Industrial Control and Factory Automation Market Technology (ICS, MES, ERP, ITS) is estimated to Reach $301.9 Billion by 2020 - New Report by MarketsandMarkets
(PRWEB) September 06, 2014 -- According to a recent market research report of "Industry Control and Factory Automation Market by Technology (ICS, MES, ERP, ITS), Field Devices (Industrial Network, RFID, Industrial Robotics and Control Devices), Application (Process, Discrete) - Global Forecast & Analysis to 2014 - 2020", the market is projected to reach $301.9 Billion by 2020, from $171.2 Billion in the year 2013, with a CAGR of 8.53%.
Browse 106 market data Tables and 58 Figures spread through 359 Pages and in-depth TOC on "Industry Control and Factory Automation Market".
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The Industrial control and Factory automation is an emerging trend in the manufacturing organizations, providing smart manufacturing setup. The Industrial Control and Factory Automation provide cost efficiency, quality and standard production, reliability and flexibility in the production process. The industrial control and factory automation includes the perfect blend of mechanical components, devices and Information Technology. The emerging applications like Heating Ventilation Air Conditioning (HVAC) systems, Human Machine Interface (HMI) and electronic power distribution systems will further surge the demand of industrial controls and automation systems in the coming future.
The overall Industrial control and Factory automation is segmented on the basis of: Technology, Field Devices, Applications and Geography markets. All the major segments are further segmented into sub segments, with separate classification. The Industrial Control and Factory Automation Market is expected to reach to $301.9 Billion by the year 2020, from $171.2 Billion in 2013, with a projected CAGR of 8.53%.
Geographical split for the Industrial Control and Factory Automation Market is included in the report. It presents the market size of the different geographies. Industrial Control and Factory Automation Market report divides the overall market based on the four major geographical segments- The Americas, Europe, APAC, and Rest of the world (ROW). The Americas region is the market leader in the Industrial Controls and Factory Automation market. The APAC region is projected to show the highest CAGR amongst other regions.
With the advancement in technology, the industrial control and factory automation system market is growing with a great pace. The organizations now demand for improved operational efficiency with high quality production, which is possible only with highly efficient working robots and industry automation software systems. In present scenario, where the human activities are also being automated by use of robotics, the industrial control and factory automation system provides great aid to the plant operators to carry out the monitoring and controlling process in a cost-effective manner which in turn increases the operational efficiency of the firm. Benefits of a fully automated control over the manually controlled process are convenience, reduction in process time, and increased efficiency and profitability.
Siemens AG (Germany), an electronics and electrical engineering company, offers wide range of automation technology for process control systems, one of them is namely “SIMATIC PCS 7”. This is a distributed control system (DCS) which is very flexible, scalable, and influential. Its integrated security notion ensures safe, reliable and continuous operation of the system. The benefits offered by this system are increase in system availability time, investment security and future-dependent technology, and reduced cost of ownership. In future, utilizing the industrial control system and factory automation products with the cellular technology and satellite technology will boom the market.
Rockwell Automation (US) provides industrial automation, power, and control and information solutions. The company provides a process automation system namely “PlantPAx”. This system is developed to provide the functionalities of distributed control system with highly rich and unique feature by combining plant wide control technologies with the core capabilities needed for the better operation. With open data communication standards, the system makes real time data available to the organization for better decision and strategy making process. Having industrial control and factory automation systems along with the internet of things will change the present scenario of the control systems.
The market for industry control and factory automation is driven by the increasing focus on energy saving and efficiency improvement. The industrial control devices are making it possible for the organizations to smoothen their production activities also make them standardized, enabling cost cuttings and waste reductions. The Internet of things and services is to play crucial role in the industrial control and factory automation market, as they facilitate improvement in the industry’s engineering, production, logistics and life cycle management as they integrate the factors of production.
The organizations are surviving in the cut-throat competitive environment, where they are striving for having competitive edge over others in production process, and this has pushed the market to the incessant advancement. The market for Industrial Control and factory Automation is finding a prospect in the emerging markets where there is a good scope for the implementation of factory automation systems and these emerging markets are China, India and Brazil. The market for refurbished robots is in upsurge, and also for the robotic systems-manufacturing and parts and servicing. Even the governments of some regions are supporting the use of refurbished robots, by not levying any duty charges.
The emphasis by market players on energy saving and efficiency improvement is driving the market, with other market driver factors like internet of things and services integrating manufacturing and engineering, country and government impetus to manufacturing activities and shifting manufacturing base.
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