The global industrial control and factory automation market size is expected to grow from USD 151.8 billion in 2020 to USD 229.3 billion by 2025, at a CAGR of 8.6%. The major factors responsible for driving the growth of the industrial control and factory automation market are the emphasis on industrial automation and optimum utilization of resources, a rise in the adoption of robots in global manufacturing industry, the emergence of connected enterprises and requirement for mass manufacturing of products, the transformation of traditional factories into smart factories owing to technological advancements, and initiatives undertaken by governments of different countries to promote adoption of industrial automation.
Siemens (Germany), ABB (Switzerland), Emerson (US), Mitsubishi Electric (Japan), and Schneider Electric (France) are a few of the dominating players in the industrial control and factory automation market. Other companies involved in the development of smart manufacturing solutions include Rockwell (US), General Electric (US), Yokogawa (Japan), OMRON (Japan), and Honeywell (US).
Siemens is one of the leading companiesleveraging its capabilities with the help of various products and software suites for digitalization of both process and discrete industries. The automation and control solutions offered by the company meet the requirements of customers across different industries. Siemens spends a significant portion of its revenue in research and development activities. For instance, it spent 6.2%, 6.7%, and 6.5% of its overall revenue on research and development activities in 2017, 2018, and 2019, respectively. The company is a forerunner in the field of electrification, automation, and digitization. It offers a wide range of products related to the industrial automation technology.
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ABB is one of the largest conglomerates in the world with its notable presence in the energy and industrial automation industries. It invests increasingly in R&D activities for designing innovative products to match the requirements of customers and explore new opportunities in the market to drive its growth and profitability. The Industrial Automation division of the company accounted for a share of ~22% of its total revenue in 2019 with net sales worth USD 6,273 million. The vast product portfolio of ABB has helped it to sustain its customers and maintain a specific range of sales over the past years. The geographic presence of the company in regions such as the Americas, Asia, and Europe provide opportunities for it to expand its business globally.
Emerson is one of the prominent companies in the industrial control and factory automation market. The Automation Solutions segment of the company, which is responsible for offering pressure measurement solutions and other analytical instruments, is the largest contributor to its overall revenue generation. This trend has been there since the last few years, and considering the effort, the company is likely to continue to put in the expansion of this segment in the near future. Moreover, Emerson is making efforts to provide out-of-the-box services to its clients. The increased sales of USD 964 million show considerable growth of the company. In addition, its recent agreement with Saudi Arabian Oil Co. is likely to support the business growth of the Automation Solutions segment.
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