Anticipated Growth in Revenue:
The Factory Automation Market was valued at USD 318.37 Billion in 2023, and is expected to reach USD 578.26 Billion by 2030, exhibiting a CAGR of 8.9 % during the forecast period (2024-2030)
Factory Automation Market Overviews:
Maximize Market Research has published a comprehensive analysis of the "Factory Automation Market." This in-depth report from MMR highlights key technological advancements in the field, focusing on sophisticated systems and high-tech industrial solutions. Covering competitive dynamics, price trends, demand insights, and essential business data, the Factory Automation Market report provides valuable perspectives for industry stakeholders.
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The scope and methodology of the Factory Automation Market:
The primary aim of the report is to deliver an in-depth analysis of the Factory Automation Market, emphasizing a market-centered approach. It examines the market’s unique attributes, key developments, growth drivers, and potential opportunities. The report equips key players with valuable insights through detailed statistics, charts, and diagrams that aid in strategic planning for organizational growth. Data is gathered using both primary and secondary research methods.
The report provides an in-depth analysis of the competitive landscape within the Factory Automation Market. To assess market size, a bottom-up approach was employed. Additionally, the report incorporates Porter's Five Forces Analysis and SWOT analysis to define and evaluate the competitive dynamics among key global players. Various techniques were utilized to analyze the Factory Automation Market, including assessing return on investments, conducting feasibility studies, and implementing Porter's Five Forces framework. The bottom-up methodology was also applied to calculate both regional and global market sizes for the Factory Automation Market.
The Factory Automation Market: Dynamics
The primary drivers of the factory automation market are the industry players' focus on improving manufacturing process efficiency in order to achieve low costs and high-quality production outputs. Furthermore, as factory automation addresses the quality control problem associated with mass production, the demand for factory automation rises along with the need for mass production in the manufacturing industries. Additionally, it lowers production costs by accurately and efficiently creating a large number of items in an optimized amount of time. Furthermore, lowering labor costs through less human intervention lowers overall manufacturing process operating costs, which in turn fuels the need for industrial automation.
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What is the expected growth of the Factory Automation Market when broken down by Component?
Component predicts that Industrial Robots will lead the industrial automation market in 2023 and will expand at a compound annual growth rate (CAGR) of 6.4% over the course of the forecast period. The automotive and heavy engineering sectors are the main industries observing a need for industrial robots. Furthermore, there is a greater need for industrial robots due to the growing need for intelligent production in unconventional fields like microelectronics. The growing need for industrial robots to complete crucial tasks quickly and safely at work is mostly attributable to the heavy engineering sector. The need for robots has also grown as a result of the manufacturing sector's increased need for mass production, the removal of customs taxes, and the developing robotics and artificial intelligence (AI) industries.
What is the process for segmenting the Factory Automation Market?
by Control Safety System
Distributed Control System (DCS)
Supervisory Control and Data Acquisition System (SCADA)
Manufacturing Execution System (MES)
Safety Instrumented System (SIS)
Programmable Logic Controller (PLC)
Human Machine Interface (HMI)
by Component
Sensor
Controller
Switch Relay
Industrial Robot
Drive
Others
by Industry Vertical
Automotive Manufacturing
Food Beverage
Oil Gas Processing
Mining
Others
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Factory Automation Market Key Players:
1. ABB Ltd
2. Emerson Electric Company
3. GE Company
4. Honeywell International Incorporation
5. Mitsubishi Electric Factory Automation
6. Omron Corporation
7. Rockwell Automation, Inc.
8. Schneider Electric SA
9. Siemens AG
10.Yokogawa Electric corporation
11.Kuka AG
12.Keyence Corporation
13.Fanuc Corporation
14.Bosch Rexroth
15.Fuji Electric Co., Ltd.
16.Endress+Hauser
17.Hitachi Ltd.
Factory Automation Market Regional Insights:
The report offers a comprehensive examination of the size and trends of the Factory Automation Market across various global regions. These regions include North America, Latin America, the Middle East and Africa, Asia Pacific, and Europe. It delivers an in-depth analysis of key factors for each region, such as import and export volumes, growth rates, market size, and other critical variables.
Key questions answered in the Factory Automation Market are:
- What does the Factory Automation Market refer to?
- What was the size of the Factory Automation Market?
- What is the expected growth rate for the Factory Automation Market?
- What factors are anticipated to drive growth in the Factory Automation Market?
- What are the different segments within the Factory Automation Market?
- What growth strategies are companies considering to enhance their presence in the Factory Automation Market?
- What are the emerging applications and trends in the Factory Automation Market?
- What recent industry trends could create additional revenue streams for the Factory Automation Market?
- Who are the leading companies in the Factory Automation Market, and what products do they offer?
- What segments are included in the Factory Automation Market analysis?
- Who are the key players in the Factory Automation Market?
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