The implementation of industrial control and factory automation in factories is growing at a rapid pace. The demand for industrial control and factory automation is increasing across verticals because of the rapidly changing pattern of consumption and production of goods and services. The adoption of smart field devices such as industrial robots and technology is being done to address the defect at the production level. Similarly, a large number of field devices such as sensors and technologies, are being used in the power sector where electricity is produced and transmitted to distribution systems to minimize power-loss, with the usage of such tools.
Industrial control and factory automation not only improves safety measures and but also helps companies realize zero waste in production and sustainability. The industrial control and factory automation market is expected to grow at a CAGR of 6.73% between 2015 and 2020.
Industrial Control and Factory Automation Market
On the basis of technology, the industrial control and factory automation market has been segmented into SCADA, PLC & RTU, DCS, PLM, MES, HMI, and safety. In 2014, DCS held the largest share of the overall industrial control and factory automation market based on technology. On the basis of components, the industrial control and factory automation market is segmented into industrial networks, industrial robotics, machine vision, control devices, control valves, field instruments, enclosures, and cables. The market for industrial robots is expected to grow at the highest CAGR of 12.43% between 2015 and 2020; this growth is mainly attributed to the growing automotive sector in emerging economies such as China and India.
On the basis of industry, the market is segmented into process industry and discrete industry. In discrete industry, automotive and transportation industry held the largest market share in 2014; whereas machine manufacturing industry is growing at a highest CAGR of 7.27% between 2015 and 2020. In process industry, oil & gas industry held the largest market share in 2014; whereas pharmaceutical industry is growing at a highest CAGR of 7.46% between 2015 and 2020.
Ask for PDF @ Click Here
Furthermore, in terms of geography, the industrial control and factory automation market has been segmented into the Americas, Europe, Asia-Pacific (APAC), and Rest of the world (RoW). The Americas had the largest market size in the overall industrial control and factory automation market. The market in APAC is expected to grow at the highest CAGR of 7.86% from 2015 to 2020. The growth in APAC can be attributed to the growing industrial sector in emerging countries such as China and India. Factory automation is increasing in China, due to the large number of automotive manufacturing plants.
