Industrial Control & Factory Automation Market Size
Shaping the Future of Industrial Efficiency with a Projected Growth of $246.29 Billion by 2029
What Is The Projected Market Size Of The Global Industrial Control & Factory Automation Market And Its Growth Rate?
The industrial control & factory automation market has observed significant growth and is projected to maintain this trajectory:
– The market size stood at $160.2 billion in 2024
– It’s expected to reach $172.87 billion in 2025, with a CAGR of 7.9%
– A robust growth to $246.29 billion by 2029 is forecasted, at a CAGR of 9.3%
– The historic growth has been driven by an integrated approach towards DCS systems, MES systems, HMI, and CNC.
– The future growth can be attributed to smart manufacturing practices, energy efficiency, artificial intelligence and machine learning integration, and continued adoption of IoT devices as part of the industry 4.0 evolution.
What Is Driving The Growth In The Industrial Control & Factory Automation Market?
The industrial control and factory automation market’s growth is largely driven by the rise of connected enterprises. These enterprises utilize IoT technology to digitalize business processes and improve operations. Automating business processes is essential to allow factories to operate with fewer unskilled resources and utilize these resources for adopting advanced technologies and digital systems. Such adoption is evident in a report from the Australian Bureau Of Statistics, stating a 31% increase in businesses having a 5G mobile wireless internet connection in 2022 compared to previous years. This continued rise of connected enterprises is expected to fuel the growth of the industrial control and factory automation market.
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Who Are the Key Players Driving Industrial Control & Factory Automation Market Growth?
Key companies playing a major role in the industrial control & factory automation market growth are:
– ABB Ltd
– Emerson Electric Co
– Siemens AG
– Schneider Electric SE
– Mitsubishi Electric Corporation
– General Electric Company
– Rockwell Automation Inc
– Honeywell International Inc
– Yokogawa Electric Corporation
– Omron Corporation
What Are The Key Trends In The Industrial Control & Factory Automation Market?
Clinching trends in the forecast period centre on:
– Remote and smart manufacturing
– Energy efficiency and sustainability
– Predictive maintenance strategies
– Edge computing in automation
– Cybersecurity measures
What Are The Segments Of The Global Industrial Control & Factory Automation Market?
The industrial control & factory automation market is categorized into several segments:
1. By Component: Industrial Robots, Machine Vision System, Process Analyzer, Field Instruments, Human-Machine Interface (HMI), Industrial PC, Industrial Sensors, Industrial 3D Printing, Vibration Monitoring, Other Components
2. By Solution: Distributed Control System (DCS), Supervisory Control, And Data Acquisition (SCADA), Programmable Logic Controller (PLC), Manufacturing Execution System (MES), Product Life Cycle Management (PLM), Plant Asset Management (PAM), Functional Safety
3. By Industry: Process Industry, Discrete Industry
Which Region Leads The Industrial Control & Factory Automation Market?
Asia-Pacific led the industrial control & factory automation market in 2024, establishing the largest market share. The regions covered in this report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Is Covered In The Industrial Control & Factory Automation Market Global Market Report?
– Market Size Analysis: Analyze the Industrial Control & Factory Automation Market size by key regions, countries, product types, and applications.
– Market Segmentation Analysis: Identify various subsegments within the Industrial Control & Factory Automation Market for effective categorization.
– Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
– Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
– Market Contribution: Evaluate contributions of different segments to the overall Industrial Control & Factory Automation Market growth.
– Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
– Industry Challenges: Analyze challenges and risks affecting the Industrial Control & Factory Automation Market.
– Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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