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Factory Automation Market – OverviewFactory automation refers to minimizing or restricting human interference in repetitive operational activities with the help of connected devices and machinery & equipment. According to the report published by Market Research Future (MRFR), the global Factory Automation Market has been projected to register 8% CAGR over the assessment period 2016 to 2022. The market is anticipated to gain prominence over the next couple of years and scale a valuation of USD 240 Bn by 2022.
The developments in IoT and IIoT has been widely accepted by end-user industries to use human productivity and channelize it to resourceful activities. In the process, the repetitive tasks have been allocated to machines, thus, paving way for the development of the Factory Automation Market. In addition, rising implementation of labor safety regulations has led the development of advanced technologies for the performance of tasks in hazardous scenarios. These factors are poised to drive the augmentation of the factory automation market in the forthcoming years.
The development of sensor, robotics, and AI technology has proven to be a major boost for the global market. Also, it is expected that the factory automation market will be witnessing innovations through the forecast period. This, in turn, is expected to augment the market place over the next few years.
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Industry Updates:
Dec 2019 Omron has commenced the sixth wave of its factory automation control devices manufactured on a shared design platform for additional innovation in control panel construction. To achieve this objective, Omron presented Panel Solution, a combined design and dimension for control panel equipment, along with the company’s exclusive wiring technique, screwless Push-In Plus technology.
Key Players
The prominent players in the Factory Automation Market are - Siemens AG, ABB Ltd, Emerson Electric Corporation, Rockwell Automation, Honeywell International Inc., Schneider Electric, Rexroth Bosch Group, Mitsubishi Electric Corporation, Yokogawa Electric Corporation, and Omron Corporation.
Market Segmentation:
The segmentation evaluation of the factory automation market is conducted on the basis of type, technology, end-user industries and region. Based on the type, the factory automation market is segmented into programmable automation, fixed automation, flexible automation and integrated automation. On the basis of technology, the factory automation market is segmented into Distributed Control System (DCS), Programmable Automation Controller (PAC), Supervisory control and data acquisition (SCADA), Human Machine Interface (HMI) and Programmable Logic Controller (PLC). Based on the end-user industries, the factory automation market is segmented into packaging & processing, semiconductor & electronics, automotive, energy & power, manufacturing, printing & converting and others. Based on the regions, the factory automation market comprises of APAC, North America, Europe and the other global regions.
Regional Analysis:
The regional investigation of the factory automation market encompasses regions such as APAC, North America, Europe and the other global regions. The continuing international trend concerning factory automation is being replicated in an upsurge in the number of industrial robots in the national U.S. market. Presently, factory automation has also paved the way for the establishment of robot training centers in countries such as Japan. Moreover, there has been a rising trend for factory automation in the Asia Pacific nations including Vietnam. As it has been proved that the use of industrial robots helps in saving time and growing product quality and production volume contributing to improving competitiveness.
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