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Schneider Electric SE,Rockwell Automation Inc.,Honeywell International Inc.,Emerson Electric Company,ABB Ltd,Mitsubishi Electric Corporation,Siemens AG,Omron Corporation,Yokogawa Electric Corporation,General Electric Co.,Texas Instruments Inc.,Robert Bosch GmbH and others.
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The Factory Automation And Industrial Control System Market report concludes with comprehensive details on the enterprise operations and financial arrangement of leading vendors in the Factory Automation And Industrial Control System Market report, Summary of important trends in the past and are in accounts that are reported to be good for companies searching for venture businesses in the market. Information about the marketing channels and vendors in the forex market was provided here. This study serves as a rich guide for players and new players on the marketplace.
Market Dynamics And Factors
Growing Emphasis On Energy Efficiency And Cost Reduction
The manufacturing sector is witnessing significant growth. In the United States, employment in the production sector reduced over the past 25 years. Rising material costs, price reduction pressures, and increasing labor costs are primary challenges faced by these industries. Moreover, in the United States, the changing unit labor wages show the irregularity in productivity. This augmented the pace of adoption of automation across the industrial sector, reducing the costs associated with production.
As per the Institute for Supply Management Manufacturing Business Survey Committee, in 2020, industrial materials' costs soared after a downfall in early 2020. From a global perspective, more jobs, more workers, more consumption, and more competition for the same goods and materials were observed. Rising prices have forced a downcycle and compromise growth
Remarkable Capital Investments And Reinvestment For The Maintenance.
Funding a high amount is tough for new entrants who are setting up their first plant. As result, these companies have to carry out an in-depth analysis of their return on investments before executing industrial control and factory automation systems and solutions. Furthermore, it is not feasible for several companies to remove their existing legacy systems due to the high costs of new and advanced systems and poor interoperability in legacy systems.
Trade Tensions And Implementation Challenges
With the rising cost of production in China and the strengthening of the Yuan against the Dollar, investors have been looking at alternate manufacturing destinations. However, for that, manufacturers need to focus on quality production and environment-friendly manufacturing regulations. A fully automated facility takes years to adjust and evolve with the growing technology. Meanwhile unfavorable or delayed initiatives on active automation adaption have limited the growth on a regional basis.
Growing Demand For Safety Compliances Automation Solutions
Industrial manufacturing includes various processes that can be harmful to humans. Lethal accidents can occur at the time of production due to human errors or mechanical failures. Thus, the manufacturing industry must adopt safety measures to avoid such incidents at the workplace. Safety acquiescence automation products support for the overcome the risk of accidents. For instance, safety automation instruments indicate operators while emergencies and take certain programmed actions to reduce their impact on human lives. They monitor malfunctions in various machines and processes and run diagnostics to come up with the solutions at the earliest. Hence, quick and proper responses are anticipated from these safety instrument systems (SIS). According to the Occupational Safety and Health Administration (OSHA), the rate of serious workplace injuries and illnesses has felled remarkedly from 3.3 per 100 workers between 2018 to 2019 due to the incorporation of safety components and industrial automation.
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Therefore, enabling them to overcome faults in the product, decreasing downtime, scheduling maintenance, and shifting from being in the reactive state to predictive and prescriptive stages for decision-making. The Industrial Internet of Things (IIoT) and the Industrial 4.0 are at the center of the latest advancement approaches for development, production, and management of the entire logistics chain, otherwise known as smart factory automation, and are dominating the trends in the industrial sector, with machinery and devices being connected via internet.
By Industrial Control Systems, Factory Automation And Industrial Control System Market report covers:
Distributed Control System (Dcs),Programmable Logic Controller (Plc),Supervisory Control And Data Acquisition (Scada),Product Lifecycle Management (Plm),Human Machine Interface (Hmi),Manufacturing Execution System (Mes),Enterprise Resource Planning (Erp),Other Industrial Control Systems
By Field Devices, Factory Automation And Industrial Control System Market report covers:
Machine Vision Systems,Robotics (Industrial),Sensors And Transmitters,Motors And Drives,Other Field Devices
By End-User Industry, Factory Automation And Industrial Control System Market report covers:
Automotive,Chemical And Petrochemical,Utility,Pharmaceutical,Food And Beverage,Oil And Gas,Other End-User Industries
· North America
· Asia Pacific
· Middle East & Africa
By Geography, Europe accounted for the largest market share of 26.67%, in 2020, Europe is expected to witness a steady increase in demand for factory automation solutions and industrial control systems owing to the adoption of Industry 4.0 in all the regions.
The Asia-Pacific is anticipated to observe the highest CAGR in the projected period. The demand in China for factory automation includes the demand for automating production lines and supply chain and has driven it towards the factory automation sphere and has been supported by favorable investments.
In North America, the United States continues to develop and integrate its position in the global market in the factory automation and industrial control systems industry.
Key Industry Developments:
In March 2021, ABB and ETH Zurich have extended their partnership in robotics research as part of ETH's RobotX initiative. The RobotX initiative, introduced in 2019, is deliberate to position ETH as a boss in robotics research institutions. The effort will be helped by ABB's Robotics and Discrete Automation business.
In March 2021, Stratasys merged with Xometry to supply various latest more-performance nylon material options to customers of Xometry's global custom producing marketplace. Xometry's customer base of startups to Fortune 100 companies now enables us to tap Stratasys Direct's deep expertise and substantial producing ability in SLS 3D printing.
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