Publishing: September 2021 | Report Code: SE10547 | Available Format: PDF
The manufacturing industries are facing stiff government norms and regulation, towards the energy efficiency and reduction of carbon footprints to tackle the environment problems, including global warming. The ‘green’ and ‘smart’ are expected to be the future of industrial control & factory automation in the coming five to six years. Moreover, the lowering profit margin along with the increasing product homogeneity has also increased the demand of advanced control & factory automation in the manufacturing industries. Technology convergences along with the wireless automation are two of the trending developments in the global industrial control & factory automation market. The growth of industrial internet of things (IIoT), along with the growing penetration of M2M communication in the industrial application is driving the process automation in the manufacturing industries.
The lack of skilled labor, in addition to high installation and maintenance cost of the industrial control & factory automation equipment are hindering the growth of the market up to some extent, especially in the cost sensitive developing countries. Furthermore, the free-fall in the oil and gas prices has also affected the growth of the industrial control & factory automation market, since oil and gas industry is its major end user. However, the other processing industries including food and beverages processing has witnessed lucrative growth over the past few years, which in turn is driving the growth of the global industrial control automation market. Brazil, Russia, India, China and South Africa (BRICS) are expected to witness the fastest growth during the forecast period. The market of industrial control & factory automation in the developed countries of North America and Europe are expected to witness below average growth.
Geographically, Asia-Pacific accounted for the largest market of industrial control & factory automation in 2014. The emergence of China as a global manufacturing hub, along with the increasing penetration of advanced automation technology in the processing industries of the region is the major growth driver of the market. The North American and European market of industrial control & factory automation are growing moderately. The growth in these regions is mainly anticipated from the replacement of existing automation technology with smart and more ecofriendly industrial automation technology. Country wise, Germany, the U.K., Italy, the U.S., and Canada are expected to be the major markets in the developed region.
Some of the competitors in the global industrial control & factory automation market are Emerson Electric Corporation, Schnieder Electric, General Electric, Johnson Controls Inc., Honeywell International Inc., Rockwell Automation Inc., and Siemens AG.
Global Industrial Control & Factory Automation Market Segmentation
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