SAN FRANCISCO, Oct. 19, 2021 /PRNewswire/ -- A new market study published by Global Industry Analysts Inc., (GIA) the premier market research company, today released its report titled "Industrial Controls and Factory Automation - Global Market Trajectory & Analytics". The report presents fresh perspectives on opportunities and challenges in a significantly transformed post COVID-19 marketplace.
FACTS AT A GLANCE
Edition: 6; Released: May 2021
Executive Pool: 35078
Companies: 17 - Players covered include 3D Systems, Inc.; ABB Group; Azbil Corporation; Chaos Prime; Danfoss A/S; Dwyer Instruments, Inc.; Emersion Electric Co.; Endress+Hauser AG; FANUC Corporation; Fuji Electric Co., Ltd.; General Electric Company; Hewlett Packard Enterprise Development LP (HPE); Hitachi Ltd.; Honeywell International, Inc.; KROHNE Messtechnik GmbH; Mitsubishi Electric Corporation; OMRON Corporation (Industrial Automation); PINpoint Information Systems, Inc.; Progea Srl; Rockwell Automation, Inc.; Schneider Electric SA; Siemens AG; Stratasys Inc.; Tegan Innovations Ltd.; Vega Grieshaber KG; WIKA Alexander Wiegand SE & Co. KG; WIN-911 Software Ltd.; Yokogawa Electric Corporation and Others.
Coverage: All major geographies and key segments
Segments: Component (Industrial Robots, Machine Vision, Control Valves, Human-Machine Interface (HMI), Sensors & Cables, Other Components); End-Use (Process Industry, Discrete Industry, Other End-Uses)
Geographies: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
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Global Industrial Controls and Factory Automation Market to Reach $267.2 Billion by 2026
Amid the COVID-19 crisis, the global market for Industrial Controls and Factory Automation estimated at US$169.4 Billion in the year 2020, is projected to reach a revised size of US$267.2 Billion by 2026, growing at a CAGR of 7.7% over the analysis period. Industrial Robots, one of the segments analyzed in the report, is projected to record a 8.4% CAGR and reach US$94.3 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Machine Vision segment is readjusted to a revised 7.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $55.2 Billion in 2021, While China is Forecast to Reach $46.7 Billion by 2026
The Industrial Controls and Factory Automation market in the U.S. is estimated at US$55.2 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$46.7 Billion by the year 2026 trailing a CAGR of 7.2% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 7.3% and 6.2% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 6.2% CAGR.
Control Valves Segment to Reach US$44.6 Billion by the year 2026
In the global Control Valves segment, USA, Canada, Japan, China and Europe will drive the 7.4% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$23.3 Billion in the year 2020 will reach a projected size of US$38.2 Billion by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. More
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Global Industry Analysts, Inc., (www.strategyr.com) is a renowned market research publisher the world`s only influencer driven market research company. Proudly serving more than 42,000 clients from 36 countries, GIA is recognized for accurate forecasting of markets and industries for over 33 years.
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SOURCE Global Industry Analysts, Inc.