Forecast Increase in Revenue:
The Factory Automation Market was valued at USD 318.37 Billion in 2023, and is expected to reach USD 578.26 Billion by 2030, exhibiting a CAGR of 8.9 % during the forecast period (2024-2030)
Factory Automation Market Overview:
Maximize Market Research, a leading business research firm, has released an insightful report on the “Factory Automation Market.” This comprehensive study offers an in-depth analysis of industry trends, including business insights, demand dynamics, pricing strategies, and the competitive landscape, covering the forecast period extensively.
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Factory Automation Market Report Scope and Research Methodology:
The report offers a thorough examination of the Factory Automation Market, encompassing segmental analysis, significant developments, market dynamics, and the competitive landscape. Data for this study has been gathered through both primary and secondary research methods, including government publications, news articles, and corporate annual reports. It includes an evaluation of major players in the Factory Automation Market, recent innovations, and notable mergers and acquisitions. Visual representations within the report illustrate import/export data, leading market players, market share, and revenue figures. Additionally, the report provides an overview of the drivers, challenges, opportunities, and trends influencing the Factory Automation Market.
Factory Automation Market Segmentation:
by Control & Safety System
Distributed Control System (DCS)
Supervisory Control and Data Acquisition System (SCADA)
Manufacturing Execution System (MES)
Safety Instrumented System (SIS)
Programmable Logic Controller (PLC)
Human Machine Interface (HMI)
by Component
Sensor
Controller
Switch & Relay
Industrial Robot
Drive
Others
Component predicts that Industrial Robots will lead the factory automation market in 2023 and will expand at a compound annual growth rate (CAGR) of 6.4% over the course of the forecast period. The automotive and heavy engineering sectors are the main industries observing a need for industrial robots. Furthermore, there is a greater need for industrial robots due to the growing need for intelligent production in unconventional fields like microelectronics.
by Industry Vertical
Automotive Manufacturing
Food & Beverage
Oil & Gas Processing
Mining
Others
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Factory Automation Market Key Players:
1. ABB Ltd
2. Emerson Electric Company
3. GE Company
4. Honeywell International Incorporation
5. Mitsubishi Electric Factory Automation
6. Omron Corporation
7. Rockwell Automation, Inc.
8. Schneider Electric SA
9. Siemens AG
10.Yokogawa Electric corporation
11.Kuka AG
12.Keyence Corporation
13.Fanuc Corporation
14.Bosch Rexroth
15.Fuji Electric Co., Ltd.
16.Endress+Hauser
17.Hitachi Ltd.
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Factory Automation Market Regional Insights:
Because of significant investments in the oil and gas and power industries, North America leads the world in factory automation revenue. Furthermore, a key driver of this region's factory automation industry growth is the growing need for automation. Furthermore, it is anticipated that the growing need for resource efficiency and the need for energy-efficient solutions in a variety of process industries will offer profitable expansion opportunities for players in the factory automation market to expand their operations in the area.
Key questions answered in the Factory Automation Market are:
- What recent industry trends can be leveraged to create additional revenue streams in the Factory Automation Market?
- Which segments are included in the Factory Automation Market?
- Who are the leading companies in the Factory Automation Market, and what are their portfolios?
- What is the Factory Automation Market?
- What was the size of the Factory Automation Market in the past?
- What is the current growth rate of the Factory Automation Market?
- What factors are anticipated to drive growth in the Factory Automation Market?
- Who are the key players in the Factory Automation Market?
- What are the different segments within the Factory Automation Market?
- What growth strategies are companies adopting to enhance their presence in the Factory Automation Market?
- What are the emerging industry applications and trends in the Factory Automation Market?
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