Industrial Control and Factory Automation Market Is Expected to Reach at a CAGR of 9.08% Between 2018-2024
The industrial control and factory automation market is expected to reach USD 269.5 billion by 2024 from USD 160.0 billion in 2018, at a CAGR of 9.08%. The growth of this market can be attributed to the emphasis on industrial automation and optimum utilization of resources, increasing use of enabling technologies in manufacturing, rising adoption of industrial robots in the manufacturing sector driven by collaborative robots, connected enterprise along with mass production to cater to rising population, and government initiatives...
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