Industrial Control and Factory Automation Market - Global Industry Analysis, Market Size, Share, Trends, Analysis, Growth and Forecast 2016 - 2024
Albany, NY -- (SBWIRE) -- 01/11/2017 -- The manufacturing industry has been greatly revolutionized thanks to its inclination towards the adoption of automation technologies and the emergence of information technology. In a report titled "Industrial Control & Factory Automation Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023", Transparency Market Research states that the global industrial control and factory automation market is primarily driven by the growing need to reduce labor and production costs and at the same time, increase the overall production output. This report uses the latest analytical tools to give readers a quantitative as well as qualitative assessment of the workings of the market.
Industrial control and factory automation is directed at a wide target audience comprising manufacturing companies, product lifecycle management players, automation product manufacturers, system integrators, manufacturing execution system players, OEMs, and several end-use verticals. These end-use verticals can be part of the process industry or the discrete industry. Some of the prominent end users of industrial control and factory automation are chemical, pharmaceuticals, food and beverages, petrochemicals and fertilizers, oil and gas, paper and pulp, mining and metals, electric power generation, and water and wastewater management. Industrial control and factory automation also finds application in machine manufacturing, electrical and electronics, automotive and transportation, and defense and aerospace.
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The most commonly used automation systems include SCADA, conveyor belts, conveyance systems, distributed control systems (DCS), human machine interface (HMI), and programmable logic controllers (PLC). Robotic arms are also widely used in factory automation owing to the advantages they present in handling such as reduction in labor costs, better precision, and reduction in the risk of production accidents.
The research report segments the global industrial control and factory automation market on the basis of geography into four key segments: Asia Pacific, Europe, North America, and Rest of the World. Europe and North America are the largest markets for industrial control and factory automation mainly because of the large scale automation in industries such as petrochemicals, mining, oil and gas, pharmaceuticals, chemicals, pulp and paper, and power plants. However, the focus is rapidly shifting to the Asia Pacific market, where a large number of players are establishing base owing to massive population base, lower manufacturing costs, beneficial government policies, and cheap labor. Rapid industrialization and urbanization in countries such as India has also spurred several mergers and collaborations in the region, thereby fueling the industrial control and factory automation market in Asia Pacific.
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The leading companies competing in the global market include Honeywell International (US), Mitsubishi Electric (Japan), Johnson Controls (US), Rockwell Automation (US), Schneider Electric SA (France), Yokogawa Electric (Japan), ABB, Ltd. (Switzerland), General Electric Company (US), Siemens AG (Germany), and Emerson Electric Co. (US).