The global industrial control & factory automation market size is expected to grow from USD 147.9 billion in 2022 to USD 218.8 billion by 2027, at a CAGR of 8.2%. Growing necessity for predictive maintenance applications, rising demand for integration of AI and IoT in industrial environments, and growing number of initiatives by governments worldwide to promote growth of industrial automation are the key factors driving the industrial control & factory automation market.
The key players operating in the industrial control & factory automation market include the major players which operates in different stages in the entire value chain of industrial control & factory automation; these players are Honeywell (US), ABB (Switzerland), Siemens (Germany), Rockwell Automation (US), and Schneider Electric (France). For staying competitive in the market and to increase their footprint in the global market, these players have adopted various types of strategies including increasing investments in R&D (research & development) and new product launches, increasing number of acquisitions, mergers, partnerships, and strategic alliances, and planned geographic expansions etc.
To know about the assumptions considered for the study download the pdf brochure
ABB is focusing on partnerships, acquisitions, and product launches for growth. In April 2022, ABB signed a partnership agreement with Samsung Electronics to innovate holistic energy management solutions to drive the growth of smart building technology. The development is aimed at enabling ABB to expand customer access to home automation technologies and device management solutions. In the robotics domain, the company entered a partnership with ETH Zurich for the latter’s robotics research RobotX initiative. The partnership will not only help position ETH as a leading robotics research institution but will also boost ABB’s research & development efforts to innovate industrial robots and stay ahead in the market. In 2021, the company introduced new applications as part of the ABB Ability Genix Industrial Analytics and AI Suite aimed at providing comprehensive analysis, consolidation, and utilization of data from industrial plants, offering an opportunity to end users to improve productivity without compromising environmental compliances and at reduced cost. ABB also launched HoverGuard in 2021, which is claimed to be the world’s fastest and most sensitive drone-based gas leak detection measurement system utilizing smart sensor technology. In 2021, the company acquired ASTI Mobile Robotics Group, which has the largest installed fleet of autonomous mobile robots (AMRs) in Europe, and an established customer base in over 20 countries. ABB introduced new OmniCore robot controllers, which offer faster and more energy efficient manufacturing. It also introduced the IRB 920T SCARA robot that enables electronic industry customers to increase production speed.
Siemens spends a significant portion of its revenue on research and development activities. For instance, it spent 7.8%, 8.3%, and 8.0% of its overall revenue on research and development activities in 2021, 2020, and 2019, respectively. In 2022, the company acquired Senseye, a leading global provider of AI-powered solutions for industrial machine performance and reliability. This acquisition will enable Siemens to expand its predictive maintenance and asset intelligence portfolio. The acquisition of Atlas 3D, Inc. is aimed at broadening the company’s additive manufacturing/industrial 3D printing offerings in the industrial control & factory automation market.
Schneider Electric implements multiple strategies including partnerships and geographical expansions to maintain its financial performance. In 2021, Schneider Electric entered a partnership with Prisma Photonics, a provider of next-generation fiber sensing for smart infrastructure. The company is continuously expanding to global markets. Currently, it has operations in more than 100 countries across North America, Western Europe, Asia Pacific, and Rest of the World. The company’s wide presence enables it to introduce customer-centric products and solutions in each country based on local needs and sentiments. Its expanding global footprint ensures that the company is not overdependent on any market for revenue generation, reducing the risk of operating in a highly volatile industry.
Key growth strategies implemented by Rockwell Automation include partnerships and acquisitions. In July 2021, Rockwell Automation entered a partnership with Kezzler A.S. to provide cloud-based supply chain solutions for industries like life sciences and food & beverage. In June 2021, Rockwell Automation acquired Plex Systems, a smart manufacturing solutions provider, to expand its cloud-based software offerings. The company believes in expanding its global footprint to reduce dependence on the North American market and to cater to customers around the world. For instance, in June 2022, Rockwell Automation inaugurated a new Software Development Center (SDC) in Hinjewadi, Pune, India. The Center is expected to enhance Rockwell Automation’s research and development capacity and develop smart manufacturing software for both local and global end-users.
The company favors innovations, partnerships, strategic alliances, and acquisitions to stay competitive in the market. For instance, in October 2021, Honeywell signed a partnership agreement with IGEL to deploy solutions for Experion Process Knowledge System (PKS) users through the IGEL Ready Program. The advanced virtualization and process automation endeavor will provide PKS users access to an ecosystem of advanced hardware and software, thereby enabling a secure and powerful end-user experience. This will help Honeywell to strengthen its relationship with IGEL and expand its customer base. Honeywell announced the acquisition of Performix Inc., a provider of manufacturing execution system (MES) software for the biotech and pharmaceutical industries. This will assist Honeywell’s efforts to create the world’s leading integrated software platform. In a bid to be a premier software-industrial company, Honeywell is expanding tits Honeywell Forge connected solutions portfolio for aerospace, buildings, cybersecurity, plants, and workers. Through this expansion, the company intends to drive a recurring revenue model by leveraging its enterprise performance management solution suite, which can be used to analyze operational data and offer insights for improving processes and enhancing productivity
Industrial Control & Factory Automation Market by Component, Solution (SCADA, PLC, DCS, MES, Industrial Safety, PAM), Industry (Process Industry and Discrete Industry) and Region (North America, Europe, APAC, RoW) – Global Forecast to 2027
See Also :
Remote Monitoring and Control Companies
Mr. Aashish Mehra
630 Dundee Road
Northbrook, IL 60062
USA : 1-888-600-6441
This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.SEND ME A FREE SAMPLE