Industrial Control and Factory Automation Market 2015-2020
DUBLIN, Oct. 07 2015 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/hhvwkl/industrial) has announced the addition of the "Industrial Control and Factory Automation Market by Technology (SCADA, PLC & RTU, DCS, MES, HMI, and Safety), Component (Industrial Robot, MACHINE Vision, Valve, Control Device, and Field Instrument), Industry, & Geography - Global Forecast to 2020 " report to their offering.
The industrial control and factory automation market is expected to reach USD 202.42 Billion by 2020 at a CAGR of 6.73% from 2015 to 2020
This report focuses on detailed segmentations of the market, combined with qualitative and quantitative analyses of each and every aspect of the classification on the basis of technology, component, and industry. All the numbers, at every level of detail, are forecast till 2020, to give a glimpse of the potential market size in terms of value.
The emergence of the information technology and the inclination of the manufacturing sector towards the adoption of automated technologies have revolutionized the manufacturing sector. Manufacturing is on the brink of a massive change as new connected automated systems are now making their way onto the factory floor, serving as the foundation for creating smart factories. Now, the world is moving towards the next stage of the industrial revolution, where the focus is on building a new generation of cyber-physical systems that improve productivity by delivering fully connected, intelligent manufacturing systems capable of supporting high levels of customization, flexibility, and end-to-end manufacturing process automation.
The main factors driving the industrial control and factory automation market are adoption of IoT and advancement in M2M communication technology in the industrial sector, the need of optimal use of resources, waste reduction, and increase in process efficiency, and adoption of new policy reforms by emerging economies with respect to safety and quality. The next industrial revolution Industry- 4.0 and the growing industrial sector in China are likely to create huge opportunities in the industry control and factory automation market.
The Americas had the largest market size in the overall industrial control and factory automation market. The market in APAC is expected to grow at the highest CAGR of 7.86% from 2015 to 2020. The growth in APAC can be attributed to the growing industrial sector in emerging countries such as China and India. Factory automation is increasing in China, due to the large number of automotive manufacturing plants
The competitive landscape of the market presents a very interesting picture, wherein many OEMs in this market have partnered with each other. The market is witnessing large scale contracts and new product launches across the value chain with a number of tier-one players around the globe.
Companies Mentioned
- ABB Ltd.
- Emerson Electric Corporation
- General Electric
- Honeywell International, Inc.
- Johnson Controls, Inc.
- Mitsubishi Electric
- Rockwell Automation, Inc.
- Schnieder Electric
- Siemens AG
- Yokogawa Electric Corporation
For more information visit http://www.researchandmarkets.com/research/hhvwkl/industrial
Media Contact: Laura Wood , +353-1-481-1716, press@researchandmarkets.net
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