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The report describes the value chain in the industry by considering all the major stakeholders and their role in the analysis. America holds the maximum share of the Factory Automation market, with continual development (http://www.marketsandmarkets.com/Market-Reports/factory-industrial-automation-sme-smb-market-541.html).
(PRWEB) June 25, 2014
According to a recent market research report of "Industry Control and Factory Automation Market by Technology (ICS, MES, ERP, ITS), Field Devices (Industrial Network, RFID, Industrial Robotics and Control Devices), Application (Process, Discrete) - Global Forecast & Analysis to 2014 - 2020", the market is projected to reach $301.9 Billion by 2020, from $171.2 Billion in the year 2013, with a CAGR of 8.53%.
Browse 106 market data Tables and 58 Figures spread through 359 Pages and in-depth TOC on "Industry Control and Factory Automation Market".
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The Industrial control and Factory automation is an emerging trend in the manufacturing organizations, providing smart manufacturing setup. The Industrial Control and Factory Automation provide cost efficiency, quality and standard production, reliability and flexibility in the production process. The industrial control and factory automation includes the perfect blend of mechanical components, devices and Information Technology. The emerging applications like Heating Ventilation Air Conditioning (HVAC) systems, Human Machine Interface (HMI) and electronic power distribution systems will further surge the demand of industrial controls and automation systems in the coming future.
The overall Industrial control and Factory automation is segmented on the basis of: Technology, Field Devices, Applications and Geography markets. All the major segments are further segmented into sub segments, with separate classification. The Industrial Control and Factory Automation Market is expected to reach to $301.9 Billion by the year 2020, from $171.2 Billion in 2013, with a projected CAGR of 8.53%.
Geographical split for the Industrial Control and Factory Automation Market is included in the report. It presents the market size of the different geographies. Industrial Control and Factory Automation Market report divides the overall market based on the four major geographical segments- The Americas, Europe, APAC, and Rest of the world (ROW). The Americas region is the market leader in the Industrial Controls and Factory Automation market. The APAC region is projected to show the highest CAGR amongst other regions.
The market for industry control and factory automation is driven by the increasing focus on energy saving and efficiency improvement. The industrial control devices are making it possible for the organizations to smoothen their production activities also make them standardized, enabling cost cuttings and waste reductions. The Internet of things and services is to play crucial role in the industrial control and factory automation market, as they facilitate improvement in the industrys engineering, production, logistics and life cycle management as they integrate the factors of production.
The organizations are surviving in the cut-throat competitive environment, where they are striving for having competitive edge over others in production process, and this has pushed the market to the incessant advancement. The market for Industrial Control and factory Automation is finding a prospect in the emerging markets where there is a good scope for the implementation of factory automation systems and these emerging markets are China, India and Brazil. The market for refurbished robots is in upsurge, and also for the robotic systems-manufacturing and parts and servicing. Even the governments of some regions are supporting the use of refurbished robots, by not levying any duty charges.
The emphasis by market players on energy saving and efficiency improvement is driving the market, with other market driver factors like internet of things and services integrating manufacturing and engineering, country and government impetus to manufacturing activities and shifting manufacturing base.
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