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Global Industry Insight: Industrial Control and Factory Automation Market Size, Share, Development, Growth and Demand Forecast to 2020
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The lack of skilled labor, in addition to high installation and maintenance cost of the industrial control & factory automation equipment are hindering the growth of the market up to some extent, especially in the cost sensitive developing countries. Furthermore, the free-fall in the oil and gas prices has also affected the growth of the industrial control & factory automation market, since oil and gas industry is its major end user. However, the other processing industries including food and beverages processing has witnessed lucrative growth over the past few years, which in turn is driving the growth of the global industrial control automation market. Brazil, Russia, India, China and South Africa (BRICS) are expected to witness the fastest growth during the forecast period. The market of industrial control & factory automation in the developed countries of North America and Europe are expected to witness below average growth.
Geographically, Asia-Pacific accounted for the largest market of industrial control & factory automation in 2014. The emergence of China as a global manufacturing hub, along with the increasing penetration of advanced automation technology in the processing industries of the region is the major growth driver of the market. The North American and European market of industrial control & factory automation are growing moderately. The growth in these regions is mainly anticipated from the replacement of existing automation technology with smart and more ecofriendly industrial automation technology. Country wise, Germany, the U.K., Italy, the U.S., and Canada are expected to be the major markets in the developed region.
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Some of the competitors in the global industrial control & factory automation market are Emerson Electric Corporation, Schnieder Electric, General Electric, Johnson Controls Inc., Honeywell International Inc., Rockwell Automation Inc., and Siemens AG.
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