Industrial and Factory Automation Market - Forecast(2020 - 2025)

 Increasing usage of machines, the demand for high quality products with high volume production in various industries, and increasing installation and adoption of smart devices are the factors driving the growth of the industrial and factory automation market during the forecast period 2019 to 2025. Smart devices can communicate with each other within the factory and also with the cloud. According to the fresh market research report from IndustryARC, this is the major factor which is opening up industrial and factory automation market which already has a market size of nearly $5 billion in 2018, and the demand for the same is projected to grow at a notable CAGR of 12% during the forecast period.

Industrial and factory automation refers to the automation of manufacturing, and material handling by using smarter manufacturing infrastructure. Industries are implementing automation to increase productivity and reduce labor costs. Embedded vision is a technology which optimizes the factory production floor in areas such as raw materials handling and assembly.  Factory automation uses the pneumatic technology, because it operates at much lower than hydraulic technology. With the adoption of automation, control loops were added to machine operation. These control loops are two types, open control loops that allow for human input and closed loops which are fully automated. The main advantage of these control loops are increase in production, and quality, and reduce in errors.

Europe dominates the Industrial and Factory Automation Market 
Europe will dominate the industrial and factory automation market during the forecast period. It is expected to grow at a CAGR of 30% to 35% by 2025. The reason behind this growth can be attributed to extensive use of enabling technologies such as artificial intelligence, big data, and cybersecurity in manufacturing, continuous innovation in industrial robotics, and need for mass production. The sales of robots have increased in the manufacturing industries. Globally, 74 robot units per 10,000 employees is the average robot density as of 2018. By region, Europe has average robot density of 99 units, and then followed by America and Asia by 84 and 63 units respectively. The rising demand for electronic products and the need to automate production driving the demand for factory automation in the region. 

Industrial and Factory Automation Market Outlook:

According to the analyst of IndustryARC, the application CAGR of industrial and factory automation market in oil and gas industry will be 2% to 2.5%. The reason behind the growth in this sector is increasing labor wages, and rising adoption of automation in various end user industries to increase productivity and efficiency. Robotics are also used in the oil and gas applications. One of the well-known robot used in this industry is the Iron Roughneck which is made by National Oilwell Varco Inc. This robot is used to automate the repetitive and quite dangerous task of connecting drill pipes. 

Industrial and Factory Automation Market

Cobots: Disruptive Trend in Industrial and Factory Automation Market 

  • The Cobots or Collaborative Robots are replacing the human jobs which are either too repetitive or dangerous; allowing the human workers to focus on other easy operations in the industries. 
  • International Data Corporation (IDC) estimates that by 2018, 30% of all new robotic deployments will be smart collaborative robots that operate three times faster than today’s robots and are safe for work around humans.
  • Cobots are especially suitable for small and medium-sized companies, which account for 70% of global manufacturing, as they give human workers new tools to complete tasks more quickly, efficiently, and with greater insight than ever before.

Industrial and Factory Automation Market: Competitive Landscape

The major players operating in the industrial and factory automation market are ABB Ltd., Emerson Electric Co., Siemens AG, Omron Corp, Mitsubishi Corp, Honeywell International Inc., General Electric Co, Rockwell Automation, Yokogawa Electric Corp, Schnieder Electric SE, and Fanuc Corp.

"We also publish more than 100 reports every month in "Automation and Instrumentation", Go through the Domain if there are any other areas for which you would like to get a market research study."
Location: United States

Comments

Post a Comment

Popular posts from this blog

Industrial & Institutional Cleaning Chemicals Market - Forecast(2021 - 2026)

  The Global Industrial & Institutional Cleaning Chemicals Market size is forecast to reach around $53 billion by 2025, after growing at a CAGR of 9% during 2020-2025. Industrial and institutional cleaning chemicals are those cleaners envisioned for routine cleaning of institutions, warehouses, offices, and industrial facilities. The rise in environment protection awareness, growing need to reduce waste, increasing safety and environmental regulations, growing public awareness of health and hygiene, and growing disposable hygiene industry in the developed and developing regions drives the growth of Industrial & Institutional Cleaning Chemicals market during the forecast period. Whereas, rise in health concerns about recent outbreaks of COVID-19 and increases the use of sanitation applications that also contribute to the growth of global Industrial & Institutional Cleaning Chemicals market size over the study period.  Request Sample Report Coverage The report: “ Glo...
Read more

Abrasion Resistant Optical Clear Coatings Market - Forecast(2021 - 2026)

Image
  Abrasion Resistant Optical Clear Co atings market  size is forecast to reach  $9.2 billion by 2026 , after growing at a  CAGR of 6.6% during 2021-2026 . Recent advancements in technology in the field of optical deposition techniques and fabrication coupled with the increasing demand for efficient optical devices in various end-use industries are expected to drive the market over the forecast period.  In addition, abrasion resistant optical clear coatings will not be scratched when being cleaned, unlike an  uncoated Polycarbonate  surface which scratches very easily, and when testes with  calo tester  abrasion resistant optical clear coatings seem to be a thin film coating, thus, gaining momentum. Abrasion-resistant optical clear coatings are increasingly used in a wide range of applications, including architecture, consumer electronics, solar panels, automotive, medical, telecommunications, and military and defense ...
Read more

Composites Piezoelectric Material Market - By Type, By Application, By End Use and By Geography Analysis - Forecast 2020 - 2025

  Composites Piezoelectric Material Market size is forecast to reach $267.40 million by 2025, after growing at a CAGR of 3.98% during 2020-2025.Composites Piezoelectric Material has various advantages such as high coupling factor, low acoustic impedance, strong water or human tissue matching, mechanical stability, wide bandwidth combined with a low mechanical quality factor and the possibility of producing undiced arrays by simply patterning the electrodes owing to which it is widely used in many end use industry. In addition, piezoelectric composite materials are especially useful for application of underwater sonar and medical diagnostics ultrasonic transducer. In a variety of fields such as   medical devices , naval sonar devices, industrial process control, environmental monitoring, communications, information systems and   tactile sensors ,   piezoelectric composites are important. The growth of the composites piezoelectric material industry is anticipated to b...
Read more