Industrial Controls and Factory Automation Market Size to Grow by $ 60.15 Billion During 2021-2025
Technavio has been monitoring the industrial controls and factory automation market and it is expected to grow by $ 60.15 billion, accelerating at a CAGR of almost 6.93% during the forecast period. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking
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Industrial Controls And Factory Automation Market: APAC to lead market growth during the forecast period
- 42% of the market growth will originate from APAC during the forecast period due to factors such as the development of port infrastructure are accelerating the industrial controls and factory automation market growth in APAC.
- Growth by the SCADA segment will be significant during the forecast period. The increasing need to control, monitor, and visualize the entire process, specifically to optimize the cost and achieve operational efficiency, is driving the deployment of SCADA systems in process and discrete industries.
- Changing market dynamics will be a significant factor in driving the growth of the industrial controls and factory automation market.
Industrial Controls And Factory Automation Market: Key Competitors
The market is fragmented. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. ABB Ltd., Dassault Systemes SE, Emerson Electric Co., Endress+Hauser Group Services AG, General Electric Co., Honeywell International Inc., Schneider Electric SE, Siemens AG, WIKA Alexander Wiegand SE & Co. KG, and Yokogawa Electric Corp. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.
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Industrial Controls And Factory Automation Market: Key Highlights of the Report for 2021-2025
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive industrial controls and factory automation market growth during the next five years
- Precise estimation of the industrial controls and factory automation market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the industrial controls and factory automation market industry across APAC, North America, Europe, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of industrial controls and factory automation market vendors
The report provides insights into the following FAQs:
- What is the market CAGR?
The market is accelerate at a CAGR of 6.93%.
- What is the incremental growth of the market?
The market is expected to grow by $ 60.15 bn through 2021-2025.
- What is a key factor driving this market?
Changing market dynamics will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
APAC, North America, Europe, South America, and MEA are the key regions featured in this research report.
- Which is the leading geographic region for this market:
42% growth will originate from APAC
- Who are the leading market vendors?
The leading vendors in this market are ABB Ltd., Dassault Systemes SE, Emerson Electric Co., Endress+Hauser Group Services AG, General Electric Co., Honeywell International Inc., Schneider Electric SE, Siemens AG, WIKA Alexander Wiegand SE & Co. KG, and Yokogawa Electric Corp.
- What are the market segments covered in this report?
The market is segmented by Product (SCADA, PLC, DCS, Drives, and Sensors), Geography (APAC, North America, Europe, South America, and MEA), and End-user (Process industry and Discrete industry)
