Industrial Control & Factory Automation Market Size, Global Industry Overview, Segmentation, Volume, Revenue, Growth and Forecast
Industrial 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%. Industrial automation involves the use of control systems, such as programmable logic controllers (PLCs), sensors, and other technologies, to automate processes and machinery in manufacturing plants, warehouses, and various industrial settings. This technology aims to reduce manual intervention, minimize errors, and optimize production throughput. The industrial automation market encompasses a wide range of applications, including manufacturing, energy, automotive, chemicals, pharmaceuticals, and more. One of the primary drivers behind the growth of the industrial automation market is the pursuit of operational efficiency. Automation enables precision and repeatability in manufacturing processes, resulting in higher quality products and reduced production time. This efficiency is particularly crucial in industries where large-scale pro