Global Factory Automation Market 2018-2025 by Control & Safety System, Component and Industry Vertical - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Aug 8, 2018--The “Factory Automation Market by Control and Safety System, Component and Industry Vertical - Global Opportunity Analysis and Industry Forecast, 2017-2025” report has been added to ResearchAndMarkets.com’s offering.
According to the report, the global factory automation market accounted for $190,882.2 million in 2017, and is expected to reach $368,372.4 million by 2025, registering a CAGR of 8.8% from 2018 to 2025.
In 2017, the factory automation market in Europe dominated the global market share in terms of revenue by accruing 35.5% share, which was followed by Asia-Pacific.
The market is driven by factors such as rise in demand for mass production in manufacturing industries that minimizes operational cost.
Moreover, adoption of Industry 4.0 to promote smart manufacturing units that have minimal energy requirements has supplemented the market growth.
However, limited inflow of funds, high investment in implementation of factory automation systems, and dearth of professionals are expected to hamper the growth of the global factory automation market.
The supervisory control and data acquisition system (SCADA) segment accounted for the highest share of about 22% in the global market in 2017 and is expected to grow at a CAGR of 9.1% during the forecast period.
Among industry verticals, the automotive manufacturing sector is expected to be the leading revenue contributor in the coming years, owing to the increasing trend of automating processes to reduce human intervention, improve accuracy, reduce errors, and optimize redundant tasks.
The industrial robots segment accounted for a major share of about 31% of the global market in 2017. The adoption of industrial robots has increased in in developing economies owing to factors such as rapid urbanization, technological advancements, availability of cheap labor, and low manufacturing costs.
Asia-Pacific is one of the fastest growing regions in the global factory automation market. It is expected to witness higher growth rate during the forecast period, owing to supportive government policies, increased investment by key companies for expansion of business, and low manufacturing & labor cost.
Prominent players have focused on developing new products and acquiring small businesses to sustain the competition and expand their market presence.
Key FindingsIn 2017, the automotive manufacturing segment dominated the global factory automation market, in terms of revenue, and is projected to grow at a CAGR of 9.5% during the forecast period. The supervisory control and data acquisition system (SCADA) segment is projected to grow at a CAGR of 9.1% during the forecast period. Asia-Pacific is projected as one of the fastest growing markets for factory automation, and is expected to witness significant growth rate in the near future.
Key Topics Covered
Chapter 1: Introduction
Chapter 2: Executive Summary
Chapter 3: Market Overview
Chapter 4: Factory Automation Market, By Control and Safety System
Chapter 5: Factory Automation Market, By Component
Chapter 6: Factory Automation Market, By Industry Verticals
Chapter 7: Factory Automation Market, By Region
Chapter 8: Company ProfilesABB, Ltd. Emerson Electric Co. General Electric Company Honeywell International Inc. Mitsubishi Electric Corporation OMRON Corporation Rockwell Automation, Inc. Schneider Electric S.E. Siemens AG Yokogawa Electric Corporation
For more information about this report visit https://www.researchandmarkets.com/research/fkrlc5/global_factory?w=4
View source version on businesswire.com:https://www.businesswire.com/news/home/20180808005611/en/
Laura Wood, Senior Manager
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
Related Topics:Industrial Automation
INDUSTRY KEYWORD: MANUFACTURING OTHER MANUFACTURING
SOURCE: Research and Markets
Copyright Business Wire 2018.
PUB: 08/08/2018 01:21 PM/DISC: 08/08/2018 01:20 PM