Global Factory Automation Market size was valued at US$ 195 Billion in 2020 and the total Factory Automation revenue is expected to grow at 8.8% through 2021 to 2027, reaching nearly US$ 351.9 Billion.
Factory Automation Market Overview:
Maximize Market Research provides a brief description of Global Factory Automation Market, provides the latest snapshots of the market, and best understands its features. The report provides an overview of the market with standard topics highlighted with data adjusted as needed. This overview will help you decide how to approach the market and understand the situation in the industry. This research methodology has been applied to examine the Global Factory Automation Market and these findings have been logically mentioned in this report.
Factory automation is a set of technologies that reduce the need for human intervention in various operations and system maintenance. Pre-planned decision flows, inter-process networking, and related actions, as well as installing those pre-planned decision criteria in production machines, reduce human interaction. Machines, conveyor belts, boilers, and heat-treating mechanisms, network switching mechanisms, aircraft autopilot systems, and other applications and systems are all examples of factory automation.
One of the factors driving the growth of the fa is the rise of well-connected companies and the need for mass manufacturing of products, government initiatives to advance industrial automation, endorsement of new technologies such as IoT and AI in automation environments, attention on factory automation and optimal utilisation of available resources, and economic policies implemented by local financial bodies to keep factory automation facilities afloat amidst the COVID-19 crisis.
The rise of well-connected companies and the need for mass manufacturing of products, government initiatives to advance industrial automation, endorsement of new technologies such as IoT and AI in automation environments, attention on factory automation and optimal resource utilisation, and economic policies implemented by local financial bodies to keep factory automation facilities afloat amidst the COVID-related crisis are some of the factors driving the growth of the fa.
Market Scope:
The Factory Automation market report thoroughly covers analysed insights of key players in terms of market, applications, and geographies to help you identify competition both domestic and globally. The research also includes available micro market investment options for investors, as well as a full analysis of the competitive landscape and significant product offered by companies.
Factory Automation Report provides in-depth knowledge and comprehension of trends, dynamics, and other topics. The research identifies the most important trends that will have an impact on the business. It aids in the identification of the information included in the research determining the competitive landscape of key companies, factors affecting the market, and other aspects that can help you determine whether your present marketing plans are on track and how to enhance them.
Factory Automation Market Dynamics:
The report covers comprehensive data on market drivers, restraints, emerging trends, and growth opportunities that can change the market dynamics of the end use industry. It provides an in-depth analysis of the Factory Automation Market segments which include products, applications, and competitor analysis.
The fourth industrial revolution, which is predicted to provide various collaborations and partnership opportunities in the worldwide market, is expected to be a major driver of the factory automation market. Consumer demands for individualised or tailored services, for example, are compelling many companies to adopt the fourth industrial revolution fully. The factory automation market is expected to grow in the forecast future as a result of such brave efforts taken by various automation industries (2021-2027).
The significant capital investments necessary for the adoption of various automation systems are a major stumbling block to the factory automation market's growth. In the factory automation business, the return on investment is fluid, meaning it cannot be forecast in the early stages of the investment. As a result, small and medium-sized businesses are hesitant to adopt new technologies. The overall market growth is expected to be hampered throughout the forecast period.
The large capital investments required to implement various automation systems are a major stumbling barrier for the factory automation market's growth. The return on investment in the factory automation industry is fluid, which means it can't be predicted in the early stages of the project. As a result, small and medium-sized firms are wary about implementing new technology. Throughout the projection period, overall market growth is expected to be restricted.
PESTEL Analysis:
Report provided by Maximize Market Research gives PESTEL Analysis which helps you in designing the business strategies. Political factors like tax policy, environmental regulations, tariffs etc. helps you determine the extent to which a government may influence the Factory Automation market. Economic factors like interest, exchange, inflation and wage rates, minimum wage, etc. helps in analysing determinants to economy’s performance that impacts Factory Automation market.
Social factors like cultural norms and expectations, health consciousness, population growth rates etc. helps in planning marketing analytics and strategies. Technological factors like innovations and developments in technologies can impact market growth. Legal factors like changes to legislation impacting employment, access to materials, etc. can help you understand the impact on market in a region or country. Legal factors helps in understanding effect of the surrounding environment and the influence of ecological aspects for Factory Automation market.
Competitive Landscape and Factory Automation Market Share Analysis:
The competitive landscape for the Factory Automation market gives statistics and data on the various competitors. The study provides a detailed analysis and reliable revenue information for the player from 2018 to 2021. It also includes a detailed analysis based on accurate revenue (global and regional) information for the period 2018-2021. Company description, principal business, total revenue and sales, revenue earned in the Factory Automation business, date of entry into the Factory Automation market, Factory Automation product introduction, recent advancements, and other details are given.
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Segmentation:
In the year 2020, the hardware segment dominated the factory automation market. During the forecast period, the software segment is expected to increase the most (2021-2027). This is due to the availability and demand for various automation software such as HMI (Human-Machine Interface), MOM (Manufacturing Operations Management), and SCADA (Supervisory Control and Data Acquisition). In the same forecast period, however, the hardware category is expected to rise due to the high demand for industrial robots.
In the forecast period, the PLC and sensors are expected to increase at a CAGR of 8.7% and 7.5 percent, respectively (2021-2027). Sensors have grown in popularity as a result of their installation and calibration flexibility, as well as their effective metallic detecting capabilities. In the year 2027, motion sensors and photoelectric sensors are expected to dominate the sensor market. Conveyor belts and robotics are examples of equipment that use servo drives for position control. In the same projection period, their diverse applications across all levels of automation are expected to boost market expansion. Control systems, such as HMI, and motors, are two further divisions. DC motors are employed in automation applications that require the handling of large loads.
Key Players:
• Bosch Rexroth
• Fuji Electric Co., Ltd.
• Endress+Hauser AG
• Hitachi Ltd.
• Legrand Holding Inc
• Kontron Inc
• Baldor Electric Company
• SICK AG
• General Cables Corp
• Pepperl+Fuchs
• Danaher Corp
• ABB Ltd.
• Emerson Electric Company
• GE Company
• Honeywell International Incorporation
• Mitsubishi Electric Factory Automation
• Omron Corporation
• Rockwell Automation, Inc.
• Schneider Electric SA
• Siemens AG
• Yokogawa Electric Corporation
• Kuka AG
• Keyence Corporation
• Fanuc Corporation
The competitive landscape is an important component of Factory Automation market that every crucial player should be aware of. The research report covers the competitive landscape of the worldwide Factory Automation market, allowing readers to understand competitiveness at both the domestic and global levels. Areas of operation, production, and product portfolio are all important considerations. The report also focuses on BCG matrix, competitive benchmarking, and SWOT analysis in addition to Factory Automation Market Share analysis of companies, detailed profiling of products and business overview.
Regional Analysis:
Our reports' Regional insights ensure that you are well-informed on the Factory Automation market on a regional level. Understanding local energy, economic, political, and geographic variables is critical for any meaningful assessment of viable policy options in response to global market change. Our report enables you to understand regional insights ensuring the effects on Factory Automation market and local growth opportunities, restraints domestic area wise as well.
COVID-19 Impact Analysis on Factory Automation Market:
COVID-19 has a thorough impact on the Factory Automation market in North America, Asia Pacific, the Middle East, Europe, and South America, according to the report offered by Maximize Market Research. During this crisis, our report presents a comprehensive examination of alternatives, challenging conditions, and difficult situations in the Factory Automation market. The study briefly discusses the benefits as well as the challenges of the COVID-19 in terms of funding and market expansion. The updated study provides insights, analysis, estimates, and forecasts that take into account the impact of COVID 19 on the Factory Automation market.
Key Questions answered in the Factory Automation Market Report are:
- Which product segment grabbed the largest share in the Factory Automation market?
- How is the competitive scenario of the Factory Automation market?
- Which are the key factors aiding the Factory Automation market growth?
- Which region holds the maximum share in the Factory Automation market?
- What will be the CAGR of the Factory Automation market during the forecast period?
- Which application segment emerged as the leading segment in the Factory Automation market?
- Which are the prominent players in the Factory Automation market?
- What key trends are likely to emerge in the Factory Automation market in the coming years?
- What will be the Factory Automation market size by 2027?
- Which company held the largest share in the Factory Automation market?
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