Industrial and Factory Automation Market is Estimated to Reach $221.17Billion by 2021
Browse 145 Market Tables, 46 Figures spread through 292 slides and an in-depth TOC on “Global Industrial and Factory Automation Market (2016 - 2021)”
Industrial and Factory Automation refers to handling of several operations and related process equipment with help of external control element. These control elements includes SCADA, PLC, machine vision system, sensors and other services. Integration of these control units with operating machinery increases productivity and reduces labor cost & waste production. For efficient production process in the factories, sophisticated robots and Remote Terminal Units (RTUs) are used. With power of Internet of Things (IoT) implemented in these device, real-time data exchange and communication functionality between the field and the controller has become more efficient. Therefore, industrial automation has boosted up all production systems. Pharmaceutical and Energy industry in industrial and factory automation market are growing with highest CAGR of 9.4% and 7.9% respectively during the forecast period.
Total revenue of $221.17bn has been projected for Industrial and Factory Automation Market by 2021. The key drivers accelerated the growth of the market includes impact of rapid ageing population in developed economies, large opportunities provided by Industry Revolution 4.0 and demand of automation process to boom up the vehicle production.
Oil and Gas industry attributed the highest revenue share of 15% with $23.4 billion in 2015 in Industrial and Factory Automation Market. This was mainly due to increasing demand of automation process in mining, extraction and refining of petrochemicals.
The Key Players in Industrial and Factory Automation Market Includes:
- Siemens AG
- ABB Group
- Emerson Electric Company
- Mitsubishi Electric Corporation
- Schneider Electric SE
In 2015, Siemens AG and ABB Group emerged to be the leading players with 13.5% and 9.9% share, respectively in the industrial and factory automation market. The global position of Siemens AG is due to dominance of the company for global touch based human machine interface products. These products are especially used for assisting the operators and factory automation experts in the process control application.
The Industrial and Factory Automation market is analyzed on basis of four regions:
The industrial and factory automation market is segmented based on its geographic regions that include Americas, Europe, APAC and RoW (comprising of African and Middle Eastern nations). Americas region have witnessed a significant growth in the Industrial and Factory Automation market with CAGR of 5.9% during the forecast period. APAC is the highest growing region in Industrial and Factory Automation Market due to rapid adoption rate of automation products and services. This adoption is done in order to improve the operational efficiencies in APAC.
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