Factory automation market is increasingly developed and fortified from using of new enabling technology.
In according to some recent report analyses, the factory automation market is set to increase at a CAGR (Compounded Average Growth Rate) of 7,4% and to reach $239.11 billion by 2023 from $155.26 billion in 2017. More than $80 billion of growth in only 6 years!
Global companies leading in the factory automation market are Siemens (Germany), ABB (Switzerland), Emerson (US), Mitsubishi (Japan), and Schneider (France), Rockwell (US), General Electric (US) and Yokogawa (Japan).
China is one of the major countries concentrated on the growth of automation technologies and on investing in industrial control. That’s because the Chinese government has invested a lot in manufacturing industrial and information integration.