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Market Leadership - Industrial Control and Factory Automation Market
The industrial control and factory automation market is expected to reach USD 153.30 Billion by 2022, at a CAGR of 4.88% between 2016 and 2022. The market is highly competitive, due to the presence of a large number of established players. The market players are competing with each other majorly through the development of new technologies for better control, automation, and operation. There has been a significant change in production practices in recent years. Manufacturers are adopting advanced technologies in industrial control and factory automation to efficiently plan the entire lifecycle of a product or project. The major factors expected to drive the growth of the industrial control and factory automation market are advancements in industrial internet and machine to machine (M2M) communication technologies, increased focus on improved efficiency and low cost of production, government support for the adoption of new technologies in the manufacturing sector, and more connected supply chain.
Siemens AG (Germany), is one of the leading manufacturers of industrial control systems and automation components. This leading position can be attributed to the significant investments made by the company in research and development activities in recent years. The company was also a leading manufacturer of Programmable Logic Controller (PLC) in 2015. In 2016, Siemens established a Cyber Security Operation Center (CSOC) for the protection of industrial facilities from cyber threats. Through this center, the company offers cyber security services across various industries. In addition, it launched Mindsphere open industry cloud designed for preventive maintenance, energy data management, and resource optimization.
ABB Ltd. (Switzerland) provides its services through five business divisions, namely, power products, power systems, low-voltage products, discrete automation and motion, and process automation. In order to increase its market share in the industrial control and factory automation market, the company provides advanced factory automation solutions. The company was also a leading manufacturer of Distributed Control System (DCS) in 2015. In 2016, ABB acquired SVIA automation solutions (Sweden), a provider of automated solutions for machine tending processes, such as like assembly, washing and part marking as well robots and feed components. This acquisition helped ABB to offer unique value propositions to its customers across the globe.
Industrial Control and Factory Automation Market by Technology (SCADA, PAC & RTU, DCS, Safety, MES & MOM, PLM), Component (Industrial Robots, Machine Vision, Control Valves, Enclosures, Cables), Industry (Process, and Discrete) - Global Forecast to 2022
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