Emphasis on Cost-Cutting and Business Process Improvement is Driving Market Growth
The developments in wireless technology have opened-up new avenues for the market, with improved quality, increase in production and savings on labor cost. With technologies, like DCS, PLC, SCADA, and MES, automation equipment has become more sophisticated, performing more complex actions at less operating cost. In addition, coupled with the advances in sensor technology, the technologies have started the era for smart manufacturing, resulting in business process improvement. Improved efficiency and reduction in production costs, compared to conventional manufacturing process is enhancing the growth of the market.
Robotics is the Fastest Growing Segment in the Field Devices
Industrial robots provide a wide range of benefits, such as enhancing efficiency, improving safety and ergonomics, optimize cost, speed-up the processes, and increase reliability. Increased need for automation and aging population has spurred a demand in the industrial robotics. China has shown a rapid investment in the industrial automation, which is observed by the increased need in the industrial robotics and machine tools. The largest scope for the robotics investment in the future is observed in Asia-Pacific region except Japan, which is the fastest growing market for manufacturing output.
North America has the Largest Market Share
With an enormous presence of manufacturing and production units in the North American region, the advent of IoT in various industries has enhanced the production capacity and led to the optimization of manufacturing processes. US is the major market for factory automation and Industrial control within the North American region. The demand for advanced manufacturing robotic technologies would help a long way for the growth of the market in the region. The increased competiveness among the vendors and manufacturers is expected to bring about interesting growth prospect in the world of industrial automation, resulting in growth of the market.
Key Developments in the Market
- February 2018 - Honeywell collaborated with Equate Petrochemical Company, a global producer of petrochemicals. The companies signed MOU for development of technologies to support operations at EQUATE
- February 2018 - ABB Ltd was set to develop smart city solutions for Vasteras, Sweden’s fifth largest city. The company’s Ability digital technologies and expertise will allow in increasing sustainability, resiliency, and efficiency
Reasons to Purchase the Report
- Current and future factory automation and industrial controls market outlook in the developed and emerging markets
- Analyzing various perspectives of the market with the help of Porter’s five forces analysis
- The segment that is expected to dominate the market
- Regions that are expected to witness fastest growth during the forecast period
- Identify the latest developments, market shares, and strategies employed by the major market players
- 3 months analyst support, along with the Market Estimate sheet (in Excel)
- This report can be customized to meet your requirements. Please connect with our representative, who will ensure you get a report that suits your needs
1.1 Scope of the Study
1.2 Study Assumptions
1.3 Study Deliverables
2. Research Approach and Methodology
2.1 Research Phases
2.2 Analysis Methodology
3. Executive Summary
4. Market Insights
4.1 Market Overview
4.2 Industry Value Chain Analysis
4.3 Industry Attractiveness - Porter's Five Forces Analysis
4.3.1 Bargaining Power of Suppliers
4.3.2 Bargaining Power of Consumers
4.3.3 Threat of New Entrants
4.3.4 Threat of Substitute Products or Services
4.3.5 Competitive Rivalry in the Industry
5. Market Dynamics
5.1 Factors Driving the Market
5.1.1 Emphasis on Cost Cutting and Business Process Improvement
5.1.2 Increased Adoption of Internet of Things (IoT) and Machine- to-Machine Technologies
5.2 Factors Restraining the Market
5.2.1 Lack of Skilled Workforce Preventing Enterprises from Full-scale Adoption of Factory Automation
6. Technology Snapshot
7. Global Factory Automation and Industrial Control Systems Market - Segmentation
7.1 By Product
7.1.1 By Field Devices
188.8.131.52 Machine Vision
184.108.40.206 Motors and Drives
220.127.116.11 Relays and Switches
18.104.22.168 Other Field Devices
7.1.2 By Industrial Control Systems
22.214.171.124 Other Control Systems
7.2 By End-user Industry
7.2.2 Chemical and Petrochemical
7.2.5 Food and Beverage
7.2.6 Oil and Gas
7.2.7 Other End-user Industries
7.3 By Geography
7.3.1 North America
126.96.36.199 United States
188.8.131.52 United Kingdom
184.108.40.206 Rest of Europe
220.127.116.11 Rest of Asia-Pacific
7.3.4 Latin America
18.104.22.168 Rest of Latin America
7.3.5 Middle East & Africa
22.214.171.124 United Arab Emirates
126.96.36.199 Saudi Arabia
188.8.131.52 Rest of Middle East & Africa
8. Competitive Intelligence - Company Profiles
8.1 Rockwell Automation Inc.
8.2 Honeywell International Inc.
8.3 General Electric Company
8.4 ABB Ltd
8.5 Emerson Electric Company
8.6 Dassault Systemes SE
8.7 Autodesk Inc.
8.8 Mitsubishi Electric Corporation
8.9 Siemens AG
8.10 Aspen Technology Inc.
8.11 Robert Bosch GmbH
8.12 Texas Instruments Inc.
8.13 Yokogawa Electric Corporation
8.14 Schneider Electric SE
*List Not Exhaustive
9. Investment Analysis
10. Future of the Market
- Rockwell Automation Inc.
- Honeywell International Inc.
- General Electric Company
- ABB Ltd
- Emerson Electric Company
- Dassault Systemes SE
- Autodesk Inc.
- Mitsubishi Electric Corporation
- Siemens AG
- Aspen Technology Inc.
- Robert Bosch GmbH
- Texas Instruments Inc.
- Yokogawa Electric Corporation
- Schneider Electric SE