Industrial Control and Factory Automation Market to be led by Growing Supervisory Control and Data Acquisition (SCADA) in the Industrial Control
Increasing
growth of the E-Commerce industry is driving the implementation of the
industrial control and factory automation market across the globe.
According
to TechSci Research report, “Industrial Control and Factory Automation
Market – Global Industry Size, Share, Trends, Opportunity, and Forecast,
2018-2028” The global industrial control and factory automation market is
growing owing to rising growth due to the rapid growth in the E-Commerce
industry. Manufacturers are significantly integrating new technologies,
including the Internet of Things (IoT), cloud computing, analytics, artificial
intelligence, and machine learning into their production facilities and
throughout their operations to cater the customer needs and market
requirements. Moreover, the growing use of the IoT, the government initiatives
to promote industrial automation, and the growing collaboration within
enterprises for simplifying the production processes are further attributed to
the growth of the global industrial control and factory automation market.
With
the outbreak of the COVID-19 pandemic, industrial control and factory
automation technology has been rapidly deployed by numerous organizations to
minimize or eliminate the manual workload within factories and logistics.
Despite the temporary reduction in e-commerce, healthcare, and retail caused by
the imposition of lockdowns and economic distress, there is an increase in industrial
control and factory automation and robotics technology. As various businesses
such as pharmaceuticals and grocery stores have implemented automation
technologies in the manufacturing and warehouse to further cater the demand by
the customers during the pandemic. Moreover, with the enormous benefits of
industrial control and factory automation, service providers and operators have
seen an accelerating growth in the adoption of advance automated technology to
overcome burden of customer preference along with the minimal availability of
service providers during the pandemic.
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Industrial Control and Factory Automation Market"
The
global industrial control and factory automation market is segmented into
component, industrial control systems, and application. Based on component, the
market is segmented into sensors, control values, switches & relays,
industrial robots, and others. Based on industrial control systems, the market
is segmented into distributed control system (DCS), programmable logic
controller (PLC), supervisory control and data acquisition (SCADA), product
lifecycle management (PLM), human machine interface (HMI), and others. Based on
application, the market is segmented into automotive, aerospace & defense,
food & beverage, chemical, energy & utilities, healthcare, oil &
gas, transportation, e-commerce, and others.
The
SCADA in the industrial control system segment dominated the global industrial
control and factory automation market in 2022 and is expected to maintain its
dominance during the forecast period, owing to the widespread adoption of
industrial automation and the increasing use of industry 4.0. Because of the
rise in e-commerce activity and the spread of remotely control technology in
e-commerce, supervisory control and data acquisition applications are also
becoming increasingly popular in the management of just-in-time manufacturing
and regulates industrial automation and robots. Hence, it is anticipated that
these advantages provided by SCADA for industrial manufacturing, e-commerce,
and other activities will obtain a sizable profit share during the projection
period, accelerating the segmental growth.
Based
on application, the healthcare segment is expected to register lucrative growth
in the industrial control and factory automation during the forecast period
owing to the consultation and services offered to treat patient’s health issues
such as curative, palliative, rehabilitative, and curative. Many healthcare
providers are opting for a chatbot service to help patients book appointments
and improve customer centers. Automation and control improve operational costs
and supply chain errors, which accounts for better care and treatment of
patients. Automation has also enabled doctors to conduct surgeries remotely or
with minimal human interference for added precision and safety, which is
anticipated to drive the segment growth during the forecast period.
Key
market players in the global industrial control and factory automation market
include:
- Schneider
Electric SE
- Rockwell
Automation Inc.
- Honeywell
International Inc.
- ABB
Limited
- Siemens
AG
- Robert
Bosch GmbH
- Emerson
Electric Company
- Yokogawa
Electric Corporation
- Omron
Corporation
- Mitsubishi
Electric Corporation
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“The
Asia Pacific region shows substantial growth prospects for the global
industrial control and factory automation market, which can be attributed to
the presence of key market players and emerging companies in the region. In
addition, the growing demand for improved solutions to manage industrial setups
in India, Japan, and China is further propelling the growth of the Asia Pacific
region. The implementation of IoT, smart manufacturing, and automation
techniques is gaining traction and is expanding to various organizations in the
region to boost labor productivity and enhance business operations. Moreover,
as many economies in Asia Pacific region are export oriented, the increase in
exports and adoption of technologies such as robotics, drones, cloud computing,
and artificial intelligence is expected to continue its dominance in the global
industrial control and factory automation market during the forecast period as
well,” said Mr. Karan Chechi, Research Director with TechSci Research, a
research-based global management consulting firm.
“Industrial
Control and Factory Automation Market – Global Industry Size, Share, Trends,
Opportunity, and Forecast, 2018-2028, Segmented By Component (Sensors, Control
Values, Switches & Relays, Industrial Robots, Others), By Industrial
Control Systems (Distributed Control System (DCS), Programmable Logic
Controller (PLC), Supervisory Control and Data Acquisition (SCADA), Product
Lifecycle Management (PLM), Human Machine Interface (HMI), Others), By
Application (Automotive, Aerospace & Defense, Food & Beverage,
Chemical, Energy & Utilities, Healthcare, Oil & Gas, Transportation,
E-Commerce, Others), By Region, Competition Forecast & Opportunities, 2028”, has evaluated the future growth
potential of industrial control and factory automation and provides statistics
and information on market structure, size, share, and future growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the global industrial control and factory automation market.
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