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Industrial Control and Factory Automation Market: Overview

Industrial control and factory automation system may consist of equipment, computers, and IT software that reduce human interaction in carrying out different processes in any industry. The automation system helps in streamlining the processes, eliminating errors, increasing productivity, and enhancing the overall operational efficiency. Increasing focus toward cost reduction and the soaring need for precision in various processes have led to the intensive demand of these equipment. The industrial control and factory automation systems include distributed control systems (DCS), supervisory control and data acquisition (SCADA), conveyer belts, programmable logic controllers (PLC), robotic arms, conveyance systems, manufacturing execution systems (MES), and enterprise resource planning (ERP) solutions.

The report on the global industrial control and factory automation market provides an in-depth insight into the current market scenario, key product offerings of players, the current and emerging technology trends, restraining factors, and market share and size of major segments. The factors influencing the demand for industrial automation systems across various sectors are highlighted in the report, which help stakeholders fully comprehend the key elements of the competitive dynamics. Prepared with the help of inputs from a wide spectrum of companies, global industry associations, thought leaders, and forward-looking business executives, the research report analyzes a wealth of data to offer valuable insights. The strategically important insights help market players identify emerging opportunities and capitalize on the imminent investment pockets.

Industrial Control and Factory Automation Market: Key Drivers, Trends, and Opportunities

The global industrial control and factory automation market is primarily driven by the increased focus on enhancing process efficiencies and reducing the cost of production across various industry verticals. Coupled with this, the increasing initiatives of the governments of various countries toward the adoption of automation systems have propelled the growth of the global market. Continuous advancement in industrial Internet technologies has spurred the demand for industrial control and factory automation systems. The need for smart manufacturing processes and connected supply chains has led to the persistent demand for automation systems for businesses.

Considerable capital investment required for installing industrial control and factory automation equipment and the lack of expertise in handling these equipment are likely to impede the growth of the global industrial control and factory automation market to some extent. However, the introduction of user-friendly and intuitive automation system and the cost-effective models of adopting industrial control and factory automation systems are expected to create exciting growth opportunities for market players. Furthermore, the mass customization of factory automation products is anticipated to stimulate the demand for automation systems. In addition, the initiatives to reduce the risks of exposure to different production hazards for workers are expected to offer momentum to the market.

Industrial Control and Factory Automation Market: Regional Outlook

America and Europe are the major markets for industrial control and factory automation. The growth of the market in these regions is driven by the demand for enhancing operational efficiency and streamlining the production processes across diverse industry verticals such as pharmaceuticals, petrochemicals, materials and chemicals, mining, pulp and paper, oil and gas, and power generation. Asia is rapidly emerging as a promising market for industrial control and factory automation. The Asia Pacific market is expected to expand at an impressive CAGR due to low manufacturing cost, increased industrialization in various countries, such as China, Japan, and India, rise in awareness of the benefits of automation, and supportive policies of the regional governments.

Industrial Control and Factory Automation Market: Competitive Landscape

The market players are actively involved in the mass standardization of products that will reduce adoption cost. Leading vendors and developers of ERP solutions are offering on-demand customization to meet the specific requirements of different businesses. To bring down the implementation cost, they are increasingly providing automation solutions as cloud-based offering. Global manufacturers and suppliers are merging with the regional players in emerging regions, particularly Asia Pacific, to capitalize on the immense opportunities in the industrial control and factory automation market.

Major players in the global the industrial control and factory automation market include ABB, Schneider Electric, Siemens, Rockwell Automation, Emerson Process Management, Yokogawa, Honeywell, Ametek Inc, Aspen Technology Inc, and Omron.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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