Industrial Control and Factory Automation Market Size, Share, Trends, Outlook, Growth, Challenges and Analysis Report

Kenneth Research, in its repository of market research reports, has recently added a report on Industrial Control and Factory Automation Market that emphasizes the latest trends, key opportunities, drivers, and challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Industrial Control and Factory Automation Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Industrial Control and Factory Automation Market products.

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The global Industrial Control and Factory Automation Market was valued at USD 145.23 billion in 2016 and is projected to reach USD 275.19 billion by 2025, growing at a CAGR of 7.36% from 2017 to 2025.

Industrial control system (ICS) is a general term that encompasses several types of control systems and associated instrumentation used for industrial process control. Such systems can range from a few modular panel-mounted controllers to large interconnected and interactive distributed control systems with many thousands of field connections. All systems receive data received from remote sensors measuring process variables (PVs), compare these with desired set points (SPs) and derive command functions which are used to control a process though the final control elements (FCEs), such as control valves.

Market Dynamics:
1. Market Drivers
1.1 Increasing Use of Enabling Technologies in Manufacturing
1.2 GrowingInnovation in Industrial Robotics Boosts Its Adoption in Manufacturing
1.3 Growing Need for Mass Production
1.4 Government Initiatives Toward the Adoption of Industrial Automation

2. Market Restraints
2.1 High Capital Investment
2.2 Declining Oil and Gas Prices Affect Infrastructure-Related Investment

Market Segmentation:
1. Global Industrial Control and Factory Automation Market, by Component:
1.1 Industrial Robots
1.1.1 Articulated Robots
1.1.2 Cartesian Robot
1.1.3 Selective Compliance Assembly Robot Arm (SCARA)
1.1.4 Parallel Robot
1.1.5 Cylindrical Robots
1.2 Machine Vision
1.2.1 Cameras
1.2.1.1 Analog Camera
1.2.1.2 Digital Camera
1.2.1.3 Smart Camera
1.2.2 Frame Gabber, Optics, & Led Lighting
1.2.3 Processors and Software
1.3 Control devices
1.3.1 Servo Motors
1.3.2 Drives
1.4 Control valves
1.5 Field Instruments
1.5.1 Transmitters
1.5.2 Flowmeters
1.6 Human-Machine Interface
1.7 Industrial PC
1.8 Sensors
1.9 Industrial 3D printing

2. Global Industrial Control and Factory Automation Market, by Solution:
2.1 Supervisory Control and Data Acquisition (SCADA)
2.2 Programmable Logic Controller (PLC)
2.3 Distributed Control System (DCS)
2.4 Manufacturing Execution System (MES)
2.5 Product Life Cycle Management (PLM)
2.6 Functional Safety
2.7 Plant Asset Management (PAM)

3. Global Industrial Control and Factory Automation Market, by Industry:
3.1 Process Industry
3.1.1 Oil & Gas
3.1.2 Chemicals
3.1.3 Paper & Pulp
3.1.4 Pharmaceuticals
3.1.5 Mining & Metals
3.1.6 Food & Beverages
3.1.7 Power
3.1.8 Water & Wastewater Management
3.2 Discrete Industry
3.2.1 Automotive
3.2.2 Machine Manufacturing
3.2.3 Semiconductor & Electronics
3.2.4 Aerospace & Defense
3.2.5 Medical Devices
3.2.6 Others

4. Global Industrial Control and Factory Automation Market, by Region:
4.1 North America (U.S., Canada, Mexico)
4.2 Europe (Germany, UK, France, Rest of Europe)
4.3 Asia Pacific (China, India, Japan, Rest of Asia Pacific)
4.4 Latin America (Brazil, Argentina, Rest of Latin America)
4.5 Middle East & Africa

Competitive Landscape:
The major players in the market are as follows:
1. ABB
2. Emerson
3. Rockwell
4. Siemens
5. General Electric
6. Schneider
7. Yokogawa
8. Omron
9. Mitsubishi
10. Honeywell

These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.

RESEARCH METHODOLOGY OF VERIFIED MARKET RESEARCH:
Research study on the Industrial Control and Factory Automation Market was performed in five phases which include Secondary research, Primary research, subject matter expert advice, quality check and final review.

The market data was analyzed and forecasted using market statistical and coherent models. Also market shares and key trends were taken into consideration while making the report. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis.

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