The Factory Automation and Industrial Control Systems market is expected to register a CAGR of over 8.4% during the forecast period 2019

2024. The evolution of technological advancements and innovations across various manufacturing units have encouraged the adoption of automation technologies. Digitization and Industry 4. 0 revolution have significantly stimulated the growth of automation among industries, by necessitating the use of smarter and automated solutions, such as robotics and control systems, to improve production processes.

/EIN News/ -- New York, Oct. 23, 2019 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Factory Automation & Industrial Controls Market - Growth, Trends, and Forecast (2019 - 2024)" - https://www.reportlinker.com/p05797259/?utm_source=GNW


Automation has drastically changed the way of production in the industrial sector, by reducing the manufacturing time and production costs. The production lines in several factories were manual, for a considerable time. Even if there have been improvements in assembly technologies, such as faster pick-and-place machines and smarter reflow ovens, the back-end operations have remained non-automated.
Hence, there has been an exponential rise in labor costs. In addition, the quality requirements are also getting more stringent. Against this backdrop, factory automation can cause a reduction in production, operation, and labor costs.
Various advancements have been made in the automation of the various activities that were formerly carried out manually, particularly in the labor-intensive manufacturing industry, with most of these being almost fully automated, using the latest technologies. This has led to improved efficiency, high-quality products, and attendant savings in labor and costs.
The high costs of automated systems are associated with effective and robust hardware and efficient software. Automation equipment requires higher capital expenditure, to invest in automation technologies (an automated system can cost millions of dollars to design, fabricate, and install). They also require a higher level of maintenance, than a manually operated machine, and a generally lower degree of flexibility in terms of the possible products, as compared to a manual system (even flexible automation is less flexible than humans, the most versatile machines of all).
The sluggish adoption of Industrial IoT technologies can be linked to the higher costs for maintaining their connections, considering that M2M connections were charged heavy taxation, similar to mobile device subscriptions. The acquisition and installation cost of a control system for industrial automation represents half of the total cost, during its lifetime. Additionally, the frequent changes in technology and networking result in significant cost, which is more than that of the initial investment, further slowing down the adoption.
In addition, significantly low adoption in SMEs, in developing countries like Brazil, which cannot bear the product costs, is restraining the market’s growth.

Scope of the Report
The Industrial control and Factory automation is a rising trend in the manufacturing industry which provides smart manufacturing infrastructure. The industrial control and factory automation facilitate cost efficiency, quality of production; standardize manufacturing, reliability, and flexibility in the process of manufacturing. Industrial control and factory automation offers a perfect mix of mechanical components and devices and Information Technology Market

Key Market Trends
Utilities Sector Expected to Register a Significant Growth

Process automation paves the path for digital data and analytics that can reduce power system costs by following means
By reducing operations and maintenance costs
By improving power plant and network efficiency
By reducing unplanned outages and downtime and
By extending the operational lifetime of assets.
The overall savings from these digitally-enabled measures are estimated to be in the order of USD 80 billion per year over 2016-40, or about 5% of total annual power generation costs based on the enhanced global deployment of available digital technologies to all power plants and network infrastructure.

Data centers worldwide consumed around 194 TWh of electricity in 2014, or about 1% of total demand. Although data center workload is estimated to triple by 2020, related energy demand is expected to grow by only 3%, due to continued efficiency gains. This is expected to drive the growth in power generation for meeting the demand from ICT sector.

The evolution of smart grid and a synchronization to match the variable demand for the electricity, between the peak demand period to rest of the period demand, is expected to further create high demand from the energy and utilities sector. Due to the automation of processes and a networked system communication, digitalization can help integrate the renewable energy by enabling grids to match energy demand to times when the wind is blowing and the sun is shining.In the European Union alone, increased storage and digitally-enabled demand response is estimated to reduce curtailment of solar PVs and wind power from 7% in 2017 to 1.6% in 2040, avoiding 30 million tons of CO2 emissions in 2040.

China Expected to Hold a Major Share in Asia Pacific region

Despite China accounting for 25% of the world’s manufacturing activities, its manufacturing productivity is a mere one-fifth of that of developed economies. Companies in the country are, thus, embracing Industry 4.0 to improve productivity. A strong indicator of automation uptake in the country is the 58% increase in robot density in 2017 as compared to 2015. Further, the Chinese government’s programs, such as the Made in China 2025 plan, are promoting the use of R&D in factory automation and technologies and its investments. Also, as most of the automation equipment is imported from Germany and Japan, the ‘Made in China’ initiative aims to expand the country’s domestic production of automation hardware and equipment.

China is the 28th fastest in the world, and has a very high industrial production rate. These factors act as drivers for the automation market in the country. Investments are being planned for aiding the quality of growth, addressing environmental concerns, and reducing overcapacity, for the same. The number of companies deploying factory and process automation technologies and robotics in the country is less when compared to the enormous size of China’s manufacturing base and the number of workers it employs. This trend presents a great opportunity for companies in the industrial automation sector in China.

Automation in the country is also expected to be augmented by the uptake of smart manufacturing. As per the Ministry of Industry and Information Technology, China is anticipated to initiate 100 smart manufacturing pilot projects in 2018. According to the 13th Five-Year Plan of Smart Manufacturing, China aims to establish its intelligent manufacturing system and complete the key industries’ transformation by 2025.

Competitive Landscape
The Factory Automation and Industrial Control Systems market is highly competitive and consists of several major players. In terms of market share, few of the major players currently dominate the market. These major players with prominent share in the market are focusing on expanding their customer base across foreign countries. These companies are leveraging on strategic collaborative initiatives to increase their market share and increase their profitability. The companies operating in the market are also acquiring start-ups working on Factory Automation and Industrial Control Systems to strengthen their product capabilities. In May 2018, Texas Instruments announced the mass production of its highly integrated, ultra-wideband AWR1642 and IWR1642 mmWave sensors. These sensors support frequencies from 76 to 81 GHz and deliver three times more accurate sensing and the smallest footprint at a fraction of the power of competing for sensor technologies. Thousands of customers are developing with the company’s mmWave sensors to enable innovation in automotive and industrial applications, including vehicle occupancy detection, people counting in buildings, machine, and human interaction, and more.

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