Industry Controls and Factory Automation Market Overview:
Industry Controls and Factory Automation Market Size was valued at USD 125.5 Billion in 2022. The Industry Controls and Factory Automation market industry is projected to grow from USD 137.2 Billion in 2023 to USD 279.4 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 9.30% during the forecast period (2023 - 2032). Initiatives by the government to support industrial automation and the expanding significance of energy efficiency and cost reduction, are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Industry Controls and Factory Automation Market Trends
Growing importance of energy efficiency and cost reduction is driving the market growth
Employment in the manufacturing sector has declined in the United States over the previous 25 years. Rising labor costs, pressure to lower prices, and rising material costs are these industries' key issues. Additionally, uneven productivity is reflected in the variable unit labor costs in the US, which has sped up the adoption of automation in the industrial sector and reduced manufacturing prices. Despite the importance of risk management, businesses are more conscious of the specific traits that make technology a profit driver at any given moment of the industrial cycle. The susceptibility to changes in material costs has also diminished as a result of material savings from increased worker productivity. Automation offers adaptability in response to fluctuating demand levels, improving overall profitability and competitiveness, especially when prices are low, and is carried out with the same cyclical effects in mind. The Institute for Supply Management's Manufacturing Business Survey Committee reports that industrial material costs grew in 2020 after falling the year before.
To secure the overall development of their countries, governments all over the world support industry growth. Utilization of multiple automation and communication components and technologies is a result of the structural growth of the industries. The development of the discrete and process industries is a priority for governments. The national manufacturing policy (NMP) of the government is what's driving the expansion of India's manufacturing sector. One of the initiatives the Indian government has introduced to encourage companies to automate their manufacturing plants is the Make in India program.
Small standalone units to several linked, expansive work cells dispersed around the manufacturing floor make up the automation systems. Every system is made to perform a specific duty, which lowers costs, improves quality, increases operator safety, and increases output. Technologies like analytics, cloud computing, and mobility are assisting businesses in effectively achieving their goals. Additionally, the expansion of smart manufacturing, which embraces and adopts the benefits of internet connectivity, is being driven by the penetration of Internet of Things (IoT) in factory automation. For instance, Emerson Electric Co. will introduce TopWorx DX Partial Stroke Test with HART 7 in May 2022. This new automation solution boosts safety and automation by enabling a separate emergency shutdown valve.
Additionally, technological advancement, expanding infrastructure opportunities, and increased operational efficiency demands all influence factory automation. Automation is anticipated to improve nations and businesses by ushering in a new stage of economic growth. It is anticipated to have a substantial impact on a variety of companies, shareholders, business strategies, and helpful government policies to encourage adoption across industries globally. Due to increased knowledge of cloud computing platforms and advancements in semiconductor and electronic device technology, the automation sector is anticipated to rise during the forecast period. Thus, driving the Industry Controls and Factory Automation market revenue.
Industry Controls and Factory Automation Market Segment Insights:
Industry Controls and Factory Automation Component Insights
The Industry Controls and Factory Automation Market segmentation, based on Component, includes Industrial Robots, Machine Vision, Control Valves, HMI, Industrial PC, and Industrial 3D Printing. Industrial robots segment accounted for the largest revenue share in 2022. This increase is due to manufacturing companies using more industrial robots and advanced machinery to optimize processes that require efficiency, durability, and accuracy. Additionally, 3D printing in industry expanded significantly. Due to strong three-dimensional printing research and development efforts as well as increased demand for prototype applications from several industrial verticals, including healthcare, automotive, aerospace, and military, the sector is expected to grow.
Industry Controls and Factory Automation Solution Insights
The Industry Controls and Factory Automation Market segmentation, based on Solution, includes SCADA, PLC, DCS, PAM, PLM, and MES. DCS segment dominated the Industry Controls and Factory Automation Market in 2022. The market expansion of a DCS is being driven by the swift adoption of IIOT. Due to the rising use of industry 4.0, the Supervisory Control and Data Acquisition (SCADA) market is anticipated to expand at a significant CAGR.
Figure 1: Industry Controls and Factory Automation Market, by Solution, 2022 & 2032 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Industry Controls and Factory Automation Regional Insights
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Industry Controls and Factory Automation Market dominated this market in 2022 (45.80%). Due to a sharp rise in competition and rising end-user demands, manufacturing facilities in the area have been driven to adopt the newest technological advancements and digital transformation capabilities to improve the efficiency and effectiveness of their business processes. Further, the U.S. Industry Controls and Factory Automation market held the largest market share, and the Canada Industry Controls and Factory Automation market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Figure 2: Industry Controls and Factory Automation Market Share By Region 2022 (USD Billion)
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe Industry Controls and Factory Automation market accounted for the healthy market share in 2022. The area's industrial facilities have been forced to implement the newest technological breakthroughs and digital transformation capabilities to optimize their business operations due to a rapid increase in competitiveness and rising end-user demands. As a result, there has been a considerable expansion. Industrial automation products are being sold by large organizations and employed in a variety of local industries, including the automotive, healthcare, manufacturing, and others. Further, the German Industry Controls and Factory Automation market held the largest market share, and the U.K Industry Controls and Factory Automation market was the fastest growing market in the European region
The Asia Pacific Industry Controls and Factory Automation market is expected to register significant growth from 2023 to 2032. The presence of important market participants and emerging firms is what is driving this robust expansion. The rise of the market in this region is being driven by the increased need for better industrial plant management systems in China and India. Traditional manufacturing facilities frequently find their way into "smart factories," which contributes to the general public's increased acceptance of industrial automation. Additionally, small and medium-sized businesses in India can adopt cutting-edge manufacturing methods thanks to government initiatives like Make in India and MSME. Moreover, China’s Industry Controls and Factory Automation market held the largest market share, and the Indian Industry Controls and Factory Automation market was the fastest growing market in the Asia-Pacific region.
Industry Controls and Factory Automation Key Market Players & Competitive Insights
Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Industry Controls and Factory Automation market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Industry Controls and Factory Automation industry must offer cost-effective items.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Industry Controls and Factory Automation industry to benefit clients and increase the market sector. In recent years, the Industry Controls and Factory Automation industry has offered some of the most significant advantages to medicine. Major players in the Industry Controls and Factory Automation market, including Emerson, ABB, Siemens, Schneider Electric, General Electric, Rockwell Automation, Yokogawa, Honeywell, Endress+Hauser, Omron, Wika, Fanuc, Stratasys, Mitsubishi Electric Corporation, Dwyer, and 3D Systems, are attempting to increase market demand by investing in research and development operations.
Electricity and automation technology and solutions are offered by ABB Ltd (ABB). The business provides goods, systems, services, and solutions for electrification, motion, and industrial automation. Its offers harness power reliability, boost industrial productivity, and improve energy efficiency, and its solutions incorporate engineering know-how and software. ABB offers its goods directly to consumers as well as through third-party channel partners as distributors, installers, wholesalers, machine manufacturers, original equipment manufacturers, and system integrators. The company offers customers in the utilities, industry, transportation, and infrastructure sectors throughout Asia, the Americas, the Middle East, Africa, and Europe industrial equipment and systems that are digitally connected and enabled. The headquarters of ABB are in Zurich, Switzerland. ABB Ltd. increased its industrial footprint across the United States in September 2022 thanks to an investment in new EV charging infrastructure in the area. This investment should benefit ABB Ltd.
An organization that offers environmental management solutions is Suez SA (Suez), formerly known as Suez Environment Company. Its service offering includes wastewater treatment and reuse, water regulation, control of the water cycle, production and supply of drinking water, and water distribution and treatment services. Sorting and dismantling, collection and logistics, sanitation, landfilling of non-hazardous and hazardous trash, and urban development services are only a few of the company's recycling and waste recovery services. Suez provides services to the food and beverage, chemical and pharmaceutical, building, site decontamination, and soil industries, as well as the oil and gas, petrochemical, pulp and paper, healthcare, retail, automotive, and aerospace industries. Asia Pacific, Europe, the Americas, Africa, and the Middle East are all regions where the company conducts business. Paris, Ile-de-France, France, serves as the headquarters for Suez. Suez, an American water services provider, and Schneider Electric teamed together in March 2021 to create a joint venture to provide cutting-edge digital solutions for water cycle management.
Key Companies in the Industry Controls and Factory Automation market include
- Schneider Electric
- General Electric
- Rockwell Automation
- Mitsubishi Electric Corporation
- 3D Systems
Industry Controls and Factory Automation Industry Developments
April 2021: Industrial automation solution firm Pollux was acquired by Accenture plc. Accenture plc wants to use Pollux's experience and knowledge of automation and robotics solutions, therefore this acquisition fits with that goal.
Industry Controls and Factory Automation Market Segmentation:
Industry Controls and Factory Automation Component Outlook
- Industrial Robots
- Machine Vision
- Control Valves
- Industrial PC
- Industrial 3D Printing
Industry Controls and Factory Automation Solution Outlook
Industry Controls and Factory Automation Regional Outlook
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Rest of the World
- Middle East
- Latin America
Market Size 2022
USD 125.5 Billion
Market Size 2023
USD 137.2 Billion
Market Size 2032
USD 279.4 Billion
Compound Annual Growth Rate (CAGR)
Market Forecast Period
Market Forecast Units
Value (USD Billion)
Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Component, Solution, and Region
North America, Europe, Asia Pacific, and the Rest of the World
The U.S., Canada, German, France, U.K, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
Key Companies Profiled
Emerson, ABB, Siemens, Schneider Electric, General Electric, Rockwell Automation, Yokogawa, Honeywell, Endress+Hauser, Omron, Wika, Fanuc, Stratasys, Mitsubishi Electric Corporation, Dwyer, and 3D Systems
Key Market Opportunities
Implementing industry 4.0 manufacturing concepts
Key Market Dynamics
Government initiatives to promote industrial automation and growing importance of energy efficiency and cost reduction
Frequently Asked Questions (FAQ) :
The Industry Controls and Factory Automation Market size was valued at USD 125.5 Billion in 2022.
The global market is projected to grow at a CAGR of 9.30% during the forecast period, 2023-2032.
North America had the largest share in the global market
The key players in the market are Emerson, ABB, Siemens, Schneider Electric, General Electric, Rockwell Automation, Yokogawa, Honeywell, Endress+Hauser, Omron, Wika, Fanuc, Stratasys, Mitsubishi Electric Corporation, Dwyer, and 3D Systems
The Industrial Robots Component dominated the market in 2022.
The DCS Solution had the largest share in the global market.
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