Industry Controls and Factory Automation Market An Objective Assessment Of The Trajectory Of The Market By 2030
Industry Controls and Factory Automation Market Synopsis Industry Controls Factory Automation Market is projected to be worth USD 272.17 billion by 2030, registering a CAGR of 9.30% during the forecast period (2022 - 2030). As per the analysis by Market Research Future Reports (MRFR), the global industry controls and factory automation market 2020 is projected to be negatively affected by the outbreak of COVID-19. The industrial sector has been facing restrictions prevailing and has affected the supply chains of the factories significantly. The increasing usage of technologies in the manufacturing sector has played a major role in expanding the global industry controls and factory automation market. Besides, there has been a surge in the adoption of industrial robots in the manufacturing sector influenced by the collaborative robots, industrial automation in several sectors, and the growing initiatives are taken by the government have further propelled the market. Besides, mee