Industry Controls and Factory Automation Market – Overview
Siemens AG, Emerson Electric Company, Mitsubishi Electric Corporation, Schneider Electric Se, General Electric Company, Omron Corporation, Rockwell Automation, Inc., Yokogawa Electric Corporation, and Nextnine Ltd. are some of the major market players operating in the Industry Controls and Factory Automation Market included in MRFR Analysis.
According to a recent study report published by the Market Research Future, The global market of Industry Controls and Factory Automation has been growing since past few years. The market is expected to grow at a rapid pace during the forecast period (2016 – 2021). The Industry Controls and Factory Automation Market is forecasted to demonstrate a stirring growth by 2021, surpassing its previous growth records in terms of value at CAGR of about 4.6% from 2016 to 2021.
Robotics are mostly used in the factory automation and industry control as it leads to advantages in controlling, better precision, reducing assembly time, reduction in labour costs, and reduction in the risk of exposure to production hazards. These are the factors driving the industry control and factory automation market. Additionally, adoption of IOT and advancement in M2M communication technology are factors providing impetus to the growth of the industrial control and factory automation market. Factory automation plays a significant role in reducing energy consumption and increasing operational efficiency, which are the key drivers for the market.
However, lack of skilled professionals who can assist the implementation of automation processes may constraint the growth of the market up to some extent. However, this challenge may get ruled out soon since, industries are offering training programs and certifications to the employees. To shift from traditional manufacturing to smart manufacturing high investment are needed; whereas, due to low profit margin SMEs are can’t arrange funds; limited re-investment opportunities may pose as a restraining factor to the growth of the market. Alternatively, industrial revolution 4.0 would create opportunities in the market.
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Industry Controls and Factory Automation Market – Competitive Analysis
The Industry Controls and Factory Automation market appears to be highly competitive and fragmented owing to the presence of several well established and small key players accounting for a substantial market share. These key players compete based on pricing, innovation and service. Well established players incorporate acquisition, collaboration, partnership, expansion, product & technology launch in order to gain competitive advantage in this market and to maintain their market position. Expansion in emerging market is helping those established key players to extend their sales networks.
Industry Controls and Factory Automation Market – Regional Analysis
North America is the largest markets for industry control and factory automation market. Major players are focusing the Asian Market due to increase in industrial growth in the region. For increasing the overall revenue major players are targeting emerging countries like China and India. Therefore, Asia-Pacific region is expected to contribute significantly to the industry controls and factory automation market. China, on the other hand, may be the largest importer of industrial automation products in the world, but U.S. exporters must contend more with regional competitors, such as Japan, Korea and Taiwan, which will affect pricing and market entry.
Europe holds the third position in Industry Controls and Factory Automation Market in terms of growth rate and the market size.
Not necessarily, that the largest markets will present the greatest market opportunities. To an extent, this does not take into account the variety of economic, historic and political factors that shape global trade. For example, top-ranked Mexico is not objectively the “largest” global market for industrial automation equipment, a position held definitively by China. Mexico, nonetheless, continues to present unparalleled opportunities for U.S. exporters because of its shared border and lack of tariffs. Size also does not take into account market access barriers, such as tariffs, or policy prescriptions, such as export controls, which may apply to U.S. exporters. As a result, while the information provided in this report may be of general use to companies across all of industry, its utility is truly intended for U.S. exporters of industrial automation products.
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