Industry Controls and Factory Automation Market is expected to expand at USD 251.3 Billion, 8.93% CAGR during the forecast period
Market Research Future (MRFR), studied the long-term and short term impact of COVID-19 on the global Industry Controls and Factory Automation Market 2021. As per MRFR analysis, the Industry Controls and Factory Automation global Market can rise at about 9.30% CAGR in the forecast period. The report on the Industry Controls and Factory Automation Market comes along with detailed analysis of the COVID-19 pandemic impact on the market. Increase in Industrial controls and factory automation systems, such as control systems and other related networks can prompt the expansion of the world industry control and factory automation market across the globe.
The rise in applications of industrial automation components to control different processes and assets can boost the expansion of the world market of industry control and factory automation market. The rise in deployment of control systems across major industries, such as oil & gas, electric power, agriculture, water & wastewater, transportation, manufacturing, and chemical factories can impel the expansion of the market. The easy availability of different types of control systems, such as SCADA, intelligent electronic devices (IEDs), distributed control systems (DCS), remote terminal units (RTU), programmable logic controllers (PLC), and other field devices can support the expansion of the industry control and factory automation market.
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The segment study of the Industrial controls and factory automation market is based on solution, industry, and component. The end-use based, the Industrial controls and factory automation market segments are process industry that include Paper & Pulp, chemicals, Oil & Gas, Food & Beverage, Pharmaceuticals, Power, Mining & Metals, and Others; and discrete industry that include Semiconductor & Electronics, Automotive, Aerospace & Defense, Medical Devices, Machine Manufacturing, and others.
The mining and metals industry can bring considerable business for the global industry controls and factory automation market, as increase in mineral extraction activities and fabrication of metals are observed. The metal industry deploys Industrial controls and factory automation for forging, grinding, and spinning. Thus, the industry control and factory automation market expansion can be concluded to be driven due to the adoption of automation solution to execute rigorous activities in the growing metals & mining industry. The rise in productivity, minimizes wear, improvement in quality of operations, and enhances reliability can boost the expansion of the world market.
In North America, APAC, and Europe, the impact of coronavirus pandemic is studied on the industry controls and factory automation market. The increase in utility of these solutions can register substantial expansion of the market across the assessment period in the Asia Pacific region. Rise in industrialization and quick urbanization are other major factors that are observed to boost the expansion of the regional market in the years to come. Accordingly, the rise in concerns regarding energy conservation, plus the increase in the need to provide uninterrupted electricity supply to people across Europe and North America can boost the expansion of the industry controls and factory automation in the years to come. In North America, the industry control and factory automation can surge owing to the presence of a high count of factory automation system providers in the region.
MRFR register important companies operating in the world Industry Controls and Factory Automation Market. They are; Schneider Electric, ABB, Siemens, Emerson, Rockwell Automation, General Electric, Mitsubishi Electric Corporation, 3D Systems, Yokogawa, Honeywell, Omron, Fanuc, Dwyer, Stratasys, Wika, Endress+Hauser, and HP. The report elaborated on factors associated with the market rise and the short and long term influence of the corona issues on the market.
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