Industrial Control and Factory Automation Market: Overview
The Industrial control and Factory automation is a rising trend in
the manufacturing industry which provides smart manufacturing
infrastructure. The industrial control and factory automation
facilitates cost efficiency, quality of production; standardize
manufacturing, reliability and flexibility in the process of
manufacturing. Industrial control and factory automation offers
perfect mix of mechanical components and devices and Information
Technology.
The emerging applications such as heating ventilation air
conditioning (HVAC) systems, electronic power distribution systems
and human machine interface (HMI) would further spur the demand of
industrial controls and automation in the coming years. Technological
developments in process monitoring, industrial automation and control
over the last decades have contributed immensly towards improvement
of productivity of all manufacturing industries globally.
Blend of smart mechanical technology with IT technology has given
spur to the industrial controls and factory automation market. These
systems are used in the industries create the standardized and
reliable production environment. Advantages offered by automation in
manufacturing activities includes cost-efficiency, reduced feedback,
fast production, waste reduction, production monitoring and
management over the conventional manual processes. Several mechanical
devices are integrated with IT systems for enhanced outcomes in
automation. Software systems such as Enterprise Resource planning
(ERP) are assisting the market to broaden its service offerings. It
is delivering improved quality, standardized and dependable products
within time frame and at moderate cost to the customers.
Industrial Control and Factory Automation Market: Drivers
The focus by industry players on achieving energy efficiency in
manufacturing process is driving the market. In addition, others
factors such as internet of things, country and government
initiatives towards improving production activities, services
blending manufacturing and engineering technologies and shifting
production base are driving the market. Other drivers are country
wise investment and development plan for production activities and
shifting in the manufacturing base. The market is expected to grow
substantially in developing economies such as Asia-Pacific, which is
primarily attributed to the rise in the factory automation and
industry control system implementation.
Importance of Industrial Control and Factory Automation Systems:
http://bit.ly/2bngOiU
Industrial Control and Factory Automation Market: Challenges
Factors such as lack of awareness, limited fund generation for
re-investment owing to compact working capital cycle, narrow
geographical diversity and absence of standardization are restraints
for the market. Major number of industrial units function on a
compact budget, in particular for small and medium enterprises (SME).
This creates limited opportunities for re-investment as profits
margins are low. This acts as one of the key restrains for market as
not every production facilities can afford to invest in the
automation and industrial control systems.
Another restrain for players in the market is less availability of
trained professionals who can help the implementation of automation
and control processes. Companies in the market are delivering
training programs and certifications to the interested individuals so
as to overcome this challenge. Although, emerging countries in the
area of production, reduction in prices, adoption of latest
technology and developing scope of used robots offer immense
opportunity for industrial control and factory automation market.
Industrial Control and Factory Automation Market: Segmentation
The market is segmented by application and product. Application
include power, automotive, printing and packaging, oil and gas,
pharmaceuticals, textile, chemical, plastics, food processing and
original equipment manufacturers (OEM). Products include industrial
control systems, machine vision, sensors, relay and switches, field
devices, manufacturing execution system (MES) and motion and drives.
Field devices are further segmented as industrial networks,
industrial robotics and control devices.
Key players in the market include Yokogawa Electric Corporation,
Ametek Inc., Honeywell International, Bosch Automation, Emerson,
Mitsubishi Corporation, Schneider Electric, National Instrument
Corporation, General Electric Co, Siemens Ag, Rockwell Automation,
Omron Corporation and ABB Ltd.
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