Industrial Controller and Factory Automation Market – Global Industry Analysis and Forecast (2023-2029)

Industrial Controller and Factory Automation Market size was valued at US$ 143.94 Bn. in 2022 and the total revenue is expected to grow at 7.92% through 2023 to 2029, reaching nearly US$ 245.41 Bn.
Industrial Controller and Factory Automation Market Overview:
The use of control systems such as computers, robotics, and information technology to handle various industrial operations and reduce human effort is referred to as industrial automation. In hazardous working situations, the application of industrial control and factory automation decreases risk and promotes safety. Automation improves in-house and out-of-house work processes while also saving time. The market for Industry controllers and Factory automation is developing due to the increased acceptance of smart systems, smart machinery, and smart equipment for development through automation. Because of rising labour costs and stringent quality requirements, market demand is increasing as well.To know about the Research Methodology :- Request Free Sample Report
Industrial Controller and Factory Automation Market Dynamics:
The global industrial control and factory automation market is being driven forward by the growth of the linked business concept. Effective information transmission between different units in industries is crucial for enhanced production activities. The usage of IoT and IP networks enables firms to gain a better understanding of the process of converting raw materials into finished goods. Field instruments can be tracked, raw material flow can be ensured, inventory status can be tracked, and goods can be reported as they move through the supply chain using IoT-enabled systems.

Connected companies also have easy access to data flowing across the supply chain, allowing them to respond swiftly to changing market conditions. Manufacturers can use real-time data to reduce inventory costs, detect cyber-threat issues, and produce in accordance with market demands. A rising requirement for enhanced productivity, as well as the creation of high-quality products, is driving demand for modern equipment and software systems. This demand can be met by using modern production systems and procedures provided by industrial control and factory automation.

The adoption of the newest automation technologies, such as SCADA, DCS, RTU, PLC, and HMI, is required when establishing a new automated manufacturing plant. SCADA data collection helps to reduce calculation errors while also enhancing product quality and manufacturing plant efficiency. Large capital investments in equipment, software, and training are required to set up these production units. For new entrants who are starting up their first factory, investing such a significant sum is tough. As a result, before introducing industrial control and factory automation, these businesses must conduct a thorough analysis of their return on investment. Because of the high prices of new and advanced systems and the lack of interoperability in legacy systems, numerous companies are unable to upgrade their existing legacy systems. Because these legacy systems communicate through proprietary protocols, connecting them to systems based on modern technology is difficult.

Manufacturers face significant additional expenditures when upgrading their existing systems. In addition, industry-specific automation software solutions necessitate ongoing maintenance and upgrades. As a result, small enterprises cannot afford such costs. As a result, the cost is a major stumbling block to the expansion of the industrial control and factory automation market. The demand for maintaining and updating industrial control and factory automation systems and solutions follows the initial capital investments. Maintaining and upgrading industrial control and factory automation systems and solutions necessitates significant capital reinvestment. As a result, the necessity for large initial investments and maintenance re-investments limits the growth of the industrial control and factory automation market.

A number of processes used in industrial manufacturing can be dangerous to humans. Human errors or mechanical breakdowns can result in fatal incidents throughout the production process. As a result, it is critical for the manufacturing industry to implement safety measures in order to avoid workplace accidents. Products that automate safety compliance serve to reduce the likelihood of accidents. Safety automation instruments, for example, notify operators during emergencies and perform pre-programmed steps to minimize the impact on human life. They discover faults in various machinery and processes and run diagnostics to find remedies as quickly as possible. As a result, these safety instrument systems are intended to respond quickly and consistently (SIS). According to the Occupational Safety and Health Administration (OSHA), due to the implementation of safety components and industrial automation, the prevalence of serious workplace injuries and illnesses has decreased dramatically from 3.3 per 100 workers from 2022 to 2023.

Industrial equipment and devices use a variety of interfaces, technologies, and protocols to communicate. Because of the lack of standardization in various communication interfaces and protocols, data may be misrepresented. The lack of technology standardization makes system integration more difficult and prevents the use of the plug-and-play feature for unrelated systems. For example, most equipment manufacturers utilize their own interface protocols for connecting with their devices, which creates communication issues for devices created by other manufacturers. Another issue that industrial software and system developers encounter is a lack of access to plant data. The lack of this vital data makes standardization and interoperability measurements for industrial devices manufactured by different vendors difficult to achieve. However, as a result of various businesses' efforts to improve production efficiency, the exchange of critical inputs for manufacturing facilities is expected to increase in the forecast years.
Industrial Controller and Factory Automation Market Segment Analysis:
Based on Solution, the market is sub-segmented into SCADA, PLC, DCS, MES, PLM, Functional Safety, PAM In 2022, and the DCS segment led the market, accounting for about 34% of total revenue. Over the projection period, the sector is expected to continue to dominate the market. DCS allows for central control, reporting, and monitoring of different components, which helps to centralize operations and give flexibility. The rising demand for DCS is due to benefits like scalability, ease of installation, and automatic updates. Additionally, increased demand for DCS has been fueled by global industrialization, particularly in developing the Asia Pacific and Middle Eastern countries.

From 2022 to 2029, SCADA is expected to grow at the fastest rate of 10%. SCADA control systems are becoming more widely accepted across a variety of end-use industries, including oil and gas, manufacturing, utilities, and wastewater. These technologies enable businesses to increase efficiency, improve decision-making processes, and reduce downtime dramatically. Also, major industry players like Schneider Electric and ABB are focusing on frequent developments in the control system and increasing their offerings to satisfy rising client expectations.

Based on Application, the market is sub-segmented into Power, Automotive, Printing, and packaging, Oil and gas, pharmaceuticals, Textile, Chemicals, Plastics, and Food Processing Original equipment manufacturers (OEM). Over the forecast period, the industrial automation and control systems market will account for over 17% of the revenue share by 2029. Manufacturers are recognizing the value of successful digital transformation, which is accelerating the convergence of technology and automation in manufacturing operations. Automation solutions also make it easier to integrate electric assets and production process data, which help to improve sustainability throughout the manufacturing plant's lifecycle. Manufacturers faced a number of hurdles before the COVID-19 pandemic, including fast demand changes, market instability, and supply chain interruptions. As a result of these issues, more agility, efficiency, and sustainability are required, leading to increased demand for these solutions.
Industrial Controller and Factory Automation Market Regional Insight:
With a revenue share of over 30% in 2022, Asia Pacific dominated the market. In countries like India, Japan, China, and South Korea, the use of these technologies is steadily expanding. According to a recent report by Grand View Research, Asia Pacific has over 1.5 million robots installed in its industrial facilities, with China accounting for over 30% of the total. Furthermore, developing economies such as Indonesia, Vietnam, and Thailand has a largely untapped market that is attracting new investments to build up manufacturing facilities.

From 2022 to 2029, North America is expected to experience strong growth, with a CAGR of over 8%. The region is one of the early adopters of industrial automation thanks to significant government support. The government's complex environmental rules and regulations have pushed firms across industries to adopt such technologies in order to increase production capacity while remaining compliant with regulations. The outbreak of the new coronavirus COVID-19 has resulted in a strong reliance on automation among important end-user industries, reducing financial and other long-term economic impacts.

The objective of the report is to present a comprehensive analysis of the global Industrial Controller and Factory Automation market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.

PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.

The report also helps in understanding the global Industrial Controller and Factory Automation market dynamics, structure by analyzing the market segments and project the global Industrial Controller and Factory Automation market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Industrial Controller and Factory Automation market make the report investor’s guide.
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Global Industrial Controller and Factory Automation Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2017 to 2022
Market Size in 2022:
US $ 143.94 Bn.


Forecast Period 2023 to 2029 CAGR:
7.92%
Market Size in 2029:
US $ 245.41 Bn.


 Segments Covered:
by Solution
• SCADA
• PLC
• DCS
• MES
• PLM
• Functional Safety
• PAM


by Product Type
• Industrial control systems
• Machine vision
• Sensors
• Relay and switches
• Field devices
• Manufacturing execution system (MES)
• Motion and Drives


by Application
• Power
• Automotive
• Printing and packaging
• Oil and gas
• pharmaceuticals
• Textile
• Chemical
• Plastics and Food Processing
• Original equipment manufacturers (OEM)



Industrial Controller and Factory Automation Market, by Region
• North America (United States, Canada and Mexico)
• Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
• Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
• Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
• South America (Brazil, Argentina Rest of South America)
Industrial Controller and Factory Automation Market Key Players
• Emerson (US)
• ABB (Switzerland)
• Siemens (Germany)
• General Electric (US)
• Schneider (France)
• Yokogawa (Japan)
• Honeywell (US)
• WIKA (Germany)
• Azbil (Japan)
• Fuji Electric (Japan)
• 3D Systems (US)
• HP (US)
• Progea (Italy)
• Hitachi (Japan)
• Vega (Germany)
• Danfoss (Denmark)
• Tegan Innovations (Ireland)
• Krohne (Germany)
• Rockwell (US)
• Chaos Prime (US)
• Dwyer (US).
• FANUC
• STRATASYS
• Bosch Automation
• National Instrument Corporation
Frequently Asked Questions:
1. Which region has the largest share in Global Industrial Control and Factory Automation Market?
Ans: Asia Pacific region held the highest share in 2022.

2. What is the growth rate of Global Industrial Control and Factory Automation Market?
Ans: The Global Industrial Control and Factory Automation Market is expected to grow at a CAGR of 7.92% during forecast period 2023-2029.

3. What is scope of the Global Industrial Control and Factory Automation market report?
Ans: Global Industrial Control and Factory Automation Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Industrial Control and Factory Automation market?
Ans: The important key players in the Global Industrial Control and Factory Automation Market are – Emerson (US), ABB (Switzerland), Siemens (Germany), General Electric (US), Schneider (France), Yokogawa (Japan), Honeywell (US), WIKA (Germany), Azbil (Japan), Fuji Electric (Japan), 3D Systems (US), HP (US), Progea (Italy), Hitachi (Japan), and Vega (Germany)

5. What is the study period of this market?
Ans: The Global Industrial Control and Factory Automation Market is studied from 2022 to 2029.