Factory Automation Market
The Global Factory Automation Market is estimated to reach a CAGR of 8.1% during the forecast period 2024-2031.
The Global Factory Automation Market refers to the use of advanced technologies, control systems, and robotics to operate manufacturing processes with minimal human intervention. It aims to boost productivity, improve quality, reduce operational costs, and enhance workplace safety. This market includes solutions like industrial robots, sensors, and software that help streamline production and maintain efficiency in modern factories.
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Market Drivers and Opportunities:
The acceleration of Industry 4.0 initiatives has led manufacturers to embrace automation solutions that enhance productivity, reduce operational costs, and ensure consistent product quality. The integration of IIoT enables real-time monitoring and predictive maintenance, minimizing downtime and optimizing resource utilization. Additionally, the rising demand for mass customization and the need to address labor shortages are compelling industries to invest in advanced automation technologies.
Market Segmentation:
The factory automation market is segmented by component, solution, end-user, and region.
By Type: Fixed Automation, Programmable Automation, Flexible Automation, Integrated Automation, Others.
By Component: Vision Machines, Industrial Robots, Control Valves, Field Instruments, Human-Machine Interface (HMI), Industrial PC, Sensors, Others.
By Solutions: Supervisory Control and Data Acquisition (SCADA), Programmable Logic Controllers (PLC), Distributed Control Systems (DCS), Manufacturing Execution Systems (MES), Product Lifecycle Management (PLM), Functional Safety, Plant Asset Management (PAM), Others.
By End-User: Oil & Gas, Chemicals, Paper & Pulp, Pharmaceuticals, Mining & Metals, Food & Beverages, Energy & Power, Automotive, Electronics & Semiconductors, Aerospace and Defense, Medical Devices, Others.
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Key Players and Recent Developments:
ABB Ltd.
ABB continues to innovate in robotics and automation technologies, focusing on collaborative robots and AI-driven solutions to enhance manufacturing efficiency.
Siemens AG
Siemens is investing in digital industries, offering comprehensive automation solutions that integrate hardware and software for optimized industrial operations.
Rockwell Automation Inc.
Rockwell Automation has reported a surge in new orders, particularly in e-commerce and parcel-handling automation, reflecting the growing demand for flexible manufacturing solutions.
Emerson Electric Co.
Emerson has launched the AVENTICS DS1 sensor, which monitors dew point, temperature, humidity, and gas quality in real-time, enhancing pneumatic system reliability.
Mitsubishi Electric Corporation
Mitsubishi Electric is expanding its portfolio with advanced factory automation equipment, emphasizing energy efficiency and precision control.
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Recent Developments:
In October 2021, Taiwan-based Techman Robot Inc., a leader in collaborative robotics, secured an investment from OMRON Corporation. This partnership aims to fuse Techman’s advanced cobot technology with OMRON’s expertise in industrial automation, paving the way for innovative robotic solutions tailored for smarter manufacturing.
In January 2022, German robotics giant KUKA signed a major deal with Ford Otosan, Ford’s Turkish subsidiary, to supply 700 industrial robots. These robots will play a crucial role in the production of electric vehicles (EVs) at Ford’s state-of-the-art manufacturing plant in Kocaeli, Turkey, underscoring the shift toward automation in sustainable vehicle manufacturing.
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