Demand for Factory Automation And Industrial Controls Market | Current Trends, Issues, Challenges, Regional Outlook And Key Players

Automation is the use of information technology in conjunction with mechanical technology to produce a more efficient and intelligent manufacturing infrastructure. Factory automation and industrial controls systems can assist in lowering manufacturing costs. They also aid with the standardization of the manufacturing process, which helps to improve quality.

The setup costs a lot of money in the beginning. However, because robots are extremely effective and low on faults, investing in automation can help any firm save on personnel costs in the long term by decreasing labour in factories, quality control and auditing, and eliminating the cost of rework. The use of automation also improves the company’s reputation because the end product is virtually always of high quality.

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However, due to high capital expenditure and backlash from worker unions, the penetration of factory automation and industrial controls is not growing at an expected pace. Since the developed nations, especially US and Europe, are witnessing a slowing down, the sales of most of the traditional manufacturing companies has slowed down too. This is precisely why many companies are in two minds regarding the decision to invest in automation.

Factory Automation & Industrial Controls Market:Market Dynamics
The main factor behind the growth of the factory automation & industrial controls market is growing use of automation in industries. The growing need to use better technology equipment to gain better results is leading to the growth of the factory automation and industrial controls market. Products made using automation do not only have improved quality, they are also produced at a decreased operational cost, increasing the overall profitability margin of the product. Automation also helps in saving energy.

Other factors promoting the growth of factory automation & industrial controls market are need for high yield and production, scarcity of labour and enhanced focus on increasing efficiency and accuracy to achieve high yield and productivity. Automation has become an important component of the manufacturing, power, oil & gas, mining, railway and shipping industries and thus, the growth of these industries will also contribute towards the growth of the global factory automation & Industrial Controls market. Moreover, government initiatives to help industries adopt new technologies will also boost the market of factory automation & industrial controls market over the forecast period.
However, the high initial cost of installation of factory automation & industrial controls systems and lack of awareness regarding the quality of finished products made using automation can act as a restraint for the global factory automation & industrial controls market. Other than this, the limited availability of skilled professionals for the implementation of automation and control processes can also act as a restraint for this market.
Factory Automation & Industrial Controls Market:Market Segmentation
The automation & industrial controls market can be segmentedon the basis of the product used as follows:
Field devices
Industrial Control Systems
Manufacturing Execution Systems (MES)
Enterprise Resource Planning (ERP)
Product Lifecycle Management (PLM)
The segmentation of Factory Automation & Industrial Controls Market can be doneon the basis of End-User Industry as follows:
Oil & Gas
Chemical & Petrochemical
Mining & Metals
Factory Automation & Industrial Controls Market: Regional Outlook
Europe holds a major share in the global Factory Automation & Industrial Controls market. It is followed by Asia-Pacific, North America and Latin America. Europe is projected to be a major consumer owing to the extensive applications of Factory Automation & Industrial Controls in the automotive industry. Similarly, rising automotive and manufacturing industries in APAC region, especially in countries such as China, India and Japan, are also expected to give a significant boost to factory automation and industrial control market. With increasing country integration or globalisation, which is evident from the increase in international trade and inbound-outbound FDI, positive growth in one economy leads to positive growth in correlated economies. Increase in industrial production in countries, such as China, India and Germany and strong growth purchase manager index numbers from Australia, China and UK will influence the growth of end-user industries in Asia Pacific, which in turn, will influence the demand for Factory Automation & Industrial Controls systems in the region during the forecast period. Rest of the world market is estimated to account for a relatively small share of the Factory Automation & Industrial Controls market.
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Factory Automation & Industrial Controls Market: Market Participants
Some of the examples of the market participants identified across the value chain of the global Factory Automation & Industrial Controls Market are: Honeywell International Inc, ABB Ltd, Siemens AG, Aspen Technology Inc., Emerson Electric Company, Bosch Automation, Rockwell Automation, Inc

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