Market Research Future published a research report on “Industry Controls and Factory Automation Market Information Report- Global Forecast to 2023 ” – Market Analysis, Scope, Stake, Progress, Trends and Forecast Report to 2023.
Market Synopsis
As per the analysis by Market Research Future Reports (MRFR), the global industry controls and factory automation market 2020 is projected to be negatively affected by the outbreak of COVID-19. The industrial sector has been facing restrictions prevailing and has affected the supply chains of the factories significantly.
The increasing usage of technologies in the manufacturing sector has played a major role in expanding the global Industry Controls and Factory Automation Market. Besides, there has been a surge in the adoption of industrial robots in the manufacturing sector influenced by the collaborative robots, industrial automation in several sectors, and the growing initiatives are taken by the government have further propelled the market. Besides, meeting the increasing demand of the rising population and the inclination towards industrial automation and optimum utilization of resources are some of the most significant factors augmenting the market expansion. The research reveals the global industry controls and factory automation market is estimated to rise at a CAGR of 9.30% during the review period.
Key Players
MRFR register important companies operating in the world Industry Controls and Factory Automation Market. They are; Schneider Electric, ABB, Siemens, Emerson, Rockwell Automation, General Electric, Mitsubishi Electric Corporation, 3D Systems, Yokogawa, Honeywell, Omron, Fanuc, Dwyer, Stratasys, Wika, Endress+Hauser, and HP. The report elaborated on factors associated with the market rise and the short and long term influence of the corona issues on the market.
Segment Analysis
The segment study of the Industrial controls and factory automation market is based on solution, industry, and component. The end-use based, the Industrial controls and factory automation market segments are process industry that include Paper & Pulp, chemicals, Oil & Gas, Food & Beverage, Pharmaceuticals, Power, Mining & Metals, and Others; and discrete industry that include Semiconductor & Electronics, Automotive, Aerospace & Defense, Medical Devices, Machine Manufacturing, and others.
The mining and metals industry can bring considerable business for the global industry controls and factory automation market, as increase in mineral extraction activities and fabrication of metals are observed. The metal industry deploys Industrial controls and factory automation for forging, grinding, and spinning. Thus, the industry control and factory automation market expansion can be concluded to be driven due to the adoption of automation solution to execute rigorous activities in the growing metals & mining industry. The rise in productivity, minimizes wear, improvement in quality of operations, and enhances reliability can boost the expansion of the world market.
Regional Analysis
The geographical analysis of Asia Pacific, North America, Europe, and the Middle East & Africa, and South America had been conducted. As per the analysis by MRFR, the APAC region. Among all nations in APAC, China, and India is estimated to contribute significantly to the market growth. The rapid urbanization and rising competition is the factor driving the regional market. Moreover, sectors such as food and beverage, power generation, pharmaceutical, and chemicals are expanding at a fast pace, which is propelling the regional market. However, the outbreak of COVID-19 has brought a significant impact on the market. China is making attempts to retrieve its production activities since it acquires the forefront position of the global installation and production of automation and robotics. The pandemic has caused a significant reduction in exports due to the disrupted supply chain and spread of the pandemic. Besides, the spread of COVID-19 in Europe and North America is causing additional troubles for the Chinese manufacturing businesses, which influences the global market. The second position is attained by North America. The market is estimated to grow significantly in the forthcoming period. The region has a strong presence of established ley players, which augments the market in the region.
Table Of Contents: Global Industry Controls and Factory Automation Market
- Executive Summary
- Scope of The Report
- Industry Controls and Factory Automation Market Landscape
- Industry Controls and Factory Automation Market Sizing
- Industry Controls and Factory Automation Market Segmentation by Product
- Five Forces Analysis
- Customer Landscape
- Geographic Landscape
- Decision Framework
- Drivers and Challenges
- Market Trends
- Vendor Landscape
- Vendor Analysis
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