Market Synopsis:
The global factory automation market is anticipated to surpass a valuation of USD 240 billion, attaining a CAGR of 8% during the forecast period (2016-2022), Market Research Future (MRFR) unveils in a detailed report.
The global Factory Automation Market has witnessed a tectonic surge over the past few years. The evolution of innovations and technological advancements across manufacturing units have highly influenced the adoption of automation technologies. Industry 4.0 and digitization have stimulated the growth of automation among industries by necessitating the use of solutions like control systems and robotics in order to enhance production processes. By minimizing production cost and manufacturing time, automation has transformed the way of production in the industrial sector. Production lines in factories were manual earlier. Despite improvements made in assembly technologies, like smarter reflow ovens and faster pick-and-place machines, back-end operations were non-automated. Therefore, there has been a notable rise in labor cost. Factory automation can thus cause a reduction in operation, production, and labor costs.
Factory automation fulfills the demand for mass production in industries due to its attributes like enhanced quality, minimal human intervention, and fewer labor costs. The demand for factory automation is also high due to the surging adoption of IoT enabled smart technologies and Industry 4.0 trend.
On the contrary, the dearth of professionals, high investment, and inadequate awareness about security are some of the major concerns likely to restrict the growth of the market across the globe.
Get Free Sample Copy of Report @ https://www.marketresearchfuture.com/sample_request/3565
Key Players
The prominent players in the Factory Automation Market are – Siemens AG, ABB Ltd, Emerson Electric Corporation, Rockwell Automation, Honeywell International Inc., Schneider Electric, Rexroth Bosch Group, Mitsubishi Electric Corporation, Yokogawa Electric Corporation, and Omron Corporation.
Market Segmentation:
- By type, the global factory automation market has been segmented into fixed automation, programmable automation, flexible automation, and integrated automation. Among these, the fixed automation segment is currently placed at the leading position in the global marketplace. Its valuation is poised to reach USD 120 Bn mark by the end of 2022.
- By technology, the factory automation market has been segmented into Supervisory control and data acquisition (SCADA), Programmable Automation Controller (PAC), Programmable Logic Controller (PLC), Distributed Control System (DCS), and Human Machine Interface (HMI). The Supervisory control and data acquisition (SCADA) segment is anticipated to strike a CAGR of 10% over the assessment period.
- By end-user industries, the global factory automation market has been segmented into manufacturing, automotive, packaging & processing, energy & power, semiconductor & electronics, printing & converting, and others. Among these, the manufacturing segment is likely to lead the market growth and scale a valuation of USD 50 Bn by 2022.
Regional Analysis:
The regional assessment of the global factory automation market covers four major regions, viz. Asia Pacific, North America, Europe and the Rest of the World (RoW). North America is likely to dominate the growth pattern of the market over the next few years. The ongoing trend of adoption of industrial robots in the U.S. is one of the major factors responsible for driving the expansion of the factory automation market in the region. Asia Pacific is a potential market for factory automation. Emerging economies such as China, Japan, etc. are anticipated to contribute significantly towards the development of the regional market in the years to come.
Get Complete Report @ https://www.marketresearchfuture.com/reports/factory-automation-market-3565
Industry Updates
July 2019: Yamaha Motor Europe Factory Automation Section continues to extend its SCARA family. Arm lengths which are now available range from 120mm to 1200mm. Maximum payload is available from 1kg to 50kg, in order to speed up a variety of packaging/de-packaging, pick and place, and mechanical assembly tasks.
About Us:
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
Media Contact
Company Name: Market Research Future
Contact Person: Abhishek Sawant
Email: Send Email
Phone: +1 646 845 9312
Address:Market Research Future Office No. 528, Amanora Chambers Magarpatta Road, Hadapsar
City: Pune
State: Maharashtra
Country: India
Website: https://www.marketresearchfuture.com/reports/factory-automation-market-3565