Factory automation and industrial controls market provides process automation in industrial setup. The overall automation market is expected to reach $125 billion by 2018 at a CAGR of 7.3%. The global factory automation & industrial control market is expected to grow at a good rate. It is estimated that almost 35% to 50% of production cost is due to energy consumption and wastage in an industrial unit. Factory automation plays a significant role in reducing energy consumption and increasing operational efficiency, which are the key drivers for the market.
However, most of the industrial units operate on a tight budget, especially for SMEs; therefore, there are limited re-investment opportunities, as profits are not very high. This is one of the major restrains for the growth of the market as not all production facilities can afford investment in automation and industrial control. Another challenge for companies in the market is the lack of trained professionals who can assist the implementation of automation processes. Companies are offering training programs and certifications to interested individuals to overcome this challenge.
Key companies profiled in this report are Ametek, Inc., Bosch Automation, Emerson, Honeywell International, Mitsubishi Corporation, National Instrument Corporation, Schneider Electric, General Electric Co, Siemens Ag, and Yokogawa Electric Corporation.
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