BANGALORE, India, June 25, 2020
BANGALORE, India, June 25, 2020 /PRNewswire/ -- Factory automation standardizes industrial processes and ensures consistent, superior-quality results. Furthermore, due to its features such as reduced human interference, increased efficiency, and lower labor costs, it fulfills the need for mass production in manufacturing, resulting in minimum overall operating costs.
The global factory automation market size is expected to reach USD 368,372.4 Million in 2025, from USD 190,882.2 Million in 2017, growing at a CAGR of 8.8% from 2018 to 2025.
The manufacturers use different factory operated control systems to automate and optimize industrial processes such as metalworking, molding, manufacturing of additives, and painting works. Supervisory control and data acquisition (SCADA) systems, distributed control systems (DCS), and programmable logic controllers (PLC) are some of the primary controls used by industries.
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TRENDS INFLUENCING THE FACTORY AUTOMATION MARKET
FACTORS AFFECTING THE FACTORY AUTOMATION MARKET SIZE
Factory automation growth is hindered by high investment, limited availability of skilled workers, and inadequate awareness about security.
FACTORY AUTOMATION MARKET SHARE ANALYSIS
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SIMILAR REPORTS :
● Human Machine Interface (HMI) Market Report
The Human Machine Interface market size is valued at 3660 million USD in 2018 is expected to reach 6570 million USD by the end of 2025, growing at a CAGR of 7.6% during 2019-2025.
Factors that drive the growth of Human Machine Interface market size include the surging adoption of industrial automation in the manufacturing sector, the evolution of industrial internet of things (IIoT), growing demand for smart automation solutions, and rising need for efficiency and monitoring in manufacturing plants.
● Supervisory Control and Data Acquisition (SCADA) Market Report
The global Supervisory Control and Data Acquisition market size is projected to reach USD 44.75 Billion by 2026, from USD 32.94 Billion in 2020, at a CAGR of 5.24% during 2020-2026.
SCADA is a system of software and hardware elements that allows industrial organizations to monitor, gather, and real-time process data, and to control industrial processes locally or at remote locations.
The growth of the SCADA market is propelled by factors such as high demand for industrial mobility solutions to efficiently manage process industries, increased adoption of Industry 4.0 in process industries, and increased use of software platforms such as IoT and edge computing.
● Industrial Controls and Factory Automation Market Report
The global Industrial Controls and Factory Automation market is valued at 128000 Million USD in 2020 is expected to reach 210250 Million USD by the end of 2026, growing at a CAGR of 7.3% during 2021-2026.
● Industrial Robotics Market Report
The Global Industrial Robotics Market size was valued at USD 37,875 Million in 2016 and is projected to reach USD 70,715 Million by 2023, growing at a CAGR of 9.4% from 2017 to 2023.
The Global Industrial Robotics Market is driven mainly by an increase in labor prices, which in turn has forced manufacturers to substitute human labor with machinery. Asia and Europe are the key growth regions. Some of the leading players are based in the regions, including ABB, Fanuc, KUKA, Kawasaki, and the Yaskawa Electric Corporation.
● Smart Factory Market Report
North America held the largest Smart Factory Market, with a market share of 29.09% in 2012 and 26.56% in 2017, with an increase of 2.53%. Europe and China ranked second and third markets with a market share of 26.50% and 18.92% in 2016. In 2019, the global Smart Factory market size was USD 51510 million.
● Manufacturing Execution Systems (MES) Market Report
Manufacturing Execution Systems deliver information enabling the optimization of production activities from order launch to finished goods.
The concept of MES is widely recognized and used in manufacturing sectors such as automotive, semiconductor, electronics, food processing, pharmaceuticals, aerospace, medical devices, textiles. Elements such as scheduling, maintenance management, quality, and time and attendance fall within the scope of MES and are used in all industries.
● Programmable Logic Controller (PLC) Market Report
In 2019, the global Programmable Logic Controller (PLC) market size was USD 12410 Million
Increased adoption of automation systems is driving the PLC market size. A major growth indicator for PLCs in the discrete-manufacturing sectors is the amplified deployment of robots for automation across automotive manufacturing, electrical, and electronics industries.
Europe was the largest consumption market with a market share of 38% in 2014 and 37% in 2018, with a decrease of 2%. Asia-Pacific and North America ranked the second and third markets with a market share of 35% and 20% in 2018.
● Distributed Control System (DCS) Market Report
In 2019, the global Distributed Control System (DCS) market size was USD 7099 Million
The main concept of DCS application is derived by the idea of decentralizing the control unit and establishing a common network between the engineering stations. In addition, integrating DCS with process plants enables it to control, report, and monitor the components individually, while providing flexibility and simplicity to the plant operation.
This study comprises an analytical depiction of the global DCS market forecast, with current trends and future estimations to depict the imminent investment pockets.
● Safety Instrumented Systems Market Report
● Factory Automation Platform as a Service Market Report
● Discrete Industrial Control and Factory Automation Market Report
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