Portland, OR -- (SBWire) -- 10/13/2017 --Industrial control and factory automation system is an automated or manually driven system that controls various operations in manufacturing plants using control system. It performs operations, such as opening and closing valves and monitoring the local environment for alarm conditions. Switching on telephone networks and collecting data from sensor systems is possible with the help of industrial control and factory automation system. The primary benefit of the system is minimal use of labor, energy, and materials in the factory. It also improves quality, precision, & accuracy.
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Adoption of IOT and advancement in M2M communication technology are factors propelling the growth of the industrial control and factory automation market. However, lack of skilled professionals and requirement of high investment to shift from traditional manufacturing to smart manufacturing are factors restraining the growth of the market. On the other hand, industrial revolution 4.0 would create opportunities in the market.
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The industrial control and factory automation market are segmented into technology, component, industry, and geography. The technology segment is further classified into SCADA, PLC & RTU, DCS, MES, HMI, and safety. The components covered in the market are the industrial robot, machine vision, valve, control device, and field instrument. On the basis of industry, the market is classified into discrete and process industry. Geographically, the market is segmented based on North America, South America, Europe, Asia-Pacific, and Latin America, Middle East and Africa (LAMEA).
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The prominent companies operating in the market are Siemens AG, Rockwell Automation, ABB Ltd., Schneider Electric, General Electric, Emerson Electric Corporation, Honeywell International Inc., Mitsubishi Electric, Yokogawa, and Johnson Controls. They have adopted strategies, such as mergers & acquisitions, partnerships, collaborations, expansions, new product launches, joint ventures, agreements, and others to strengthen their position in the market.
Industrial Control and Factory Automation Market 2017-2023, Communication Technology Are Factors Propelling the Growth
World Industrial Control and Factory Automation Market - Opportunities and Forecasts, 2017-2023