As stated by a market professional at P&S Intelligence, the industrial control & factory automation market will advance at a rate of 8.60% in the years to come, to touch USD 286.8 billion by 2030.

Sensors component category had a substantial share, of more than 24%, in 2022. Sensors have an important role to play in smart manufacturing by collecting data and offering data support.

Read More: https://www.psmarketresearch.com/market-analysis/industrial-control-and-factory-automation-market

Furthermore, the exponential increase in the acceptance of IoT and other Industry 4.0 technologies is powering the employment of sensors. Smart sensors, collecting statistics from the surroundings and numerous pieces of infra, are quickly being upgraded, therefore powering the intelligent alteration of industrial internet terminals.

The automotive division had the second-largest share of revenue in 2022, after healthcare. The altering priorities of the consumers and tech breakthroughs combine to an essential shift in individual mobility behavior.

As a result of the fast globalization and the financial growth of emerging nations, for example Brazil and India, the living standards of consumers has improved recently, thus ensuing the increasing requirement for automobiles.

The automotive sector has always been considered as a major end -user for industrial robots. In the year 2020, about one-fifth of the industrial robot installations globally took place in the automotive industry.

The increasing requirement for improved solutions for managing industrial plants in China and India is responsible for the domination of the industrial control & factory automation market in the APAC region.

The region had a revenue share of more than 39% in 2022, and will continue its ascendency in the years to come. The robust advance also has a lot to do with the presence of important players of the market and emerging companies.

Basically, the shift to smart production facilities from the conventional ones supports the approval of industrial automation, therefore powering the growth of the industry.

Furthermore, the automotive industry is among the fastest-growing industries in India, which itself is among the of the largest auto component manufacturers globally. This is attributed to the growing popularity of EVs and autonomous vehicles.

Amongst all components, industrial robots will power at the highest rate, of about 10%, in the years to come. The usage of robotics is growing steadily across automotive, pharma, electronics, and food & beverage industries recently.

Furthermore, robots are extensively used by the automotive sector. In 2021, the robot density in the automotive industry of the U.S. hit a novel record of 1,000 mounted units for every 10,000 employees.

It is because of the rise in predictive analysis, artificial intelligence and 5G, the demand for industrial control and factory automation solutions will continue to rise in the future.