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 utiliza