PUNE, India --- The report "Industrial Control and Factory Automation Market by Technology (SCADA, PAC & RTU, DCS, Safety, MES & MOM, PLM), Component (Industrial Robots, Machine Vision, Control Valves, Enclosures, Cables), Industry (Process, and Discrete) - Global Forecast to 2022" published by MarketsandMarkets, the market is expected from USD 108.80 Billion in 2015 to reach USD 153.30 Billion by 2022, at a CAGR of 4.88% between 2016 and 2022.
The industrial control and factory automation market is driven by the growing demand for automation products in the manufacturing process across various industry verticals mainly due to the increasing focus on production and operational efficiency, as well as optimal usage of resources. The market is also driven by the increasing adoption of industrial internet technologies and advancements in M2M communication, as these enable manufacturers to better analyse the real time data and act accordingly for predictive maintenance.
"DCS segment accounted for the largest share of the market, by technology"
DCS (distributed control systems) is the largest technology segment of the market primarily due to increased demand from the growing electric power generation and oil & gas industries. Growth in these industries is attributed to the surge in manufacturing activities across Asia-Pacific and the Middle East countries.
"MES & MOM technology segment is estimated to be the fastest growing"
The MES (manufacturing execution system) & MOM (manufacturing operations management) technology segment is expected to grow at the highest CAGR between 2016 and 2022. This expected growth is attributed to the increased focus on cost savings, improvement in operation, and better utilization of production assets across the supply chain.
"APAC is expected to be the fastest growing market for industrial control and factory automation during the forecast period"
APAC region is estimated to be the fastest growing market for industrial control and factory automation during the forecast period. The market in this region is expected to register high growth because of the growing industrial sectors in China and India. Factory automation is increasing in China due to increasing adoption of the technology in the country's large number of automotive manufacturing plants.
This report also profiles the most promising players in the industrial control and factory automation market. The competitive landscape of the market presents a very interesting picture where a large number of big and small players have become a force to be reckoned with. Major players operating in this market include Siemens AG (Germany), Emerson Electric Company (U.S.), General Electric Company (U.S.), Schneider Electric SE (France), ABB Ltd. (Switzerland), Honeywell International, Inc. (U.S.), Mitsubishi Electric Corporation (Japan), Yokogawa Electric (Japan), and Rockwell Automation, Inc. (U.S.).
Browse 65 market data Tables and 107 Figures spread through 240 Pages and in-depth TOC on "Industrial Control and Factory Automation Market" at http://www.marketsandmarkets.com/Market-Reports/factory-industrial-automation-sme-smb-market-541.html
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