January 22 2020
Market Research Future published a research report on “Factory Automation Market Research Report- Global Forecast 2022” – Market Analysis, Scope, Stake, Progress, Trends and Forecast to 2022.
The global factory automation market is anticipated to surpass a valuation of USD 240 billion, attaining 8.59% of CAGR during the forecast period (2016-2022), Market Research Future (MRFR) unveils in a detailed report.
The global factory automation market has witnessed a tectonic surge over the past few years. The evolution of innovations and technological advancements across manufacturing units have highly influenced the adoption of automation technologies. Industry 4.0 and digitization have stimulated the growth of automation among industries by necessitating the use of solutions like control systems and robotics in order to enhance production processes. By minimizing production cost and manufacturing time, automation has transformed the way of production in the industrial sector. Production lines in factories were manual earlier. Despite improvements made in assembly technologies, like smarter reflow ovens and faster pick-and-place machines, back-end operations were non-automated. Therefore, there has been a notable rise in labor cost. Factory Automation can thus cause a reduction in operation, production, and labor costs.
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Factory automation fulfills the demand for mass production in industries due to its attributes like enhanced quality, minimal human intervention, and fewer labor costs. The demand for factory automation is also high due to the surging adoption of IoT enabled smart technologies and Industry 4.0 trend.
On the contrary, the dearth of professionals, high investment, and inadequate awareness about security are some of the major concerns likely to restrict the growth of the market across the globe.
The prominent players in the Factory Automation Market are - Siemens AG, ABB Ltd, Emerson Electric Corporation, Rockwell Automation, Honeywell International Inc., Schneider Electric, Rexroth Bosch Group, Mitsubishi Electric Corporation, Yokogawa Electric Corporation, and Omron Corporation.
The global factory automation market is segmented on the basis of type, technology, and end user industry.
Regional Analysis of Factory Automation Market:
Geographically, the global factory automation market spans across North America, Asia Pacific, Europe, and Rest of the World (RoW).
Considering the global scenario, Asia Pacific is considered to expand at the fastest rate and is predicted to exhibit a high growth rate. Government initiatives to increase domestic production and manufacturing and surging adoption of technology in the region is likely to augment the market growth in the region. Meanwhile, the high cost of installing automation solutions is one of the major concerns restricting the growth of the regional market. In the APAC, China is considered to hold a major share. Companies in China are highly embracing Industry 4.0 to improve productivity. Chinese government’s programs like the Made in China 2025 plan are influencing the use of R&D in factory automation and technologies. As most of the automation equipment is imported from Japan and Germany, the ‘Made in China’ initiative focuses on expanding the nation’s domestic production of equipment and hardware.
China is considered one of the fastest-growing countries in the world with a very high industrial production rate. This is likely to drive the automation market in the country. Investments are planned to address concerns related to the environment, aid the quality of growth, and reduce overcapacity. The number of companies deploying process and factory automation technologies and robotics is less compared to the huge size of China’s manufacturing base and the number of workers the country employs. This trend is likely to present huge growth opportunities for companies in the industrial automation industry in the country.
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TABLE OF CONTENTS
List of Tables
TABLE 1 GLOBAL FACTORY AUTOMATION MARKET, BY TYPE, 2016-2022 (USD BILLION) 17
TABLE 2 GLOBAL FIXED AUTOMATION IN FACTORY AUTOMATION MARKET, 2016-2022 (USD BILLION) 18
TABLE 3 GLOBAL PROGRAMMABLE AUTOMATION IN FACTORY AUTOMATION MARKET, 2016 & 2022 (USD BILLION) 19
TABLE 4 GLOBAL FLEXIBLE AUTOMATION IN FACTORY AUTOMATION MAREKT, 2016-2022 (USD BILLION) 20
TABLE 5 GLOBAL INTEGRATED AUTOMATION IN FACTORY AUTOMATION MAREKT, 2016-2022 (USD BILLION) 21
TABLE 6 GLOBAL FACTORY AUTOMATION MARKET, BY TECHNOLOGY, 2016- 2022 (USD BILLION) 23
TABLE 7 GLOBAL SUPERVISORY CONTROL & DATA ACQUISTION (SCADA) IN FACTORY AUTOMATION MARKET,
Know More about this Report @ https://www.marketwatch.com/press-release/factory-automation-market-size-share-trends-growth-factors-development-status-historical-analysis-competitive-landscape-opportunity-assessment-and-regional-forecast-to-2022-2019-03-01
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