Industrial Control & Factory Automation Market

Market Leadership - Industrial Control & Factory Automation Market

The global industrial control & factory automation market size is expected to reach USD 197.8 billion by 2026 from USD 133.1 billion in 2021, growing at a CAGR of 8.2%. The key factors driving the growth of the market include emergence of connected enterprises and requirement of mass manufacturing of products, government initiatives to promote industrial automation, adoption of emerging technologies such as IoT and AI in industrial environments, emphasis on industrial automation and optimum utilization of resources, and fiscal policies formulated by regional financial institutions to keep manufacturing facilities floating amidst COVID-19 crisis. ABB Ltd. (Switzerland), Endress+Hauser AG (Switzerland), Emerson Electric Co. (US), General Electric (US), Rockwell Automation, Inc. (US), Schneider Electric SE (France), Siemens AG (Germany), Mitsubishi Electric Corp. (Japan), Honeywell International Inc. (US), and Yokogawa Electric Corp. (Japan).  are among a few major players in the industrial control & factory automation market.

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Siemens

Siemens is one of the leading companies leveraging industrial automation capabilities with the help of various products and software suites for the digitalization of both process and discrete industries. The industrial control & factory automation solutions offered by the company cater to the requirements of customers across different industries. The company is a forerunner in the field of electrification, automation, and digitization. It offers a wide range of products related to industrial automation technologies.

Mitsubishi Electric

Mitsubishi Electric manufactures a wide range of control and power electronics products based on automated technologies. It operates through the following segments, namely, Industrial Automation Systems, Energy and Electric Systems, Home Appliances, Information and Communication Systems, Electronic Devices, and Other. The Industrial Automation Systems segment offers various products and solutions. The company provides programmable logic controllers, servomotors, motors, human-machine interface (HMI), PLC, SCADA, magnetic switches, computerized numerical controllers, and industrial robots for industrial automation. Industrial robots coupled with 3D vision, force sensing, and seamless PLC integration are used for material-handling purposes in production plants. The robotic systems offered by Mitsubishi are key components used in factory automation. These systems are integrated with intelligent sensors to provide high-precision performance. MC AppBuilder software offered by the company integrates SCADA to carry out monitoring function in factory automation.

ABB

ABB has a vast product portfolio for the industrial control & factory automation market, encompassing SCADA, industrial sensors, industrial robots, 3D printing solutions, machine vision solutions, industrial safety solutions, and plant asset management solutions. Industrial robots are one of the key offerings from the Robotics & Discrete Automation business segment. It had a revenue of USD 2.9 billion in 2020. In February 2021, ABB launched a cobots portfolio in GoFa and SWIFTI cobot families. The company is trying to stay ahead in the industrial robots offering by expanding its cobots portfolio for higher payloads and faster operations. ABB offers industrial control & factory automation solutions such as smart sensors, SCADA, and PAM for varied industries, such as oil & gas and chemicals. With a strong presence geographically, the company has an edge in the industrial control & factory automation market with comprehensive products and solutions offerings.

Emerson

Emerson is one of the prominent companies in the industrial control & factory automation market. The Automation Solutions segment, which offers pressure measurement solutions and other analytical instruments, is the largest contributor to its overall revenue generation. This trend has existed for the last few years, and considering the efforts the company is putting in the expansion of this segment, it is likely to remain the same in the near future.

Schneider Electric

Schneider Electric has a strong position in the industrial automation market, especially in the energy segment. The strong position of the company offers it a competitive advantage and edge over its competitors. In May 2018, Schneider Electric acquired the Electrical and Automation business of Larsen & Toubro to expand its automation footprint in India. The company focuses on strategic business expansions in emerging economies, especially in Asia, to increase its customer base. Moreover, collaboration with ENGIE in 2017 helped Schneider Electric to leverage the expertise of ENGIE in remote monitoring and diagnostics solutions used in field instruments that use industrial sensors.

Related Reports:

Industrial Control & Factory Automation Market by Solution (SCADA, PLC, DCS, MES, Industrial Safety, PAM), Component (Industrial Robots, Industrial 3D Printing, Process Analyzer, Machine Vision, HMI), Industry, Region - Global Forecast to 2026

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Report Code
SE 2505
RI Published ON
7/16/2021
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