Industrial Control and Factory Automation Market: Overview
Industrial control and factory automation system may consist
of equipment, computers, and IT software that reduce human interaction in
carrying out different processes in any industry. The automation system helps
in streamlining the processes, eliminating errors, increasing productivity, and
enhancing the overall operational efficiency. Increasing focus toward cost
reduction and the soaring need for precision in various processes have led to
the intensive demand of these equipment. The industrial control and factory
automation systems include distributed control systems (DCS), supervisory
control and data acquisition (SCADA), conveyer belts, programmable logic
controllers (PLC), robotic arms, conveyance systems, manufacturing execution
systems (MES), and enterprise resource planning (ERP) solutions.
The report on the global
industrial control and factory automation market provides an
in-depth insight into the current market scenario, key product offerings of
players, the current and emerging technology trends, restraining factors, and
market share and size of major segments. The factors influencing the demand for
industrial automation systems across various sectors are highlighted in the
report, which help stakeholders fully comprehend the key elements of the
competitive dynamics. Prepared with the help of inputs from a wide spectrum of
companies, global industry associations, thought leaders, and forward-looking
business executives, the research report analyzes a wealth of data to offer
valuable insights. The strategically important insights help market players
identify emerging opportunities and capitalize on the imminent investment
pockets.
Industrial Control and Factory Automation Market: Key
Drivers, Trends, and Opportunities
The global industrial control and factory automation market
is primarily driven by the increased focus on enhancing process efficiencies
and reducing the cost of production across various industry verticals. Coupled
with this, the increasing initiatives of the governments of various countries
toward the adoption of automation systems have propelled the growth of the global
market. Continuous advancement in industrial Internet technologies has spurred
the demand for industrial control and factory automation systems. The need for
smart manufacturing processes and connected supply chains has led to the
persistent demand for automation systems for businesses.
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Considerable capital investment required for installing
industrial control and factory automation equipment and the lack of expertise
in handling these equipment are likely to impede the growth of the global
industrial control and factory automation market to some extent. However, the
introduction of user-friendly and intuitive automation system and the
cost-effective models of adopting industrial control and factory automation
systems are expected to create exciting growth opportunities for market
players. Furthermore, the mass customization of factory automation products is
anticipated to stimulate the demand for automation systems. In addition, the
initiatives to reduce the risks of exposure to different production hazards for
workers are expected to offer momentum to the market.
Industrial Control and Factory Automation Market:
Competitive Landscape
The market players are actively involved in the mass
standardization of products that will reduce adoption cost. Leading vendors and
developers of ERP solutions are offering on-demand customization to meet the
specific requirements of different businesses. To bring down the implementation
cost, they are increasingly providing automation solutions as cloud-based
offering. Global manufacturers and suppliers are merging with the regional
players in emerging regions, particularly Asia Pacific, to capitalize on the
immense opportunities in the industrial control and factory automation market.
Major players in the global the industrial control and
factory automation market include ABB, Schneider Electric, Siemens, Rockwell
Automation, Emerson Process Management, Yokogawa, Honeywell, Ametek Inc, Aspen
Technology Inc, and Omron.
This study by TMR is all-encompassing framework of the
dynamics of the market. It mainly comprises critical assessment of consumers'
or customers' journeys, current and emerging avenues, and strategic framework
to enable CXOs take effective decisions.
Our key underpinning
is the 4-Quadrant Framework EIRS that offers detailed visualization of four
elements:
- Customer Experience
Maps
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and Tools based on data-driven research
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to meet all the business priorities
- Strategic
Frameworks to boost the growth journey
The study strives to evaluate the current and future growth
prospects, untapped avenues, factors shaping their revenue potential, and
demand and consumption patterns in the global market by breaking it into
region-wise assessment.
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The following
regional segments are covered comprehensively:
- North
America
- Asia
Pacific
- Europe
- Latin
America
- The
Middle East and Africa
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