Albany, NY -- (SBWIRE) -- 10/15/2018 -- The detailed study on the global factory automation and industrial controls market offers a granular assessment of various adoption trends and developments, promising avenues, lucrative prospects, drivers and restraints, and factors shaping the competitive contours of the market.

The drive for factory automation and industrial controls stems from the need for substantially improving process efficiencies and at the same time reducing the cost of production in various industries. Some of the key end-use industries are automotive, chemicals and petrochemicals, utilities, pharmaceuticals, food and beverages, and oil and gas. The rising deployment of internet of things (IoT) and machine-to-machine (M2M) technologies in various process industries in numerous countries over the world is a notable factor propelling the growth of the factory automation and industrial controls market. The popularity of automation system in various industry verticals is bolstered by the rising adoption of smart manufacturing process, especially in developing and developed nations.

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The global factory automation and industrial controls market is expected to witness large growth momentum from the rapid strides being taken by industrial internet technologies. Sizeable investments, both by private players and governments of several countries, aimed at boosting production capacities across industry verticals is also catalyzing the expansion of the market. The demand for the equipment for factory automation is also bolstered by the need for integrated supply chains for businesses in various industries.

The lack of technical expertise for integrating factory automation and industrial controls with the conventional systems, especially in less developed regions, is a key bottleneck for the market's expansion. In recent years, the lack of standardization of products has also emerged as a key challenge to the rapid adoption of these systems. Nevertheless, the advent of user-friendly and intuitive factory automation and industrial controls technologies has helped market players address some of the aforementioned concerns. Moreover, growing trend of mass customization of factory automation and industrial controls is a factor boosting adoption.

Furthermore, increasing inclination toward the adoption of safe production processes in process industries also augurs well for the market. Regionally, emerging economies are expected to be potentially promising markets for factory automation and industrial controls, and the emerging avenues are attributed to the rapid pace of industrialization.

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Several vendors of factory automation and industrial controls are leveraging on the benefits of cloud-based solutions and increasingly offering on-demand customization. Numerous players are also focusing on reducing the hassle and the cost of the implementation. Some of the prominent players operating in the factory automation and industrial controls market are Texas Instruments, Robert Bosch GmbH, Siemens, Mitsubishi Electric, ABB Group, Dassault Systemes, Honeywell International Inc., and Rockwell Automation.

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