Factory Automation Market is Growing Rapidly Over 8.59% Of CAGR By Forecast 2022 | Adoption Of Iot Enabled Smart Technologies To Stimulate Factory Automation Market Growth

Factory Automation can be defined as the use of computer aided control devices to operate different industrial processes by replacing human involvement. Factory Automation helps to operate multiple processes in controlled manner. It helps for mass production by reducing time and increasing production quality.

New York, UNITED STATES


Pune, India, July 30, 2019 (GLOBE NEWSWIRE) -- Overview:

The global factory automation market is anticipated to surpass a valuation of USD 240 billion, attaining a CAGR of 8% during the forecast period (2016-2022), Market Research Future (MRFR) unveils in a detailed report.

The global Factory Automation Market has witnessed a tectonic surge over the past few years. The evolution of innovations and technological advancements across manufacturing units have highly influenced the adoption of automation technologies. Industry 4.0 and digitization have stimulated the growth of automation among industries by necessitating the use of solutions like control systems and robotics in order to enhance production processes. By minimizing production cost and manufacturing time, automation has transformed the way of production in the industrial sector. Production lines in factories were manual earlier. Despite improvements made in assembly technologies, like smarter reflow ovens and faster pick-and-place machines, back-end operations were non-automated. Therefore, there has been a notable rise in labor cost. Factory automation can thus cause a reduction in operation, production, and labor costs.

Factory automation fulfills the demand for mass production in industries due to its attributes like enhanced quality, minimal human intervention, and fewer labor costs. The demand for factory automation is also high due to the surging adoption of IoT enabled smart technologies and Industry 4.0 trend.

On the contrary, the dearth of professionals, high investment, and inadequate awareness about security are some of the major concerns likely to restrict the growth of the market across the globe.

Get Free Sample Copy of Report @ https://www.marketresearchfuture.com/sample_request/3565

Key Players:

The prominent players in the Factory Automation Market are - Siemens AG, ABB Ltd, Emerson Electric Corporation, Rockwell Automation, Honeywell International Inc., Schneider Electric, Rexroth Bosch Group, Mitsubishi Electric Corporation, Yokogawa Electric Corporation, and Omron Corporation.

Segmentation:

The global factory automation market is segmented on the basis of type, technology, and end user industry.

By type, the factory automation market is segmented into programmable automation, fixed automation, integrated automation, and flexible automation. Of these, the fixed automation segment is likely to dominate the market, and garner fixed automation is dominating the market and is likely to reach USD 120 billion by the end of 2022.

By technology, the factory automation market is segmented into programmable automation controller (PAC), supervisory control and data acquisition (SCADA), distributed control system (DCS), programmable logic controller (PLC), and human-machine interface (HMI). Of these, the SCADA segment is likely to expand at a CAGR of 10% during the assessment period (2016-2022).

By end user industry, the market is segmented into automotive, manufacturing, energy & power, packaging & processing, printing & converting, semiconductor & electronics, and others. Of these, the manufacturing sector is expected to dominate and reach a valuation of USD 50 billion by the end of 2022.

Mapping the Global Market:

Geographically, the global factory automation market spans across North America, Asia Pacific, Europe, and Rest of the World (RoW).

Considering the global scenario, Asia Pacific is considered to expand at the fastest rate and is predicted to exhibit a high growth rate. Government initiatives to increase domestic production and manufacturing and surging adoption of technology in the region is likely to augment the market growth in the region. Meanwhile, the high cost of installing automation solutions is one of the major concerns restricting the growth of the regional market. In the APAC, China is considered to hold a major share. Companies in China are highly embracing Industry 4.0 to improve productivity. Chinese government’s programs like the Made in China 2025 plan are influencing the use of R&D in factory automation and technologies. As most of the automation equipment is imported from Japan and Germany, the ‘Made in China’ initiative focuses on expanding the nation’s domestic production of equipment and hardware.

China is considered one of the fastest-growing countries in the world with a very high industrial production rate. This is likely to drive the automation market in the country. Investments are planned to address concerns related to the environment, aid the quality of growth, and reduce overcapacity. The number of companies deploying process and factory automation technologies and robotics is less compared to the huge size of China’s manufacturing base and the number of workers the country employs. This trend is likely to present huge growth opportunities for companies in the industrial automation industry in the country.

Get Complete Report @ https://www.marketresearchfuture.com/reports/factory-automation-market-3565

Head-to-Head

July 2019: Yamaha Motor Europe Factory Automation Section continues to extend its SCARA family. Arm lengths which are now available range from 120mm to 1200mm. Maximum payload is available from 1kg to 50kg, in order to speed up a variety of packaging/de-packaging, pick and place, and mechanical assembly tasks.

Related Reports

Industry Controls and Factory Automation Market Information Report: Information by Component (Industrial Robots, Machine Vision, Control Valves, HMI, Industrial PC, Industrial 3D Printing) Solution (SCADA, PLC, DCS, PAM, PLM, MES) Industry and by Region - Global Forecast to 2023

https://www.marketresearchfuture.com/reports/industry-controls-factory-automation-market-1869

Smart Factory Market Report: by Component (Software, Hardware, Service), by Connectivity (Wired Connectivity, Wireless Connectivity), by Industry Vertical (Electronics and Semiconductor, Aerospace & Defense, Automotive, Oil & Gas, Chemicals, Healthcare & Pharmaceuticals and others) Region (North America, Europe, Asia-Pacific and Rest of the World) - Forecast to 2023

https://www.marketresearchfuture.com/reports/smart-factory-market-2317

About Market Research Future:

At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.


        

Contact Data