Dublin, May 09, 2025 (GLOBE NEWSWIRE) -- The "Factory Automation Market Opportunities and Strategies to 2034" report has been added to ResearchAndMarkets.com's offering.
This report describes and explains the factory automation market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.
The global factory automation market reached a value of nearly $288.77 billion in 2024, having grown at a compound annual growth rate (CAGR) of 6.08% since 2019. The market is expected to grow from $288.77 billion in 2024 to $503.27 billion in 2029 at a rate of 11.75%. The market is then expected to grow at a CAGR of 11.62% from 2029 and reach $872.01 billion in 2034.
Growth in the historic period resulted from the increasing digital transformation, rising labor costs, rise in industrialization and growth in robotics adoption. Factors that negatively affected growth in the historic period were high initial costs.
Going forward, the growing adoption of automation, favorable government initiatives, increasing urbanization, increasing adoption of IoT and strong economic growth in emerging markets will drive the growth. Factor that could hinder the growth of the factory automation market in the future include shortage of skilled workforce.
The global factory automation market is fairly fragmented, with a large number of small players operating in the market. The top ten competitors in the market made up to 13.93% of the total market in 2023. Keyence Corporation was the largest competitor with a 2.50% share of the market, followed by Mitsubishi Electric Corporation with 2.30%, Fanuc Corporation with 2.00%, Schneider Electric SE with 1.58%, Bosch Rexroth AG (Robert Bosch GmbH) with 1.44%, Yokogawa Electric Corporation with 1.09%, Siemens AG with 0.85%, Omron Corporation with 0.76%, ABB Ltd with 0.76% and General Electric Company with 0.67%.
The factory automation market is segmented by component into sensors, controllers, switches and relays, industrial robots, drives and other components. The industrial robots market was the largest segment of the factory automation market segmented by component, accounting for 26.23% or $75.75 billion of the total in 2024. Going forward, the controllers segment is expected to be the fastest growing segment in the factory automation market segmented by component, at a CAGR of 13.67% during 2024-2029.
The factory automation market is segmented by factory automation technology into distributed control system (DCS), supervisory control and data acquisition system (SCADA), manufacturing execution system (MES), systems instrumented system (SIS), programmable logic controller (PLC), human machine interface (HMI) and other technologies. The supervisory control and data acquisition system (SCADA) market was the largest segment of the factory automation market segmented by factory automation technology, accounting for 25.19% or $72.74 billion of the total in 2024. Going forward, the manufacturing execution system (MES) segment is expected to be the fastest growing segment in the factory automation market segmented by factory automation technology, at a CAGR of 14.39% during 2024-2029.
The factory automation market is segmented by end-user into manufacturing, automotive, packaging and processing, energy and power, semiconductor and electronics, printing and converting and other end-users. The manufacturing market was the largest segment of the factory automation market segmented by end-user, accounting for 30.22% or $87.26 billion of the total in 2024. Going forward, the semiconductor and electronics segment is expected to be the fastest growing segment in the factory automation market segmented by end-user, at a CAGR of 14.38% during 2024-2029.
Western Europe was the largest region in the factory automation market, accounting for 32.18% or $92.91 billion of the total in 2024. It was followed by Western Europe, Asia Pacific and then the other regions. Going forward, the fastest-growing regions in the factory automation market will be South America and Middle East where growth will be at CAGRs of 29.15% and 19.76% respectively. These will be followed by Africa and Eastern Europe where the markets are expected to grow at CAGRs of 16.80% and 15.23% respectively.
The top opportunities in the factory automation market segmented by component will arise in the industrial robots segment, which will gain $62.41 billion of global annual sales by 2029. The top opportunities in the factory automation market segmented by factory automation technology will arise in the supervisory control and data acquisition system (SCADA) segment, which will gain $59.24 billion of global annual sales by 2029. The top opportunities in the factory automation market segmented by end-user will arise in the manufacturing segment, which will gain $70.04 billion of global annual sales by 2029. The factory automation market size will gain the most in China at $38.07 billion.
Market-trend-based strategies for the factory automation market include focus on integration of IoT for enhanced operational efficiency and smart manufacturing, focus on advanced robotics and automation solutions enhancing precision in manufacturing, focus on leveraging AI for enhanced automation in manufacturing operations, focus on focus on facility expansions enabling enhanced production capacity and focus on strategic partnerships and collaborations among market players.
Player-adopted strategies in the factory automation market include focus on enhancing operational capabilities through new launches, focus on enhancing business operations by opening new production facilities and focus on leveraging strategic partnerships, aimed at capturing market share by offering superior performance and efficiency.
To take advantage of the opportunities, the analyst recommends the factory automation companies to focus on IoT integration for enhanced efficiency, focus on advanced robotics for greater productivity, focus on artificial intelligence for smarter automation, focus on facility expansions for enhanced automation, focus on controllers to drive growth, focus on manufacturing execution systems for market growth, expand in emerging markets, focus on strategic partnerships for innovation and efficiency, focus on expanding distribution channels for factory automation companies, focus on pricing strategy alignment with market demand, focus on digital marketing strategies to drive growth for companies, focus on industry trade shows and conferences and focus on semiconductor and electronics for market growth.
Major Market Trends
- Integration of IoT for Enhanced Operational Efficiency and Smart Manufacturing
- Advanced Robotics and Automation Solutions Enhancing Precision in Manufacturing
- Leveraging AI for Enhanced Automation in Manufacturing Operations
- Focus on Facility Expansions Enabling Enhanced Production Capacity
- Strategic Partnerships and Collaborations Among Market Players
Key Mergers and Acquisitions
- AAE Acquired Solara Automation
- Rockwell Automation Acquired Clearpath Robotics
- Emerson Acquired Afag Holding
- SHL Medical Acquired LCA Automation
Companies Featured
- Keyence Corporation
- Mitsubishi Electric Corporation
- Fanuc Corporation
- Schneider Electric SE
- Bosch Rexroth AG (Robert Bosch GmbH)
- Yokogawa Electric Corporation
- Siemens AG
- Omron Corporation
- ABB Ltd.
- General Electric Company
- Alliance Automation
- Rockwell Automation Inc.
- Honeywell International Inc.
- Yaskawa Electric Corporation
- Emerson Electric Company
- Renishaw plc
- Automated Industrial Robotics Inc.
- Sewtec Automation
- PepsiCo
- KUKA AG
- AAE Group
- Accenture plc
- Solara Automation
- Clearpath Robotics
- Eclipse Automation
- Ford Motor Company
- Tesla Inc.
- TE Connectivity
- Sense Eletronica Ltda
- Industrias Metalurgicas Pescarmona SA (IMPSA)
- Celsia SA
- Cemex Colombia SA
- Metso Outotec
- Grana y Montero SAA
- Alicorp SAA
- Vacker KSA
- Sabic
- Nadec
- Almarai
- Tasnee
- Tulip Technologies
- Nintex
- PG Bison
- Tectra Automation
For more information about this report visit https://www.researchandmarkets.com/r/xkw0ot
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