Industrial Control and Factory Automation Market Worth $ 272,211.57 Million, Globally, by 2027 at 8.01% CAGR: Verified Market Research

Industrial Control and Factory Automation Market Worth $ 272,211.57 Million, Globally, by 2027 at 8.01% CAGR: Verified Market Research

Growing demand for safety compliance automation products, increasing government initiatives for industrial automation in various sectors, and the rise in usage of enabling technologies in manufacturing have been driving the market

PR Newswire

Jersey City, N.J., Nov. 9, 2020

Jersey City, N.J., Nov. 9, 2020 /PRNewswire/ -- Verified Market Research recently published a report, "Industrial Control and Factory Automation Market by Component (Sensors, Industrial Robots, Machine Vision, Control valves, Industrial PC, Control devices, Field Instruments, Industrial 3D printing, and Human-Machine Interface), 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), and Functional Safety), by Industry, Geography". According to Verified Market Research, the Global Industrial Control and Factory Automation Market was valued at USD 164,982.41 Million in 2019 and is projected to reach USD 272,211.57 Million by 2027, growing at a CAGR of 8.01% from 2020 to 2027.

Industrial Control & Factory Automation Market, 2020-2027

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Browse in-depth TOC on "Industrial Control and Factory Automation Market"

202 - Pages
126 – Tables
37 – Figures

Global Industrial Control and Factory Automation Market Outlook

In the report, the market outlook section mainly encompasses the fundamental dynamics of the market which include drivers, restraints, opportunities, and challenges faced by the industry. Drivers and restraints are intrinsic factors whereas opportunities and challenges are extrinsic factors of the market.

Growing demand for safety compliance automation products, increasing government initiatives for industrial automation in various sectors, and the rise in usage of enabling technologies in manufacturing have been driving the global industrial control and factory automation market. On the other hand, high initial cost, lacking technical expertise and increasing cyber threats are some of the factors that may hinder the overall growth of the market. Moreover, increasing demand for smart manufacturing infrastructure has led to the growth of the industrial control and factory automation market.

Verified Market Research narrows down the available data using primary sources to validate the data and use it in compiling a full-fledged market research study. The report contains a quantitative and qualitative estimation of market elements that interest the client. The "Global Industrial Control and Factory Automation Market" is mainly bifurcated into sub-segments which can provide a classified data regarding the latest trends in the market. The study report will provide valuable insight with an emphasis on the global market including some of the major players such as ABB Ltd., Emerson Electric Co., Rockwell Automation Inc., Siemens AG, Endress+Hauser Group, Schneider Electric, Yokogawa, Omron Corporation, Mitsubishi, and Honeywell.

Verified Market Research has segmented the Global Industrial Control and Factory Automation Market on the basis of component, solution, Industry, and geography.

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