According to the *New Market Research Report, the global industrial control and factory automation market is expected to reach US$160 billion in 2018, and is expected to increase to US$269.5 billion by 2024, with a compound annual growth rate of 9.08%.
The increase in this market can be attributed to the increase in technology use in manufacturing, especially the adoption rate of industrial robots, supply chain upgrades and mass production to meet the ever-increasing population, plus government measures to promote each Industrial automation is used in all industries.
According to the report, the industrial robotics sector is growing at a significant rate during the forecast period and has a high component market share in the industrial control and factory automation markets. Manufacturers are installing industrial robots to make production and distribution simple and effective. The installation of industrial robots reduces manual intervention in the production process, thereby reducing manufacturing costs while improving quality and productivity. Articulated robots are expected to dominate the industrial robot market during the forecast period.
From the perspective of solutions, process automation and control in industrial manufacturing plants have driven the development of DCS (Data Control Systems). It is expected that during the forecast period, DCS will occupy a high market share in solutions for the industrial control and factory automation markets. Developing countries have expansion and capacity expansion plans related to the power sector, which will increase demand for DCS. The advantages of using a DCS system in a manufacturing plant are decision integrity, ease of operation, and increased productivity.
From a regional perspective, the Asia Pacific region is expected to become a large regional market for industrial control and factory automation. Due to technological innovation and the increasing popularity of automation technologies in various industries, the Asia Pacific region is the region where industrial control and factory automation markets are growing fast*. The main application industries in the industrial control and factory automation markets in the Asia Pacific region are chemicals, oil and gas, water, semiconductors, electronics, food and automobiles. China is one of the major players in the industrial control and factory automation markets in the Asia Pacific region. By implementing automation technology in manufacturing, China has been committed to innovative industrial practices. In addition, research institutions and companies are working together to improve China's manufacturing processes. In China, industrial intelligence and information integration remain the main focus of government industrial policy. This move is expected to increase the demand for industrial control and factory automation in the country.
From a business perspective, the main players in the industrial control and factory automation markets include Emerson (USA), ABB (Switzerland), Siemens (Germany), General Electric (USA), Schneider (France), Endress + Hauser (Switzerland), River (Japan), Honeywell (USA), WIKA (Germany), Azbil (Japan), Fuji Electric (Japan), 3D Systems (USA), HP (USA), FANUC (Japan).
The increase in this market can be attributed to the increase in technology use in manufacturing, especially the adoption rate of industrial robots, supply chain upgrades and mass production to meet the ever-increasing population, plus government measures to promote each Industrial automation is used in all industries.
According to the report, the industrial robotics sector is growing at a significant rate during the forecast period and has a high component market share in the industrial control and factory automation markets. Manufacturers are installing industrial robots to make production and distribution simple and effective. The installation of industrial robots reduces manual intervention in the production process, thereby reducing manufacturing costs while improving quality and productivity. Articulated robots are expected to dominate the industrial robot market during the forecast period.
From the perspective of solutions, process automation and control in industrial manufacturing plants have driven the development of DCS (Data Control Systems). It is expected that during the forecast period, DCS will occupy a high market share in solutions for the industrial control and factory automation markets. Developing countries have expansion and capacity expansion plans related to the power sector, which will increase demand for DCS. The advantages of using a DCS system in a manufacturing plant are decision integrity, ease of operation, and increased productivity.
From a regional perspective, the Asia Pacific region is expected to become a large regional market for industrial control and factory automation. Due to technological innovation and the increasing popularity of automation technologies in various industries, the Asia Pacific region is the region where industrial control and factory automation markets are growing fast*. The main application industries in the industrial control and factory automation markets in the Asia Pacific region are chemicals, oil and gas, water, semiconductors, electronics, food and automobiles. China is one of the major players in the industrial control and factory automation markets in the Asia Pacific region. By implementing automation technology in manufacturing, China has been committed to innovative industrial practices. In addition, research institutions and companies are working together to improve China's manufacturing processes. In China, industrial intelligence and information integration remain the main focus of government industrial policy. This move is expected to increase the demand for industrial control and factory automation in the country.
From a business perspective, the main players in the industrial control and factory automation markets include Emerson (USA), ABB (Switzerland), Siemens (Germany), General Electric (USA), Schneider (France), Endress + Hauser (Switzerland), River (Japan), Honeywell (USA), WIKA (Germany), Azbil (Japan), Fuji Electric (Japan), 3D Systems (USA), HP (USA), FANUC (Japan).
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