Dan’s Biz Bookshelf: 'Hidden Potential: The Science of Achieving Greater Things'
Trouble in Your Tank: Minimizing Small-via Defects for High-reliability PCBs
It’s Only Common Sense: 20 Lessons in 20 Years—A Career in Common Sense
Industrial Control and Factory Automation Market Worth $240B by 2023
October 3, 2017 | PRNewswireEstimated reading time: 3 minutes
According to the new market research report "Industrial Control and Factory Automation Market by Solution (SCADA, PLC, DCS, MES, PLM, PAM, Functional Safety), Component (Industrial Robots, Industrial 3D Printing, Control Valves, Machine Vision, HMI), Industry and Geography - Global Forecast to 2023", published by MarketsandMarkets, the market is expected to be valued at $239.11 billion by 2023 from $155.26 billion in 2017, at a CAGR of 7.4% between 2017 and 2023. Factors that are driving the growth of the market include the extensive use of enabling technologies in manufacturing, continuous innovation in industrial robotics boosting its adoption in manufacturing, need for mass production and connected supply chain to cater to the growing population, and government initiatives toward the adoption of industrial automation in various industries.
DCS to hold largest share of the industrial control and factory automation market during forecast period
Distributed Control System (DCS) handles the entire control structure of a plant as a single automation system. The installation of DCS in the power generation industry enables the companies to reduce downtime and improve production using optimal resources. The application of DCS in the oil & gas industry has also increased significantly with the rise in exploration activities in the oil fields. There are many benefits of using DCS systems in manufacturing plants such as ensuring decision integrity, simplifying complex operations, and increasing productivity. These benefits are influencing the growth of the industrial control and factory automation market.
IIoT to hold largest share of enabling technology supporting the manufacturing industries by 2023
Industrial Internet of Things (IIoT) used in manufacturing plants is an amalgamation of machine learning, big data, sensor data, and machine-to-machine (M2M) communication. The several processes in the manufacturing industries, such as shipping/logistics/transportation, assembly, packaging, and warehousing, use IIoT for better connectivity with the other connecting devices. The advantages include predictive and proactive maintenance, real-time monitoring, asset/resource optimization, and remote diagnosis. The IIoT supports the industrial control and factory automation market by providing real-time connectivity in the production process.
Industrial robots to hold largest share of industrial control and factory automation market by 2023
Industrial robots are re-shaping manufacturing industries by decreasing the manual labor. Industrial robots are used in industrial plants to provide the best outcome with no errors from a remote location. Using the automated robots in industrial production line reduces the time, cost, and waste, as well as helps in producing high-quality products with precision. Industrial robots offer various benefits such as accuracy, flexibility, lower labor cost, high speed, less product damage, and quiet operation. Different types of robots are used for various purposes in the industries. These factors drive the growth of the industrial control and factory automation market for industrial robots.
APAC to hold largest share of industrial control and factory automation market by 2023
The major application industries for the industrial control and factory automation market in Asia Pacific (APAC) are food, automotive, paper, textile, packaging, and printing. APAC is preferred as a manufacturing hub and hence motor vehicle suppliers such as Volkswagen (Germany), Toyota Motor (Japan), Renault (France), Daimler (Germany), and the local manufacturers such as Tata Motors (India), and Mahindra and Mahindra (India) have made investments in automation to support the growth of the market in this region. Adoption of automation in the automotive industry in APAC drives the growth of the industrial control and factory automation market in this region.
About MarketsandMarkets
MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.
Share on:
Testimonial
"The I-Connect007 team is outstanding—kind, responsive, and a true marketing partner. Their design team created fresh, eye-catching ads, and their editorial support polished our content to let our brand shine. Thank you all! "
Sweeney Ng - CEE PCBSuggested Items
KIC Expands Footprint in Mexico to Deliver Faster, Localized Support
08/29/2025 | KICKIC, a leading provider of thermal process solutions for electronics manufacturing, has announced the expansion of its service capabilities in Mexico.
SEMICON Europa 2025 Spotlights Global Collaborations for European Economic Resilience
08/28/2025 | SEMISEMICON Europa 2025, co-located with productronica, will return to Munich from November 18-21 to mark its 50th anniversary, bringing together global industry leaders, innovators, and policymakers to strengthen Europe’s position in the global semiconductor landscape. Registration is open.
North American EMS Industry Shipments Down 4.1% in July
08/27/2025 | Global Electronics AssociationThe Global Electronics Association announced today the July 2025 findings from its North American Electronics Manufacturing Services (EMS) Statistical Program. The book-to-bill ratio stands at 1.23.
SIA Statement on Semiconductor Tariffs Announcement
08/27/2025 | SIAThe Semiconductor Industry Association (SIA) released the following statement from SIA President and CEO John Neuffer regarding President Trump’s semiconductor tariff announcement.
SMTA Elects New Board Members
08/27/2025 | SMTAThe SMTA is pleased to announce its election results for the Global Board of Directors for the term beginning October 19, 2025. Elizabeth Benedetto, HP Inc.; Pratish Patel, Electronic Interconnect; and Sutharshan Suppiramaniam, SMT Elite Corporation, have been newly elected to the Board of Directors for the term 2025-2028.