Global Factory Automation (FA) Market Growth (Status and Outlook) 2024-2030
The Factory Automation (FA) market was valued at USD 160.1 Billion in 2023, with a growing trend due to the increasing demand for automation and digitalization in manufacturing and
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Introduction
Factory Automation (FA) use set technologies and automatic control devices that results the automatic operation and control of industrial processes without significant human intervention and achieving superior performance than manual control. These automation devices include PLCs, PCs, PACs, etc. and technologies include various industrial communication systems. It facilitates to increase the product quality, reliability and production rate while reducing production and design cost by adopting new, innovative and integrated technologies and services.
Market Insights
According to the Publishers’ latest study, the global Factory Automation (FA) market size was valued at US$ 160100 million in 2023. With growing demand in downstream market, the Factory Automation (FA) is forecast to a readjusted size of US$ 263650 million by 2030 with a CAGR of 7.4% during review period.
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The world's key manufacturers providing factory automation (FA) are Siemens, Mitsubishi Electric, ABB, Emerson, Rockwell Automation, Schneider Electric, Keyence, Bosch Rexroth, etc. The top six manufacturers together occupy more than The top six manufacturers together account for more than 40% of the market share, with the largest manufacturer being Siemens, with a market share of 13.12%. The global factory automation providing regions mainly distributed in the United States, Europe, China, Japan, etc., of which Europe has the largest market share of 34.97%. In terms of its product categories, control systems have the highest market share of 56.80%, followed by measurement and analysis products with 32.57%. In terms of its applications, general manufacturing is its top application area with 34.38% of the market share, followed by automotive industry with 25.57%.
Key Features:
The report on Factory Automation (FA) market reflects various aspects and provide valuable insights into the industry.
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Trends:
Adoption of Robotics and Automation: There is a significant trend towards increased adoption of robotic systems and automation technologies in manufacturing facilities to improve productivity, efficiency, and precision.
Shift Towards Smart Factory Concepts: The integration of advanced digital technologies, such as the Industrial Internet of Things (IIoT), artificial intelligence, and data analytics, is enabling the transformation of traditional factories into "smart factories" with enhanced connectivity, flexibility, and optimization.
Convergence of Information Technology (IT) and Operational Technology (OT): The blending of IT and OT systems is a key trend, as organizations seek to achieve seamless integration of information, control, and automation systems for improved decision-making and operational efficiency.
Focus on Flexible and Reconfigurable Manufacturing: Manufacturers are increasingly seeking factory automation solutions that allow for rapid adaptation to changing market demands, product mixes, and production volumes.
Emphasis on Predictive Maintenance and Asset Management: There is a growing focus on leveraging data-driven predictive maintenance and asset management strategies to minimize downtime, optimize equipment performance, and reduce maintenance costs.
Drivers:
Increasing Labor Costs and Shortage of Skilled Workers: Rising labor costs, particularly in developed economies, and the shortage of skilled manufacturing personnel are driving the need for automation and robotics to enhance productivity and reduce reliance on manual labor.
Demand for Improved Quality and Consistency: Manufacturers are seeking factory automation solutions to enhance product quality, reduce defects, and ensure consistent output, thereby meeting stringent customer requirements and regulations.
Need for Improved Production Efficiency and Flexibility: Competitive pressures and the demand for faster product development cycles are compelling manufacturers to adopt flexible and adaptive automation solutions to increase throughput, reduce lead times, and respond to changing market dynamics.
Technological Advancements and Declining Automation Costs: Rapid technological developments in areas such as robotics, sensors, control systems, and software are making factory automation solutions more accessible and cost-effective for manufacturers.
Sustainability and Environmental Regulations: The growing emphasis on environmental sustainability and the need to comply with increasingly stringent regulations are driving the adoption of energy-efficient and environmentally-friendly automation technologies.
Opportunities
Emerging Markets: Rapidly developing economies, particularly in Asia-Pacific, the Middle East, and Africa, present significant growth opportunities for factory automation providers as these regions undergo rapid industrialization and infrastructure development.
Retrofit and Modernization of Existing Facilities: The need for upgrading and modernizing aging manufacturing facilities with new automation technologies represents a substantial opportunity for FA solution providers.
Expanding Applications in Non-Traditional Sectors: The adoption of factory automation is expanding beyond traditional manufacturing industries, such as automotive and electronics, into sectors like food and beverage, pharmaceuticals, and logistics, creating new market avenues.
Advancements in Collaborative Robotics: The advancements in collaborative robot (cobot) technologies, which enable safe human-robot interaction, open up new applications and opportunities for automation in various industries.
Integration of Artificial Intelligence and Machine Learning: The integration of AI and ML capabilities into factory automation solutions can enhance decision-making, optimize processes, and drive greater efficiencies, presenting significant growth potential.
Threats:
Cybersecurity Risks: The increased connectivity and integration of factory automation systems with enterprise IT infrastructure heighten the exposure to potential cybersecurity threats, which can disrupt operations and compromise sensitive data.
Workforce Displacement and Skill Gaps: The rapid adoption of automation and robotics in manufacturing may lead to workforce displacement, creating a need for reskilling and upskilling of employees to adapt to the changing technological landscape.
Economic Volatility and Investment Uncertainties: Fluctuations in global economic conditions and uncertainties surrounding investment decisions can affect the pace of factory automation adoption, particularly among small and medium-sized enterprises.
Resistance to Change and Lack of Automation Readiness: Some manufacturers may be reluctant to embrace factory automation due to concerns about the complexity of implementation, the need for significant capital investment, and the perceived disruption to existing workflows and processes.
Market Size and Growth: The research report provide an overview of the current size and growth of the Factory Automation (FA) market. It may include historical data, market segmentation by Type (e.g., Control Systems, Measurement & Analytical Products), and regional breakdowns.
Competitive Landscape: The research report provides analysis of the competitive landscape within the Factory Automation (FA) market. It includes profiles of key players, their market share, strategies, and product offerings. The report can also highlight emerging players and their potential impact on the market.
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Downstream Procumbent Preference: The report can shed light on customer procumbent behaviour and adoption trends in the Factory Automation (FA) market. It includes factors influencing customer ' purchasing decisions, preferences for Factory Automation (FA) product.
Government Policies and Incentives: The research report analyse the impact of government policies and incentives on the Factory Automation (FA) market. This may include an assessment of regulatory frameworks, subsidies, tax incentives, and other measures aimed at promoting Factory Automation (FA) market. The report also evaluates the effectiveness of these policies in driving market growth.
Market Forecasts and Future Outlook: The global factory automation market exhibits strong growth prospects, driven by the ongoing digital transformation of manufacturing, the need for enhanced productivity and efficiency, and the increasing demand for intelligent and adaptable automation solutions across various industries.
Market Segmentation:
Factory Automation (FA) market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of value.
Segmentation by type
Control Systems
Measurement & Analytical Products
Switches & Safety Components
Industrial Robot
Others
Segmentation by application
General Manufacturing
Automotive
Power Industry
Oil & Gas
Others
This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries
The below companies that are profiled have been selected based on inputs gathered from primary experts and analyzing the company's coverage, product portfolio, its market penetration.
Siemens
Mitsubishi Electric
ABB
Emerson
Rockwell Automation
Schneider Electric
Keyence
Bosch Rexroth
Honeywell
Fanuc
Omron
Yokogawa Electric
Fuji Electric
KuKa
Inovance Group
General Electric
Table of Contents
1 Scope of the Report
1.1 Market Introduction
1.2 Years Considered
1.3 Research Objectives
1.4 Market Research Methodology
1.5 Research Process and Data Source
1.6 Economic Indicators
1.7 Currency Considered
1.8 Market Estimation Caveats
2 Executive Summary
2.1 World Market Overview
2.1.1 Global Factory Automation (FA) Market Size 2019-2030
2.1.2 Factory Automation (FA) Market Size CAGR by Region 2019 VS 2023 VS 2030
2.2 Factory Automation (FA) Segment by Type
2.2.1 Control Systems
2.2.2 Measurement & Analytical Products
2.2.3 Switches & Safety Components
2.2.4 Industrial Robot
2.2.5 Others
2.3 Factory Automation (FA) Market Size by Type
2.3.1 Factory Automation (FA) Market Size CAGR by Type (2019 VS 2023 VS 2030)
2.3.2 Global Factory Automation (FA) Market Size Market Share by Type (2019-2024)
2.4 Factory Automation (FA) Segment by Application
2.4.1 General Manufacturing
2.4.2 Automotive
2.4.3 Power Industry
2.4.4 Oil & Gas
2.4.5 Others
2.5 Factory Automation (FA) Market Size by Application
2.5.1 Factory Automation (FA) Market Size CAGR by Application (2019 VS 2023 VS 2030)
2.5.2 Global Factory Automation (FA) Market Size Market Share by Application (2019-2024)
3 Factory Automation (FA) Market Size by Player
3.1 Factory Automation (FA) Market Size Market Share by Players
3.1.1 Global Factory Automation (FA) Revenue by Players (2019-2024)
3.1.2 Global Factory Automation (FA) Revenue Market Share by Players (2019-2024)
3.2 Global Factory Automation (FA) Key Players Head office and Products Offered
3.3 Market Concentration Rate Analysis
3.3.1 Competition Landscape Analysis
3.3.2 Concentration Ratio (CR3, CR5 and CR10) & (2022-2024)
3.4 New Products and Potential Entrants
3.5 Mergers & Acquisitions, Expansion
4 Factory Automation (FA) by Regions
4.1 Factory Automation (FA) Market Size by Regions (2019-2024)
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