Factory Automation Market Size, Share, Growth, and Global Outlook to 2029 | DataMIntelligence

DataM Intelligence
The Global Factory Automation Market is estimated to reach a high CAGR of 8.5% during the forecast period (2022-2029).

Market Overview

Factory automation is the inclusion of automation from end-to-end production processes. In manufacturing environments, automation leverages technologies, such as hydraulic systems, pneumatic systems and robotic arms to offer more consistency, reduce wastage, increase productivity, better quality and safer working conditions.

The increasing adoption of components, smart systems, machinery and equipment for the betterment of manufacturing processes through automation has boosted the demand for smart factories for supply chain logistics, planning and product development.

 

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Market Dynamics

Modern-day manufacturing practices demand greater efficiency, speed and cost controls to maximize profits and revenues. Thus, the objectives cannot be met without the large-scale adoption of automation.

Automation greatly increases production speed, especially in conveyor belt-type systems, while delivering efficiency and reduced downtime. The production lines can be run 24/7 with minimal human intervention.

The growing use of automation across various industries is of the most important factors driving the growth of the global factory automation market.

 

Market Segmentation

By Type
By Component
By Solutions
By End-User
By Region

 

By Type – Flexible Automation

Programmable automation is a subset of flexible automation. Flexible automation systems can produce many parts with minimal downtime during changeovers. Flexible automation is a manufacturing method that adapts and responds quickly to changes in production requirements, such as product kind and quantity. Machines are controlled by computerized systems programmed and operated by humans using HMIs (human-machine interfaces) (Human Machine Interfaces).

The system can be set up or programmed to make many product types simultaneously. The system can also develop a made-to-order strategy allowing customers to tailor their purchases. Robotics, assembly systems and material handling systems are examples of flexible automation.

 

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Geographical Analysis – Middle East & Africa

The GCC aims to enter into a new era of manufacturing based on modern industrial society. One of the primary elements driving growth in the region’s automation and manufacturing industries is the growing active cooperation between government, regulators and organizations for economic development.

Furthermore, Increased investments in the oil and gas industry are driving the market in these countries. Progress in the oil and gas industry spills over into other industries, especially energy solutions. For example, in October 2019, the Nigerian government collaborated with Norway to develop measures to expand Nigeria’s electricity sector.

 

Competitive Landscape

Factory automation is the linking up of factory equipment to increase the efficiency and reliability of process control systems. The linking up drives improved quality, increased flexibility, lower costs and less environmental impact. Factory automation uses control systems, such as robots or computers and data technologies, to manage various machinery & processes in the industry to substitute a human being. Earlier, the automation design improved productivity and decreased the cost associated with human operators.

Technology launches, new projects, awards, acquisitions and R&D activities are key strategies adopted by players in the factory automation market. The companies compete based on the price, product specifications, technologies and market presence. 

 

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