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Factory Automation Market Size, Share, Industry, Forecast and outlook (2024-2031)

Published: May 2024 || SKU: ICT3599
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Factory Automation Market is segmented By Component (Industrial Robots, Vision Machines, Control Valves, Field Instruments, Human–Machine Interface (HMI), Industrial PC, Sensors, Other), By Solutions (Supervisory Control and Data Acquisition (SCADA), Programmable Logic Controllers (PLC), Distributed Control Systems (DCS), Manufacturing Execution Systems (MES), Product Lifecycle Management (PLM), Functional Safety, Plant Asset Management (PAM), Others), By End-User (Oil & Gas, Chemicals, Paper & Pulp, Pharmaceuticals, Mining & Metals, Food & Beverages, Energy & Power, Automotive, Electronics & Semiconductors, Aerospace and Defense, Medical Devices, Others), By Region (North America, Europe, South America, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2024-2031

 

Factory Automation Market Overview

Factory Automation Market is estimated to reach a CAGR of 8.1% during the forecast period 2024-2031.

Factory automation is the inclusion of automation from end-to-end production processes. In manufacturing environments, automation leverages technologies, such as hydraulic systems, pneumatic systems and robotic arms, to offer more consistency, reduce wastage, increase productivity, better quality and safer working conditions. 

The increasing adoption of components, smart systems, machinery and equipment for improving manufacturing processes through automation has boosted the demand for smart factories for supply chain logistics, planning and product development. Factory automation has been adopted in various end-user industries, including automotive, chemicals, pharmaceuticals, food and beverages, mining & minerals, oil and gas, energy & power, paper & pulp and others.

 

Factory Automation Market Summary

Metrics

Details

Market CAGR

 8.1%

Segments Covered

By Component, By Solutions, By End User, and By Region

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, and Other key insights.

Fastest Growing Region

North America

Largest Market Share 

Asia Pacific

 

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Factory Automation Market Dynamics

The growing use of automation in industries is a major driver for the global factory automation market:

Modern-day manufacturing practices demand greater efficiency, speed and cost controls to maximize profits and revenues. Automation greatly increases production speed, especially in conveyor belt-type systems, while delivering efficiency and reducing downtime. The production lines can be run 24/7 with minimal human intervention. The significant benefits offered by automation have led to its widespread adoption by industries across various sectors, such as automotive, food processing, beverages and pharmaceuticals. The growing use of automation in various industries will be a major driver for the global market during the forecast period.

High capital investment associated with automation is expected to restrain the global factory automation market:

Over the forecast period, the high capital investment associated with automation is expected to prevent the growth of the global factory automation market. Factory automation is a capital-intensive process that involves high expenditure. The robotic machinery is high-tech and, therefore, very expensive. The cost of complex machinery runs into several hundred thousand or millions of dollars. Therefore, automating a factory incurs very high costs. The high costs involved mean factory automation is limited to multinational companies and large enterprises and deprives smaller companies of the advantages of automation.

The adoption of unified design architecture to generate new opportunities for the global factory automation market:

The automated machinery currently in use is designed and manufactured by various companies that use their proprietary design architecture. It prevents interoperability and hinders the growth of automation. The adoption of a single unified design architecture can enhance interoperability and provide a boost to the wider adoption of automation. Therefore, the adoption of unified design architecture is expected to create new opportunities for the global factory automation market during the forecast period.

The lack of a skilled workforce is expected to present challenges for the global factory automation market:

Automated machinery demands the usage of a highly skilled workforce that is well-versed in operation and maintenance of the machinery. Technical diploma-level education is required to grasp the fundamentals of automation. The lack of a skilled workforce hurts the factories since being understaffed; they cannot scale up production to meet the ever-growing demand for their goods. It ultimately prevents the wider adoption of automation in industry. The lack of a skilled workforce is expected to be a major challenge for the growth of the global factory automation market. 

COVID-19 Impact on Factory Automation Market

The COVID-19 pandemic caused a decline in the global factory automation market. The pandemic lockdowns disrupted various end-user industries. Many industries had to scale back, suspend or postpone capital investments due to the effects of the pandemic. Despite the short-term challenges, the pandemic is expected to positively impact the long-term outlook of the global factory automation market. The pandemic will lead to greater adoption of smart technologies such as virtual reality and artificial intelligence and their integration into factory robotics as companies are looking to boost factory efficiency with minimal human resources. 

Recent Developments in the Industry:

  1. In October 2021, Techman Robot Inc., a Taiwanese collaborative robot company, received an investment from OMRON Corporation. With its investment in Techman, the firm hopes to collaborate on novel robot solutions that integrate its industrial automation technology with Techman's collaborative robots. 
  2. In January 2022, KUKA, a German manufacturer of industrial robots, signed an agreement with Ford Otosan, the Turkish subsidiary of Ford, to supply 700 robots for Ford's new EV production facility in Kocaeli, Turkey. 

Factory Automation Market Segmentation Analysis

The scope of the report covers segmentation based on type, component, solutions, end-user and region. The global factory automation market is segmented by type into fixed automation, programmable automation, flexible automation, integrated automation and others. The global factory automation market is segmented by component into vision machines, industrial robots, control valves, field instruments, human-machine interface, industrial PC, sensors and others. The global factory automation market is segmented by solutions into supervisory control and data acquisition (SCADA), programmable logic controllers (PLC), distributed control systems (DCS), manufacturing execution systems (MES), product lifecycle management (PLM), functional safety, product lifecycle management (PLM) and others. The global factory automation market is segmented by end-user into oil & gas, chemicals, pulp & paper, pharmaceuticals, mining & metals, food & beverages, energy & power and automotive. The global factory automation market is segmented by region into North America, South America, Europe, Asia-Pacific, Middle East and Africa.

  1. Fixed Automation: Fixed automation, sometimes known as "hard automation," refers to an automated manufacturing facility where the equipment setup determines the order of processing processes. In effect, the machine's programmed commands are stored in cams, gears, wires and other hardware that is difficult to modify from one product style to the next. 
  2. Programmable Automation: Programmable automation is a type of automation used to produce things in batches. The goods are manufactured in batches ranging from a few dozen to several thousand units. The production equipment must be reprogrammed and switched over for each new batch to accommodate the new product style.
  3. Flexible Automation: Flexible automation is a manufacturing method that adapts and responds quickly to changes in production requirements, such as product kind and quantity. Flexible automation systems can produce many parts with minimal downtime during changeovers.
  4. Integrated Automation: It is a complete manufacturing system integrated into a computer-controlled, digitally processed and coordinated system with integrated automation systems. A common production system database controls robotic bin-picking automation with conveyors-integrated automation systems. Its central automation control point integrates industrial and non-industrial processes and robot integration through automated production technologies.
  5. Others: Numerically controlled machines, computer-aided manufacturing, industrial robots, automated production lines and automated assembly are other factory automation systems.

Factory Automation Market Geographical Share

According to the DataM Intelligence market research report, the global factory automation market is divided into North America, South America, Europe, Asia-Pacific, Middle East and Africa. 

North America is known for the early adoption of the latest technology and growing investments to save energy by adopting new technologies have led to the growth of factory automation in the region. The presence of key high-technology industries and a culture of innovation are expected to favor the growth of the North American factory automation market. Manufacturing units in Europe are compelled to implement newer technical advances and digital transformation solutions to make their business processes as effective as possible due to a rapid increase in competition and increasing end-user requirements. The increased use of robots and automation in the European automobile industry is predicted to bolster the European factory automation market. In addition, strict manufacturing and control regulations have made food and beverage manufacturers hesitant to adopt new technologies in Europe. Asia-Pacific holds the largest global factory automation market share, with China becoming the largest consumer. China is gradually building itself as one of the major automation markets in production and consumption.

Factory Automation Companies & Competitive Analysis

The global factory automation market is slightly fragmented, with major players accounting for a significant market share. Technology launches, new projects, awards, acquisitions and R&D activities are key strategies adopted by players in the factory automation market. The companies compete based on price, product specifications, technologies and market presence.

Some key companies contributing to the global factory automation market growth include ABB, Siemens, Schneider Electric, Mitsubishi Electric, General Electric, Honeywell, Rockwell Automation, Yokogawa Electric Corporation, HP and Omron Corporation, among others.

Additional Benefits Post Purchase:

1) Unlimited Analyst support for a period of 1 year. 

2) Any query regarding the scope offered will be addressed within 24- 48 hours.

3) An excel sheet with market numbers will be provided separately.

The Full Report has the below insights.

  • The report offers a comprehensive evaluation of the market in terms of Market Value (US$) and Y-o-Y Growth Rates (%). It does so via in-depth qualitative insights, historical data (2020-2021) and verifiable projections about market size during the forecast period (2022-2029).
  • Visualize the composition of the global factory automation market segmentation by drone type, application and region, highlighting the key commercial assets and players. 
    • By Type: Fixed Automation, Programmable Automation, Flexible Automation, Integrated Automation and Others
    • By Component: Vision Machines, Industrial Robots, Control Valves, Field Instruments, Human-Machine Interface, Industrial Pc, Sensors and Others
    • By Solutions: Supervisory Control and Data Acquisition (SCADA), Programmable Logic Controllers (PLC), Distributed Control Systems (DCS), Manufacturing Execution Systems (MES), Product Lifecycle Management (PLM), Functional Safety, Product Lifecycle Management (PLM) and Others
    • By End-User: Oil & Gas, Chemicals, Pulp & Paper, Pharmaceuticals, Mining & Metals, Food & Beverages, Energy & Power and Automotive
    • By Region: North America, South America, Europe, Asia-Pacific, Middle East and Africa
  • Identify commercial opportunities in the global factory automation market by analyzing trends and co-development deals.
  • The report also covers data insights on various industry forces such as porter's five forces, regulations in each country, reimbursement scenario, technological advancements, PEST analysis and pricing analysis.
  • Excel data sheet with thousands of global factory automation market-level 4/5 segmentation data points.
  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study. 
  • Product mapping in excel for the key product of all major market players

The report will provide access to approximately 50+ market data tables, 40+ figures and close to 296 pages.

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FAQ’s

  • The Factory Automation Market is growing at a CAGR of 8.1%.

  • Major players are ABB, Siemens, Schneider Electric, Mitsubishi Electric, General Electric, Honeywell, Rockwell Automation, Yokogawa Electric Corporation, HP and Omron Corporation, among others.

  • North America is the fastest-growing region in the Factory Automation Market.

  • Asia Pacific is the Largest Market Share in Factory Automation Market.
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