electric Co., Ltd.
• Endress+Hauser
• Hitachi Ltd.
Regional Analysis
The report gives in depth analysis of the Factory Automation market with specified and dominating regions and specifies the regions that are expected to grow in forecasted period. The government initiatives also boost the market growth in some regions. The research include an evaluation of regional and local market participants operating in the target market. On global basis the research evaluates the market in North America, Latin America, Europe, Asia Pacific, Africa, and the Middle East. The report delves the regional market for the discovering the regional market trends, constraints and growth potential.
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About Maximize Market Research:
Maximize Market Research is a multifaceted market research and consulting company with professionals from several industries. Some of the industries we cover include medical devices, pharmaceutical manufacturers, science and engineering, electronic components, industrial equipment, technology, and communication, cars, and automobiles, chemical products and substances, general merchandise, beverages, personal care, and automated systems. To mention a few, we provide market-verified industry estimations, technical trend analysis, crucial market research, strategic advice, competition analysis, production and demand analysis, and client impact studies.
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Mar 08, 2023
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