Industrial control, factory automation to $239.11 billion

The industrial control and factory automation market is expected to reach $239.11 billion by 2023 from $155.26 billion in 2017 at a CAGR of 7.4% between, driven by extensive use of enabling technologies in manufacturing, continuous innovation.

MES integrates all the activities from planning to automation in the manufacturing automation plants. The activities include resource allocation and status, operation scheduling, dispatching, document control, management of resources, quality management, maintenance management, tracking and tracing of product, and performance analysis. The manufacturers are adopting MES because it saves costs, provides operational efficiency, and delivers high performance in production. 

The key players in the industrial control and factory automation market are Siemens (Germany), ABB (Switzerland), Emerson (US), Mitsubishi (Japan), and Schneider (France), Rockwell (US), General Electric (US), Yokogawa (Japan), Omron (Japan), and Honeywell (US).

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The industrial control and factory automation market in Asia Pacific (APAC) is expected to grow at the highest CAGR between 2017 and 2023. China is one of the major countries supporting the growth of industrial control and factory automation in this region. China has been working on innovative industrial practices by implementing automation technologies in manufacturing companies. Moreover, the research institutes and system integrators are collaboratively working to improve the manufacturing processes in China. Furthermore, in China, industrial intellectualization and information integration is the main focus of the government industrial policy. These initiatives are expected to increase the demand for industrial control and factory automation in this country.

The industrial control and factory automation market for discrete industry to grow at highest CAGR between 2017 and 2023. The discrete industry is expected to be driven by the rapid adoption of advanced manufacturing solutions by manufacturers to improve visibility, operational excellence, and quality while reducing the lead-time. The discrete industry includes automotive, machine manufacturing, semiconductor & electronics, aerospace & defense, medical devices, and others that use automation as it improves consistency of processes, increases throughput, improves quality, reduces operation and workhandling time, reduces manual work, and provides a high degree of safety.

The industrial robots to hold largest share of industrial control and factory automation market by 2023. Industrial robots are re-shaping manufacturing industries by decreasing the manual labor. Industrial robots are used in industrial plants to provide the best outcome with no errors from a remote location. Major drivers, restraints, opportunities, and challenges for the industrial control and factory automation market have been detailed in this report.

The research report analyzes the industrial control and factory automation based on solution, enabling technology, component, industry, and geography. The market has been segmented by solution into supervisory control and data acquisition (SCADA), programmable logic controller (PLC), distributed control system (DCS), manufacturing execution system (MES), product lifecycle management (PLM), functional safety, and plant asset management (PAM); by component into industrial robots, machine vision, control valves, control devices, field instruments, industrial 3D printing, human–machine interface (HMI), and industrial PC; The industries implementing automation are process and discrete industries. The report covers the market segmented on the basis of 4 major regions – North America, Europe, Asia Pacific (APAC), and Rest of the World (RoW).