Global Factory Automation market size was valued US$ XX Bn. in 2019 and the total revenue is expected to grow at 9.5% through 2020 to 2027, reaching US$ XX Bn.
The factory automation is an increasing trend in manufacturing industry that enhance the productivity and quality of products and simultaneously decrease the production cost. It reduces human intervention in the industry and confirms a greater performance than humans. It includes the usage of computers, control systems, information technologies and robots, to handle industrial processes. Transformation of traditional factories into smart factories owing to advancements in technologies, are projected to impelling the market growth in the forecast period.
The report study has analyzed the revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
The global factory automation market is driven by the requirement of mass manufacturing of products with reduced operation cost, an increase in demand for automation for qualitative and reliable manufacturing, and a rise in the adoption of robots in the global manufacturing industry. Initiatives undertaken by governments of different countries to promote the adoption of factory automation is also fueling the market growth during the forecast period. However, Limited availability of professionals and awareness regarding security, high initial capital investments, and re-investments for factory automation systems and solutions are restraining the market growth at the global level. Increased demand for safety compliance automation solutions, and surge in adoption of industry 4.0 and enabling technologies industries are expected to create beneficial opportunities for the key player in the market during the forecast period. Rise in instances of automated cyber-attacks, and lack of skilled workforce to run factory automation devices and systems are the major challenge for the Factory Automation market in the near future.
Based on the components, the industrial robots segment has led the factory automation market in 2019 and is estimated to generate more than US$ XX Mn market revenue by 2027, with a CAGR of XX%. Manufacturers are employing industrial robots to make production and distribution are more easy and efficient. The installation of industrial robots is reducing human intervention in the production process, thereby reducing the cost of manufacturing with enhanced quality and augmented production capacity.
Geographically, the Factory Automation market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe held the prominent market share of XX% in 2019 and is expected to reach US$ Mn by the end of 2027, with a CAGR of XX%. Thanks to the presence of key factory automation companies such as Siemens, ABB, Schneider, and others and also the Industry 4.0 initiative to improve manufacturing productivity. The extensive use of allowing technologies such as big data, artificial intelligence, and cybersecurity in manufacturing, constant innovation in industrial robotics, and the need for mass production propelling the market growth in the region.
The market in Asia Pacific is expected to grow at a high CAGR of XX% during the forecast period owing to technological innovations and the high adoption of automation technologies in various industries. Increasing demand for automation in emerging countries such as China, India, and Japan are contributing to regional market growth. Among these, the Chinese market held the largest market share of XX% in 2019. China has been working on an innovative industrial practice by applying automation technologies in manufacturing. Also, research institutes and corporates are collaboratively working to advance China's manufacturing processes. Companies such as Honda (Japan), Toyota (Japan), and Suzuki (Japan) are emerging smart factories for manufacturing sensors, robots, wireless technologies, and machine vision systems. This demand is boosting the growth of the factory automation market in Japan.
The objective of the report is to present a comprehensive analysis of the Global Factory Automation Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Factory Automation Market dynamics, structure by analyzing the market segments and project the Global Factory Automation Market size. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Factory Automation Market make the report investor’s guide.
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Scope of the Global Factory Automation Market:
Global Factory Automation Market, by Control Systems:
• Distributed Control System (DCS)
• Supervisory Control and Data Acquisition System (SCADA)
• Manufacturing Execution System (MES)
• Safety Instrumented System (SIS)
• Programmable Logic Controller (PLC)
• Human Machine Interface (HMI)
Global Factory Automation Market, by Components:
• Switches & Relays
• Industrial Robots
Global Factory Automation Market, by Type:
• Fixed Automation
• Programmable Automation
Global Factory Automation Market, by End Users:
• Automotive Manufacturing
• Food & Beverage
• Oil & Gas Processing
Global Factory Automation Market, by Region:
• Asia Pacific
• North America
• Latin America
• Middle East Africa
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