Industrial Control & Factory Automation Global Market Report 2024

The industrial control & factory automation market size has grown strongly in recent years. It will grow from $150.24 billion in 2023 to $163.9 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%. Efficiency and cost reduction objectives, alongside the adoption of DCS systems, integration of MES systems, human-machine interface (HMI), and computer numerical control (CNC), are key factors contributing to the growth observed in the historic period.

The industrial control & factory automation market size is expected to see strong growth in the next few years. It will grow to $224.79 billion in 2028 at a compound annual growth rate (CAGR) of 8.2%. The anticipated growth in the forecast period is linked to the implementation of smart manufacturing practices, a focus on energy efficiency, integration of artificial intelligence and machine learning, the swift adoption of IoT devices, and the evolution of Industry 4.0. Notable trends in this period encompass remote and smart manufacturing, an emphasis on energy efficiency and sustainability, the adoption of predictive maintenance strategies, the integration of edge computing in automation, and the implementation of cybersecurity measures.

The industrial control and factory automation market are poised for growth, primarily fueled by the emergence of connected enterprises. These enterprises leverage IoT technology to digitize business processes, enhancing operational efficiency. Business process automation is a pivotal component of connected enterprises, allowing factories to operate with greater efficiency and enabling organizations to redirect resources toward advanced technologies and digitalization systems. According to the Global Digital Transformation Survey 2021 conducted by Fujitsu, 78% of respondents effectively responded to the COVID-19 pandemic by relying on agility, digitalization, and employee well-being. The survey revealed that 44% of respondents anticipated automating more than half of their current business processes by 2025, with business process automation ranking second on their priority list. Hence, the rising prevalence of connected enterprises is a key driver for the industrial control and factory automation market.

The growth in vehicle production is set to contribute significantly to the expansion of the industrial control and factory automation market. Industrial control and factory automation technologies play a crucial role in streamlining manufacturing processes, improving efficiency, and ensuring precision in vehicle assembly. This, in turn, leads to increased productivity and the production of higher-quality automotive products. According to data from the European Automobile Manufacturers Association (ACEA), global vehicle production reached 85.4 million units in 2022, marking a 5.7% increase compared to the previous year. The surge in vehicle production serves as a driving force for the industrial control and factory automation market.

Innovation in product offerings is a prominent trend in the industrial control and factory automation market, with major companies introducing cutting-edge solutions to maintain their market positions. For example, Schneider Electric, a France-based digital automation and energy management company, launched the EcoStruxure Automation Expert industrial automation system in February 2021. This software-based system allows users to distribute applications to any system hardware and build applications using asset-centric components, maximizing workforce optimization and efficiency.

Leading companies in the industrial control and factory automation market are focused on developing advanced systems, such as distributed control systems (DCS), to drive digital transformation. ABB, a Switzerland-based power and automation technology company, introduced the ABB Ability Symphony Plus DCS in 2023. This system provides secure access to an extended digital ecosystem, offering fleet asset management through ABB Ability Genix Asset Performance Management and enabling access to process and alarm data from mobile devices.

In April 2021, Accenture, an Ireland-based professional services company, acquired Pollux, a Brazil-based provider of industrial robotics and automation solutions. This strategic acquisition aimed to enhance Accenture's capabilities in serving clients across various industries, including consumer goods, pharmaceuticals, and automotive, by improving productivity, safety, and sustainability in factories, plants, and supply chains.

Major companies operating in the industrial control & factory automation market report are ABB Ltd., Emerson Electric Co., Siemens AG, Schneider Electric SE, Mitsubishi Electric Corporation, General Electric Company, Rockwell Automation Inc., Honeywell International Inc., Yokogawa Electric Corporation, Omron Corporation, Endress+Hauser Group, FANUC Corporation, WIKA Alexander Wiegand SE & Co KG, Dwyer Instruments Inc., Stratasys Ltd., 3D Systems Corporation, Azbil Corporation, Krohne Group, Fuji Electric Co Ltd., Hitachi Ltd., VEGA Grieshaber KG, PINpoint Information Systems Inc, Inxpect SPA, Algolux Inc., Yaskawa America Inc., Roboze SPA, Seiko Epson Corporation, Advantech Co Ltd., RS Americas Inc., Applied Materials Inc., Aspen Technology Inc., Beckhoff Automation GmbH & Co KG, Bosch Rexroth AG, Cognex Corporation, Danaher Corporation, Delta Electronics Inc.

Asia-Pacific was the largest region in the industrial control & factory automation market share in 2023. The regions covered in the industrial control & factory automation market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the industrial control & factory automation market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Components integral to industrial control and factory automation encompass industrial robots, machine vision systems, process analyzers, field instruments, human-machine interface (HMI), industrial PCs, industrial sensors, industrial 3D printing, vibration monitoring, and other relevant elements. Industrial robots, as mechanical machines, are programmed to automate industrial tasks, thereby reducing repetitive manual activities in the manufacturing process and elevating organizational productivity. Significant solutions in this realm include distributed control systems (DCS), supervisory control and data acquisition (SCADA), programmable logic controllers (PLC), manufacturing execution systems (MES), product life cycle management (PLM), plant asset management (PAM), and functional safety. These solutions find application across diverse industries, including the process industry and discrete industry.

The industrial control & factory automation market research report is one of a series of new reports that provides industrial control & factory automation market statistics, including industrial control & factory automation industry global market size, regional shares, competitors with an industrial control & factory automation market share, detailed industrial control & factory automation market segments, market trends and opportunities, and any further data you may need to thrive in the industrial control & factory automation industry. This industrial control & factory automation market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


This product will be delivered within 3-5 business days.