Global
industrial control and factory automation market is predicted to proliferate
during the forecast period due to the rapid growth in of the E-Commerce
Industry. Industrial control and factory automation is the incorporation of
automating inventory movement, machinery, and process from end-to-end
manufacturing processes with the least amount of human intervention and
controlled by autonomous systems. During an automation project, a company can
get rid of labor-intensive tasks during manufacturing that need repeated
physical labor, manual data input, and analysis. In addition, to avoid manual
operations and expedite order selection procedures, warehouses deploy highly
automated technology for more complicated products handling flows, comprising
conveyors, automatic sorters, AGVs (Automated Guided Vehicles), a robotic
picking system, and automatic palletizers. The companies are progressively
using this technology to reduce handling and storage costs, human error, enhanced
data accuracy and analysis, reduced stockout events, improved customer service,
and order fulfilment accuracy. Numerous innovations carried out in empowering
the factory with automation technology such as cobotics, warehouse drones, and
wireless fleet management and supply chain as a service are helping service
providers to offer an effective solution to the enterprises that are enhancing
the features of industrial control and factory automation.
Increasing
Growth of the E-Commerce Industry
The growth and
popularity of ecommerce has sparked the demand for industrial control and
factory automation. The spark has ignited the e-commerce service providers and
operators for adopting various technologies such as automation and robotics in
the warehouses, factories, and transportation. Automated Storage and Retrieval
Systems (AS/RS), Automatic Guided Vehicles (AGVs), Autonomous Mobile Robots
(AMRs), Goods-to-Person (GTP) systems and many more have been accepted as a
necessary automation solution by several global enterprises. The market is
expanding globally because of the numerous firms employing this industrial
control and factory automation technique such as supervisory control and data
acquisition (SCADA) and product lifecycle management (PLM) to make the entire
process more efficient and cost effective. For instance, according to comscore,
the digital e-commerce market in 2022 hit around USD 1.09 trillion in the US.
This industrial control systems can be helpful for improving the accuracy of
inventory by tracking turnover rates and prevent defective or lost items with
distributed control system (DCS). Thus, the increasing growth of the E-Commerce
industry is propelling the growth of the global industrial control and factory
automation market.
Government
Initiatives to Promote Industrial Automation
The government
of various countries are expressing the intention to support business and
science to ensure healthy economic development. The structural development of
the manufacturing sector depends upon the adoption of advanced communication
and Industrial automation technologies. For instance, to harness the growing
demand from consumers and requirement of enhancing the capabilities of
industrialization, the Indian government has launched Make in India initiative,
production linked incentive (PLI) scheme to encourage domestic production.
Moreover, the country has recently unveiled a national logistics policy (NLP)
in an attempt to establish a multi-jurisdictional framework for growing the
logistics industry. Moreover, to foster smart manufacturing facilities, the
Government of Korea has laid out several initiatives to roadmap several areas
of R&D projects, establishment of Smart Factory Standard Research Council,
and promote the conglomeration for accelerating the manufacturing automation
solutions to bolster productivity and profitability and reduce costs across the
supply chain. Furthermore, several initiatives in different countries such as
Singapore’s Integrated Robotics and Automation Solutions Initiative, the US national
strategy for advanced manufacturing and many more are exhibited to further
stimulate the global industrial control and factory automation market during
the forecast period.
Growing Use
of Robotics in Warehousing is Stimulating the Market Growth
The growing use
of robotics for automation in warehousing is slowly becoming a trend with
newer, groundbreaking technology. Robots are offering significant value to
warehouse operations. As they can help to mitigate the risk associated with
errors, reduce overhead, speed up order fulfillment and facilitate better
inventory management, businesses are rapidly adopting robotics as an
alternative for automating their warehouses. For instance, according to the
association for advancing automation (A3), robot sales hit a new record in
North America with 12,305 robots sold in Q2 2022, a 25% increase in unit orders
over the same period in 2021. With resurgence in sales to automotive
companies and an ongoing need to manage increasing demand to automate logistics
for e-commerce, enterprises are rapidly enabling robotics as an effective
technology to automate the workflow without any hindrance. Additionally, large
enterprises are investing heavily on automation to keep the pace with the
developing economy such as amazon and Walmart investment of USD 1 billion and
USD 14 billion in industrial control and factory automation solutions,
including robots and AI. Furthermore, technical advances in robotics for small
and medium scale enterprises such as autonomous mobile robots (AMRs) are
enabling the enterprises in the operation process with sort, grab, and pick
items from the warehouse floor. Therefore, the growing use of robotics in
warehouses is expected to further stimulate the global industrial control and
factory automation market during the forecast period.
Growing use
of Internet of Things (IoT) in Industrial Automation
The unprecedent
growth of IoT, AI, and industrial automation technology with IoT-based
predictive maintenance and IoT-based asset monitoring solutions and varied
technology connectivity is proving to be a game changer for automation
companies and has enabled potential opportunities. The growing use has altered
the workload flexible and available, streamlined industrial systems, and
improved data automation, with the aim of removing errors and inefficiencies
with cost reduction capability in various manufacturing industries. Data
captured by IoT devices connecting different assets and systems enable
businesses to predict, plan, and take proactive steps for any events such as
parts repair or equipment failure before it occurs. The implementation of IoT
in the automation of industries is gaining transition with the advantages of
better customer experience (CX), increasing operational efficiency, opening new
path for business opportunities, and reduce operational costs. Moreover,
IoT-based predictive maintenance makes use of IoT technologies to analyze a
production system in real time and anticipate potential causes of malfunction
in its parts.
The increasing
number of smart devices and sensors proliferated with IoT-powered asset
monitoring solutions has become a natural step of technological evolution. In
the IoT space, container tracking, trailer monitoring, vehicle monitoring,
real-time location tracking, and supply chain management have become easy to
access through combining IoT solutions with predictive management applications.
In addition, since IoT-based devices are aiding in automating monitor
development cycles and manage warehouse and stockpiles using radio frequency
identification (RFID) inventory tracking, the manufacturing plants have
intended their interest in adopting industrial control and factory automation
solution. For instance, based on the state of IoT-Spring 2022 report, the
number of connected IoT devices grew by 18% from 12.2 billion to 14.4 billion
globally. Thus, the growing use of IoT in industrial automation is
attributed to the growth of the global industrial control and factory
automation market during the forecast period.
Recent
Advancements
- On April 10, 2023, Rockwell
Automation Inc., a global leader in industrial automation and digital
transformation announced the launch of FactoryTalk Optix in the
Asia-Pacific region. A contemporary human-machine interface (HMI)
platform, FactoryTalk Optix is designed to help improve processes and
efficiency enabling users to build, test, and deploy applications straight
from a web browser, aiding industrial organizations transform their
automation design capabilities.
- On March 22, 2023, Mitsubishi
Electric Corporation, a world leader in the manufacturing, marketing, and
sales of electrical and electronic equipment, announced the launch of free
mobile application Factory Automation SPEC Search. The application is
available for iOS and Android platforms for searching, comparing factory,
support, automation products, including computerized numerical controllers
(CNCs), selected human-machine interfaces (HMIs), electrical discharge
machines (EDMs), and industrial and collaborative robots.
- On August 18, 2022, Honeywell, an
industrial control, and factory automation company in collaboration with
University Politehnica of Bucharest announced the development of
industrial automation lab. The State-of-the art industrial automation lab
enables University Politehnica of Bucharest’s Department of Automation and
Computer Science students to build the technical skills and knowledge to
join, compete, and succeed in the global industrial automation sector.
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Market
Segmentation
The global industrial
control and factory automation market is segmented into component, industrial
control systems, and application. Based on component, the market is segmented
into sensors, control values, switches & relays, industrial robots, and
others. Based on industrial control systems, the market is segmented into
distributed control system (DCS), programmable logic controller (PLC),
supervisory control and data acquisition (SCADA), product lifecycle management
(PLM), human machine interface (HMI), and others. Based on application, the
market is segmented into automotive, aerospace & defense, food &
beverage, chemical, energy & utilities, healthcare, oil & gas,
transportation, E-Commerce, and others.
Company
Profiles
Schneider
Electric SE, Rockwell Automation Inc., Honeywell International Inc., ABB
Limited, Siemens AG, Robert Bosch GmbH, Emerson Electric Company, Yokogawa
Electric Corporation, Omron Corporation, and Mitsubishi Electric Corporation
are among the major players that are driving the growth of the global
industrial control and factory automation market.
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Attribute
|
Details
|
|
Base
Year
|
2022
|
|
Historical
Years
|
2018 –
2021
|
|
Estimated
Year
|
2023
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|
Forecast
Period
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2024 – 2028
|
|
Quantitative
Units
|
Revenue
in USD Billion and CAGR for 2018-2022 and 2023E-2028F
|
|
Report
Coverage
|
Revenue
forecast, company share, competitive landscape, growth factors, and trends
|
|
Segments
Covered
|
By Component
By Industrial
Control Systems
By Application
By Region
|
|
Regional
Scope
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Asia-Pacific,
North America, Europe, Middle East & Africa, and South America
|
|
Country
Scope
|
China, Japan, India, Australia, South Korea, United States,
Canada, Mexico, United Kingdom, Germany, France, Spain, Italy, Israel,
Turkey, Saudi Arabia, UAE, South Africa, Brazil, Argentina, and Colombia
|
|
Key
Companies Profiled
|
Schneider
Electric SE, Rockwell Automation Inc., Honeywell International Inc., ABB
Limited, Siemens AG, Robert Bosch GmbH, Emerson Electric Company, Yokogawa
Electric Corporation, Omron Corporation, and Mitsubishi Electric Corporation
|
|
Customization
Scope
|
10%
free report customization with purchase. Addition or alteration to country,
regional & segment scope.
|
|
Pricing
and Purchase Options
|
Avail of customized
purchase options to meet your exact research needs. Explore purchase options
|
|
Delivery
Format
|
PDF and Excel through
Email (We can also provide the editable version of the report in PPT/pdf format
on special request)
|
Report
Scope:
In this report,
the global industrial control and factory automation market has been segmented
into the following categories, in addition to the industry trends which have
also been detailed below:
- Industrial Control and Factory
Automation Market, By Component:
- Sensors
- Control Values
- Switches and Relays
- Industrial Robots
- Others
- Industrial Control and Factory
Automation Market, By Industrial Control Systems:
- Distributed Control System (DCS)
- Programmable Logic Controller
(PLC)
- Supervisory Control and Data
Acquisition (SCADA)
- Product Lifecycle Management (PLM)
- Human Machine Interface (HMI)
- Others
- Industrial Control and Factory
Automation Market, By Application:
- Automotive
- Aerospace & Defense
- Food & Beverage
- Chemical
- Energy & Utilities
- Healthcare
- Oil & Gas
- Transportation
- E-Commerce
- Others
- Industrial Control and Factory
Automation Market, By Region:
- Asia-Pacific
- China
- Japan
- India
- Australia
- South Korea
- North America
- United States
- Canada
- Mexico
- Europe
- United Kingdom
- Germany
- France
- Spain
- Italy
- Middle East & Africa
- Israel
- Turkey
- Saudi Arabia
- UAE
- South America
- Brazil
- Argentina
- Colombia
Competitive
Landscape
Company
Profiles: Detailed
analysis of the major companies present in the global industrial control and
factory automation market.
Available
Customizations:
With the given
market data, TechSci Research offers customizations according to a company’s
specific needs. The following customization options are available for the
report:
Company
Information
Detailed
analysis and profiling of additional market players (up to five).
Global
Industrial Control and Factory Automation Market is an upcoming report to be
released soon. If you wish an early delivery of this report or want to confirm
the date of release, please contact us at [email protected]