Challenges and Opportunities in the Industrial Control & Factory Automation Market
Industrial Control and Automation market size is estimated to be USD 147.9 billion in 2022 and is projected to reach USD 218.8 billion by 2027, at a CAGR of 8.2%. One of the key drivers of this market is the rapid adoption of Industry 4.0 principles. Industry 4.0, often referred to as the fourth industrial revolution, emphasizes the integration of smart technologies, data exchange, and automation in manufacturing. Industrial control and factory automation systems play a pivotal role in realizing the vision of Industry 4.0 by enabling the seamless connectivity and communication of devices and systems throughout the manufacturing environment. A core component of industrial control and factory automation is Programmable Logic Controllers (PLCs). PLCs are critical for controlling machinery and processes in manufacturing plants. These controllers are pro...