Industrial Control & Factory Automation Market Size to Reach US$ 513.82 Bn by 2032, Driven by Rising Demand for Real-Time Monitoring & Effective Resource Management | S&S Insider
The Industrial Control & Factory Automation Market is growing rapidly, fueled by the increasing adoption of Industry 4.0, which focuses on creating interconnected, data-driven manufacturing systems.
Austin, Nov. 06, 2024 (GLOBE NEWSWIRE) — Industrial Control & Factory Automation Market Analysis:
“According to SNS Insider Research Report, The Industrial Control & Factory Automation Market size was valued at USD 226.93 billion in 2023 and is now anticipated to grow to USD 513.82 billion by 2032, displaying a compound annual growth rate (CAGR) of 9.51% during the forecast period of 2024-2032.”
Transforming Manufacturing: Growth Trends in the Industrial Control and Factory Automation Market
The Industrial Control and Factory Automation Market is experiencing significant growth driven by the increasing need for efficient manufacturing processes and the rise of Industry 4.0 technologies. Automation solutions enhance operational efficiency, reduce production costs, and improve product quality, making them essential for modern manufacturing. The integration of advanced technologies such as the Internet of Things (IoT), artificial intelligence (AI), and machine learning is transforming traditional manufacturing processes into smart factories, enabling real-time data analysis and predictive maintenance. Key trends in this market include the rising adoption of robotics in manufacturing, which boosts precision and productivity while minimizing human error. Additionally, the growing emphasis on sustainability and energy efficiency has led to the implementation of automated solutions that optimize resource use and reduce waste. The development of cloud-based control systems facilitates remote monitoring and management, further enhancing operational flexibility. Investment in research and development is also increasing, with companies focusing on creating innovative solutions that cater to the evolving needs of the manufacturing sector. Collaborations between technology providers and manufacturers are fostering advancements in automation technologies, driving their adoption across various industries. As the demand for smart manufacturing grows, the Industrial Control & Factory Automation Market is set to play a crucial role in shaping the future of manufacturing, enhancing competitiveness and productivity while addressing environmental challenges.
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Major Players Analysis Listed in this Report are:
- Yokogawa Electric Corporation
- Omron Corporation
- WIKA
- Mitsubishi Electric Corporation
- Rockwell Automation
- Yaskawa Electric Corporation
- Toshiba Corporation
- Honeywell International Inc.
- Dwyer Instruments
- Stratasys
- Hitachi
- Siemens AG
- Schneider Electric
- ABB Ltd.
- GE Automation & Controls
- Emerson Electric Co
- KUKA AG
- FANUC Corporation
- Panasonic Corporation
- Advantech & Other Players
Industrial Control & Factory Automation Market Report Scope:
| Report Attributes | Details |
| Market Size in 2023 | USD 226.93 Billion |
| Market Size by 2032 | USD 513.82 Billion |
| CAGR | CAGR of 9.51% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Key Regional Coverage | North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America) |
| Key Growth Drivers | • The rising demand for industrial automation is driven by the need to boost productivity, enhance efficiency, and achieve cost savings across manufacturing and process industries. • Integrating AI and IoT into automation systems elevates data analysis and enables predictive maintenance, fostering more intelligent and digitally optimized industrial operations. |
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Market Segmentation: Leading Trends in Distributed Control Systems and Discrete Industry Segments
By solution: The Distributed Control Systems (DCS) segment dominated the market share over 36.02% in 2023, The widespread adoption of Industrial Internet of Things (IIoT) technologies is indicative of industrialists’ increasing preference for Distributed Control Systems (DCS) in automated control frameworks. These systems offer centralized control along with distributed data processing capabilities. DCS is essential in industries such as manufacturing and energy, where real-time data from sensors and actuators facilitates precise operational control and minimizes downtime.
By industry: The discrete industry segment dominated the market share over 54.38% in 2023. This industry involves the production of tangible goods that are unique and identifiable, including items such as nuts, bolts, brackets, assemblies, cables, automobiles, toys, furniture, and smartphones. These products are generally manufactured in distinct units, which can be easily counted or measured, rendering them essential for various sectors. Upon reaching the end of their life cycle, discrete products can often be disassembled and recycled, thereby facilitating sustainable practices in manufacturing and waste management.
Industrial Control & Factory Automation Market Key Segmentation:
By Component Type
- Industrial Robots
- Collaborative Industrial Robots
- Machine Vision
- Control Valves
- Field Instruments
- Human–Machine Interface (HMI)
- Industrial PC
- Sensors
By Solution
- SCADA
- PLC
- DCS
- MES
- Industrial Safety
- PAM
By Industry
- Process Industry
- Oil & GAS
- Chemical
- Pulp & Paper
- Pharmaceutical
- Metals & mining
- Food & Beverages
- Energy & Power
- Discrete Industry
- Automotive
- Machine manufacturing
- Semiconductor & Electronics
- Aerospace & Defense
- Medical device
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Key Regional Developments: Asia Pacific Leads Industrial Control and Factory Automation Market.
The Asia Pacific region has dominated the market share over 38.06% in 2023. This growth can be attributed to the presence of several key market players and a rise in emerging companies throughout the region. Nations such as India and China are experiencing a growing demand for advanced solutions to optimize industrial plant management, which significantly contributes to market expansion. The shift from traditional to smart production facilities is becoming increasingly prevalent, promoting greater acceptance of industrial automation technologies. Furthermore, China’s manufacturing sector has witnessed substantial investments in automation, fueled by government initiatives aimed at enhancing productivity and efficiency.
North America the Industrial Control & Factory Automation Market is experiencing rapid growth, driven primarily by substantial technological advancements and the ongoing digital transformation across various sectors. Manufacturing units in the region are progressively adopting cutting-edge automation technologies to improve efficiency and optimize business processes.
Future Growth of the Market
| Aspect | Details |
| Market Growth Projection | Continued robust growth trajectory driven by efficiency, productivity, and technological advancement. |
| Key Drivers | 1. Prioritization of Automation: Increased focus on innovative solutions to enhance operational efficiency and reduce costs. |
| 2. Transition to Smart Manufacturing: Influenced by Industry 4.0 principles, affecting market dynamics. | |
| 3. Integration of Advanced Technologies: Use of AI, machine learning, and IoT for real-time monitoring and analysis, optimizing production processes. | |
| Predictive Maintenance | Increasing use of AI and data analytics for predictive maintenance, reducing downtime, and enhancing equipment lifespan. |
| Robotics Adoption | Anticipated rise in robotics in manufacturing, leading to improved precision and productivity. |
| Sustainability Focus | Growing emphasis on energy efficiency and environmentally friendly practices, with automation solutions minimizing waste and optimizing resource use. |
| Regulatory Support | Regulatory frameworks encouraging sustainable practices will incentivize automation technology adoption. |
| Cloud-based Solutions | Development of cloud technology enhances data analytics and operational flexibility, crucial for market demand adaptation. |
| Accessibility of Automation | Increasing availability of affordable automation technologies will empower small and medium-sized enterprises, broadening the market base. |
| Strategic Collaborations | Collaboration between technology providers and manufacturers is essential for driving innovation; investment in R&D will create tailored solutions for various industries. |
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Recent Development
In August 2024: Siemens launched the SINUMERIK 828D Machine Control Panel, a CNC (Computer Numerical Control) system specifically tailored for mid-range machines. This system is widely used in milling, turning, and grinding applications. The 828D delivers outstanding performance while being user-friendly, making it suitable for both standard equipment and advanced industrial uses.
In February 2024: Schneider Electric, Intel, and Red Hat unveiled an open automation infrastructure that employs a Distributed Control Node (DCN) software platform. This initiative builds on Schneider’s EcoStruxure Automation Expert and aims to provide industrial companies with a software-defined, plug-and-play solution that improves efficiency, quality, and cost-effectiveness.
Table of Contents – Major Key Points
1. Introduction
2. Executive Summary
3. Research Methodology
4. Market Dynamics
5. Statistical Insights and Trends Reporting
6. Competitive Landscape
7. Industrial Control & Factory Automation Market Segmentation, By Component Type Type
8. Industrial Control & Factory Automation Market Segmentation, By Solution
9. Industrial Control & Factory Automation Market Segmentation, By Industry
10. Regional Analysis
11. Company Profiles
12. Use Cases and Best Practices
13. Conclusion
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