Tuesday, January 31, 2023

Email id: support@kenresearch.com, Contact Us : +91-9871552944

Home Business 3 Key Insights on ~US$ 450 Bn Opportunity in the Global Industrial...

3 Key Insights on ~US$ 450 Bn Opportunity in the Global Industrial Automation and Control Systems Market: Ken Research

Driven by Industry 4.0 and the quick transition of industries toward smart manufacturing have created enormous market prospects for the Global Industrial Automation and Control Systems Market which is forecasted to Cross ~US$ 450 Bn by 2028 says Ken Research Study.

Industrial automation uses technology and control systems, such as computers and robots, to complete activities that were previously completed manually. These solutions reduce the need for operator engagement and supervision by automating industrial equipment operations. Industrial automation control system solutions require smart devices for data gathering as well as secure infrastructures to enable communications and data transfers.

“Ken Research shares 3 key insights on this high-opportunity market from its latest research study.”

1.  Growing Demand for Automation, And Cutting-Edge, Integrated Technology Are Expected to Propel Market Growth

The ongoing need to increase profitability drives manufacturers to seek technologies that can increase productivity while requiring minimal resources. Industrial automation in this situation acts as a driver for improved dependability and efficiency and improves return on investment (ROI). Industrial automation reduces production costs while raising output rate and quality through the use of cutting-edge, integrated technology. It advances automation by replacing human work with computer programming and automation tools, producing a performance that is more efficient than manual operation.

According to Ken Research estimates, the Global Industrial Automation and Control Systems Market – valued at around ~US$ 150 billion in 2017 and estimated to reach nearly ~US$ 250 billion by 2022 – is further expected to grow to around ~US$ 450 billion opportunity by 2028.

Global Factory automation systems Market

2.  The Demand for Automation and Industrial Controls Is Anticipated to Grow Due to The Increasing Need for Increased Productivity.

The increasing use of automation in industries is the primary driver of market growth for Industrial Automation and Control Systems. The market for industrial controls and factory automation is expanding as a result of an increasing demand to use higher technology equipment to achieve better results. Automation results in higher-quality products that are produced more economically, boosting the product’s overall profitability margin. Energy can also be saved through automation. Furthermore, the demand for high yield and production, skills shortages, and increased emphasis on improving efficiency and accuracy to attain high yield and productivity are some of the other factors driving the growth of the factory automation & industrial controls market. The Asia Pacific is the largest region, such systems are increasingly being adopted in nations like India, Japan, China, and South Korea.

According to the International Federation of Robotics (IFR), in 2022 reported that with 243,300 installations in 2021, an increase of 44% from the year prior, the industrial robot’s market in China experienced significant growth.

Siemens Industrial Automation Market Share

3.  The Market Growth Could Be Hindered by The High Initial Cost of Setting Up Automation Control Units.

The worldwide factory automation & industrial controls market may be constrained by factors such as the high initial cost of installing factory automation & industrial controls systems and a lack of understanding regarding the quality of completed products produced employing automation. In addition to this, the market may be constrained by the scarcity of qualified individuals who can install automation and control processes.

Cost estimates for each collaborative robot system might be between ~US$3,000 and ~US$100,000. Prices for an industrial robotic system vary from ~US$ 15,000 to ~US$ 150,000, making them much more expensive.

Global Industrial Robots Component Market

For More Information, refer to below link:-

Industrial Automation and Control Systems Outlook

Related Report

Asia Pacific Robotic Arms Market Outlook and Forecast to 2027 – Driven by Rapid Industrial Automation, Advanced Technologies and Increasing R&D Investment

North America Automated Guided Vehicles Market Outlook and Forecast to 2027 – Driven by Rising Demand for Automation in Material Handling, Enhanced Workplace Safety and Improved Productivity

Contact Us:-

Ken Research

Ankur Gupta, Head Marketing & Communications

support@kenresearch.com

+91-9015378249

RELATED ARTICLES

The Government aims for wide adoption of 3D printing technology in the UAE by 2030: Ken Research

Buy Now 1. Due to the rise of the COVID-19 pandemic in the UAE this technology was used for the purpose of manufacturing commercially. 3D printing...

High Consumer Adoption Rate, Boost in Technology Industry, Alternative Payment Methods and Sustainable approaches are propelling the Outdoor Payment Terminal Market in Canada: Ken...

Buy Now 1. The Canada Outdoor Payment Terminal Market is expected to increase by ~ 100,000 units on the basis of total installed base with...

Indonesia Has Opened Their Doors For The Foreign Universities To Set-Up Their Branches In The Country Leading To An Increase In The Number Of...

Buy Now 1. Unlike other Middle Eastern Countries Indonesia has more Public Colleges than Private Colleges with more than ~50% of Public Universities To Know More...

Most Popular

Global Ethernet Controller Market is expected to reach US$ 15 Bn in 2028 growing with a CAGR of ~7%: Ken Research

Buy Now What Is the Size of Global Ethernet Controller Industry? Global Ethernet Controller market is growing at a CAGR of ~% in 2017-2022 and is...

Philippines Medical Education Market is in Growing Stage, driven by its Quality Education & increasing popularity

Buy Now Philippines Medical Education is one of the Finest especially in terms of cost of the Course as well as other Medical...

Thailand Medical Device Market is all set to grow with double-digit CAGR from 2021 to 2026F, with import contributing the highest revenue share –...

Buy Now 1. Thailand’s medical devices market is one of the most well-known and well-established sectors in ASEAN countries which grew at a CAGR of...

The Malaysia Medical Education Market is being driven by Increasing Number of Private Medical Colleges and Government Pro-Industry Orientation – Ken Research

Buy Now 1. Private universities dominate the Malaysia Medical Education Market. Private universities account for the majority of the universities present in Malaysia. Growing economy...