Industrial Control and Factory Automation Market Trends, Price, Demand, Analysis and Forecasts to 2022

According to Stratistics MRC, the Global Industrial Control and Factory Automation market is accounted for $138.56 billion in 2015 and is expected to reach $242.10 billion by 2022 growing at a CAGR of 8.3%. Rapid advancement of Information Technology and the diversion of the manufacturing sector towards the adoption of automated technologies have revolutionized the manufacturing sector. Adoption of IoT (Internet of Things) and advancement in M2M (Mobile to Mobile) communication technology in the industrial sector, the need of optimal use of resources, waste reduction and increase in process efficiency are of prime concern in manufacturing industries, these all are fueling up the market. High investment requirement and advanced infrastructure requirements are some of the major restraining factors.

Robotic arms segment is estimated to be the dominant segment in market owing to its advantages in handling, better precision, reduction in labor costs and reduction in the risks of exposure to production hazards. Process industry segment is estimated to be the stagnant segment in order to its varied applications and vast structure. North America accounted for the largest share of market, while Asia Pacific is estimated to be the fastest growing, attributed to growing industrial sector in emerging countries such as China and India. Factory automation is increasing in China, due to the large number of automotive manufacturing plants.

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Some of the key players of the Industrial Control and Factory Automation market include ABB Ltd., Ametek Inc, Aspen Technology Inc, Emerson Electric Corporation, General Electric, Honeywell International, Inc., Johnson Controls, Inc., Mitsubishi Electric, National Instrument Corporation, Omron, Rockwell Automation, Inc., Schnieder Electric, Siemens AG, Yokogawa Electric Corporation and...