Market Synopsis of Factory Automation Market:
Factory automation is the use of computer aided control devices to automate the operations of industrial processes in a controlled manner. The global factory automation market is anticipated to grow at a stable and satisfactory CAGR of ~8% to reach USD ~240 Billion by 2022, between 2016 and 2022.
Market Dynamics of Factory Automation Market:
- Lower operating cost, efficient manufacturing, lower rates of error due to reduced human intervention, lower wastage, synchronisation of procedures, quality production, faster product lifecycle and others.
- Growing industrial base especially of developing nations and rising number of factories
- Increasing technological capabilities of sensors and automation technology and the advent of robots
- Rise in demand due to development of complementary industries such as automotive industries
- Growing awareness of workspace security and hazards and concurrent rise in cost of noncompliance and legality of accidents cases in factories
- Improvements in machine interface and control of the factory automation equipment
- Growing interconnectivity between network and machines, development of advanced analytic automation technology, internet of things, developments in computer aided systems, etc.
- Growing centralisation of manufacturing and need for greater control over manufacturing variables
- Growing need for multiple processes operations and mass production by reducing time and high production quality.
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- Need for factory process restructuring
- Large share of small scale industries in industrial base of nations like India having low buying power
- Fragmented company structure with poor flow of process resulting in disoriented manufacturing
- High cost of installation and maintenance
- Opposition to automation by trade unions emerging out of threat of loss of employment
- Lack of awareness, scarcity of investment and lack of trained manpower
- Lack of awareness and scarcity of investment
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.
Factory Automation Market by Type:
- Fixed Automation
- Programmable Automation
- Flexible Automation
- Integrated Automation
Factory Automation Market by Technology:
- Supervisory control and data acquisition (SCADA)
- Programmable Automation Controller (PAC)
- Programmable Logic Controller (PLC)
- Distributed Control System (DCS)
- Human Machine Interface (HMI)
Factory Automation Market by End user industries:
- Packaging & processing
- Energy & Power
- Semiconductor & electronics
- Printing & converting
The regional analysis of Factory Automation market is being studied for region such as Asia pacific, North America, Europe and Rest of the World. The ongoing global trend towards Factory Automation is being reflected in an increase in the number of industrial robots in the U.S. market. Currently, there has been news in Japan that Factory Automation has paved a way for establishment of robot training centers. There has been an upward trend in Factory Automation in the Asia pacific nations including Vietnam. It is proved that using industrial robots helps saving time and increasing product quality and production capacity leading to improve the competitiveness.
- The global Factory Automation market is expected to grow at USD ~240 Billion by 2022, at ~8% of CAGR between 2016 and 2022.
- By Type, fixed automation is dominating the market and is expected to reach USD 120 billion by 2022.
- By Technology, SCADA is expected to grow with 10% CAGR during forecast period 2016-2022.
- North America is expected to dominate the market of Factory Automation market throughout the forecast period.
- By End-User- Manufacturing sector is dominating the market and is expected to reach USD 50 billion by the end of 2022.
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- Process Automation and Instrumentation Manufacturers
- Industrial Robot Manufacturers
- MES (Manufacturing Execution System) and MOM (Manufacturing Operations Management) Players
- System Integrators
- Government Organizations
- Research/Consultancy firms
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