The continuously growing demand for factory automation has compelled the market players to raise investments in the development of new and innovative products and software offerings. A few of the major product developments are mentioned below:
Such advancements in factory automation solutions, supported by high investments by global manufacturers to enhance their product portfolio and innovate products as per customer changing requirements, are expected fuel the growth of the factory automation market during the forecast period. In addition, new product launches help end-user industries, such as automotive, food & beverages, oil & gas, and mining, improve production time.
ABB LTD.; Emerson Electric Co.; FANUC; General Electric Company; Honeywell International Inc.; Mitsubishi Electric Corporation; Omron Corporation; Robert Bosch GmbH; Rockwell Automation, Inc., and Siemens AG are among the major players operating in the North America factory automation market. The rising investments by these companies in technological developments is propelling the North America factory automation market growth.
Based on component, the North America factory automation market is bifurcated into hardware and software. In 2021, the hardware segment accounted for a larger share in the market. The rapid adoption of robots across several industries, such as automotive, manufacturing, food & beverage, and energy, to automate various production processes drives the market growth for the segment. Moreover, small & medium manufacturing plants across the region are increasingly adopting sensors, controllers, and switches for automating temperature control, pressure control, real-time machine update, and other tasks. However, the market for the software segment is expected to grow at a higher CAGR over the forecast period.
North America experienced a rise in demand for automated solutions from Q2 of 2020 as the government bodies eased their restrictions and allowed manufacturing units to operate with low capacity. The rise in labor shortage and the requirement to adhere to the safety norms outlined by the regional government bodies propelled the demand for automated solutions across many industries, such as automotive, food & beverages, printing, manufacturing, and mining. Thus, the rise in demand for automated solutions across the region is aiding the market to revive from the negative impact of the COVID-19 outbreak.
To continue production operations with minimum workforce even post COVID-19 crisis, companies are increasingly investing in automated technologies such as robots. According to the data published by Association for Advancing Automation (A3) in 2022, North America experienced a 28% increase in robots sales in 2021 compared to 2020.
Market initiatives are the strategies adopted by companies to expand their footprint across the world and meet the growing customer demand. The North America factory automation market players are mainly focusing on product and service enhancements by integrating advanced features and technologies into their offerings.
The North America factory automation market size is segmented on the basis of component, hardware, type, technology, and industry vertical. Based on component, the North America factory automation market is segmented into hardware and software. Based on hardware, the North America factory automation market share is segmented into sensors, controllers, robots, drives, and others. Based on type, the North America factory automation market is segmented into programmable automation, fixed automation, and flexible automation. By technology, the North America factory automation market is segmented into programmable logic controller (PLC), distributed control system (DCS), supervisory control and data acquisition system (SCADA), human machine interface (HMI), and others. Based on industry vertical, the North America factory automation market share is segmented into automotive, food & beverage, oil & gas, manufacturing, mining, and others. Based on country, the North America factory automation market size is segmented into the US, Canada, and Mexico. Some of the key North America factory automation market players include ABB LTD.; Emerson Electric Co.; FANUC; General Electric Company; and Honeywell International Inc.
| Report Attribute | Details |
|---|---|
| Market size in 2022 | US$ 46,797.4 Million |
| Market Size by 2028 | US$ 74,823.3 Million |
| Global CAGR (2022 - 2028) | 8.1% |
| Historical Data | 2020-2021 |
| Forecast period | 2023-2028 |
| Segments Covered |
By Component
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The estimated market size for the North America factory automation market in 2022 is expected to be around US$ 46,797.4 million
Rising adoption of factory automation across automotive industry Increase in the number of product launches
Rising adoption of automation in mining industry
Emerson Electric Co., Schneider Electric, ABB LTD., Siemens AG, and Honeywell are the key market players expected to hold a major market share of North America factory automation market in 2022
The US is expected to hold a major market share of North America factory automation market in 2022
Hardware segment is expected to hold a major market share of North America factory automation market in 2022
The North America factory automation market is expected to register an incremental growth value of US$ 28,026.0 million during the forecast period