According to the new market research report “Industrial Control and Factory Automation Market by Technology (SCADA, PLC & RTU, DCS, MES, HMI, and Safety), Component (Industrial Robot, MACHINE Vision, Valve, Control Device, and Field Instrument), Industry, & Geography – Global Forecast to 2020“, published by MarketsandMarkets, the Industrial Control and Factory Automation Market is expected to reach USD 202.42 Billion by 2020 at a CAGR of 6.73% from 2015 to 2020, which includes an in-depth analysis of the technology, component, industry and geography.
The growing demand of automation in various processes of the manufacturing sector is mainly due to increasing need of operational efficiency and increase in productivity along with optimal usage of resources. Furthermore, with the adoption of IOT and advancement in M2M communication, the implementation of automation technologies in factories has increased tremendously. The industrial control and factory automation market is also driven by the adoption of various policy reforms by governments. Smart manufacturing policies released by the Government of China focuses on consolidation of relationship with government and industry associations, and enhanced R&D innovation.
This report describes the market trends, drivers, and challenges with respect to the industrial control and factory automation market and forecasts the market up to 2020. This global report gives a detailed view of the market across four regions, namely, the Americas, Europe, Asia-Pacific, and RoW. Americas and Europe are the largest markets; however, Asia-Pacific has been identified as the fastest growing market. The report profiles the 10 most promising players in the industrial control and factory automation market. In 2014, the total industrial control and factory automation market was valued at USD 135.28 billion. The top nine companies accounted for the largest share in total industrial control and factory automation market.
The report provides an overview of the prevailing competitive scenario within the industrial control and factory automation (ICFA) market. As part of this, a market share analysis has been carried out on the basis of the revenue generated by key players from various business segments in the overall industrial control and factory automation market. Beyond this, a benchmarking of the strategies adopted by the key players within the ICFA market has also been carried out from January 2013 to April 2015. This involves the analysis of developments such as new product launches, contracts, acquisitions, collaborations, partnerships, agreements, and expansions.
The Industrial Control And Factory Automation Market comprises control system manufacturers, field components manufacturers, system integrators, and software manufacturers. All these players are associated with each other to provide technologically advanced automation solutions to end users. The industrial control and factory automation market is, at present, witnessing a spree of new product launches, acquisitions, agreements, collaborations, partnerships, joint ventures, new product developments, and new software developments among players, which is resulting in a lot of opportunities.
Major players in this market include Siemens AG (Germany), Emerson Electric Co. (U.S.), General Electric Company (U.S.), Schneider Electric SA (France), ABB, Ltd. (Switzerland), Honeywell International (U.S.), Mitsubishi Electric (Japan), Yokogawa Electric (Japan), Rockwell Automation (U.S.), and Johnson Controls (U.S.).
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