North America Factory Automation Market to Grow at a CAGR of 8.1% to reach US$ 74,823.3 Million from 2021 to 2028

The North America factory automation market is expected to grow from US$ 46,797.4 million in 2022 to US$ 74,823.3 million by 2028; it is estimated to grow at a CAGR of 8.1% from 2022 to 2028.

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:

• In September 2022, Fanuc Corporation announced the launch of new FANUC SCARA robots for food and cleanroom applications. The FANUC SR-3iA/C and SR-6iA/C are fast and precise Selective Compliance Assembly Robot Arm (SCARA) robots making them ideal for use in food plants and clean rooms. The robots consist of white epoxy coating for extra durability and IP54 protection guarding against the ingress of contamination from dust and water spray.
• In August 2022, Rockwell Automation, Inc. announced the enhancement in the compact PowerFlex Drive. The PowerFlex 6000T drive can accept up to 13.8 kV primary voltage, which is nearly twice the input voltage. Its real-time operational intelligence can monitor system performance, save energy with economizer mode, deliver faster commissioning with adaptive control, and reduce downtime and repair costs with predictive maintenance alerts.
• In June 2022, Honeywell International Inc. introduced Experion PKS Release 520.2. The system consists of new process automation features and functionality. It also helps expand the functionality of Control HIVE and allows automation projects to be deployed flexibly and resiliently.
• In May 2022, FANUC Corporation announced the launch of CRX collaborative robots. This series added three new collaborative robots—CRX-5iA, CRX-20iA/L, and CRX-25iA cobots. They are safe, reliable, easy-to-use, and versatile solutions for inspection, packing, machine load/unloading, palletizing, and welding.
• In October 2021, Emerson Electric Co. introduced a new ASCO Series 062 Rocker Isolation Valve. These valves are designed especially for fluid control manifolds in the clinical laboratory. It is designed with a 16mm compact size, allowing easy integration into complex fluid-handling manifolds. Also, it offers two-way and three-way functionality, maximizing flexibility and versatility.
• In July 2021, Emerson Electric Co. launched a new AVENTICSTM Series Servo Profile Advanced (SPRA) Electric Actuators. The actuators offer three screw technologies providing durability and accuracy. It is a cost-effective and high-performance solution that covers most machine automation applications.

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.

North America Factory Automation Market: Key Players

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.

North America Factory Automation Market: by Component

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.

Impact of COVID-19 Pandemic on North America Factory Automation Market

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.

North America Factory Automation Market: Market Initiative

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.

• In 2022, Addverb Technologies announced that they have opened a new Center of Excellence for Advanced Robotics Research and Development in California. The center will focus on the development of platforms for autonomous mobile robotics and automated guided vehicles.
• In 2022, Bosch Rexroth AG announced the expansion of its factory automation capabilities. The company improved their three industrial products—Intralogistics 4.0 ActiveShuttle, Digital Multi-Axis Robot Configuration, and End-to-End Automation Security.

North America Factory Automation Market Revenue and Forecast to 2028 (US$ Million)

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.

North America Factory Automation Market Report Scope