Market Overview:
Factory Automation and Industrial Control System Market Size Was Valued at USD 232.56 Billion in 2022, and is Projected to Reach USD 480.67 Billion by 2030, Growing at a CAGR of 9.5% From 2023-2030.
Combining digital and physical aspects of manufacturing to achieve optimal performance has changed the automation sector. Additionally, the goal of achieving zero waste production and a shorter time to market entry has accelerated market growth. Manufacturing process automation has several benefits, including easy monitoring, waste elimination, and accelerated production. Customers can benefit from this technology's increased quality, standardization, and trustworthy products at significantly cheaper prices. The integration of SCADA, HMI, PLC systems, and software that offers visualization has been significantly aided by the connection of industrial machinery and equipment and the acquisition of real-time data.
Top Key Players Covered In The Factory Automation and Industrial Control System Market:
- Schneider Electric SE (France)
- Rockwell Automation Inc. (US)
- Honeywell International Inc. (US)
- Emerson Electric Company (US)
- ABB Ltd (Switzerland)
- Mitsubishi Electric Corporation (Japan)
- Siemens AG (Germany)
- Omron Corporation (Japan)
- Yokogawa Electric Corporation (Japan), and Other Major Players.
Market Dynamics and Factors:
The industrial industry is expanding significantly. Over the past 25 years, there has been a decline in production sector employment in the United States. The main problems these industries face is rising labor costs, pressure to reduce prices, and rising material costs. Additionally, the fluctuating unit labor wages in the US demonstrate the irregularity in productivity. This accelerated the speed of automation adoption across the industrial sector, lowering manufacturing costs. As per the Institute for Supply Management Manufacturing Business Survey Committee, in 2020, industrial materials' costs soared after a downfall in early 2020. From a global perspective, more jobs, more workers, more consumption, and more competition for the same goods and materials were observed. Rising prices have forced a downcycle and compromise growth
Several processes used in industrial manufacturing can be detrimental to people. Human error or mechanical malfunction during production can result in deadly accidents. As a result, the manufacturing sector needs to implement safety measures to prevent such workplace mishaps. Products that enhance automation safety help to reduce the danger of accidents. Safety automation devices, for instance, alert operators to situations and execute specific predetermined steps to lessen the impact on human life. They keep an eye out for issues with various machines and processes and conduct diagnostic tests to find answers as soon as possible.
Factory Automation and Industrial Control System Market Report Highlight:
- By Type, the DCS segment is anticipated to lead the growth of the Factory Automation and Industrial Control System market in the forecasted timeframe. The growth of this segment can be attributed to the rapid industrialization in emerging economies. Developing countries have expansion and capacity addition plans related to their power sector, which is expected to fuel the demand for DCS during the forecast period.
- By Component, the industrial sensors segment is expected to have the highest share of the Factory Automation and Industrial Control System market over the projected period. Predictive maintenance is expected to offer lucrative opportunities to players operating in the industrial sensors market in the coming years. It involves capturing sensor data, facilitating data communications, and making predictions
- By end-users, the Oil & Gas segment is set to develop at the highest CAGR during the forecasted timeframe. oil & gas industry to monitor facilities remotely and gain knowledge about the daily status of inventories and equipment used. Remote monitoring enables remote collection of the equipment data. It also reduces risks and improves the safety and efficiency of the workforce.
- The Asia-Pacific region is expected to have the highest share of the Factory Automation and Industrial Control System market over the projected period. The demand in China for factory automation includes the demand for automating production lines and supply chains and has driven it toward the factory automation sphere and has been supported by favorable investments.
Key Industry Development:
- In April 2023, Emerson acquired National Instruments (NI) for $8.2 billion. This strategic move aimed to combine Emerson's automation expertise with NI's test and measurement technology, creating a powerhouse in integrated automation solutions. It expands Emerson's reach into diverse markets and offers significant cost synergies.
- In September 2023, ATS Corporation acquired Avidity Science. This acquisition strengthened ATS' presence in the life sciences sector by adding Avidity's expertise in automated water purification solutions.
Factory Automation and Industrial Control System Market Segmentation:
By Type
- SCADA
- PAM
- PLC
- DCS
- MES
- Others
By Component
- Industrial Sensors
- Industrial Robots
- Industrial 3D Printers
- Machine Vision Systems
- Others
By End-User
- Automotive
- Chemical & Petrochemical
- Pharmaceutical
- Food & Beverage
- Oil & Gas
- Other
For this report, Introspective Market Research has segmented the Factory Automation and Industrial Control System Market based on region:
Regional Outlook (Revenue in USD Million; Volume in Units, 2023-2030)
North America
- The U.S.
- Canada
- Mexico
Eastern Europe
- Russia
- Bulgaria
- The Czech Republic
- Hungary
- Poland
- Romania
- Rest of Eastern Europe
Western Europe
- Germany
- UK
- France
- Netherlands
- Italy
- Spain
- Rest of Western Europe
Asia Pacific
- China
- India
- Japan
- Singapore
- Australia
- New-Zealand
- Rest of APAC
Middle East & Africa
- Turkey
- Saudi Arabia
- Qatar
- UAE
- Israel
- South Africa
South America
- Brazil
- Argentina
- Rest of SA
