Dallas, TX -- (SBWIRE) -- 05/28/2014 -- According to a new market research report of "Industry Control and Factory Automation Market by Technology (ICS, MES, ERP, ITS), Field Devices (Industrial Network, RFID, Industrial Robotics and Control Devices), Application (Process, Discrete) - Global Forecast & Analysis to 2014 - 2020" , the market is projected to reach $301.9 Billion by 2020, from $171.2 Billion in the year 2013, with a CAGR of 8.53%.
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Integration of smart mechanical systems with IT technology has pushed the Industrial Controls and Factory Automation Market to the new heights. These systems are now being used in the industries to make the standardized and reliable production activities. The automation in the production activities are offering advantages in: cost-efficiency, waste reduction, speed production, ease in production monitoring and management, reduced feedback and action times, over the traditional manual processes. The various mechanical instruments and devices are coupled with the smart computing or IT systems for the better results in automation. The scope of the industrial controls and factory automation is not limited to the production floor, but it is extended to the overall business processes. The software systems like Enterprise Resource planning (ERP) are helping the market to extend their service offerings. It is indirectly offering customers better quality, standardized and reliable products within time and at affordable cost.
Browse 105 market data Tables and 57 Figures spread through 373 Pages and in-depth TOC on "Industry Control and Factory Automation Market".
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The Industrial control and Factory automation is an emerging trend in the manufacturing organizations, providing smart manufacturing setup. The Industrial Control and Factory Automation provide cost efficiency, quality and standard production, reliability and flexibility in the production process. The industrial control and factory automation includes the perfect blend of mechanical components, devices and Information Technology. The emerging applications like Heating Ventilation Air Conditioning (HVAC) systems, Human Machine Interface (HMI) and electronic power distribution systems will further surge the demand of industrial controls and automation systems in the coming future.
The overall Industrial control and Factory automation is segmented on the basis of: Technology, Field Devices, Applications and Geography markets. All the major segments are further segmented into sub segments, with separate classification. The Industrial Control and Factory Automation Market is expected to reach to $301.9 Billion by the year 2020, from $171.2 Billion in 2013, with a projected CAGR of 8.53%
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The market is driven by the increasing prominence on energy saving and improving efficiency. The ‘Internet of things’ and the promising trend of cloud based technologies and services are increasing the scope of the industrial controls and factory automation system. The number of internet users have increased drastically in the last decade and almost doubled in the last eight years. With the advancement in wireless technology protocols there has been development in products like introduction of wireless PLC’s, and wireless Remote Terminal Units (RTU), and so on in order to make the automation control systems compatible with the wireless protocols. The countries and governments are promoting the automated and smart manufacturing activities. The market is finding good prospects in the emerging manufacturing bases, increased scope of refurbished robot markets and attractive but untapped potential market of field devices such as Radio Frequency Identification Device (RFID) and Industrial robots. The market is fuelling in the emerging economies like India, China and Brazil.
The emphasis by market players on energy saving and efficiency improvement is driving the market, with other market driver factors like internet of things and services integrating manufacturing and engineering, country and government impetus to manufacturing activities and shifting manufacturing base.
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Geographical split for the Industrial Control and Factory Automation Market is included in the report. It presents the market size of the different geographies. Industrial Control and Factory Automation Market report divides the overall market based on the four major geographical segments- The Americas, Europe, APAC, and Rest of the world (ROW). The Americas region is the market leader in the Industrial Controls and Factory Automation market. The APAC region is projected to show the highest CAGR amongst other regions.
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