Factory Automation Market 2022 Trends, Market Share, Industry Size, Opportunities, Analysis and Forecast by 2030
Market Summary -
The global factory automation market has been demonstrating significant growth over the past few years. The rising demand for improved productivity and safety for workers and minimized overall production cost drive the market growth. Besides, the increasing uptake of factory automation to perform various tasks influences the market value, increasing the work efficiency of processes and reducing manual work & downtime.
Additionally, factory automation allows manufacturers to streamline their factory processes and generate profit. According to Market Research Future (MRFR), the global factory automation industry is projected to reach exponential heights by 2027, growing at a colossal CAGR during the assessment period (2020 – 2027). The massive investment made in the development of automation technologies increases market revenues.
Labor shortages lead to an increased need for automated operations that can minimize labor requirements. The increasing utilization of robots in factories to automate packing & labeling, testing, welding, and other testing processes create vast demand. Furthermore, the increasing usage of robotics and technologies in burgeoning manufacturing sectors accelerates the market share.
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Factory Automation Global Market – Segments
The report is segmented into types, technologies, end-user industries, and regions. The type segment is sub-segmented into fixed, programmable, flexible, integrated, and others.
The technology segment is sub-segmented into supervisory control and data acquisition (SCADA), programmable automation controller (PAC), programmable logic controller (PLC), distributed control system (DCS), human-machine interface (HMI), and others.
The end-user industries segment is sub-segmented into manufacturing, automotive, packaging & processing, energy & power, semiconductor & electronics, printing & converting, and others. The region segment is sub-segmented into North America, Europe, APAC, and the Rest-of-the-World.
Factory Automation Market – Regional Analysis
North America dominates the global factory automation market. Factors such as the presence of key industry players and advances in technologies drive the market growth. Besides, the rising demand for the automation of industrial processes boosts the market size. The US holds the leading share in the regional market, followed by Canada.
Moreover, stringent government regulations to implement industrial safety technologies and the steady rise across end-user industries create substantial market demand. Also, the augmenting demand for safety and comfort features positively impacts regional market growth. Furthermore, the growing uptake of factory automation in manufacturing sectors across the region fosters market revenues.
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Factory Automation Market – Competitive Analysis
Highly competitive, the Factory Automation Market Size appears fragmented due to the presence of several well-established players. Industry players incorporate strategic approaches such as mergers & acquisitions, collaborations, expansion, and product/ technology launch to gain a larger competitive share.
Major Players:
Players leading the global factory automation market include ABB Ltd, Siemens AG, Emerson Electric Corporation, Honeywell International Inc., Rockwell Automation, Schneider Electric, Mitsubishi Electric Corporation, Yokogawa Electric Corporation, Rexroth Bosch Group, and Omron Corporation, among others.
Industry/ Innovation/ Related News
Nov. 8, 2021 --- OMRON Corporation announced the signing of an agreement for capital investment in Techman Robot, Inc., the world's second-largest collaborative robot brand that works with people at manufacturing sites.
OMRON now holds a stake of approximately 10% in Techman. The company aims to jointly develop innovative robot solutions that can combine OMRON factory automation equipment with Techman's collaborative robots, ensuring both safety and productivity, offering a solution to the issue of labor shortages at manufacturing sites.
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