Factory Automation and Industrial Controls Market

Global Factory Automation and Industrial Controls Market Size (2024 to 2029)

The global factory automation and industrial controls market is expected to be worth USD 239.73 billion by 2029 from USD 161.65 billion in 2024, growing at a CAGR of 8.2% during the foreecast period.

Factory automation and industrial control facilitate cost efficiency and quality of production; and standardize manufacturing, reliability, and adaptability within the process of production. Factory automation and industrial controls offer a perfect mixture of mechanical components and devices and knowledge Technology. Digitization and the Industry 4.0 revolution have significantly stimulated the expansion of automation among various industries by necessitating the utilization of smarter and automatic solutions, like robotics and control systems, to enhance production processes. The increasing adoption of intelligent systems, components, and smart machinery and equipment, for the development of processes through automation and self-optimization has resulted in the development of smart factories for planning, supply chain logistics, and merchandise development. 

MARKET DRIVERS

The global industrial control and factory automation market is being propelled forward by the growth of the linked business concept for improved production activities; effective information transfer between different units in industries is critical.

With the use of IoT and IP networks, it allows manufacturers to better comprehend the process of converting raw materials into completed commodities. With the help of IoT-enabled systems, field instruments can be tracked, raw material flow can be ensured, inventory status can be tracked, and commodities can be reported as they move through the supply chain. Companies that are connected have simple access to data flowing throughout the supply chain, allowing them to react quickly to changing market conditions. Manufacturers can use real-time data to lower inventory costs, detect cyber-threat issues, and produce in response to market demand.

The demand for advanced equipment and software systems is being driven by an increased need for increased productivity as well as the manufacture of high-quality products. Industrial control and factory automation can help meet this demand by providing contemporary production systems and methods.

MARKET RESTRAINTS

Initial capital inputs and reinvestments for maintenance are significant. When constructing a new automated manufacturing facility, the use of the latest automation technologies such as SCADA, DCS, RTU, PLC, and HMI is essential. SCADA data collection helps to reduce calculation errors while also enhancing product quality and industrial plant performance. To build up these manufacturing units, large financial investments in equipment, software, and training are required. As a result, before installing industrial control and factory automation systems and solutions, these businesses must conduct a thorough analysis of their return on investment, which hinders the global factory automation and industrial controls market growth.

MARKET OPPORTUNITIES 

Humans can be harmed by a variety of industrial manufacturing processes. Human errors or mechanical faults can result in deadly occurrences throughout the production process. As a result, the industrial sector must implement safety measures in order to avoid workplace accidents. Accidents are less likely when products that automate safety compliance are used. Safety automation devices, for example, alert operators in the event of an emergency and take pre-programmed procedures to reduce the risk to human life. They uncover flaws in various gear and processes and run diagnostics to find cures as rapidly as possible. As a result, these safety instrument systems are designed to react swiftly and reliably (SIS). According to the Occupational Safety and Health Administration (OSHA), the occurrence of significant occupational injuries and illnesses has reduced dramatically from 4.6 per 100 workers in 2019 to 1.6 per 100 workers in 2020, thanks to the deployment of safety components and industrial automation.

MARKET CHALLENGES

The market for factory automation and industrial control systems is quite competitive, with several prominent manufacturers. The market appears to be divided to a degree. The market's top companies are focusing their efforts on expanding their consumer base to encompass new countries. To enhance their market share and profitability, these companies rely on strategic collaboration ventures. Industry players are also buying start-ups working on factory automation and industrial control systems to increase their product capabilities.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Factory Automation and Industrial Controls Market Analysis By Component

Increased year-on-year robotic automation expenditure is projected to possess a positive impact on the demand for industrial robot systems. The installation of industrial robots reduces the dependence on humans in the manufacturing process, which decreases the production cost and improves quality and production capacity.

Global Factory Automation and Industrial Controls Market Analysis By Industry

Process industries pave the trail for digital data and analytics, which will reduce power grid costs by reducing operations and maintenance prices, improving power station and network efficiency, minimizing unplanned outages and downtime, and increasing the operational lifetime of assets. The mining and metals industry is predicted to witness the best growth rate in process industries during the forecast period. The adoption of automation in this field provides better productivity, ensures safety, minimizes wear, enhances reliability, and improves quality.

REGIONAL ANALYSIS

Europe's factory automation and industrial controls market holds a notable share of the global market. Europe is projected to be a serious consumer due to the extensive applications of factory automation and industrial controls in the automotive industry. Despite China accounting for 25% of the world’s manufacturing activities, its manufacturing productivity may be a mere one-fifth of that of the developed economies. As most of the automation equipment is transported from Germany and Japan, the ‘Made in China’ initiative aims to increase the Asia Pacific’s domestic production of automation hardware and equipment. The rest of the world market is projected to account for a relatively small share of the global factory automation and industrial controls market.

KEY MARKET PLAYERS

Companies playing a noteworthy role in the global industrial control and factory automation market are Emerson (US), ABB (Switzerland), Siemens (Germany), General Electric (US), Schneider (France), Endress+Hauser (Switzerland), Yokogawa (Japan), Honeywell (US), WIKA (Germany), Azbil (Japan), Fuji Electric (Japan), 3D Systems (US), HP (US), FANUC (Japan), STRATASYS (US), Progea (Italy), Hitachi (Japan), Vega (Germany), Danfoss (Denmark), Tegan Innovations (Ireland), Krohne (Germany), Rockwell (US), Chaos Prime (US), and Dwyer (US).

RECENT HAPPENINGS IN THE MARKET

• ABB collaborates with a start-up. Next-generation autonomous mobility robots will be guided by seven senses.

• ABB formed a strategic agreement with Seven Sense, a Swiss start-up launched in 2018 as a spin-off from ETH Zurich, to add artificial intelligence (AI) and 3D vision mapping technologies to its new autonomous mobile robotics (AMR) product. Mobile robots will be able to operate autonomously in complicated, dynamic indoor and outdoor areas near to people, giving clients unprecedented degrees of flexibility.

• With industrial-strength SCADA and high-performance HM, GE Digital's iFIX boosts productivity and process control.

• The company's high-performance automation software enables industrial operations to gain information faster and more efficiently. iFIX, which is part of the Proficy® software range, allows operators to see at a glance which information needs their attention and what action they need to take.

DETAILED SEGMENTATION OF THE GLOBAL FACTORY AUTOMATION AND INDUSTRIAL CONTROLS MARKET INCLUDED IN THIS REPORT

This research report on the global factory automation and industrial controls market has been segmented and sub-segmented based on the application, component, solution, industry, and region. 

By Application

• Flow 

• Level 

• Pressure 

By Component

• Industrial Robots 

• Machine Vision 

• Control Valves 

• Field Instruments 

• Human-Machine Interface 

• Industrial PC 

• Sensors 

• Industrial 3D Printing 

By Solution

• SCADA 

• PLC 

• DCS 

• MES 

• PLM 

• Functional Safety 

• PAM 

By Industry

• Process Industries 

  • Oil & Gas 

  • Power 

  • Food & Beverages 

  • Chemicals 

  • Metals & Mining 

  • Pulp & Paper 

  • Pharmaceuticals 

  • Others (Water and Wastewater, HVAC, Recycling, Plastics, Printing, Cement, Glass, Rubber, Agriculture, Furniture & Wood and Textile) 

• Discrete Industries 

  • Automotive 

  • Machine Manufacturing 

  • Semiconductor & Electronics 

  • Aerospace & Defense 

  • Medical Devices 

  • Others (Ceramics, Fabricating and Packaging Industries) 

By Region

• North America

  • The United States

  • Canada

  • Rest of North America

• Europe

  • The United Kingdom

  • Spain

  • Germany

  • Italy

  • France

  • Rest of Europe

• The Asia Pacific

  • India

  • Japan

  • China

  • Australia

  • Singapore

  • Malaysia

  • South Korea

  • New Zealand

  • Southeast Asia

• Latin America

  • Brazil

  • Argentina

  • Mexico

  • Rest of LATAM

• Middle East and Africa

  • Saudi Arabia

  • UAE

  • Lebanon

  • Jordan

  • Cyprus