Authored By: Sarah
14 Dec 2021

Factory Automation Platform As A Service Market: Key Drivers and Segmentation

Market Insights to Drive Recovery from COVID-19

The Global Factory Automation Platform As A Service Market is projected to grow by USD 2.92 bn, accelerating at a CAGR of over 20% till 2024. This research report delineates the growth drivers that will boost market growth along with a detailed analysis of the market segments, trends and challenges that are likely to impact market growth.


Request for our free sample report to get a glimpse into our exhaustive research and analysis: Download FREE Sample Report


Factory Automation Platform As A Service Market: Key Market Drivers

^A detailed study of market drivers enables market players to leverage these factors to drive growth. Technavio’s research reports provide a comprehensive analysis of all the other factors that will drive market growth during the forecast period. In addition to market drivers, our research report also studies the latest trends and challenges that are likely to influence growth in the current market scenario. One of the key drivers that will boost this market is ease of IT and OT convergence. For more insights on the impact of this and all the other drivers, request for our FREE sample report:

Top Drivers for Factory Automation Platform As A Service Market Size to Grow by USD 2.92 bn During 2020-2024

Factory Automation Platform As A Service Market: Growth Segments

This report provides a detailed analysis of the market by Service (Platform and Professional service) and Geographic (North America, APAC, Europe, South America, and MEA). This research report will provide insights into the current market share of each segment along with growth projections for the next five years. In addition, the report also offers a detailed impact analysis of various trends, drivers, and challenges on each market segment along with insights into the way forward. These insights will equip clients with information that will help them design a growth strategy for their business and area of operation. Request our Free Sample Report 

Factory Automation Platform As A Service Market: Vendor Landscape

The market is fragmented, and the growth of the players depends on several factors such as market conditions, government support, and industry development. Marke players must distinguish their product and service offerings through a clear and unique value proposition to prosper in this competitive market.  Advantech Co. Ltd., Emerson Electric Co., Hitachi Ltd., Honeywell International Inc., Microsoft Corp., Mitsubishi Electric Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Telit Communication Plc are some of the major market participants. The report offers a detailed analysis of each of the above-listed vendors and their product portfolio.

Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.

For more insights on this market: Download a Free Sample Report

The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market is accelerate at a CAGR of over 20%.
     
  2. What is the incremental growth of the market?
    The market is expected to grow by USD 2.92 bn through 2020-2024.
     
  3. What is a key factor driving this market?
    ease of IT and OT convergence will drive market growth over the forecast period.
     
  4. What are the key regions covered in this market research report?
    North America, APAC, Europe, South America, and MEA are the key regions featured in this research report.
     
  5. Which is the leading geographic region for this market:
    37% growth will originate from North America
     
  6. Who are the leading market vendors?
    The leading vendors in this market are Advantech Co. Ltd., Emerson Electric Co., Hitachi Ltd., Honeywell International Inc., Microsoft Corp., Mitsubishi Electric Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Telit Communication Plc
     
  7. What are the market segments covered in this report?
    The market is segmented by Service (Platform and Professional service) and Geographic (North America, APAC, Europe, South America, and MEA)

Factory Automation Platform As A Service Market: Key Drivers and Segmentation

Growth Drivers and Market Forecast for 2020-2024

The Global Factory Automation Platform As A Service Market is projected to grow by USD 2.92 bn, accelerating at a CAGR of over 20% till 2024. This research report delineates the growth drivers that will boost market growth along with a detailed analysis of the market segments, trends and challenges that are likely to impact market growth.


Request for our free sample report to get a glimpse into our exhaustive research and analysis: Download FREE Sample Report


Factory Automation Platform As A Service Market: What are the factors that will drive market growth?

Technavio has identified  ease of IT and OT convergence as one of the key factors that will drive this market. This research report provides a comprehensive analysis of this and all the other factors that will propel market growth. The report also takes into account the current market scenario, trends, and challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.

Top Drivers for Factory Automation Platform As A Service Market Size to Grow by USD 2.92 bn During 2020-2024

Factory Automation Platform As A Service Market: Segments and Geographical Regions

This report provides a detailed analysis of the market by Service (Platform and Professional service) and Geographic (North America, APAC, Europe, South America, and MEA). This research report will provide insights into the current market share of each segment along with growth projections for the next five years. In addition, the report also offers a detailed impact analysis of various trends, drivers, and challenges on each market segment along with insights into the way forward. These insights will equip clients with information that will help them design a growth strategy for their business and area of operation. Request our Free Sample Report 

Factory Automation Platform As A Service Market: Vendor Landscape

The market is fragmented due to the presence of several players. 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. Advantech Co. Ltd., Emerson Electric Co., Hitachi Ltd., Honeywell International Inc., Microsoft Corp., Mitsubishi Electric Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Telit Communication Plc 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.

Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.

For more insights on this market: Download a Free Sample Report

The report provides insights into the following FAQs:

  1. What is the market CAGR?
    The market is accelerate at a CAGR of over 20%.
     
  2. What is the incremental growth of the market?
    The market is expected to grow by USD 2.92 bn through 2020-2024.
     
  3. What is a key factor driving this market?
    ease of IT and OT convergence will drive market growth over the forecast period.
     
  4. What are the key regions covered in this market research report?
    North America, APAC, Europe, South America, and MEA are the key regions featured in this research report.
     
  5. Which is the leading geographic region for this market:
    37% growth will originate from North America
     
  6. Who are the leading market vendors?
    The leading vendors in this market are Advantech Co. Ltd., Emerson Electric Co., Hitachi Ltd., Honeywell International Inc., Microsoft Corp., Mitsubishi Electric Corp., Rockwell Automation Inc., Schneider Electric SE, Siemens AG, and Telit Communication Plc
     
  7. What are the market segments covered in this report?
    The market is segmented by Service (Platform and Professional service) and Geographic (North America, APAC, Europe, South America, and MEA)
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