Industrial Control and Factory Automation Market

1. Industrial Control and Factory Automation Market

2. The total revenue generated by the industrial control & factory automation market was USD 148.3 billion in 2022, and it will power at a rate of 8.60% by the end of this decade, for reaching USD 286.8 billion by 2030. IoT is a method where many devices, for example wearables, home appliances, and even manufacturing machines, are associated to the internet, data sharing with each other and a control center. These interrelated smart devices allow automation across numerous industries. Request for sample pages of this report: https://www.psmarketresearch.com/market-analysis/industrial-control-and-factory-automation-market/report-sample Presently, organizations are advancing in IoT and manufacturing automation for their business development powered by tech progressions. As per Oxford Economics, 34% of the producers said investments in AI were their precedence, while 27% said they arrange predictive analytics and 19% were resolutely absorbed on initiatives including ML. Amongst all components, the industrial robots category will grow at the highest rate, of about 10%, in the years to come. The usage of robotics has seen a stable increase across industries for example electronics, automotive, pharma, and food & beverage recently.

3. For example, to stay in the competition and be future-ready for production requirements, manufacturing facilities in India are extensively employing robotic automation. For achieving the vision of Make in India, it is important to surge the usage of this technology to complement human operations. This will surely allow a mix of accuracy, skill, speed and consistency. Furthermore, robots are extensively employed by the automotive sector in 2021, the robots density in the automotive sector of the U.S. automotive industry made a novel record of 1000 installed units per 10,000 employees. Sensor components had a considerable revenue share, of more than 24%, in 2022, as stated by a market research institution, P&S Intelligence. Sensors have an important role to play in smart manufacturing by collecting data and delivering basic data support. Furthermore, the exponential increase in the acceptance of IoT and other Industry 4.0 is powering the usage of sensors. Smart sensors, collecting statistics from the surroundings and numerous pieces of infra, are being upgraded fast, therefore powering the intelligent alteration of industrial internet terminals. Browse full report at: https://www.psmarketresearch.com/market-analysis/industrial-control-and-factory-automation-market The increasing requirement for enhanced solutions for managing industrial plants in China and India is accountable for the region's domination in the industrial control & factory automation market. It had a share of more than 39% in 2022, and it will continue dominating by the end of this decade. The robust growth is also credited to the existence of main market players and developing companies in the APAC. Because of the rise in predictive analysis AI and 5G, the demand for industrial control & factory automation solutions will continue to grow in the years to come.

4. Disclaimer: P&S Intelligence always keeps its customers’ interests at the core while carrying out research activities. P&S Intelligence ensures the reliability and accuracy of information and data provided in its market research publications. However, the information in publications is subject to fluctuations, as it is based on primary interviews of officials from various companies or organizations. P&S Intelligence is not responsible for any incorrect data provided by the key industry players of the concerned domain. the information or analysis in P&S Intelligence publications represents opinions based on research and should not be interpreted as statements of fact. Information in this report was believed to be correct at the time of publication, but cannot be guaranteed. P&S Intelligence does not endorse any product, service, or vendor depicted in its research publications. All intellectual properties, including trademarks and copyrights, belong to their respective owners and may be protected by copyright. Under no circumstance can these be reproduced in any form without prior written agreement of their owners. An order for market research report is intended for internal use of the company only and not for disclosure to third parties or any other publication in general. No service, report, or part thereof provided by P&S Intelligence can be reproduced, republished, resold, revealed, distributed, circulated, or sublicensed in any medium or form now realized or hereafter become realized, including but not limited to, all forms of optical-based media, magnetic, electronic, or digital, without a written permission from Prescient & Strategic Intelligence Pvt. Ltd. • For queries related to sales, contact us at: • enquiry@psmarketresearch.com • US/Canada Toll-Free: 1-888-778-7886 • International: +1-347-960-6455 • India: +91 120 4541 337 To know more about us, visit our website psmarketresearch.com