Industrial Control and Factory Automation Market Estimation, Dynamics, Outlook, Research, Trends and Forecasts to 2025


Posted January 30, 2019 by NickJorden7

According to Verified Market Intelligence, The Global Industrial Control and Factory Automation Market was valued at USD 152.36 billion in 2016 and is projected to reach USD 287.74 billion by 2025, growing at a CAGR of 7.32% from 2017 to 2025.

 
Industrial control and factory automation system mainly comprise of computers, information technologies, and equipment that helps in handling various machinery and processes in an industry. It helps in reducing the human interaction in carrying out various processes in different industries. Industrial control and factory automation system offer many benefits such as high productivity, flexibility, reliability, high information accuracy, enhanced production quality, improved safety, minimal use of workers and many more. Increasing demand for smart manufacturing infrastructure has led to the growth of industrial control and factory automation market.
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Growing demand for safety compliance automation products, increasing government initiatives for industrial automation in various sectors, and the rise in usage of enabling technologies in manufacturing have been driving the global industrial control and factory automation market. On the other hand, high initial cost, lacking technical expertise and increasing cyber threats might hinder the overall growth at a global level.
The “Global Industrial Control and Factory Automation Market” study report will provide a valuable insight with an emphasis on the global market including some of the major players such as ABB, Schneider Electric, Siemens, Rockwell Automation, Emerson Process Management, Yokogawa, Honeywell, Ametek Inc, Aspen Technology Inc, and Omron. Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis.
Full Report is Available @ https://www.verifiedmarketresearch.com/product/global-industrial-control-and-factory-automation-market-size-and-forecast-to-2025/

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Issued By VMR
Country United States
Categories Industry , Semiconductors , Transportation
Tags industrial control and factory automation market
Last Updated January 30, 2019