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, meeting the increasing demand of the rising
population and the inclination towards industrial automation and optimum
utilization of resources are some of the most significant factors augmenting
the market expansion. The research reveals the global industry controls and
factory automation market is estimated to rise at a CAGR of 9.30% during the
review period.
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Market Segmentation
The global industry controls and
factory automation market is classified on the basis of solution, industry, and
component. On the basis of end-use, the global industry controls and factory
automation market can be classified into the process industry, which consists
of Oil & Gas, Mining & Metals, Paper & Pulp, Food &
Beverage, Chemicals, Power, Pharmaceuticals, and others. The discrete
industry consists of Aerospace & Defense, Semiconductor &
Electronics, Medical Devices, Automotive, Machine Manufacturing, and
others. The mining and metals industry is estimated to lead the industry
controls and factory market owing to its association with the extraction of
mineral and metal reserves and fabrication of metals. On the basis of technology, the global
industry controls and factory automation market can be classified into chemicals,
oil and gas, pharmaceuticals, mining and metals, power, and others. On the
basis of region, the global industry controls and factory automation market can
be classified into the Asia Pacific, North
America, Europe, and the Middle East & Africa, and South America.
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Regional Analysis
The geographical
analysis of Asia Pacific, North America, Europe, and the Middle East &
Africa, and South America had been conducted. As per the analysis by MRFR, the
APAC region. Among all nations in APAC, China, and India is estimated to
contribute significantly to the market growth. The rapid urbanization and
rising competition is the factor driving the regional market. Moreover, sectors
such as food and beverage, power generation, pharmaceutical, and chemicals are
expanding at a fast pace, which is propelling the regional market. However, the
outbreak of COVID-19 has brought a significant impact on the market. China is
making attempts to retrieve its production activities since it acquires the forefront
position of the global installation and production of automation and robotics.
The pandemic has caused a significant reduction in exports due to the disrupted
supply chain and spread of the pandemic. Besides, the spread of COVID-19 in
Europe and North America is causing additional troubles for the Chinese
manufacturing businesses, which influences the global market. The second
position is attained by North America. The market is estimated to grow
significantly in the forthcoming period. The region has a strong presence of
established ley players, which augments the market in the region.
Key Players
The forefront players of the global industry controls and factory
automation market are Emerson, ABB, Schneider Electric, Mitsubishi Electric
Corporation, Siemens, Rockwell Automation, Honeywell, General Electric,
Yokogawa, Omron, Fanuc, Endress+Hauser, Wika, Dwyer, 3D Systems, Stratasys, and
HP.
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