Factory automation is the use of different control systems, software and other technologies for automation of the factory. Several electrical and mechanical parts play a major role in the automation systems and products of factories. Linear shafts, bushings, switches, sensors, bearing units, gears, motors, V-belts, solenoid valves are some of the main mechanical components of the overall 100 parts covered in the report. The complete ecosystem spanning several key manufacturers of the parts, distributors has been analyzed to give an in-depth understanding of the market landscape.
The challenge for the USA factory automation market is reduced security and high installation and maintenance costs. The scaling back of investments in Asian countries like China by OEMs also increases the need for various key products, systems and components as new factory establishments, expansion plans are executed in the next few years in the US.
The global industrial and factory Automation equipment and services market is slated to grow at 7.05% CAGR for the next five years. The market is estimated to reach $283.2bn by 2018; 19% of which is occupied by USA. Control systems have the largest market in factories with M2M interaction making the process completely automated. Sensors help in differentiating, error control and production management.
Innovative products and services are gradually capturing the Industrial Automation market. Companies such as Sick AG are offering better miniature sensors to which are affordable and productive. Siemens who already have strong market in Asia are increasing production due to demand for automation in emerging countries like India.