Factory
Automation Market Size, Share, Revenue Growth Demand and Forecast – 2031

The
global factory automation market is projected to grow at a significant CAGR
during the forecast period. With the advent of AI and IoT, the market is
primarily supported by an increasing inclination toward automated production
processes. In addition, there have been a number of government-led projects
aimed at promoting automation in collaboration with the private sector. For
instance, in 2018, NITI Aayog collaborated with ABB to propose digitalization
solutions incorporating Internet of Things (IoT) and Artificial Intelligence
(AI) technologies across various sectors of the economy, including power and
water utilities, food and heavy industries, transportation (rail and metro),
and infrastructure. The plan also includes the rapidly expanding field of electric
mobility.

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The
key players of the market include ABB Ltd., Honeywell International, Inc.,
Emerson Electric Co., Schneider Electric SE, Siemens AG, and others.  To
maintain a strong position in the market, these market players adopt various
strategies such as product launches, partnerships, collaborations, and mergers
and acquisitions. For instance, in April 2021, Google Cloud and Siemens
collaborated to streamline production operations and boost shop floor
efficiency. Siemens plans to integrate Google Cloud's top data cloud and
artificial intelligence/machine learning (AI/ML) capabilities with its factory
automation solutions to assist manufacturers in the manufacturing process.

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Market
Coverage

• Segment Covered- 

o             By Component

o             By Control System

o             By Industry

• Competitive Landscape: ABB
  Ltd., Honeywell International, Inc., Emerson Electric Co., Schneider
  Electric SE, Siemens AG, and others.  

Key
questions addressed by the report

• What is the market growth
  rate?


• Which segment and region
  dominates the market in base year?


• Which segment and region
  will project fastest growth in the market?


• How COVID-19 impacted the
  market?

o             Recovery Timeline

o             Deviation from pre-COVID forecast

o             Most affected region and segment

• Who is the leader in the
  market?


• How players are addressing
  challenges to sustain growth?


• Where is the investment
  opportunity?

Global
Factory Automation Market by Segment

By
Component

·       
Industrial Robots 

·       
Machine Vision 

·       
Human Machine Interface(HMI)

·       
Sensors

·       
Control Valves 

·       
Others( Field Instruments)

By
Control Systems

·       
Programmable Logic Controllers(PLC)

·       
Distributed Control Systems (DCS)

·       
Supervisory Control and Data Acquisition System (SCADA)

·       
Manufacturing Execution System (MES)

·       
Others( Product Lifecycle Management)

by
Industry

·       
Automotive

·       
Aerospace & Defense 

·       
Oil & Gas

·       
Chemical

·       
Food & Beverages 

·       
Healthcare 

·       
Others( Mining and Electronics)

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