MarketStudyReport.com adds “Global Factory Automation Market – Growth, Trends, and Forecasts (2015-2020)”new report to its research database.
The Global Factory Automation Market was valued at USD XX.XX in 2015 and is projected to reach USD 257.11 billion by 2020, at a CAGR of 8.58% during the forecast period from 2015 to 2020.
The global factory automation market is segmented on the basis of products into machine vision, sensors, motion & drives, industrial controls systems, manufacturing execution systems, replays & switches, field devices, software, and others. On the basis of end user industry, the market has been segmented into energy automotive, chemicals, packaging, textile, food processing, and others. On the basis of geography, the market has been segmented into North America (United, States, Canada, others), Europe (United Kingdom, Germany, France, others), Asia-Pacific (China, Japan, South Korea, others), and Latin America (Brazil, Argentina, Mexico, others), Middle-East & Africa (Saudi Arabia, South Africa, Israel, others).
The advent of technology over the past few years has enabled the coupling of mechanical devices with computers, which has resulted in the development of automated equipment capable of producing significantly higher production rates over conventional machines. The increasing cost of labour, combined with immense pressure on manufacturers to meet deadlines, has resulted in the increasing automation in factories across the world.
The seamless integration of hardware and software enables manufacturing with reduced wastage, fewer numbers of accidents and, robust and accurate products in an economically profitable way. These systems also offer better monitoring and maintenance options, thereby, reducing glitches in the manufacturing process. Developments in the wireless technology have opened up new avenues for this market.
North America leads the market with the United States accounting for the major share. Industry friendly policies of the government are driving the market ahead. The APAC region is forecasted to have the highest growth owing to the rapid increase in the manufacturing facilities of this region. China is projected to have the highest growth with an increasing labour crunch, while Japan and Korea are also expected to have a significant share of the Asian market. The focus of major players, such as Siemens and ABB, is shifting towards this high potential region with products focussed on industries in emerging economies like India.
Major companies in the market, such as ABB, General Electric, Siemens, and various others, are pushing for more applications of the service in the market. These companies have been studied and their strategies have been analysed in the report. The report is divided by geography where the market share of each region is analysed and estimates are provided for the given forecast period.
Key Deliverables in the Study
- Market analysis for the Global Factory Automation Market, with region specific assessments and competition analysis on global and regional scales
- Market definition along with the identification of key drivers and restraints
- Identification of factors instrumental in changing the market scenarios, rising prospective opportunities, and identification of key companies that can influence this market
- Extensively researched competitive landscape section with profiles of major companies along with their market shares
- Identification and analysis of the macro and micro factors that affect the global factory automation market on both global and regional scales
- A comprehensive list of key market players along with the analysis of their current strategic interests and key financial information
- A wide-ranging knowledge and insights about the major players in this industry and the key strategies adopted by them to sustain and grow in the studied market
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