DUBLIN--(BUSINESS WIRE)--The "Industrial Control and Factory Automation Market by Solution (SCADA, PLC, DCS, MES, PLM, PAM, Functional Safety), Component (Industrial Robots, Industrial 3D Printing, Control Valves, Machine Vision, HMI), Industry, and Geography - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The industrial automation and factory control market was valued at USD 141.4 billion in 2019 and is projected to reach USD 229.3 billion by 2025; it is expected to grow at a CAGR of 8.6% from 2020 to 2025.
The growth of the industrial control and factory automation market in China can be attributed to an increase in labor wages and the presence of a large number of automobile manufacturing plants in the country. The market in North America is projected to witness growth owing to the rising adoption of industrial control and factory automation technologies in different industries to automate their different processes. The companies in the US have consolidated their production and increased their focus on operational expenditure over capital expenditure. The increasing use of smart manufacturing technologies is enabling manufacturers to enhance their production efficiency and decrease their operational expenditure.
Industrial 3D printing is expected to soar highest in industrial control and factory automation market during forecast period
Industrial 3D printing comprises scanning and printing software. Scanning software is used in various stages of product development, right from the conceptualization of products to their designing, prototyping, engineering, manufacturing, and quality controlling. Scanning software allows the manufacturing of tools by 3D printing without working on their designs by simplifying scanning of tools that have already been developed using traditional methods.
Distributed control system to dominate industrial control and factory automation market, by solutions, during forecast period
The growth of this segment can be attributed to the ongoing 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.
APAC to be fastest-growing market for industrial control and factory automation during forecast period
Among all regions, the market in APAC is expected to grow at the highest rate from 2020 to 2025. The growth of the market in this region can be attributed to the increasing adoption of industrial automation technologies, especially across China and India. The growth of the industrial control and factory automation market in China can be attributed to the increase in labor wages and the presence of a large number of automobile manufacturing plants in the country.
- Transformation of traditional Factories Into Smart Factories Owing to Advancements in Technologies
- Rise in Adoption of robots in Global Manufacturing Industry
- Emergence of connected Enterprises and Requirement of mass Manufacturing of Products
- Initiatives Undertaken by Governments of different Countries to Promote Adoption of industrial Automation
- Emphasis On Industrial Automation and Optimum Utilization ofResources
- Significant Initial Capital Investments and Re-Investments for Industrial Control and Factory Automation Systems and Solutions
- Fluctuations in End-Use Industries to Hamper Demand for Field Instruments
- Adoption of industry 4.0 for Industrial Manufacturing
- Increased Demand for Safety Compliance Automation Solutions
- Absence of standardization in Industrial Communication Protocols and Interfaces
- Lack of skilled Workforce to Operate Industrial Automation Devices and Systems
- Rise in Instances of automated Cyberattacks
- Schneider Electric
- Mitsubishi Electric Corporation
- General Electric
- Rockwell Automation
- Yokogawa Electric Corporation
- Omron Corporation
- Fanuc Corporation
- Dwyer Instruments, Inc.
- 3D Systems Corporation
- Fuji Electric
- Vega Grieshaber
- Tegan Innovations
- Win-911 Software
- Pinpoint Information Systems
- Chaos Prime
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