The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The global industrial control & factory automation market is set for remarkable growth, with the market size expected to surge from $137.25 billion in 2022 to $149.17 billion in 2023, showcasing a robust Compound Annual Growth Rate (CAGR) of 8.7%. Looking ahead, the market is projected to reach $203.66 billion in 2027, maintaining a strong CAGR of 8.1%. Let’s explore the key drivers, market players, and emerging trends propelling this upward trajectory.

Connected Enterprises: A Catalyst for Growth

Digitalization Reshaping Industries
The emergence of connected enterprises is poised to drive the growth of the industrial control and factory automation market. These enterprises signify a digital transformation, leveraging IoT technology to enhance operational efficiency. Business process automation plays a pivotal role in the evolution of connected enterprises, enabling factories to function with fewer unskilled resources. The liberated resources can then be redirected towards adopting advanced technologies and digitalization systems. A case in point is the Global Digital Transformation Survey 2021 by Fujitsu, revealing that 78% of business leaders effectively responded to the COVID-19 pandemic by embracing agility, digitalization, and employee well-being. With 44% anticipating that over half of their current business processes will be automated by 2025, business process automation takes a prime spot on the priority list for these enterprises, fostering the growth of the industrial control and factory automation market.

Major Players Steering the Transformation
The industrial control & factory automation market is guided by major players at the forefront of technological innovation. ABB Ltd., Emerson Electric Co., Siemens AG, and Schneider Electric SE are among the key contributors shaping the market landscape. This diverse consortium of major players underlines the competitive and dynamic nature of the industrial control and factory automation sector.

Innovative Endeavors: Product Innovation Takes Center Stage

Driving Trends
A key trend gaining prominence in the industrial control and factory automation market is product innovation. Major companies operating in the industry are investing in the development of innovative products to fortify their market positions. An exemplary move in this direction was made by Schneider Electric in February 2021, with the launch of the EcoStruxure Automation Expert industrial automation system. This groundbreaking software-based system allows users to distribute applications to any system hardware and build applications using asset-centric components. Notably, it facilitates maximum workforce optimization and efficiency, reflecting the industry’s commitment to innovation.

Market Segmentation: Unraveling the Complex Landscape
The global industrial control & factory automation market unfolds its complexity through comprehensive segmentation:

1. By Component: From Industrial Robots and Machine Vision Systems to Industrial 3D Printing and Vibration Monitoring, various components contribute to the market’s vibrancy.
2. By Solution: Distributed Control System (DCS), Supervisory Control and Data Acquisition (SCADA), Programmable Logic Controller (PLC), and more, offer diverse solutions catering to the multifaceted needs of industries.
3. By Industry: The market caters to both Process and Discrete Industries, showcasing adaptability across diverse industrial landscapes.

Regional Dynamics: Asia-Pacific Leading the Charge
In 2022, Asia-Pacific took the lead as the largest region in the industrial control & factory automation market share. The region’s dynamic industrial landscape, coupled with a burgeoning tech-savvy market, positions it as a pivotal player in steering the growth of the industrial control & factory automation sector.

Get A Free Sample On The Global Industrial Control And Factory Automation Market Report:
https://www.thebusinessresearchcompany.com/sample_request?id=8978&type=smp

Read The Full Industrial Control And Factory Automation Market Report Here:
https://www.thebusinessresearchcompany.com/report/industrial-control-and-factory-automation-global-market-report

The Industrial Control And Factory Automation Global Market Report 2023  provides an overview of the industrial control and factory automation market for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The industrial control and factory automation market forecast analyzes industrial control and factory automation market size, industrial control and factory automation market share, leading competitor and their market positions.

Explore Similar Reports From The Business Research Company:
Industrial Controls Global Market Report 2023
Warehouse Automation Global Market Report 2023
Relay And Industrial Controls Global Market Report 2023

Learn More About The Business Research Company
The Business Research Company has published over 6500+ detailed industry reports, spanning over 3000+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.

Contact us at:
The Business Research Company: https://www.thebusinessresearchcompany.com/
Americas +1 3156230293
Asia +44 2071930708
Europe +44 2071930708
Email us at info@tbrc.info

Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model