The global factory automation market is estimated to have reached a value of around $120 billion in 2010, and is expected to rise to a total of $185 billion by 2016. This suggests a CAGR of around 7.6% between 2010 and 2016. The leading regions in the global factory automation market are the Americas and Europe. In these regions factory automation is a key part of major industries such as mining, automotives, power plants and petrochemicals.
With the focus of increasing their overall revenues companies are targeting the industrial segments in Asia-Pacific and Rest of the World regions. This is due to large gap between the application industry and automation tools in these areas. In view of this, big players like Emerson, ABB have taken the advantage by either collaborating or merging with the local players to setup their market in these regions. Owing to the high rate of adoption, all the major players in this industry are launching the new products which are customized to the local application industries.
Factory automation comprises of automation and minimization of manual and personnel-related work over industrial process, production processes, and manufacturing activities. Technological advancements in process monitoring, control and industrial automation over the past decades have contributed greatly to improve the productivity of virtually all manufacturing industries throughout the world.
The key companies with respect to factory automation include Siemens (Germany), ABB (Switzerland), Emerson Process Management (U.S.), Rockwell Automation (U.S.), Schneider Electric (France), Honeywell (U.S.), Omron (Japan), Yokogawa (Japan) and others.For more information on the Global factory automation market, please click here: Global factory automation market
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