Global Industrial Control & Factory Automation Market Segments 2024, Forecast To 2033
5 Mar, 2024
The industrial control & factory automation market has shown robust growth, increasing from $150.24 billion in 2023 to $163.9 billion in 2024, with a 9.1% CAGR. Historic growth is attributed to efficiency and cost reduction goals, DCS (Distributed Control Systems) adoption, MES (Manufacturing Execution Systems) integration, human-machine interface (HMI), and computer numerical control (CNC). The market is expected to see strong growth, reaching $224.79 billion in 2028, with an 8.2% CAGR. Forecasted growth is driven by smart manufacturing practices, energy efficiency emphasis, AI and machine learning integration, rapid IoT devices adoption, and industry 4.0 evolution. Major trends in 2028 include remote and smart manufacturing, energy efficiency and sustainability, predictive maintenance strategies, edge computing in automation, and cybersecurity measures.
Global Industrial Control & Factory Automation Market Key Driver
The industrial control and factory automation market is growing with the emergence of connected enterprises. Businesses relying on digitalization and IoT technologies drive the need for automation. The shift towards connected enterprises, as revealed by the Global Digital Transformation Survey, propels the growth of industrial control and factory automation.
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The industrial control & factory automation market covered in this report is segmented –
1) By Component: Industrial Robots, Machine Vision System, Process Analyser, 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
By Geography: The regions covered in the anti inflammatory therapeutics market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa. Among these regions.
Asia-Pacific was the largest region in the industrial control & factory automation market share in 2023. The regions covered in the industrial control & factory automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
Major Industrial Control & Factory Automation Industry Players
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; Endress+Hauser Group; FANUC Corporation; WIKA Alexander Wiegand SE & Co KG; Dwyer Instruments Inc.; Stratasys Ltd.; 3D Systems Corporation; Azbil Corporation; Krohne Group; Fuji Electric Co Ltd.; Hitachi Ltd.; VEGA Grieshaber KG; PINpoint Information Systems Inc; Inxpect SPA; Algolux Inc.; Yaskawa America Inc.; Roboze SPA; Seiko Epson Corporation; Advantech Co Ltd.; RS Americas Inc.; Applied Materials Inc.; Aspen Technology Inc.; Beckhoff Automation GmbH & Co KG; Bosch Rexroth AG; Cognex Corporation; Danaher Corporation; Delta Electronics Inc.
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AIOps Industrial Control & Factory Automation Market Overview
Industrial control and factory automation refer to the process of implementing technologies to automate major industrial control processes and improve production and efficiency.
Industrial Control & Factory Automation Global Market Report 2023 provides data on the global industrial control & factory automation market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The industrial control & factory automation market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.