The global factory automation market is projected to grow at a significant CAGR during the forecast period. With the advent of AI and IoT, the market is primarily supported by an increasing inclination toward automated production processes. In addition, there have been a number of government-led projects aimed at promoting automation in collaboration with the private sector. For instance, in 2018, NITI Aayog collaborated with ABB to propose digitalization solutions incorporating Internet of Things (IoT) and Artificial Intelligence (AI) technologies across various sectors of the economy, including power and water utilities, food and heavy industries, transportation (rail and metro), and infrastructure. The plan also includes the rapidly expanding field of electric mobility.
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The key players of the market include ABB Ltd., Honeywell International, Inc., Emerson Electric Co., Schneider Electric SE, Siemens AG, and others. To maintain a strong position in the market, these market players adopt various strategies such as product launches, partnerships, collaborations, and mergers and acquisitions. For instance, in April 2021, Google Cloud and Siemens collaborated to streamline production operations and boost shop floor efficiency. Siemens plans to integrate Google Cloud’s top data cloud and artificial intelligence/machine learning (AI/ML) capabilities with its factory automation solutions to assist manufacturers in the manufacturing process.
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Market Coverage
- The market number available for – 2020-2027
- Base year- 2020
- Forecast period- 2021-2027
- Segment Covered-
o By Component
o By Control System
o By Industry
- Competitive Landscape: ABB Ltd., Honeywell International, Inc., Emerson Electric Co., Schneider Electric SE, Siemens AG, and others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominates the market in base year?
- Which segment and region will project fastest growth in the market?
- How COVID-19 impacted the market?
o Recovery Timeline
o Deviation from pre-COVID forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Factory Automation Market by Segment
By Component
- Industrial Robots
- Machine Vision
- Human Machine Interface (HMI)
- Sensors
- Control Valves
- Others (Field Instruments)
By Control Systems
- Programmable Logic Controllers (PLC)
- Distributed Control Systems (DCS)
- Supervisory Control and Data Acquisition System (SCADA)
- Manufacturing Execution System (MES)
- Others (Product Lifecycle Management)
By Industry
- Automotive
- Aerospace & Defense
- Oil & Gas
- Chemical
- Food & Beverages
- Healthcare
- Others ( Mining and Electronics)
This release has been published on OMR Industry Journal. OMR Industry Journal is not responsible for any content included in this release.
