The Global Industrial and Factory Automation Market is projected to grow at a CAGR of 8.3% during the forecast period 2024-2030.
Due to COVID-19, the market for industrial and factory automation shrunk exponentially in the first half of 2020, which negatively impacted the money these products generated. Consequently, the first half of 2020 saw a slowdown in the industry's total growth. The COVID-19 pandemic has had a major effect on the value chain of the industrial and factory automation business. The United States, China, South Korea, Japan, and other nations that produce the majority of the world's industrial and factory automation sector have all suffered greatly as a result of the pandemic. The discrete and process sectors are currently experiencing poor demand as a result of the global slump, and this situation is expected to last for the foreseeable future.
Automating factories and industries involves using an external control element to operate a range of processes and related process equipment. Among these control elements are sensors, SCADA, PLC, machine vision systems, and other services. By combining these control devices with moving machinery, output can be increased while labour expenses and waste production are reduced. High-tech industrial robots and Remote Terminal Units (RTUs) are used to streamline manufacturing processes.
Governments everywhere are supporting industry expansion in order to guarantee the overall development of their countries. Numerous automation and communication components and technologies are now being used as a result of the structural evolution of industries. Governments prioritise the development of the discrete and process sectors. The Singaporean government, for example, has collaborated with various organisations, including the Food Innovation Resource Centre and the Singapore Food Manufacturing Association (SFMA), to implement the most recent automation technologies in the food and beverage industry, such as SCADA, PLC, DCS, robots, and cables.
The market for industrial controls is growing significantly as a result of the manufacturing, oil and gas, food and beverage, chemical, and automotive industries adopting industrial 4.0 concepts. Production facilities may now operate constantly without human error thanks to Industry 4.0, which has led to the automation of most manufacturing industry processes and systems. This reduces the overall duration of the manufacturing cycle while preserving the calibre of all processes, from the procurement of raw materials to the fabrication of final products.
Key Market Insights:
The largest market share in 2022 was held by sensors. In the industrial automation control sector, sensors are gaining popularity due to their widespread use in the automotive, medical, consumer electronics, and armed services industries. Further, manufacturers are employing robotics to automate these tasks greatly because of advancements in technology, force/torque sensors, and end-effectors. Polishing is one tedious, laborious job that can be mechanised to produce effective results.
Robots that can autonomously do a wide range of tasks, such as welding, painting, assembling, picking, and putting, are known as industrial robots. Many industries, including pharmaceuticals, electronics, food and beverage, metal and equipment, and automotive, depend heavily on their employment. The industrial robot segment saw the fastest growth in market share. Rising labour costs, a growing need for automation, improvements in quality and efficiency, and technological advancements are all contributing to the growth in demand for industrial robots.
Process industry held a dominant position in the world market. The food and beverage, additives, petroleum, base metals, paper and paper products, pharmaceutical, and other sectors are examples of process industries. Because it frequently monitors and manages fluids like milk, oil, and water, the process industry is the primary end-user of a DCS (Distributed Control System).
Europe will dominate the market for factory and industrial automation for the duration of the projection. This increase may be attributed to the need for mass production as well as the broad use of supporting technology associated with manufacturing, including cybersecurity, big data, and industrial robotics. Robotics sales have surged in the manufacturing industry. The expanding market for electronic goods and the need to automate manufacturing are driving the need for industrial automation in the region. The industrial and factory automation market in Asia Pacific is expected to increase at a substantial rate throughout the projected period, with Europe following suit.
The Distributed Control System (DCS) secured the largest market share. A distributed control system (DCS) is a digital automated industrial control system that is dispersed over a production facility, device, or regulation zone and is not centralised. The location of DCSs ensures that every component of a production facility is managed by one or more controllers, allowing instructions to be sent to different parts of the plan. The market in Europe will increase at a faster rate than the market in Asia Pacific.
Industrial Robots
Machine Vision
Process Analyzer
Field Instruments
Human Machine Interface
Industrial PC
Industrial Sensors
Industrial 3D Printing
Vibration Monitoring
SCADA
PLC
DCS
MES
Industrial Safety
PAM
Process Industry
Discrete Industry
North America
Europe
Asia-Pacific
South America
Middle East & Africa
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